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SUBSEQUENT EVENTS | 3 Months Ended
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Mar. 31, 2020
SUBSEQUENT EVENTS |
SUBSEQUENT EVENTS | 16. SUBSEQUENT EVENTS ​ Subsequent to March 31, 2020, the Company acquired two self-storage properties located in Maryland (1) and New Jersey (1) for an aggregate purchase price of $65.7 million. ​ During and subsequent to the first quarter of 2020, the Company has been impacted by the spread of a novel coronavirus and the disease that it causes known as COVID-19. Since the outbreak, the Company has made operational, pricing and other necessary changes to comply with governmental mandates on a jurisdiction by jurisdiction basis within the locales that its stores operate including, but not limited to, whether its stores are permitted to remain open, protections put in place for its employees and customers, and travel restrictions. The extent to which the COVID-19 pandemic impacts the Company’s business, operations and financial results will depend on numerous evolving factors that management is not be able to predict at this time, including, among others: the duration and scope of the pandemic; actions that have been and continue to be taken by governmental entities, individuals and businesses in response to the pandemic; the impact on economic activity from the pandemic and actions taken in response thereto; the impact on capital availability and costs of capital; the health of the Company’s employees; and the effect on the Company’s customers and their ability to make rental payments. ​ ​

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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