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v3.25.2

SEGMENT INFORMATION (Details) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2025 USD ($) segment | Jun. 30, 2024 USD ($) segment | Jun. 30, 2025 USD ($) segment | Jun. 30, 2024 USD ($) segment
SEGMENT INFORMATION |  |  |  |
Number of operating segment | segment | 1 | 1 | 1 | 1
Total revenues | $ 282,303 | $ 266,209 | $ 555,339 | $ 527,615
Significant segment-level expenses (income): |  |  |  |
Total property operating expenses | 89,028 | 83,097 | 171,962 | 160,134
Depreciation and amortization | 66,488 | 51,035 | 125,644 | 101,752
General and administrative | 14,897 | 14,622 | 30,965 | 30,247
Interest expense on loans | 29,090 | 22,767 | 55,190 | 45,686
Loan procurement amortization expense | 1,221 | 1,015 | 2,442 | 2,045
Equity in earnings of real estate ventures | (547) | (425) | (926) | (1,270)
Other | (306) | (88) | (1,115) | (23)
NET INCOME | 82,432 | 94,186 | 171,177 | 189,044
Self-storage segment |  |  |  |
SEGMENT INFORMATION |  |  |  |
Total revenues | 282,303 | 266,209 | 555,339 | 527,615
Significant segment-level expenses (income): |  |  |  |
Property taxes | 30,087 | 26,686 | 60,266 | 54,048
Personnel expense | 22,404 | 23,576 | 43,784 | 44,668
Advertising | 9,986 | 8,424 | 14,407 | 12,016
Repairs and maintenance | 3,184 | 3,245 | 6,048 | 5,806
Utilities | 5,758 | 5,554 | 12,427 | 11,911
Property insurance | 3,856 | 3,831 | 8,029 | 7,503
Other property operating expenses | 13,753 | 11,781 | 27,001 | 24,182
Total property operating expenses | 89,028 | 83,097 | 171,962 | 160,134
Depreciation and amortization | 66,488 | 51,035 | 125,644 | 101,752
General and administrative | 14,897 | 14,622 | 30,965 | 30,247
Interest expense on loans | 29,090 | 22,767 | 55,190 | 45,686
Loan procurement amortization expense | 1,221 | 1,015 | 2,442 | 2,045
Equity in earnings of real estate ventures | (547) | (425) | (926) | (1,270)
Other | (306) | (88) | (1,115) | (23)
NET INCOME | $ 82,432 | $ 94,186 | $ 171,177 | $ 189,044

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