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SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2025

SEGMENT INFORMATION

Schedule the revenues and significant segment-level expenses of the self-storage segment


		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2025			2024			2025			2024

		(in thousands)
Total revenues		$	285,080		$	270,890		$	840,419		$	798,505

Significant segment-level expenses (income):
Property taxes			29,927			26,390			90,193			80,438
Personnel expense			24,009			21,561			67,793			66,229
Advertising			9,791			9,343			24,198			21,359
Repair and maintenance			3,689			2,848			9,737			8,654
Utilities			6,699			6,901			19,126			18,811
Property insurance			3,385			3,993			11,414			11,496
Other property operating expenses			13,348			10,832			40,349			35,015
Total property operating expenses			90,848			81,868			262,810			242,002

Depreciation and amortization			66,688			51,210			192,332			152,962
General and administrative			16,506			14,265			47,471			44,512
Interest expense on loans			29,380			22,750			84,570			68,436
Loan procurement amortization expense			1,258			986			3,700			3,031
Equity in earnings of real estate ventures			(648)			(418)			(1,574)			(1,688)
Other			(1,368)			(721)			(2,483)			(744)
Net income		$	82,416		$	100,950		$	253,593		$	289,994