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STORAGE PROPERTIES (Tables)

3 Months Ended

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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