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Real Estate Facilities - Summary of Relative Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($)
Sep. 30, 2023
 [1]
Dec. 31, 2022
Jun. 01, 2022
Nov. 10, 2020
Assets Acquired:        
Buildings $ 23,696,536 $ 298,341,568    
Intangible assets [2]     $ 15,688,002  
Total assets acquired [3] $ 23,696,536 308,795,566    
Liabilities assumed:        
Debt [4]       $ 81,165,978
Total liabilities assumed [5]     2,143,313  
Strategic Storage Trust IV, Inc.        
Assets Acquired:        
Land       54,385,560
Buildings       257,618,228
Site improvements       12,340,848
Construction in progress       1,467,090
Intangible assets       20,052,449
Investments in real estate joint ventures       17,495,254
Cash and cash equivalents, and restricted cash       7,763,490
Other assets       4,145,394
Total assets acquired       375,268,313
Liabilities assumed:        
Accounts payable and other liabilities       8,074,162
Total liabilities assumed       89,240,140
Total net assets acquired       $ 286,028,173
SSGT II Merger Agreement        
Assets Acquired:        
Land     21,111,616  
Buildings   228,359,718 201,026,974  
Site improvements     6,221,128  
Construction in progress     252,925  
Intangible assets [6]     15,688,002  
Investments in real estate joint ventures     7,394,539  
Cash and cash equivalents, and restricted cash     10,759,283  
Other assets     847,359  
Total assets acquired   $ 236,092,680 [3],[7] 263,301,826  
Liabilities assumed:        
Total liabilities assumed [5]     2,143,313  
Total net assets acquired     $ 261,158,513  
[1] This property commenced formal operations in October of 2023.
[2] Approximately $8.0 million of the intangible assets acquired relates to the value of a purchase and sale agreement for the acquisition of a property in San Gabriel, CA that we assumed in the SSGT II Merger. The remainder of the intangible asset relates to value ascribed to the in-place leases on the properties acquired.
[3] The allocations noted above are based on a determination of the relative fair value of the total consideration provided and represent the amount paid including capitalized acquisition costs.
[4] Debt assumed includes approximately $40.5 million of debt on the KeyBank SST IV CMBS Loan, a $0.1 million fair market value discount on such debt, and the approximately $40.8 million SST IV TCF Loan. See Note 5 – Debt for additional information.
[5] Liabilities assumed represents accounts payable and other liabilities.
[6] Approximately $8.0 million of the intangible assets acquired related to the intrinsic value of a purchase and sale agreement for the acquisition of a property in San Gabriel, CA that we assumed in the SSGT II Merger and acquired on July 13, 2023. The remainder of the intangible asset relates to value ascribed to the in-place leases on the properties acquired.
[7] This acquisition consisted of ten properties, three in Florida, one in Wisconsin, two in Washington, one in Texas, one in California, one in Arizona, and one in Nevada. Other assets and liabilities were also acquired in this acquisition, which are not described immediately above; refer to the disclosure within this footnote to the financial statements further above for additional information.