SELF STORAGE PROPERTIES

12 Months Ended

Dec. 31, 2020

Real Estate [Abstract]

SELF STORAGE PROPERTIES

SELF STORAGE PROPERTIES

Self storage properties are summarized as follows (dollars in thousands):

	December 31,
	2020		2019
Land	$	738,863	$	649,938
Buildings and improvements	2,892,490		2,435,171
Furniture and equipment	7,839		6,610
Total self storage properties	3,639,192		3,091,719
Less accumulated depreciation	(443,623)		(337,822)
Self storage properties, net	$	3,195,569	$	2,753,897

Depreciation expense related to self storage properties amounted to $105.9 million, $92.2 million and $76.3 million for the years ended December 31, 2020, 2019 and 2018, respectively.