Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2023

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

Schedule III - Real Estate and Accumulated Depreciation

						Building and Improvements Initial Cost		Adjustments and Costs to Land and Building Subsequent to Acquisition		Gross carrying amount at December 31, 2023
Self - Storage Facilities by State:	Store Count			Land Initial Cost								Building and Improvements				Accumulated Depreciation
		Debt								Land				Total
AL	37	$	5,686	$	52,358	$	380,499	$	5,593	$	52,356	$	386,094	$	438,450	$	18,152
AZ	46	22,349		135,775		523,811		14,566		135,774		538,378		674,152		44,843
CA	218	328,992		921,260		2,322,145		250,704		919,806		2,574,302		3,494,108		436,926
CO	27	26,374		49,985		192,497		20,004		50,703		211,783		262,486		33,009
CT	23	6,399		43,453		373,628		6,530		43,452		380,158		423,610		18,276
FL	245	167,386		672,426		2,894,604		122,780		674,576		3,015,234		3,689,810		239,687
GA	119	78,837		303,954		1,179,911		47,713		303,941		1,227,636		1,531,577		123,363
HI	14	—		29,836		160,978		22,962		29,836		183,939		213,775		43,351
ID	2	—		4,047		25,235		59		4,047		25,294		29,341		812
IL	105	16,231		210,472		1,107,463		43,952		209,924		1,151,964		1,361,888		82,109
IN	91	—		64,531		494,467		14,626		64,875		524,169		589,044		34,445
KS	1	—		366		1,897		1,150		366		3,047		3,413		1,555
KY	15	30,470		10,026		88,389		21,129		10,799		108,745		119,544		21,462
LA	10	—		16,673		126,604		5,591		16,674		132,194		148,868		8,844
MA	64	39,808		120,291		534,152		65,286		120,472		599,257		719,729		123,019
MD	44	74,081		157,195		450,952		36,025		156,605		487,567		644,172		111,043
ME	5	—		2,352		86,339		195		2,352		86,534		88,886		926
MI	8	4,301		10,900		63,388		6,630		10,900		70,018		80,918		13,061
MN	8	—		14,925		104,513		6,940		14,925		111,453		126,378		10,240
MO	28	—		31,800		347,070		8,250		31,758		355,362		387,120		13,743
MS	7	—		9,053		82,098		1,977		9,052		84,076		93,128		5,559
NC	52	—		93,492		557,728		14,431		93,489		572,161		665,650		32,134
NH	17	—		50,952		195,719		1,735		51,015		197,391		248,406		5,097
NJ	88	99,207		308,001		1,071,004		70,630		313,354		1,136,281		1,449,635		209,349
NM	11	25,153		31,826		68,779		6,909		31,826		75,689		107,515		17,000
NV	33	30,458		97,497		469,028		9,504		97,497		478,532		576,029		23,846
NY	79	12,895		340,256		1,195,359		66,207		340,991		1,260,831		1,601,822		105,190
OH	50	10,140		71,460		388,236		13,917		71,459		402,154		473,613		24,721
OK	4	—		3,917		28,534		159		3,917		28,693		32,610		429
OR	8	23,904		15,066		68,044		2,938		15,066		70,982		86,048		14,126
PA	31	10,635		57,671		356,325		29,609		56,997		386,607		443,604		46,425
RI	6	3,712		6,132		55,033		1,793		6,131		56,827		62,958		4,517
SC	40	27,701		65,032		385,333		13,408		65,036		398,737		463,773		41,190
TN	29	44,491		50,603		252,731		15,296		50,603		268,027		318,630		36,356
TX	241	104,794		534,804		2,603,707		97,822		534,655		2,701,678		3,236,333		212,009
UT	10	16,265		9,008		39,295		9,775		9,008		49,070		58,078		15,445
VA	73	56,422		198,998		842,848		37,952		198,998		880,800		1,079,798		127,878
WA	14	4,874		51,011		147,943		13,780		51,013		161,720		212,733		19,542
WI	1	—		1,076		16,054		70		1,076		16,123		17,199		173
DC	1	7,540		14,394		18,172		634		14,394		18,806		33,200		3,904
Other corporate assets		—		—		—		245,910		—		245,910		245,910		92,553
Intangible tenant relationships and lease rights		—		—		348,762		—		—		348,762		348,762		204,135
Construction in Progress/Undeveloped Land		—		22,985		2,779		124,265		34,987		118,745		153,732		—
Right of use asset - finance lease		—		—		—		143,841		—		143,843		143,843		3,960
Totals (1)	1,905	$	1,279,105	$	4,885,859	$	20,652,053	$	1,623,247	$	4,904,705	$	22,275,573	$	27,180,278	$	2,624,404

(1) No right-of-use assets related to operating leases are included in the ending net real estate assets information above.

Activity in real estate facilities during the years ended December 31, 2023, 2022 and 2021 is as follows:

	2023		2022		2021
Operating facilities
Balance at beginning of year	$	12,084,025	$	10,643,722	$	9,507,788
Acquisitions	14,715,285		1,390,463		1,500,703
Improvements	175,932		95,282		80,131
Transfers from construction in progress	87,485		70,565		62,462
Dispositions and other	(1,194)		(116,007)		(507,362)
Balance at end of year	$	27,061,533	$	12,084,025	$	10,643,722
Accumulated depreciation:
Balance at beginning of year	$	2,138,395	$	1,868,321	$	1,681,429
Depreciation expense	486,010		276,155		230,445
Dispositions and other	—		(6,081)		(43,553)
Balance at end of year	$	2,624,405	$	2,138,395	$	1,868,321
Real estate under development/redevelopment:
Balance at beginning of year	$	52,348	$	59,248	$	67,443
Current development	153,920		63,597		54,267
Transfers to operating facilities	(87,523)		(70,565)		(62,462)
Dispositions and other	—		68		—
Balance at end of year	$	118,745	$	52,348	$	59,248
Net non-lease real estate assets	$	24,555,873	$	9,997,978	$	8,834,649

(1) No right-of-use assets related to operating leases are included in the ending net real estate assets information above.

As of December 31, 2023, the aggregate cost of real estate for U.S. federal income tax purposes was $17,961,173.