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STORAGE PROPERTIES | 9 Months Ended
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Sep. 30, 2023
STORAGE PROPERTIES |
STORAGE FACILITIES | 3. STORAGE PROPERTIES ​ The book value of the Company’s real estate assets is summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | December 31, | ​
​ |  | 2023 |  | 2022 | ​
​ | ​ | (in thousands) | ​
Land | ​ | $ | 1,588,138 | ​ | $ | 1,588,138 | ​
Buildings and improvements | ​ |  | 5,497,013 | ​ |  | 5,483,506 | ​
Equipment | ​ |  | 143,680 | ​ |  | 144,605 | ​
Construction in progress | ​ |  | 62,041 | ​ |  | 37,584 | ​
Right-of-use assets - finance leases | ​ | ​ | 41,945 | ​ | ​ | 41,945 | ​
Storage properties | ​ |  | 7,332,817 | ​ |  | 7,295,778 | ​
Less: Accumulated depreciation | ​ |  | (1,375,321) | ​ |  | (1,247,775) | ​
Storage properties, net | ​ | $ | 5,957,496 | ​ | $ | 6,048,003 | ​
​ The following table summarizes the Company’s acquisition activity since January 1, 2022. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | Number of |  | Transaction 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 | ​
​

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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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 976 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//976/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 978 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//978/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 970 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//970/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 972 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//972/tableOfContent Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 974 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//974/tableOfContent + Details
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