CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	9 Months Ended
	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)
Operating Activities
Net income	$ 124,653	$ 128,261
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	121,075	124,566
Equity in losses (earnings) of real estate ventures	216	(10,940)
Equity compensation expense	5,374	4,990
Accretion of fair market value adjustment of debt	(530)	(541)
Changes in other operating accounts:
Other assets	(6,964)	(8,094)
Accounts payable and accrued expenses	21,854	19,336
Other liabilities	2,153	2,274
Net cash provided by operating activities	267,831	259,852
Investing Activities
Acquisitions of storage properties	(82,968)	(63,499)
Additions and improvements to storage properties	(41,968)	(28,520)
Development costs	(34,163)	(94,251)
Cash paid for partner's interest in real estate venture, net of cash, cash equivalents and restricted cash acquired		(117,959)
Investment in real estate ventures	(5,914)	(6,558)
Cash distributed from real estate ventures	4,566	5,513
Net cash used in investing activities	(160,447)	(305,274)
Proceeds from:
Unsecured senior notes		347,746
Revolving credit facility	273,774	856,011
Principal payments on:
Revolving credit facility	(236,474)	(917,494)
Unsecured term loans		(200,000)
Mortgage loans and notes payable	(1,898)	(11,027)
Loan procurement costs		(3,104)
Settlement of hedge transactions		(807)
Acquisition of noncontrolling interest in subsidiary, net		(35,408)
Proceeds from issuance of common shares, net	(232)	196,333
Cash paid upon vesting of restricted shares	(665)	(400)
Exercise of stock options	626	3,666
Contributions from noncontrolling interests in subsidiaries		48
Distributions paid to noncontrolling interests in subsidiaries	(161)	(142)
Distributions paid to common shareholders	(192,160)	(181,811)
Distributions paid to noncontrolling interests in Operating Partnership	(1,917)	(1,823)
Net cash (used in) provided by financing activities	(159,107)	51,788
Change in cash, cash equivalents and restricted cash	(51,723)	6,366
Cash, cash equivalents and restricted cash at beginning of period	58,441	6,482
Cash, cash equivalents and restricted cash at end of period	6,718	12,848
Supplemental Cash Flow and Noncash Information
Cash paid for interest, net of interest capitalized	62,937	53,176
Supplemental disclosure of noncash activities:
Acquisitions of storage properties	(2,623)
Proceeds held in escrow from real estate venture's sale of real estate (see note 4)		8,288
Noncash consideration for acquisition of partner's interest in real estate venture (see note 4)		(8,288)
Discount on issuance of unsecured senior notes		2,254
Noncash drawdown on revolving credit facility		103,938
Repayment of unsecured term loan through noncash drawdown on revolving credit faciltiy		(100,000)
Accretion of put liability	4,716	4,671
Derivative valuation adjustment	60	282
Loan procurement costs		(3,770)
Issuance of OP units (see Note 4)	$ 9,000
Acquisition of noncontrolling interest in subsidiary		(4,828)
Contributions from noncontrolling interests in subsidiaries		$ 7,328