1.0.0.3 false Disposition of an Interest in Shurgard Europe false 1 $ false false Unit_1 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit_2 Standard http://www.xbrl.org/2003/instance pure xbrli 0 Unit_3 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Unit_4 Standard http://www.xbrl.org/2003/instance shares xbrli 0 2 Disposition of an Interest in Shurgard Europe 0 psa_DispositionOfInterestInShurgardEurope psa false na duration string Disposition of an Interest in Shurgard Europe false false false false false true false false false 1 false false 0 0 false false Disposition of an Interest in Shurgard Europe false 3 Disposition of interest 1 psa_DispositionOfInterest psa false na duration string Represents the full disclosure or disclosures related to the disposition of a portion of our interest in our European... false false false false false false false false false 1 false false 0 0 <div> <div><div><div> <div> <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0"> <tr valign="top"> <td style="width: 18pt;"> <div style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;"><font class="_mt" style="display: inline; font-size: 10pt; font-family: Times New Roman;">3.</font></div> </td> <td> <div align="justify"><font class="_mt" style="display: inline; font-size: 10pt; font-family: Times New Roman;"><font class="_mt" style="display: inline; text-decoration: underline;">Disposition of an Interest in Shurgard Europe</font></font></div> </td> </tr> </table> </div> <div style="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;" align="justify">  </div> <div style="display: block; margin-left: 18pt; text-indent: 36pt; margin-right: 0pt;" align="justify"><font class="_mt" style="display: inline; font-size: 10pt; font-family: Times New Roman;">On March 31, 2008, an institutional investor acquired a 51% interest in Shurgard European Holdings LLC (“Shurgard Holdings”), a newly formed Delaware limited liability company and the holding company for Shurgard Europe.  We own the remaining 49% interest and are the managing member of Shurgard Holdings.</font></div> <div style="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;" align="justify">  </div> <div style="display: block; margin-left: 18pt; text-indent: 36pt; margin-right: 0pt;" align="justify"><font class="_mt" style="display: inline; font-size: 10pt; font-family: Times New Roman;">Our net proceeds from the transaction aggregated $609,059,000, comprised of $613,201,000 paid by the institutional investor less $4,142,000 in legal, accounting, and other expenses incurred in connection with the transaction.  As a result of the disposition, we reduced our investment in Shurgard Europe by approximately $302,228,000 for the pro rata portion of our March 31, 2008 investment that was sold, and a total of  $344,685,000 was reflected on our consolidated statement of income as “gains on disposition of real estate investments, net,” representing  i) the difference between the net proceeds received of $609,059,000 and the pro rata portion of our investment sold of $302,228,000, and ii) the realization of $37,854,000 in foreign exchange gains, representing 51% (the pro rata portion of Shurgard Europe that was sold) in cumulative foreign exchange gains for Shurgard Europe previously recognized in Other Comprehensive Income.</font></div> <div style="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;" align="justify">  </div> <div style="display: block; margin-left: 18pt; text-indent: 36pt; margin-right: 0pt;" align="justify"><font class="_mt" style="display: inline; font-size: 10pt; font-family: Times New Roman;">The results of operations of Shurgard Europe have been included in our consolidated statements of income for the year ended December 31, 2007 and the three months ended March 31, 2008.  Commencing on April 1, 2008, our pro rata share of operations of Shurgard Europe is reflected on our consolidated statement of income under equity in earnings of real estate entities.</font></div> <div style="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt;" align="justify">  </div> </div></div></div> </div> 3. Disposition of an Interest in Shurgard Europe    On March 31, 2008, an institutional investor acquired a 51% interest in Shurgard European false false Represents the full disclosure or disclosures related to the disposition of a portion of our interest in our European operations. No authoritative reference available. false false 1 2 false UnKnown UnKnown UnKnown false true