STORAGE PROPERTIES (Tables)

9 Months Ended

Sep. 30, 2020

STORAGE PROPERTIES

Summary of real estate assets

	September 30,		December 31,
	2020		2019
	(in thousands)
Land	$	908,051	$	858,541
Buildings and improvements		3,692,519		3,619,594
Equipment		125,204		128,111
Construction in progress		88,487		93,598
Storage properties		4,814,261		4,699,844
Less: Accumulated depreciation		(980,312)		(925,359)
Storage properties, net	$	3,833,949	$	3,774,485

Schedule of acquisitions and dispositions of real estate assets

The following table summarizes the Company’s acquisition and disposition activity during the period beginning on January 1, 2019 through September 30, 2020.

			Number of	Purchase / Sale Price
Asset/Portfolio	Metropolitan Statistical Area	Transaction Date	Stores	(in thousands)
2020 Acquisitions:
Texas Asset	San Antonio, TX	February 2020	1	$	9,025
Maryland Asset	Baltimore-Towson, MD	April 2020	1		17,200
New Jersey Asset	New York-Northern New Jersey-Long Island, NY-NJ-PA	April 2020	1		48,450
			3	$	74,675
2019 Acquisitions:
Maryland Asset	Baltimore-Towson, MD	March 2019	1	$	22,000
Florida Assets	Cape Coral-Fort Myers, FL	April 2019	2		19,000
Arizona Asset	Phoenix-Mesa-Scottsdale, AZ	May 2019	1		1,550
HVP III Assets	Various (see note 4)	June 2019	18		128,250	(1)
Georgia Asset	Atlanta-Sandy Springs-Marietta, GA	August 2019	1		14,600
South Carolina Asset	Charleston-North Charleston, SC	August 2019	1		3,300
Texas Asset	Dallas-Fort Worth-Arlington, TX	October 2019	1		7,300
Florida Assets	Orlando-Kissimmee, FL	November 2019	3		32,100
California Asset	Los Angeles-Long Beach-Santa Ana, CA	December 2019	1		18,500
			29	$	246,600
2019 Disposition:
Texas Asset	College Station-Bryan, TX	October 2019	1	$	4,146
			1	$	4,146

(1) Amount represents the purchase price for 90% of the ownership interest in 191 III CUBE LLC (“HVP III”), which, at the time of the acquisition, owned 18 storage properties (see note 4).