Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

		Initial Cost to Company						Gross Carrying Amount at December 31, 2023
Description	ST	Encumbrance(2)	Land	Building and Improvements	Total	Cost Capitalized Subsequent to acquisition		Land	Building and Improvements	Total(1)	Accumulated Depreciation	Construction in process	Date of Construction	Date Acquired
Phoenix	AZ	$8,800,000	$2,171,375	$13,783,862	$15,955,237	$152,456		$2,171,375	$13,936,318	$16,107,693	$(1,237,513)	$207,522	2020	5/1/2021
Las Vegas	NV	4,764,241	1,468,351	6,541,089	8,009,440	129,771		1,468,352	6,670,860	8,139,212	(622,413)	—	2020	6/1/2021
Surprise	AZ	7,425,000	1,742,097	11,324,006	13,066,103	186,842		1,742,097	11,510,848	13,252,945	(902,740)	134,379	2017	8/26/2021
Phoenix II	AZ	6,160,000	806,933	10,333,050	11,139,983	169,022		806,933	10,502,072	11,309,005	(679,376)	234,193	2021	11/30/2021
Bradenton	FL	8,607,500	2,293,357	13,212,166	15,505,523	211,611		2,293,357	13,423,777	15,717,134	(833,999)	—	2020	12/30/2021
Apopka	FL	6,070,000	2,329,786	9,125,103	11,454,889	324,440		2,329,786	9,449,543	11,779,329	(606,913)	1,990,727	2021	12/30/2021
Vancouver	WA	13,750,000	1,422,900	23,189,404	24,612,304	298,366		1,422,900	23,487,770	24,910,670	(1,211,917)	—	2020	3/29/2022
Portland	OR	8,250,000	4,298,103	10,618,441	14,916,544	273,130		4,298,103	10,891,571	15,189,674	(584,501)	—	1975 / 2020	3/31/2022
Newark	DE	10,809,000	2,167,103	17,837,346	20,004,449	396,453		2,167,103	18,233,799	20,400,902	(927,495)	—	2021	4/26/2022
Levittown	PA	11,550,000	3,495,978	17,668,979	21,164,957	149,688		3,495,978	17,818,667	21,314,645	(923,189)	253,692	2021	4/26/2022
Chandler	AZ	13,670,000	4,795,960	20,555,792	25,351,752	283,604		4,795,960	20,839,396	25,635,356	(1,226,600)	3,180	1996 / 2022	5/17/2022
St. Johns	FL	6,737,500	3,708,927	10,458,678	14,167,605	323,395		3,708,927	10,782,073	14,491,000	(521,731)	—	2006 / 2007	7/8/2022
Burlington	ONT	11,823,653	10,638,348	15,548,407	26,186,755	601,915	(3)	10,873,314	16,150,322	27,023,636	(703,186)	34,052	1979 / 2001	9/20/2022
Oxford	FL	5,745,000	1,311,463	9,406,248	10,717,711	509,976		1,311,463	9,916,224	11,227,687	(467,872)	—	2001	9/21/2022
Cambridge	ONT	11,348,205	7,537,977	19,075,728	26,613,705	710,327	(3)	7,704,466	19,786,055	27,490,521	(742,245)	—	1965 / 2019	12/20/2022
Edmonton	AB	6,641,612	910,770	10,287,301	11,198,071	99,141	(3)	919,548	10,386,442	11,305,990	(282,972)	82,389	1955 / 2022	1/31/2023
North York	ONT	18,857,500	14,498,382	24,808,502	39,306,884	291,340	(3)	14,638,106	25,099,842	39,737,948	(730,430)	23,869	1986 / 2020	1/31/2023
Bradenton II	FL	—	1,390,987	—	1,390,987	—		1,390,987	—	1,390,987	—	—	N/A	2/16/2023
Etobicoke	ONT	—	1,749,931	—	1,749,931	—		1,808,282	—	1,808,282	—	989,303	N/A	3/27/2023
Vancouver	BC	16,311,738	5,598,559	27,315,073	32,913,632	672,050	(3)	5,735,425	27,987,123	33,722,548	(533,575)	117,188	2022	5/4/2023
Mississauga	ONT	18,555,780	11,551,853	19,595,103	31,146,956	(14,719)	(3)	11,509,131	19,580,384	31,089,515	(312,369)	—	1960 / 2016	6/19/2023
Mississauga II	ONT	20,728,164	5,881,560	29,818,866	35,700,426	21,422	(3)	5,859,809	29,840,288	35,700,097	(470,193)	—	2022	6/19/2023
Burlington II	ONT	11,767,080	9,663,636	9,236,614	18,900,250	5,116	(3)	9,627,896	9,241,730	18,869,626	(155,311)	2,291,756	1982 / 2020	6/19/2023
Toronto	ONT	22,629,000	4,064,015	34,925,565	38,989,580	(64,511)	(3)	4,048,984	34,861,054	38,910,038	(537,012)	—	2018	6/19/2023
Hamilton	ONT	5,521,476	2,065,522	7,202,860	9,268,382	31,190	(3)	2,057,883	7,234,050	9,291,933	(120,291)	9,308	1900 / 2020	6/19/2023
Woodbridge	ONT	16,745,460	7,299,353	20,977,259	28,276,612	(72,604)	(3)	7,285,857	20,904,655	28,190,512	(326,494)	80,074	2017	6/19/2023
Total		$273,267,909	$114,863,226	$392,845,442	$507,708,668	$5,689,421		$115,472,022	$398,534,863	$514,006,885	$(15,660,337)	$6,451,632

1.The aggregate cost of real estate for United States federal income tax purposes is $525,370,569.

2.Excludes unsecured corporate debt.

3.The change in cost at these self storage facilities are the net of the impact of foreign exchange rate changes and any actual additions.

The following summarizes the activity in real estate facilities during the year ended December 31, 2023 and 2022.

	2023			2022
Real estate facilities
Balance at beginning of year	$	260,839,091		$	75,356,725
Facility acquisitions		248,841,711			184,044,871
Improvements and additions		2,395,408			1,746,584
Impact of foreign exchange rate changes		1,930,675			(309,089	)
Balance at end of year	$	514,006,885		$	260,839,091
Accumulated depreciation
Balance at beginning of year	$	(5,093,282	)	$	(597,090	)
Depreciation expense		(10,493,167	)		(4,498,700	)
Impact of foreign exchange rate changes		(73,888	)		2,508
Balance at end of year	$	(15,660,337	)	$	(5,093,282	)
Construction in process	$	6,451,632		$	347,308
Real estate facilities, net	$	504,798,180		$	256,093,117