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v3.25.4

SEGMENT INFORMATION (Details) $ in Thousands | 12 Months Ended
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Dec. 31, 2025 USD ($) segment | Dec. 31, 2024 USD ($) | Dec. 31, 2023 USD ($)
SEGMENT INFORMATION |  |  |
Number of operating segment | segment | 1 |  |
Number of reportable segments | segment | 1 |  |
Total revenues | $ 1,123,110 | $ 1,066,231 | $ 1,050,334
Significant segment-level expenses (income): |  |  |
Total property operating expenses | 351,405 | 317,750 | 294,780
Depreciation and amortization | 258,151 | 205,703 | 201,238
General and administrative | 64,655 | 59,663 | 57,041
Interest expense on loans | 114,099 | 90,820 | 93,065
Loan procurement amortization expense | 4,972 | 4,067 | 4,141
Loss on early extinguishment of debt | 3,692 |  |
Equity in earnings of real estate ventures | (2,460) | (2,499) | (6,085)
Other | (2,721) | (1,158) | (6,281)
NET INCOME | 331,317 | 391,885 | 412,435
Self-storage segment |  |  |
SEGMENT INFORMATION |  |  |
Total revenues | 1,123,110 | 1,066,231 | 1,050,334
Significant segment-level expenses (income): |  |  |
Property taxes | 117,313 | 106,090 | 97,650
Personnel expense | 94,988 | 87,418 | 80,469
Advertising | 30,297 | 26,000 | 24,508
Repair and maintenance | 13,904 | 11,592 | 10,919
Utilities | 25,255 | 24,505 | 24,104
Property insurance | 14,848 | 15,377 | 13,085
Other property operating expenses | 54,800 | 46,768 | 44,045
Total property operating expenses | 351,405 | 317,750 | 294,780
Depreciation and amortization | 258,151 | 205,703 | 201,238
General and administrative | 64,655 | 59,663 | 57,041
Interest expense on loans | 114,099 | 90,820 | 93,065
Loan procurement amortization expense | 4,972 | 4,067 | 4,141
Loss on early extinguishment of debt | 3,692 |  |
Equity in earnings of real estate ventures | (2,460) | (2,499) | (6,085)
Other | (2,721) | (1,158) | (6,281)
NET INCOME | $ 331,317 | $ 391,885 | $ 412,435

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