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STORAGE PROPERTIES

12 Months Ended

Dec. 31, 2017

STORAGE PROPERTIES

STORAGE FACILITIES

3.  STORAGE PROPERTIES

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

		December 31,			December 31,
		2017			2016
		(in thousands)
Land		$	711,140		$	649,744
Buildings and improvements			3,086,252			2,928,275
Equipment			182,958			217,867
Construction in progress			181,365			202,294
Storage properties			4,161,715			3,998,180
Less: Accumulated depreciation			(752,925)			(671,364)
Storage properties, net		$	3,408,790		$	3,326,816

The following table summarizes the Company’s acquisition and disposition activity for the years ended December 31, 2017,  2016, and 2015:

						Number of		Purchase / Sale Price
Asset/Portfolio		Market		Transaction Date		Stores		(in thousands)
2017 Acquisitions:
Illinois Asset		Chicago		April 2017		1		$	11,200
Maryland Asset		Baltimore / DC		May 2017		1			18,200
California Asset		Sacramento		May 2017		1			3,650
Texas Asset		Texas Markets - Major		October 2017		1			4,050
Florida Asset		Florida Markets - Other		October 2017		1			14,500
Illinois Asset		Chicago		November 2017		1			11,300
Florida Asset		Florida Markets - Other		December 2017		1			17,750
						7		$	80,650
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
2015 Acquisitions:
Texas Asset		Texas Markets - Major		February 2015		1		$	7,295
HSRE Assets		Chicago		March 2015		4			27,500
Arizona Asset		Arizona / Las Vegas		March 2015		1			7,900
Tennessee Asset		Tennessee		March 2015		1			6,575
Texas Asset		Texas Markets - Major		April 2015		1			15,795
Florida Asset		Florida Markets - Other		May 2015		1			7,300
Arizona Asset		Arizona / Las Vegas		June 2015		1			10,100
Florida Asset		Florida Markets - Other		June 2015		1			10,500
Texas Asset		Texas Markets - Major		July 2015		1			14,200
Maryland Asset		Baltimore / DC		July 2015		1			17,000
Maryland Asset		Baltimore / DC		July 2015		1			19,200
New York/New Jersey Assets		New York / Northern NJ		August 2015		2			24,823
New Jersey Asset		New York / Northern NJ		December 2015		1			14,350
PSI Assets		Various (see note 4)		December 2015		12			109,824
						29		$	292,362
2015 Dispositions:
Texas Assets		Texas Markets - Major		October 2015		7		$	28,000
Florida Asset		Florida Markets - Other		October 2015		1			9,800
						8		$	37,800

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- References

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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

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 210
-Section S99
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-URI http://asc.fasb.org/extlink&oid=6488278&loc=d3e604059-122996

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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section S99
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-Name Accounting Standards Codification
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