XML 21 R11.htm IDEA: XBRL DOCUMENT v3.24.2.u1
SELF STORAGE PROPERTIES
 6 Months Ended
Jun. 30, 2024
Real Estate [Abstract]  
SELF STORAGE PROPERTIES SELF STORAGE PROPERTIES
Self storage properties are summarized as follows (dollars in thousands):
June 30, 2024December 31, 2023
Land$1,038,183 $1,035,562 
Buildings and improvements4,768,865 4,746,105 
Furniture and equipment11,340 10,507 
Total self storage properties5,818,388 5,792,174 
Less accumulated depreciation(961,977)(874,359)
Self storage properties, net$4,856,411 $4,917,815 
Depreciation expense related to self storage properties amounted to $45.4 million and $53.1 million during the three months ended June 30, 2024 and 2023, respectively and $90.8 million and $105.2 million during the six months ended June 30, 2024 and 2023, respectively.