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INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES (Tables) | 9 Months Ended
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Sep. 30, 2025
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Condensed Financial Information of Unconsolidated Real Estate Ventures | The following table presents the combined condensed financial position of the Company's unconsolidated real estate ventures as of September 30, 2025 and December 31, 2024 (dollars in thousands):
| September 30, 2025 |  | December 31, 2024
ASSETS |  |  |
Self storage properties | $ | 2,758,743 |  |  | $ | 2,700,632 |
Less accumulated depreciation | (505,615) |  |  | (445,006) |
Self storage properties, net | 2,253,128 |  |  | 2,255,626 |
Other assets | 41,552 |  |  | 43,513 |
Total assets | $ | 2,294,680 |  |  | $ | 2,299,139 |
LIABILITIES AND EQUITY |  |  |
Debt financing | $ | 1,214,036 |  |  | $ | 1,213,169 |
Other liabilities | 36,922 |  |  | 37,206 |
Equity | 1,043,722 |  |  | 1,048,764 |
Total liabilities and equity | $ | 2,294,680 |  |  | $ | 2,299,139 |
The following tables present the combined condensed operating information of the Company's unconsolidated real estate ventures for the three and nine months ended September 30, 2025 and 2024 (dollars in thousands):
| Three Months Ended September 30,
| 2025 |  | 2024
Total revenue | $ | 62,875 |  |  | $ | 63,293 |
Property operating expenses | (21,790) |  |  | (19,471) |
Supervisory, administrative and other expenses | (4,088) |  |  | (4,150) |
Depreciation and amortization | (20,771) |  |  | (21,671) |
Interest expense | (13,653) |  |  | (13,650) |
Non-operating income (expense) | 430 |  |  | (1,037) |
Net income | $ | 3,003 |  |  | $ | 3,314 |
| Nine Months Ended September 30,
| 2025 |  | 2024
Total revenue | $ | 186,169 |  |  | $ | 180,105 |
Property operating expenses | (65,615) |  |  | (56,523) |
Supervisory, administrative and other expenses | (12,116) |  |  | (11,683) |
Depreciation and amortization | (63,284) |  |  | (60,441) |
Interest expense | (41,033) |  |  | (39,405) |
Non-operating income (expense) | 921 |  |  | (192) |
Net income | $ | 5,042 |  |  | $ | 11,861 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 + Details
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