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STORAGE PROPERTIES (Tables) | 3 Months Ended
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Mar. 31, 2020
STORAGE PROPERTIES |
Summary of real estate assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31, | ​
​ |  | 2020 |  | 2019 | ​
​ | ​ | (in thousands) | ​
Land | ​ | $ | 859,607 | ​ | $ | 858,541 | ​
Buildings and improvements | ​ |  | 3,627,204 | ​ |  | 3,619,594 | ​
Equipment | ​ |  | 124,667 | ​ |  | 128,111 | ​
Construction in progress | ​ |  | 105,071 | ​ |  | 93,598 | ​
Storage properties | ​ |  | 4,716,549 | ​ |  | 4,699,844 | ​
Less: Accumulated depreciation | ​ |  | (944,958) | ​ |  | (925,359) | ​
Storage properties, net | ​ | $ | 3,771,591 | ​ | $ | 3,774,485 | ​
Schedule of acquisitions and dispositions of real estate assets | The following table summarizes the Company’s acquisition and disposition activity during the period beginning on January 1, 2019 through March 31, 2020. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | Number of |  | Purchase / Sale Price |
Asset/Portfolio | ​ | Metropolitan Statistical Area | ​ | Transaction Date | ​ | Stores | ​ | (in thousands) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2020 Acquisition: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Texas Asset | ​ | San Antonio, TX | ​ | February 2020 | ​ | 1 | ​ | $ | 9,025 | ​
​ | ​ | ​ | ​ | ​ | ​ | 1 | ​ | $ | 9,025 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2019 Acquisitions: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Maryland Asset | ​ | Baltimore-Towson, MD | ​ | March 2019 | ​ | 1 | ​ | $ | 22,000 | ​
Florida Assets | ​ | Cape Coral-Fort Myers, FL | ​ | April 2019 | ​ | 2 | ​ | ​ | 19,000 | ​
Arizona Asset | ​ | Phoenix-Mesa-Scottsdale, AZ | ​ | May 2019 | ​ | 1 | ​ | ​ | 1,550 | ​
HVP III Assets | ​ | Various (see note 4) | ​ | June 2019 | ​ | 18 | ​ | ​ | 128,250 | (1)
Georgia Asset | ​ | Atlanta-Sandy Springs-Marietta, GA | ​ | August 2019 | ​ | 1 | ​ | ​ | 14,600 | ​
South Carolina Asset | ​ | Charleston-North Charleston, SC | ​ | August 2019 | ​ | 1 | ​ | ​ | 3,300 | ​
Texas Asset | ​ | Dallas-Fort Worth-Arlington, TX | ​ | October 2019 | ​ | 1 | ​ | ​ | 7,300 | ​
Florida Assets | ​ | Orlando-Kissimmee, FL | ​ | November 2019 | ​ | 3 | ​ | ​ | 32,100 | ​
California Asset | ​ | Los Angeles-Long Beach-Santa Ana, CA | ​ | December 2019 | ​ | 1 | ​ | ​ | 18,500 | ​
​ | ​ | ​ | ​ | ​ | ​ | 29 | ​ | $ | 246,600 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2019 Disposition: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Texas Asset | ​ | College Station-Bryan, TX | ​ | October 2019 | ​ | 1 | ​ | $ | 4,146 | ​
​ | ​ | ​ | ​ | ​ | ​ | 1 | ​ | $ | 4,146 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
| (1) | Amount represents the purchase price for 90% of the ownership interest in 191 III CUBE LLC (“HVP III”), which at the time of the acquisition, owned 18 storage properties (see note 4).

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