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Real Estate Facilities (Tables)
 12 Months Ended
Dec. 31, 2022
Real Estate [Abstract]  
Summary of Activity in Real Estate Facilities

The following summarizes the activity in real estate facilities during the year ended December 31, 2022:

 

Real estate facilities

 

 

 

Balance at December 31, 2021

 

$

75,356,725

 

Facility acquisitions

 

 

184,044,871

 

Improvements and additions

 

 

1,746,584

 

Impact of foreign exchange rate changes

 

 

(309,089

)

Balance at December 31, 2022

 

$

260,839,091

 

Accumulated depreciation

 

 

 

Balance at December 31, 2021

 

$

(597,090

)

Depreciation expense

 

 

(4,498,700

)

Impact of foreign exchange rate changes

 

 

2,508

 

Balance at December 31, 2022

 

$

(5,093,282

)

 
Summary of Purchase Price Allocations for Acquisitions

The following table summarizes the purchase price allocations for our acquisitions during the year ended December 31, 2022:

 

Property

 

Acquisition
Date

 

Real Estate
Assets

 

 

Intangibles

 

 

Total(1)

 

 

2022
Revenue(2)

 

 

2022
Property
Operating
Income(2)(3)

 

Vancouver – WA

 

03/29/22

 

$

24,612,304

 

 

$

655,415

 

 

$

25,267,719

 

 

$

810,944

 

 

$

490,237

 

Portland – OR

 

03/31/22

 

$

14,916,544

 

 

$

256,765

 

 

$

15,173,309

 

 

$

473,282

 

 

$

148,294

 

Newark– DE

 

04/26/22

 

$

20,004,449

 

 

$

243,259

 

 

$

20,247,708

 

 

$

417,979

 

 

$

142,882

 

Levittown – PA

 

04/26/22

 

$

21,164,957

 

 

$

260,555

 

 

$

21,425,512

 

 

$

486,145

 

 

$

137,143

 

Chandler – AZ

 

05/17/22

 

$

25,351,752

 

 

$

425,695

 

 

$

25,777,447

 

 

$

609,289

 

 

$

402,972

 

St. Johns – FL

 

07/08/22

 

$

14,167,605

 

 

$

380,645

 

 

$

14,548,250

 

 

$

438,208

 

 

$

274,577

 

Burlington – ONT

 

09/20/22

 

$

26,661,980

 

 

$

848,688

 

 

$

27,510,668

 

 

$

436,352

 

 

$

320,586

 

Oxford – FL

 

09/21/22

 

$

10,717,711

 

 

$

300,096

 

 

$

11,017,807

 

 

$

165,927

 

 

$

96,867

 

Cambridge – ONT

 

12/20/22

 

$

26,447,569

 

 

$

765,826

 

 

$

27,213,395

 

 

$

37,598

 

 

$

23,469

 

 

 

 

 

$

184,044,871

 

 

$

4,136,944

 

 

$

188,181,815

 

 

$

3,875,724

 

 

$

2,037,027

 

 

(1)
The allocations noted above are based on a determination of the relative fair value of the total consideration provided and represent the amount paid for the transaction, including capitalized acquisition costs.
(2)
The operating results of the facilities acquired above have been included in our consolidated statements of operations since their respective acquisition date.
(3)
Property operating income excludes corporate general and administrative expenses, asset management fees, depreciation, amortization, and acquisition expenses.