Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 419,486	$ 424,190
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	391,775	157,576
Amortization of deferred financing costs	7,739	5,470
Non-cash interest expense related to amortization of discount on Life Storage unsecured senior notes	21,558	0
Compensation expense related to share-based awards	6,192	12,439
Accrual of interest income added to principal of debt securities and notes receivable	(16,100)	(16,200)
Loss on real estate assets held for sale	54,659	0
Distributions from unconsolidated real estate ventures	14,540	7,594
Changes in operating assets and liabilities:
Other assets	(2,518)	(28,129)
Accounts payable and accrued expenses	42,669	37,176
Other liabilities	70,800	29,411
Net cash provided by operating activities	1,010,800	629,527
Cash flows from investing activities:
Acquisition of real estate assets and improvements	(157,329)	(127,416)
Development and redevelopment of real estate assets	(69,384)	(37,244)
Proceeds from sale of real estate assets and investments in real estate ventures	0	1,046
Investment in unconsolidated real estate entities	(10,789)	(171,126)
Return of investment in unconsolidated real estate ventures	4,200	0
Issuance and purchase of notes receivable	(569,268)	(124,103)
Principal payments received from notes receivable	47,455	46,466
Proceeds from sale of notes receivable	0	60,696
Purchase of equipment and fixtures	(9,652)	(5,905)
Net cash used in investing activities	(764,767)	(357,586)
Cash flows from financing activities:
Proceeds from unsecured term loans and senior notes and revolving lines of credit	3,263,470	2,479,592
Principal payments on unsecured term loans and senior notes and revolving lines of credit	(3,407,382)	(3,246,378)
Proceeds from issuance of public bonds, net	600,000	950,000
Deferred financing costs	(5,719)	(28,151)
Proceeds from share issuances and redemption of stock options for cash, net	366	0
Redemption of Operating Partnership units for cash	0	(5,000)
Offering costs associated with shelf registration	(494)	0
Dividends paid on common stock	(687,636)	(438,783)
Distributions to noncontrolling interests	(32,177)	(28,043)
Net cash used in financing activities	(269,572)	(316,763)
Net decrease in cash, cash equivalents, and restricted cash	(23,539)	(44,822)
Cash, cash equivalents, and restricted cash, beginning of the period	105,083	97,735
Cash, cash equivalents, and restricted cash, end of the period	81,544	52,913
Cash and cash equivalents	76,973	50,644
Restricted cash	4,571	2,269
Cash, cash equivalents, and restricted cash	81,544	52,913
Supplemental schedule of cash flow information
Interest paid	230,242	150,459
Income taxes paid	22,034	11,831
Redemption of Operating Partnership units held by noncontrolling interests for common stock
Noncontrolling interests in Operating Partnership	54,491	149,739
Common stock and paid-in capital	(54,491)	(44,739)
Noncontrolling interests in Operating Partnership Note Receivable Payoff	0	(100,000)
OP Unit Redemption - Cash Proceeds	0	(5,000)
Accrued Construction Costs And Capital Expenditures [Abstract]
Acquisition of real estate assets	4,754	4,503
Accounts payable and accrued expenses	$ (4,754)	$ (4,503)