XML 23 R11.htm IDEA: XBRL DOCUMENT v3.23.1

STORAGE PROPERTIES

3 Months Ended

Mar. 31, 2023

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,		​
​		2023			2022		​
​	​	(in thousands)					​
Land	​	$	1,588,138	​	$	1,588,138	​
Buildings and improvements	​		5,485,336	​		5,483,506	​
Equipment	​		146,052	​		144,605	​
Construction in progress	​		42,417	​		37,584	​
Right-of-use assets - finance leases	​	​	41,945	​	​	41,945	​
Storage properties	​		7,303,888	​		7,295,778	​
Less: Accumulated depreciation	​		(1,290,075)	​		(1,247,775)	​
Storage properties, net	​	$	6,013,813	​	$	6,048,003	​

​

The following table summarizes the Company’s acquisition activity during the period January 1, 2022 through March 31, 2023.

​

​	​	​	​	​	​	​	​	​	​	​
​		​		​		Number of		Purchase / Sale Price
Asset/Portfolio	​	Metropolitan Statistical Area	​	Transaction Date	​	Stores	​	(in thousands)		​
​	​	​	​	​	​	​	​	​	​	​
2022 Acquisitions:	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​
Maryland Asset	​	Washington-Arlington-Alexandria, DC-VA-MD-WV	​	February 2022	​	1	​	$	32,000	​
Texas Asset	​	San Antonio, TX	​	June 2022	​	1	​	​	23,000	​
Georgia Asset	​	Atlanta, GA	​	July 2022	​	1	​	​	20,700	​
​	​	​	​	​	​	3	​	$	75,700	​

​

X

- References

No definition available.

+ Details

Name:	us-gaap_RealEstateAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 970
-URI https://asc.fasb.org/topic&trid=2156125

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 978
-URI https://asc.fasb.org/topic&trid=2134977

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 976
-URI https://asc.fasb.org/topic&trid=2134846

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 974
-URI https://asc.fasb.org/topic&trid=2156429

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 972
-URI https://asc.fasb.org/topic&trid=2134617

+ Details

Name:	us-gaap_RealEstateDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration