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STORAGE PROPERTIES

3 Months Ended

Mar. 31, 2017

STORAGE PROPERTIES

STORAGE FACILITIES

3. STORAGE PROPERTIES

The book value of the Company’s real estate assets is summarized as follows:

		March 31,			December 31,
		2017			2016
		(in thousands)
Land		$	651,119		$	649,744
Buildings and improvements			2,938,899			2,928,275
Equipment			208,373			217,867
Construction in progress			221,975			202,294
Storage properties			4,020,366			3,998,180
Less: Accumulated depreciation			(693,146)			(671,364)
Storage properties, net		$	3,327,220		$	3,326,816

The following table summarizes the Company’s acquisition and disposition activity during the period beginning on January 1, 2016 through March 31, 2017:

						Number of		Purchase / Sale Price
Asset/Portfolio		Market		Transaction Date		Stores		(in thousands)
2016 Acquisitions:
Metro DC Asset		Baltimore / DC		January 2016		1		$	21,000
Texas Assets		Texas Markets - Major		January 2016		2			24,800
New York Asset		New York / Northern NJ		January 2016		1			48,500
Texas Asset		Texas Markets - Major		January 2016		1			11,600
Connecticut Asset		Connecticut		February 2016		1			19,000
Texas Asset		Texas Markets - Major		March 2016		1			11,600
Florida Assets		Florida Markets - Other		March 2016		3			47,925
Colorado Asset		Denver		April 2016		1			11,350
Texas Asset		Texas Markets - Major		April 2016		1			11,600
Texas Asset		Texas Markets - Major		May 2016		1			10,100
Texas Asset		Texas Markets - Major		May 2016		1			10,800
Illinois Asset		Chicago		May 2016		1			12,350
Illinois Asset		Chicago		May 2016		1			16,000
Massachusetts Asset		Massachusetts		June 2016		1			14,300
Nevada Assets		Las Vegas		July 2016		2			23,200
Arizona Asset		Phoenix		August 2016		1			14,525
Minnesota Asset		Minneapolis		August 2016		1			15,150
Colorado Asset		Denver		August 2016		1			15,600
Texas Asset		Texas Markets - Major		September 2016		1			6,100
Texas Asset		Texas Markets - Major		September 2016		1			5,300
Nevada Asset		Las Vegas		October 2016		1			13,250
North Carolina Asset		Charlotte		November 2016		1			10,600
Arizona Asset		Phoenix		November 2016		1			14,000
Nevada Asset		Las Vegas		December 2016		1			14,900
						28		$	403,550

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- References

No definition available.

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- Definition

The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 970
-SubTopic 360
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-28)
-URI http://asc.fasb.org/extlink&oid=6590653&loc=d3e638233-123024

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 11
-Article 9

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph c
-Subparagraph Schedule III
-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 10
-Subparagraph 4
-Article 9

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 6
-Subparagraph a
-Article 5

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