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STORAGE PROPERTIES (Tables)

12 Months Ended

Dec. 31, 2024

STORAGE PROPERTIES

Summary of real estate assets

​

​	​	​	​	​	​	​	​
​	​	December 31,					​
​		2024			2023		​
​	​	(in thousands)					​
Land	​	$	1,645,549	​	$	1,594,742	​
Buildings and improvements	​		5,759,848	​		5,517,544	​
Equipment	​		147,709	​		144,372	​
Construction in progress	​		33,723	​		69,010	​
Right-of-use assets - finance leases	​	​	41,945	​	​	41,945	​
Storage properties	​		7,628,774	​		7,367,613	​
Less: Accumulated depreciation	​		(1,590,588)	​		(1,416,377)	​
Storage properties, net	​	$	6,038,186	​	$	5,951,236	​

Schedule of acquisitions and dispositions of real estate assets

​

​	​	​	​	​	​	​	​	​	​	​
​		​		​		Number of		Transaction Price
Asset/Portfolio	​	Metropolitan Statistical Area	​	Transaction Date	​	Stores	​	(in thousands)		​
​	​	​	​	​	​	​	​	​	​	​
2024 Acquisitions:	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​
Connecticut Assets	​	Hartford-West Hartford-East Hartford, CT	​	January 2024	​	2	​	$	20,200	​
Oregon Asset	​	Portland-Vancouver-Beaverton, OR-WA	​	November 2024	​	1	​	​	10,450	​
Pennsylvania Asset	​	Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	​	November 2024	​	1	​	​	11,500	​
Hines Portfolio (1)	​	Dallas-Fort Worth-Arlington, TX	​	December 2024	​	14	​	​	157,250	​
​	​	​	​	​	​	18	​	$	199,400	​
​	​	​	​	​	​	​	​	​	​	​
2023 Acquisition:	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​
New Jersey Asset	​	New York-Northern New Jersey-Long Island, NY-NJ-PA	​	December 2023	​	1	​	$	22,000	​
​	​	​	​	​	​	1	​	$	22,000	​
​	​	​	​	​	​	​	​	​	​	​
2023 Disposition:	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​
Illinois Asset (2)	​	Chicago-Naperville-Joliet, IL-IN-WI	​	December 2023	​	1	​	$	8,000	​
​	​	​	​	​	​	1	​	$	8,000	​
​	​	​	​	​	​	​	​	​	​	​
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	​

​

(1) These stores are owned by consolidated joint ventures in which the Company acquired an 85% ownership interest. Transaction price represents the acquisition of this ownership interest.

​

(2) This store was subject to an involuntary conversion by the Department of Transportation of the State of Illinois.

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