XML 69 R25.htm IDEA: XBRL DOCUMENT v3.25.0.1
Schedule III - Reconciliation
 12 Months Ended
Dec. 31, 2024
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]  
SEC Schedule III - Reconciliation
LocationInitial Cost to CompanyGross Carrying Amount at Year-End
State/TerritoryNumber of StoresLandBuildings and
Improvements		Subsequent
Additions		LandBuildings and
Improvements
Total(1)
Accumulated
Depreciation		Date
Acquired
Alabama11$13,838 $79,025 $5,513 $14,696 $83,680 $98,376 $12,922 2016 - 2022
Arkansas54,302 31,721 703 4,302 32,424 36,726 4,420 2021 - 2022
Arizona3448,477 162,188 13,572 48,580 175,657 224,237 49,182 2013 - 2023
California(2)(3)
86152,183 498,138 39,653 152,285 537,689 689,974 174,078 2008 - 2023
Colorado2223,387 94,957 7,605 23,386 102,563 125,949 22,525 2007 - 2022
Connecticut32,515 16,119 613 2,515 16,732 19,247 2,370 2020 - 2022
Florida(2)
79150,849 580,132 28,412 153,808 605,585 759,393 105,755 2015 - 2024
Georgia5044,852 219,051 14,436 45,402 232,937 278,339 53,245 2007 - 2022
Iowa34,223 25,386 4,473 4,365 29,717 34,082 4,165 2021 - 2021
Idaho53,177 16,287 280 3,182 16,562 19,744 3,809 2019 - 2020
Illinois69,310 50,259 1,199 9,310 51,458 60,768 7,129 2021
Indiana129,281 65,506 1,087 8,737 67,137 75,874 18,438 2016 - 2021
Kansas1410,133 49,697 7,947 11,116 56,661 67,777 14,015 2018 - 2021
Kentucky58,802 37,015 1,062 8,802 38,077 46,879 6,933 2015 - 2021
Louisiana(3)
2516,903 99,694 6,632 17,917 105,312 123,229 26,694 2015 - 2021
Massachusetts78,839 65,291 17,972 10,814 81,288 92,102 12,422 2017 - 2021
Maryland89,131 59,650 2,525 10,654 60,652 71,306 12,166 2017 - 2021
Minnesota44,081 16,382 215 4,081 16,597 20,678 2,622 2020 - 2022
Missouri32,944 21,645 331 2,944 21,976 24,920 3,146 2018 - 2022
Montana11,476 6,656 144 1,476 6,800 8,276 1,099 2021
North Carolina(2)
3546,521 154,942 10,098 47,745 163,816 211,561 44,385 2007 - 2024
New Hampshire1520,987 81,629 7,374 20,991 88,999 109,990 21,196 2013 - 2021
New Jersey54,072 32,873 1,773 4,072 34,646 38,718 8,623 2019 - 2021
New Mexico1011,509 58,424 4,470 12,553 61,850 74,403 10,687 2016 - 2022
Nevada1522,877 68,230 8,255 23,007 76,355 99,362 21,452 2013 - 2023
New York23,398 33,882 395 3,398 34,277 37,675 3,705 2020 - 2022
Ohio12,059 11,660 97 2,059 11,757 13,816 3,115 2018 - 2018
Oklahoma3320,429 77,337 12,039 20,429 89,376 109,805 37,224 2007 - 2020
Oregon7085,970 303,534 23,305 88,666 324,143 412,809 93,196 2013 - 2021
Pennsylvania2226,091 129,941 5,692 26,242 135,482 161,724 24,899 2019 - 2022
Puerto Rico1512,504 220,831 4,008 12,504 224,839 237,343 27,984 2018 - 2023
South Carolina411,250 43,882 288 11,095 44,325 55,420 4,812 2015 - 2022
LocationInitial Cost to CompanyGross Carrying Amount at Year-End
State/TerritoryNumber of StoresLandBuildings and
Improvements		Subsequent
Additions		LandBuildings and
Improvements
Total(1)
Accumulated
Depreciation		Date
Acquired
Tennessee57,425 38,568 677 7,425 39,245 46,670 5,103 2021 - 2021
Texas175199,739 973,648 59,477 201,447 1,031,417 1,232,864 180,370 2007 - 2024
Utah11,063 2,468 161 1,063 2,629 3,692 459 2021
Virginia34,254 23,879 233 4,254 24,112 28,366 4,648 2017 - 2022
Washington1920,409 78,144 2,388 20,411 80,530 100,941 20,816 2013 - 2021
Wisconsin1940 4,385 64 940 4,449 5,389 862 2021
Wyoming1743 4,881 86 743 4,967 5,710 967 2021
Total815$1,030,943 $4,537,937 $295,254 $1,047,416 $4,816,718 $5,864,134 $1,051,638 
(1) The aggregate cost of land and depreciable property for federal income tax purposes was approximately $5.1 billion (unaudited) at December 31, 2024.
(2) As of December 31, 2024, 42 of our self storage properties were encumbered by an aggregate of $200.8 million of debt financing.
(3) Six of the California properties and one of the Louisiana properties are subject to long-term leasehold agreements.
Note: The Company only owns one class of real estate, which is self storage properties. The estimated useful lives of the individual assets that comprise buildings and improvements range from 3 years to 40 years. The category for buildings and improvements in the table above includes furniture and equipment.

202420232022
Self Storage properties:
Balance at beginning of year$5,792,174 $6,391,572 $5,798,188 
Acquisitions and improvements
81,156 258,560 602,082 
Write-off of fully depreciated assets and other
(1,218)(767)(1,145)
Dispositions(7,978)(226,379)(7,553)
Reclassification to assets held for sale— (630,812)— 
Balance at end of year$5,864,134 $5,792,174 $6,391,572 
Accumulated depreciation:
Balance at beginning of year$874,359 $772,661 $578,717 
Depreciation expense181,326 210,216 196,207 
Write-off of fully depreciated assets and other
(925)(124)(371)
Dispositions(3,122)(27,781)(1,892)
Reclassification to assets held for sale— (80,613)— 
Balance at end of year$1,051,638 $874,359 $772,661