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Acquisitions and Dispositions (Tables)
 6 Months Ended
Jun. 30, 2024
Real Estate [Abstract]  
Asset Acquisitions The following table summarizes the fair value of total consideration transferred in the Life Storage Merger:
Consideration TypeJuly 20, 2023
Common stock$11,353,338 
OP units249,470 
Cash for payoff of Life Storage credit facility and debt1,192,000 
Transaction Costs55,318 
Total consideration$12,850,127 


The following table summarizes the estimated fair values assigned to the assets acquired and liabilities assumed:
July 20, 2023
Real estate assets$14,587,735 
Equity investment in joint venture partnerships325,250 
Cash and other assets107,423 
Intangible assets - other82,000 
Trade name50,000 
Unsecured senior notes(2,106,866)
Accounts payable, accrued expenses and other liabilities(191,077)
Noncontrolling interests(4,338)
Fair value of net assets acquired$12,850,127 
All store acquisitions are considered asset acquisitions under ASU 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business.”
Total
PeriodNumber of StoresCash PaidFinance Lease LiabilityInvestments in Real Estate VenturesNet Liabilities/ (Assets) AssumedValue of Equity IssuedReal estate assets
Q2 20243$27,644 $— $— $97 $— $27,741 
Q1 20246$35,084 $— $— $171 $— $35,255 
Total 20249$62,728 $— $— $268 $— $62,996 
Q2 2023332,888 — — 26 — 32,914 
Q1 2023113,111 — — 6 — 13,117 
Total 20234$45,999 $— $— $32 $— $46,031