INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES (Tables)

12 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Schedule of condensed financial information of unconsolidated real estate ventures

	December 31,
	2019		2018
ASSETS
Self storage properties, net	$	1,835,235	$	1,894,412
Other assets	22,413		50,915
Total assets	$	1,857,648	$	1,945,327
LIABILITIES AND EQUITY
Debt financing	$	989,182	$	956,357
Other liabilities	20,487		16,516
Equity	847,979		972,454
Total liabilities and equity	$	1,857,648	$	1,945,327

The following table presents the combined condensed operating information of the Company's unconsolidated real estate ventures for the years ended December 31, 2019 and 2018 and the period ended December 31, 2017 (in thousands):

	Year Ended December 31,
	2019		2018		2017
Total revenue	$	162,827	$	94,507	$	54,747
Property operating expenses	49,845		30,229		18,463
Net operating income	112,982		64,278		36,284
Supervisory, administrative and other expenses	(10,818)		(6,397)		(3,921)
Depreciation and amortization	(79,556)		(40,930)		(29,192)
Interest expense	(39,936)		(20,718)		(11,389)
Loss on sale of self storage properties	(806)		(820)		—
Acquisition and other expenses	(1,971)		(1,188)		(1,146)
Net loss	$	(20,105)	$	(5,775)	$	(9,364)