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Schedule III Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III Real Estate and Accumulated Depreciation

SMARTSTOP SELF STORAGE REIT, INC. AND SUBSIDIARIES

SCHEDULE III

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2022


					Initial Cost to Company									Gross Carrying Amount at December 31, 2022
Description	ST	Encumbrance			Land		Building and Improvements		Total		Cost Capitalized Subsequent to Acquisition			Land		Building and Improvements		Total (1)		Accumulated Depreciation		Date of Construction	Date Acquired
Morrisville	NC	$	—	(4)	$	531,000	$	1,891,000	$	2,422,000	$	204,262		$	531,000	$	2,095,262	$	2,626,262	$	652,967	2004	11/3/2014
Cary	NC		—	(4)		1,064,000		3,301,000		4,365,000		244,450			1,064,000		3,545,450		4,609,450		1,055,508	1998/2005/2006	11/3/2014
Raleigh	NC		—	(4)		1,186,000		2,540,000		3,726,000		378,893			1,186,000		2,918,893		4,104,893		1,036,976	1999	11/3/2014
Myrtle Beach I	SC		8,491,387			1,482,000		4,476,000		5,958,000		546,002			1,482,000		5,022,002		6,504,002		1,575,498	1998/2005-2007	11/3/2014
Myrtle Beach II	SC		6,736,055			1,690,000		3,654,000		5,344,000		401,685			1,690,000		4,055,685		5,745,685		1,308,034	1999/2006	11/3/2014
Whittier	CA		4,495,305			2,730,000		2,916,875		5,646,875		735,636			2,730,000		3,652,511		6,382,511		1,266,433	1989	2/19/2015
La Verne	CA		3,093,713			1,950,000		2,036,875		3,986,875		345,409			1,950,000		2,382,284		4,332,284		879,912	1986	1/23/2015
Santa Ana	CA		5,075,474			4,890,000		4,006,875		8,896,875		756,398			4,890,000		4,763,273		9,653,273		1,624,906	1978	2/5/2015
Upland	CA		3,528,728			2,950,000		3,016,875		5,966,875		596,231			2,950,000		3,613,106		6,563,106		1,294,817	1979	1/29/2015
La Habra	CA		3,576,890			2,060,000		2,356,875		4,416,875		652,209			2,060,000		3,009,084		5,069,084		929,982	1981	2/5/2015
Monterey Park	CA		2,513,545			2,020,000		2,216,875		4,236,875		400,444			2,020,000		2,617,319		4,637,319		806,159	1987	2/5/2015
Huntington Beach	CA		6,815,534			5,460,000		4,856,875		10,316,875		508,065			5,460,000		5,364,940		10,824,940		1,772,180	1986	2/5/2015
Chico	CA		1,136,033			400,000		1,336,875		1,736,875		372,580			400,000		1,709,455		2,109,455		595,664	1984	1/23/2015
Lancaster	CA		1,643,514			200,000		1,516,875		1,716,875		544,234			200,000		2,061,109		2,261,109		772,616	1980	1/29/2015
Riverside	CA		2,271,845			370,000		2,326,875		2,696,875		744,444			370,000		3,071,319		3,441,319		1,013,228	1985	1/23/2015
Fairfield	CA		2,682,779			730,000		2,946,875		3,676,875		322,208			730,000		3,269,083		3,999,083		1,036,507	1984	1/23/2015
Lompoc	CA		2,755,244			1,000,000		2,746,875		3,746,875		348,373			1,000,000		3,095,248		4,095,248		959,467	1982	2/5/2015
Santa Rosa	CA		7,154,002			3,150,000		6,716,875		9,866,875		837,876			3,150,000		7,554,751		10,704,751		2,394,886	1979-1981	1/29/2015
Vallejo	CA		—	(4)		990,000		3,946,875		4,936,875		466,627			990,000		4,413,502		5,403,502		1,378,210	1981	1/29/2015
Federal Heights	CO		2,320,229			1,100,000		3,346,875		4,446,875		397,310			1,100,000		3,744,185		4,844,185		1,410,847	1983	1/29/2015
Aurora	CO		4,688,842			810,000		5,906,875		6,716,875		873,782			810,000		6,780,657		7,590,657		2,182,032	1984	2/5/2015
Littleton	CO		2,126,913			1,680,000		2,456,875		4,136,875		380,972			1,680,000		2,837,847		4,517,847		972,290	1985	1/23/2015
Bloomingdale	IL		2,320,229			810,000		3,856,874		4,666,874		516,113			810,000		4,372,987		5,182,987		1,376,557	1987	2/19/2015
Crestwood	IL		1,595,130			250,000		2,096,875		2,346,875		438,121			250,000		2,534,996		2,784,996		870,846	1987	1/23/2015
Forestville	MD		3,383,575			1,940,000		4,346,875		6,286,875		1,155,658			1,940,000		5,502,533		7,442,533		2,074,243	1988	1/23/2015
Warren I	MI		1,909,295			230,000		2,966,875		3,196,875		605,075			230,000		3,571,950		3,801,950		1,180,432	1996	5/8/2015
Sterling Heights	MI		2,247,764			250,000		3,286,875		3,536,875		917,177			250,000		4,204,052		4,454,052		1,324,243	1977	5/21/2015
Troy	MI		3,335,413			240,000		4,176,875		4,416,875		464,700			240,000		4,641,575		4,881,575		1,455,387	1988	5/8/2015
Warren II	MI		2,199,380			240,000		3,066,875		3,306,875		748,969			240,000		3,815,844		4,055,844		1,286,694	1987	5/8/2015
Beverly	NJ		1,353,430			400,000		1,696,875		2,096,875		363,219			400,000		2,060,094		2,460,094		634,190	1988	5/28/2015
Everett	WA		2,658,476			2,010,000		2,956,875		4,966,875		810,891			2,010,000		3,767,766		5,777,766		1,185,904	1986	2/5/2015
Foley	AL		4,036,209			1,839,000		5,717,000		7,556,000		922,571			1,839,000		6,639,571		8,478,571		2,043,884	1985/1996/2006	9/11/2015
Tampa	FL		1,595,130			718,244		2,257,471		2,975,715		595,503			718,244		2,852,974		3,571,218		860,973	1985	11/3/2015
Boynton Beach	FL		7,975,648			1,983,491		15,232,817		17,216,308		562,650			1,983,491		15,795,467		17,778,958		3,390,161	2004	1/7/2016
Lancaster II	CA		2,296,148			670,392		3,711,424		4,381,816		368,560			670,392		4,079,984		4,750,376		1,124,491	1991	1/11/2016
Milton(2)	ONT		—	(4)		1,452,870		7,929,810		9,382,680		631,867	(3)		1,490,206		8,524,341		10,014,547		1,850,082	2006	2/11/2016
Burlington I(2)	ONT		—	(4)		3,293,267		10,278,861		13,572,128		843,154	(3)		3,377,898		11,037,384		14,415,282		2,405,590	2011	2/11/2016
Oakville I(2)	ONT		—	(4)		2,655,215		13,072,458		15,727,673		2,456,332	(3)		2,723,449		15,460,556		18,184,005		3,394,879	2016	2/11/2016
Oakville II(2)	ONT		—	(4)		2,983,307		9,346,283		12,329,590		311,685	(3)		2,975,847		9,665,428		12,641,275		2,187,289	2004	2/29/2016
Burlington II(2)	ONT		—	(4)		2,944,035		5,125,839		8,069,874		242,547	(3)		2,936,674		5,375,747		8,312,421		1,212,620	2008	2/29/2016
Xenia	OH		—	(4)		275,493		2,664,693		2,940,186		175,415			275,493		2,840,108		3,115,601		766,260	2003	4/20/2016
Sidney	OH		—	(4)		255,246		1,806,349		2,061,595		232,575			255,246		2,038,924		2,294,170		806,881	2003	4/20/2016
Troy	OH		—	(4)		150,666		2,596,010		2,746,676		206,114			150,666		2,802,124		2,952,790		858,965	2003	4/20/2016
Greenville	OH		—	(4)		82,598		1,909,466		1,992,064		209,324			82,598		2,118,790		2,201,388		568,842	2003	4/20/2016


					Initial Cost to Company									Gross Carrying Amount at December 31, 2022
Description	ST	Encumbrance			Land		Building and Improvements		Total		Cost Capitalized Subsequent to Acquisition			Land		Building and Improvements		Total (1)		Accumulated Depreciation		Date of Construction	Date Acquired
Washington Court House	OH		—	(4)		255,456		1,882,203		2,137,659		173,835			255,456		2,056,038		2,311,494		571,588	2003	4/20/2016
Richmond	IN		—	(4)		223,159		2,944,379		3,167,538		225,125			223,159		3,169,504		3,392,663		900,168	2003	4/20/2016
Connersville	IN		—	(4)		155,533		1,652,290		1,807,823		155,266			155,533		1,807,556		1,963,089		506,706	2003	4/20/2016
Port St. Lucie I	FL		—	(4)		2,589,781		6,339,578		8,929,359		269,080			2,589,781		6,608,658		9,198,439		1,585,837	1999	4/29/2016
Sacramento	CA		—	(4)		1,205,209		6,616,767		7,821,976		146,392			991,287		6,977,081		7,968,368		1,538,414	2006	5/9/2016
Oakland	CA		—	(4)		5,711,189		6,902,446		12,613,635		346,418			5,711,189		7,248,864		12,960,053		1,582,865	1979	5/18/2016
Concord	CA		—	(4)		19,090,003		17,202,868		36,292,871		923,103			19,090,003		18,125,971		37,215,974		4,029,552	1988/1998	5/18/2016
Pompano Beach	FL		8,502,149			3,947,715		16,656,002		20,603,717		299,630			3,947,715		16,955,632		20,903,347		3,365,982	1979	6/1/2016
Lake Worth	FL		10,225,596			12,108,208		10,804,173		22,912,381		399,142			12,108,208		11,203,315		23,311,523		3,093,048	1998/2003	6/1/2016
Jupiter	FL		11,469,344			16,029,881		10,556,833		26,586,714		406,654			16,029,881		10,963,487		26,993,368		2,521,208	1992/2012	6/1/2016
Royal Palm Beach	FL		9,604,947			11,425,394		13,275,322		24,700,716		356,831			11,425,394		13,632,153		25,057,547		3,501,241	2001/2003	6/1/2016
Port St. Lucie II	FL		6,897,272			5,130,621		8,410,474		13,541,095		455,469			5,130,621		8,865,943		13,996,564		2,179,584	2002	6/1/2016
Wellington	FL		—	(4)		10,233,511		11,662,801		21,896,312		259,926			10,233,511		11,922,727		22,156,238		2,553,809	2005	6/1/2016
Doral	FL		—	(4)		11,335,658		11,485,045		22,820,703		384,227			11,335,658		11,869,272		23,204,930		2,599,570	1998	6/1/2016
Plantation	FL		15,267,178			12,989,079		19,224,919		32,213,998		851,417			12,989,079		20,076,336		33,065,415		4,267,131	2002/2012	6/1/2016
Naples	FL		—	(4)		11,789,085		12,771,305		24,560,390		395,774			11,789,085		13,167,079		24,956,164		2,778,539	2002	6/1/2016
Delray	FL		11,753,240			17,096,692		12,983,627		30,080,319		347,660			17,096,692		13,331,287		30,427,979		2,921,059	2003	6/1/2016
Baltimore	MD		—	(4)		3,897,872		22,427,843		26,325,715		717,900			3,897,872		23,145,743		27,043,615		5,166,657	1990/2014	6/1/2016
Sonoma	CA		6,795,065			3,468,153		3,679,939		7,148,092		224,692			3,468,153		3,904,631		7,372,784		922,006	1984	6/14/2016
Las Vegas I	NV		11,158,848			2,391,220		11,117,892		13,509,112		308,960			2,391,220		11,426,852		13,818,072		2,275,449	2002	7/28/2016
Las Vegas II	NV		11,207,605			3,840,088		9,916,937		13,757,025		356,819			3,840,088		10,273,756		14,113,844		2,195,007	2000	9/23/2016
Las Vegas III	NV		8,474,386			2,565,579		6,338,944		8,904,523		448,830			2,565,579		6,787,774		9,353,353		1,494,689	1989	9/27/2016
Asheville I	NC		—	(4)		3,619,676		11,173,603		14,793,279		517,214			3,619,676		11,690,817		15,310,493		2,560,579	1988/2005/2015	12/30/2016
Asheville II	NC		—	(4)		1,764,969		3,107,311		4,872,280		261,878			1,764,969		3,369,189		5,134,158		778,907	1984	12/30/2016
Hendersonville I	NC		—	(4)		1,081,547		3,441,204		4,522,751		269,243			1,081,547		3,710,447		4,791,994		807,391	1982	12/30/2016
Asheville III	NC		—	(4)		5,096,833		4,620,013		9,716,846		298,426			5,096,833		4,918,439		10,015,272		1,188,790	1991/2002	12/30/2016
Arden	NC		—	(4)		1,790,118		10,265,741		12,055,859		553,138			1,790,118		10,818,879		12,608,997		2,108,799	1973	12/30/2016
Asheville IV	NC		—	(4)		4,558,139		4,455,118		9,013,257		294,611			4,558,139		4,749,729		9,307,868		1,158,851	1985/1986/2005	12/30/2016
Asheville V	NC		—	(4)		2,414,680		7,826,417		10,241,097		433,376			2,414,680		8,259,793		10,674,473		1,794,288	1978/2009/2014	12/30/2016
Asheville VI	NC		—	(4)		1,306,240		5,121,332		6,427,572		288,489			1,306,240		5,409,821		6,716,061		1,099,654	2004	12/30/2016
Asheville VIII	NC		—	(4)		1,764,965		6,162,855		7,927,820		319,160			1,764,965		6,482,015		8,246,980		1,456,375	1968/2002	12/30/2016
Hendersonville II	NC		—	(4)		2,597,584		5,037,350		7,634,934		341,573			2,597,584		5,378,923		7,976,507		1,385,172	1989/2003	12/30/2016
Asheville VII	NC		—	(4)		782,457		2,139,791		2,922,248		95,973			782,457		2,235,764		3,018,221		526,446	1999	12/30/2016
Sweeten Creek Land	NC		—			348,480		-		348,480		-			348,480		-		348,480		-	N/A	12/30/2016
Highland Center Land	NC		—			50,000		-		50,000		-			50,000		-		50,000		-	N/A	12/30/2016
Aurora II	CO		—	(4)		1,584,664		8,196,091		9,780,755		161,797			1,584,664		8,357,888		9,942,552		1,959,680	2012	1/11/2017
Dufferin(2)	ONT		—	(4)		6,258,511		16,287,332		22,545,843		1,698,188	(3)		6,544,256		17,699,775		24,244,031		3,371,759	2015	2/1/2017
Mavis(2)	ONT		—	(4)		4,657,233		14,493,508		19,150,741		1,207,696	(3)		4,869,868		15,488,569		20,358,437		2,908,138	2013	2/1/2017
Brewster(2)	ONT		—	(4)		4,136,329		9,527,410		13,663,739		837,189	(3)		4,325,182		10,175,746		14,500,928		1,956,001	2013	2/1/2017
Granite(2)	ONT		—	(4)		3,126,446		8,701,429		11,827,875		724,916	(3)		3,269,190		9,283,601		12,552,791		1,698,329	1998/2016	2/1/2017
Centennial(2)	ONT		—	(4)		1,714,644		11,428,538		13,143,182		688,090	(3)		1,792,930		12,038,342		13,831,272		2,161,162	2016/2017	2/1/2017
Ft. Pierce	FL		8,764,926			1,152,931		12,398,306		13,551,237		229,192			1,152,931		12,627,498		13,780,429		1,559,942	2008	1/24/2019
Russell Blvd, Las Vegas II	NV		—	(4)		3,433,634		15,449,497		18,883,131		692,595			3,510,075		16,065,651		19,575,726		2,455,682	1996	1/24/2019
Jones Blvd, Las Vegas I	NV		—	(4)		1,975,283		12,565,410		14,540,693		186,266			1,975,283		12,751,676		14,726,959		1,561,518	1999	1/24/2019
Airport Rd, Colorado Springs	CO		—	(4)		870,373		7,877,813		8,748,186		312,027			870,373		8,189,840		9,060,213		1,082,369	1983	1/24/2019
Riverside	CA		—	(4)		1,259,685		6,995,794		8,255,479		365,030			1,259,685		7,360,824		8,620,509		1,024,838	1980	1/24/2019


					Initial Cost to Company										Gross Carrying Amount at December 31, 2022
Description	ST	Encumbrance			Land		Building and Improvements		Total		Cost Capitalized Subsequent to Acquisition				Land		Building and Improvements		Total (1)		Accumulated Depreciation		Date of Construction	Date Acquired
Stockton	CA		—	(4)		783,938		7,706,492		8,490,430		215,432				783,938		7,921,924		8,705,862		1,063,931	1984	1/24/2019
Azusa	CA		—	(4)		4,384,861		9,153,677		13,538,538		192,710				4,384,861		9,346,387		13,731,248		1,201,203	1986	1/24/2019
Romeoville	IL		—	(4)		964,701		5,755,146		6,719,847		369,798				964,701		6,124,944		7,089,645		870,184	1986	1/24/2019
Elgin	IL		—	(4)		1,162,197		2,895,052		4,057,249		184,869				1,162,197		3,079,921		4,242,118		554,774	1986	1/24/2019
San Antonio I	TX		—	(4)		1,602,740		9,196,093		10,798,833		213,577				1,602,740		9,409,670		11,012,410		1,225,041	1998	1/24/2019
Kingwood	TX		—	(4)		1,016,291		9,358,519		10,374,810		228,992				1,016,291		9,587,511		10,603,802		1,301,662	2001	1/24/2019
Aurora III	CO		—	(4)		1,678,141		5,958,219		7,636,360		134,038				1,678,141		6,092,257		7,770,398		1,041,306	2015	1/24/2019
Stoney Creek I (2)	ONT		—	(4)		2,363,127		8,154,202		10,517,329		(47,151	)	(3)		2,328,422		8,141,756		10,470,178		1,089,451	N/A	1/24/2019
Torbarrie (2)	ONT		—	(4)		2,714,051		5,262,813		7,976,864		7,949,502		(3)		2,674,192		13,252,174		15,926,366		1,406,635	1980	1/24/2019
Baseline	AZ		—	(4)		1,307,289		11,385,380		12,692,669		220,452				1,307,289		11,605,832		12,913,121		1,551,922	2016	1/24/2019
3173 Sweeten Creek Rd, Asheville	NC		—	(4)		1,036,164		8,764,558		9,800,722		1,234,645				1,036,164		9,999,203		11,035,367		1,223,873	1982	1/24/2019
Elk Grove	IL		—	(4)		2,384,166		6,000,071		8,384,237		211,960				2,384,166		6,212,031		8,596,197		852,715	2016	1/24/2019
Garden Grove	CA		—	(4)		8,076,202		13,152,494		21,228,696		279,159				8,076,202		13,431,653		21,507,855		1,743,967	2017	1/24/2019
Deaverview Rd, Asheville	NC		—	(4)		1,449,001		4,412,039		5,861,040		315,871				1,449,001		4,727,910		6,176,911		693,994	1992	1/24/2019
Highland Center Blvd, Asheville	NC		—	(4)		1,763,875		4,823,116		6,586,991		302,930				1,763,875		5,126,046		6,889,921		713,589	1994	1/24/2019
Sarasota	FL		—	(4)		1,084,165		7,359,913		8,444,078		137,663				1,084,165		7,497,576		8,581,741		933,825	2017	1/24/2019
Mount Pleasant	SC		—	(4)		1,054,553		5,678,794		6,733,347		139,511				1,054,553		5,818,305		6,872,858		724,650	2016	1/24/2019
Nantucket	MA		20,207,278			5,854,837		33,210,517		39,065,354		199,113				5,854,837		33,409,630		39,264,467		4,002,850	2002	1/24/2019
Pembroke Pines	FL		—	(4)		3,146,970		14,296,167		17,443,137		127,183				3,146,970		14,423,350		17,570,320		1,822,621	2018	1/24/2019
Riverview	FL		—	(4)		1,593,082		7,102,271		8,695,353		3,294,325				2,405,974		9,583,704		11,989,678		1,097,546	2018	1/24/2019
Eastlake	CA		—	(4)		2,120,104		15,417,746		17,537,850		169,002				2,120,104		15,586,748		17,706,852		1,815,870	2018	1/24/2019
McKinney	TX		—	(4)		2,177,186		9,320,876		11,498,062		222,422				2,101,521		9,618,963		11,720,484		1,183,221	2016	1/24/2019
Hualapai Way, Las Vegas	NV		—	(4)		742,839		9,018,717		9,761,556		95,212				742,839		9,113,929		9,856,768		1,132,369	2018	1/24/2019
Gilbert	AZ		—	(4)		1,379,687		9,021,255		10,400,942		375,672				1,037,750		9,738,864		10,776,614		1,100,568	2019	7/11/2019
Industrial, Jensen Beach	FL		4,009,000			893,648		6,969,348		7,862,996		42,310				893,648		7,011,658		7,905,306		415,305	1979	3/17/2021
Emmett F Lowry Expy, Texas City	TX		5,112,000			940,119		8,643,066		9,583,185		34,593				940,119		8,677,659		9,617,778		507,728	2010	3/17/2021
Van Buren Blvd, Riverside II	CA		3,510,000			2,308,151		7,393,117		9,701,268		147,637				2,308,151		7,540,754		9,848,905		418,015	1984	3/17/2021
Las Vegas Blvd, Las Vegas	NV		5,413,000			922,569		11,035,721		11,958,290		61,779				922,569		11,097,500		12,020,069		591,900	1996	3/17/2021
Goodlette Rd, Naples	FL		—	(4)		2,467,683		18,647,151		21,114,834		105,108				2,467,683		18,752,259		21,219,942		1,027,884	2001	3/17/2021
Centennial Pkwy, LV II	NV		7,118,000			1,397,045		15,193,510		16,590,555		57,329				1,397,045		15,250,839		16,647,884		841,303	2006	3/17/2021
Texas Ave, College Station	TX		—	(4)		3,530,460		5,583,528		9,113,988		24,331				3,530,460		5,607,859		9,138,319		356,471	2004	3/17/2021
Meridian Ave, Puyallup	WA		6,616,000			5,747,712		9,884,313		15,632,025		41,899				5,747,712		9,926,212		15,673,924		648,705	1990	3/17/2021
Westheimer Pkwy, Katy	TX		—	(4)		1,212,751		6,423,972		7,636,723		39,686				1,212,751		6,463,658		7,676,409		364,032	2003	3/17/2021
FM 1488, The Woodlands II	TX		—	(4)		1,945,532		8,905,822		10,851,354		39,641				1,945,532		8,945,463		10,890,995		529,289	2007	3/17/2021
Hwy 290, Cypress	TX		—	(4)		2,832,498		5,259,689		8,092,187		105,836				2,832,498		5,365,525		8,198,023		338,028	2002	3/17/2021
Lake Houston Pkwy, Humble	TX		—	(4)		2,475,909		6,539,367		9,015,276		95,516				2,475,909		6,634,883		9,110,792		447,286	2004	3/17/2021
Gosling Rd, The Woodlands	TX		—	(4)		1,248,558		7,314,476		8,563,034		81,337				1,248,558		7,395,813		8,644,371		429,883	2002	3/17/2021
Queenston Blvd, Houston	TX		—	(4)		778,007		5,241,798		6,019,805		114,145				778,007		5,355,943		6,133,950		319,290	2007	3/17/2021
Jim Johnson Rd, Plant City	FL		8,722,000			1,176,605		20,045,758		21,222,363		49,084				1,176,605		20,094,842		21,271,447		1,347,264	2004	3/17/2021


Frelinghuysen Ave, Newark	NJ	—	(4)	10,700,968	24,754,531	35,455,499	1,861,781	10,700,968	26,616,312	37,317,280	1,546,567	1931	3/17/2021
Redmond Fall City Rd, Redmond	WA	—	(4)	3,874,807	7,061,417	10,936,224	104,302	3,874,807	7,165,719	11,040,526	443,033	1997	3/17/2021


					Initial Cost to Company										Gross Carrying Amount at December 31, 2022
Description	ST	Encumbrance			Land		Building and Improvements		Total		Cost Capitalized Subsequent to Acquisition				Land		Building and Improvements		Total (1)		Accumulated Depreciation		Date of Construction	Date Acquired
Greenway Rd, Surprise	AZ		—	(4)		1,340,075		7,587,601		8,927,676		87,372				1,340,075		7,674,973		9,015,048		446,777	2019	3/17/2021
Marshall Farms Rd, Ocoee	FL		—	(4)		1,253,081		10,931,368		12,184,449		12,214				1,253,081		10,943,582		12,196,663		593,995	2019	3/17/2021
Ardrey Kell Rd, Charlotte	NC		—	(4)		1,316,193		15,140,130		16,456,323		—				1,316,193		15,140,130		16,456,323		820,471	2018	3/17/2021
University City, Charlotte II	NC		—	(4)		1,134,981		11,301,614		12,436,595		14,335				1,134,981		11,315,949		12,450,930		627,380	2017	3/17/2021
Hydraulic Rd, Charlottesville	VA		—	(4)		1,846,479		16,268,290		18,114,769		2,832				1,846,479		16,271,122		18,117,601		867,689	2017	3/17/2021
Metcalf St, Escondido	CA		—	(4)		1,018,965		18,019,171		19,038,136		158,450				1,018,965		18,177,621		19,196,586		946,495	2019	3/17/2021
Tamiami Trail, Punta Gorda	FL		—	(4)		2,034,608		15,764,762		17,799,370		13,746				2,034,608		15,778,508		17,813,116		875,594	1992	3/17/2021
Iroquois Shore Rd, Oakville III (2)	ONT		11,992,500			1,423,150		18,637,895		20,061,045		(1,446,109	)	(3)		1,314,804		17,300,132		18,614,936		863,228	2020	4/16/2021
Van Buren Blvd, Riverside III	CA		—			3,705,043		6,511,602		10,216,645		255,935				3,705,043		6,767,537		10,472,580		414,447	1996	5/27/2021
Alameda Pkwy, Lakewood	CO		—	(4)		2,134,320		14,750,963		16,885,283		352,899				2,134,320		15,103,862		17,238,182		564,837	1998	10/19/2021
Algonquin Rd, Algonquin	IL		—	(4)		717,325		17,439,376		18,156,701		211,176				717,325		17,650,552		18,367,877		516,204	1987	2/8/2022
Pell Cir, Sacramento	CA		—	(4)		1,796,664		22,828,895		24,625,559		167,122				1,796,664		22,996,017		24,792,681		483,354	1981	5/10/2022
St. Johns Commons Rd, St. Johns	FL		—	(4)		1,099,464		14,432,172		15,531,636		64,721				1,099,464		14,496,893		15,596,357		270,182	2017	5/17/2022
Mills Station Rd, Sacramento	CA		—	(4)		2,685,588		13,075,090		15,760,678		1,231				2,685,588		13,076,321		15,761,909		260,320	1979	6/1/2022
Happy Valley Rd, Phoenix	AZ		—	(4)		542,935		9,132,940		9,675,875		10,021				542,935		9,142,961		9,685,896		168,415	1941	6/1/2022
West Rd, Houston	TX		—	(4)		1,310,537		16,908,880		18,219,417		2,700				1,310,537		16,911,580		18,222,117		302,348	2018	6/1/2022
Capitol Dr, Milwaukee	WI		—	(4)		1,065,590		11,782,373		12,847,963		78,826				1,065,590		11,861,199		12,926,789		216,250	1996	6/1/2022
Bothell Everett, Mill Creek	WA		—	(4)		4,814,088		28,674,527		33,488,615		241,791				4,814,088		28,916,318		33,730,406		594,238	2003	6/1/2022
12th Ave, Homestead	FL		—	(4)		1,607,054		32,909,667		34,516,721		16,865				1,607,054		32,926,532		34,533,586		568,497	2019	6/1/2022
16900 State Rd, Lutz	FL		—	(4)		2,674,729		26,985,047		29,659,776		—				2,674,729		26,985,047		29,659,776		471,954	2019	6/1/2022
34th St, St. Petersburg	FL		—	(4)		1,896,569		23,290,141		25,186,710		—				1,896,569		23,290,141		25,186,710		423,797	2020	6/1/2022
Durango, Las Vegas	NV		—	(4)		2,355,229		26,030,925		28,386,154		—				2,355,229		26,030,925		28,386,154		445,180	2019	6/1/2022
93rd Ave SW, Olympia	WA		—	(4)		2,159,298		18,458,512		20,617,810		75,777				2,159,298		18,534,289		20,693,587		353,379	2006	6/1/2022
Aurora IV	CO		—			1,222,564		10,445,390		11,667,954		107,697				1,222,564		10,553,087		11,775,651		169,646	2018	6/28/2022
Corporate Office	CA		3,925,446			975,000		5,525,000		6,500,000		696,545				975,000		6,221,545		7,196,545		564,950	2018	1/24/2019
		$	304,757,639		$	419,364,049	$	1,402,876,722	$	1,822,240,771	$	64,964,874			$	420,522,591	$	1,466,683,054	$	1,887,205,645	$	202,682,688

(1) The aggregate cost of real estate for United States federal income tax purposes is approximately $1,880,795,210

(2) This property is located in Ontario, Canada.

(3) The change in cost at these self storage facilities are the net of the impact of foreign exchange rate changes and any actual additions.

(4) The equity interest in these wholly-owned subsidiaries that directly own these unencumbered real estate assets comprise the borrowing base of the KeyBank Credit Facility and such equity interests were pledged as of December 31, 2022 for the benefit of the lenders thereunder.

Activity in real estate facilities during 2022, 2021, and 2021 was as follows:


	2022			2021			2020
Real estate facilities
Balance at beginning of year	$	1,593,623,628		$	1,210,102,582		$	1,173,825,368
Facility acquisitions		298,341,568			371,507,610			—
Impact of foreign exchange rate changes		(12,984,154	)		(138,457	)		4,147,798
Improvements and additions		8,224,603			12,151,893			32,129,416
Other facility acquisitions		—			15,689,143			—
Disposition due to deconsolidation		—			(15,689,143	)		—
Balance at end of year	$	1,887,205,645		$	1,593,623,628		$	1,210,102,582
Accumulated depreciation
Balance at beginning of year	$	(155,926,875	)	$	(115,903,045	)	$	(83,692,491	)
Asset disposals		—			—			—
Depreciation expense		(48,400,073	)		(40,158,233	)		(31,711,102	)
Disposition due to deconsolidation		—			62,466			—
Impact of foreign exchange rate changes		1,644,260			71,937			(499,452	)
Balance at end of year	$	(202,682,688	)	$	(155,926,875	)	$	(115,903,045	)
Construction in process
Balance at beginning of year	$	1,799,004		$	1,761,303		$	12,237,722
Net additions and assets placed into service		2,691,922			37,701			(10,476,419	)
Balance at end of year	$	4,490,926		$	1,799,004		$	1,761,303
Real estate facilities, net	$	1,689,013,883		$	1,439,495,757		$	1,095,960,840