Store Acquisitions and Dispositions

9 Months Ended

Sep. 30, 2018

STORE ACQUISITIONS AND DISPOSITIONS

The following table shows the Company’s acquisitions of stores for the three and nine months ended September 30, 2018 and 2017. The table excludes purchases of raw land or improvements made to existing assets. All acquisitions are considered asset acquisitions under ASU 2017-01, "Business Combinations (Topic 805): Clarifying the Definition of a Business."



		Consideration Paid																	Total
Quarter	Number of Stores	Total		Cash Paid		Loan Assumed		Non- controlling interests		Investments in Real Estate Ventures			Net Liabilities/ (Assets) Assumed			Value of OP Units Issued		Number of OP Units Issued	Real estate assets
Q3 2018	6	$	74,694	$	71,989	$	—	$	—	$	—		$	2,705		$	—	—	$	74,694
Q2 2018⁽¹⁾	17	237,284		148,650		87,500		—		(1,024		)	281			1,877		21,768	237,284
Q1 2018⁽¹⁾	5	70,787		70,171		—		—		489			127			—		—	70,787
	28	$	382,765	$	290,810	$	87,500	$	—	$	(535	)	$	3,113		$	1,877	21,768	$	382,765

Q3 2017	4	$	31,966	$	29,919	$	—	$	—	$	—		$	47		$	2,000	25,520	$	31,966
Q2 2017	3	34,641		16,608		9,463		1,827		—			(67		)	6,810		272,400	34,641
Q1 2017	2	25,556		25,541		—		—		—			15			—		—	25,556
	9	$	92,163	$	72,068	$	9,463	$	1,827	$	—		$	(5	)	$	8,810	297,920	$	92,163

⁽¹⁾ Store acquisitions during the nine months ended September 30, 2018 include the purchase of 15 stores previously held in joint ventures where the Company held a noncontrolling interest. The Company purchased its partners' remaining equity interests in the joint ventures, and the properties owned by the joint ventures became wholly owned by the Company.

Store Dispositions

On August 16, 2018, the Company closed on the sale of a store located in California that had been classified as held for sale for $40,235 in cash. The Company recorded a gain on the sale of $30,671.

On September 13, 2017, the Company closed on the sale of a parcel of land located in New York that had been classified as

held for sale for $19,000 in cash. This parcel of land had been written down to its fair value less selling costs during the six

months ended June 30, 2017, and a loss of $3,500 was recorded. Therefore no additional gain or loss was recorded related to this sale at the time of closing.