Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 623,046	$ 701,677
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	309,914	208,396
Amortization of deferred financing costs	9,716	6,352
Non-cash interest expense related to fair value of Life Storage public bonds and amortization of discount on equity portion of exchangeable senior notes	8,228	0
Non-cash lease expense	1,448	1,441
Compensation expense related to stock-based awards	19,433	15,431
Accrual of interest income added to principal of debt securities and notes receivable	(30,127)	(28,514)
Gain on real estate transactions	0	(14,249)
Distributions from unconsolidated real estate ventures	11,484	9,380
Changes in operating assets and liabilities:
Other assets	(33,123)	(4,207)
Accounts payable and accrued expenses	134,310	48,898
Other liabilities	(16,370)	3,416
Net cash provided by operating activities	1,037,959	948,021
Cash flows from investing activities:
Acquisition of real estate assets and improvements	(197,333)	(1,124,777)
Life Storage Merger, net of cash acquired	(1,182,411)	0
Cash paid for business combination	0	(157,301)
Development and redevelopment of real estate assets	(66,533)	(31,652)
Proceeds from sale of real estate assets and investments in real estate ventures	2,132	39,367
Investment in unconsolidated real estate entities	(179,258)	(102,670)
Return of investment in unconsolidated real estate ventures	0	342
Issuance and purchase of notes receivable	(210,712)	(314,542)
Principal payments received from notes receivable	73,514	264,774
Proceeds from sale of notes receivable	134,064	203,695
Purchase of equipment and fixtures	(9,515)	(19,490)
Net cash used in investing activities	(1,636,052)	(1,242,254)
Cash flows from financing activities:
Proceeds from notes payable and revolving lines of credit	5,194,665	3,983,865
Principal payments on notes payable and revolving lines of credit	(4,617,755)	(3,341,881)
Proceeds from issuance of public bonds, net	950,000	396,100
Deferred financing costs	(51,359)	(7,618)
Repurchase of common stock	0	(63,008)
Redemption of Operating Partnership units held by noncontrolling interests	0	(3,504)
Dividends paid on common stock	(704,069)	(604,429)
Distributions to noncontrolling interests	(43,003)	(42,632)
Net cash provided by financing activities	723,479	312,393
Net increase in cash, cash equivalents, and restricted cash	125,386	18,160
Cash, cash equivalents, and restricted cash, beginning of the period	97,735	76,194
Cash, cash equivalents, and restricted cash, end of the period	223,121	94,354
Cash and cash equivalents	216,121	86,991
Restricted cash	7,000	7,363
Total	223,121	94,354
Supplemental schedule of cash flow information
Interest paid	207,569	137,683
Income taxes paid	20,222	14,489
Redemption of Operating Partnership units held by noncontrolling interests for common stock
Noncontrolling interests in Operating Partnership	116,336	0
Common stock and paid-in capital	(11,336)	0
Noncontrolling interests in Operating Partnership Note Receivable Payoff	(100,000)	0
OP Unit Redemption - Cash Proceeds	(5,000)	0
Acquisition and establishment of operating lease right of use assets and lease liabilities
Real estate assets - operating lease right-of-use assets	265	1,689
Operating lease liabilities	(265)	(1,689)
Acquisitions of real estate assets
Real estate assets, net	0	173,873
Value of equity issued	0	(165,965)
Investment in unconsolidated real estate ventures	0	(1,085)
Finance lease liability	0	(6,823)
Life Storage Merger real estate assets
Real estate assets, net	13,575,501	0
Accounts payable, accrued expenses and other liabilities	(191,077)	0
Equity investment in joint venture partnerships	325,250	0
Accrued construction costs and capital expenditures
Acquisition of real estate assets	6,835	368
Accounts payable and accrued expenses	(6,835)	(368)
Redemption of Preferred Operating Partnership units for common stock
Preferred Operating Partnership units	33,403	0
Additional paid-in capital	(33,403)	0
Life Storage, Inc
Life Storage Merger real estate assets
Unsecured senior notes	(2,106,866)
Series A Units
Cash flows from financing activities:
Redemption of Preferred A Units for cash	(5,000)	0
Series B Units
Cash flows from financing activities:
Redemption of Preferred A Units for cash	0	(4,500)
Preferred OP Units
Issuance of OP and Preferred OP units in conjunction with business combination
OP units issued	0	(6,000)
Common OP Units
Issuance of OP and Preferred OP units in conjunction with business combination
OP units issued	0	(16,000)
Common stock
Life Storage Merger real estate assets
Value of Preferred Operating Partnership units issued	(11,353,338)	0
Noncontrolling Interest - Operating Partnership
Life Storage Merger real estate assets
Value of Preferred Operating Partnership units issued	$ (249,470)	$ 0