Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2024

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, 2024
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	$7,586,825	$2,171,375	$13,783,862	$15,955,237	$328,248		$2,171,375	$14,112,110	$16,283,485	$(1,718,679)	$4,844	2020	5/1/2021
Las Vegas	NV	6,407,791	1,468,351	6,541,089	8,009,440	137,766		1,468,352	6,678,855	8,147,207	(869,406)	7,404	2020	6/1/2021
Surprise	AZ	7,535,563	1,742,097	11,324,006	13,066,103	289,162		1,742,097	11,613,168	13,355,265	(1,300,134)	—	2017	8/26/2021
Phoenix II	AZ	5,895,168	806,933	10,333,050	11,139,983	403,983		806,933	10,737,033	11,543,966	(1,022,239)	—	2021	11/30/2021
Bradenton	FL	8,099,448	2,293,357	13,212,166	15,505,523	221,273		2,293,357	13,433,439	15,726,796	(1,263,990)	303,190	2020	12/30/2021
Apopka	FL	10,611,302	2,329,786	9,125,103	11,454,889	6,113,120		2,329,786	15,238,223	17,568,009	(988,799)	40,206	2021	12/30/2021
Vancouver	WA	10,534,409	1,422,900	23,189,404	24,612,304	298,366		1,422,900	23,487,770	24,910,670	(1,923,902)	15,943	2020	3/29/2022
Portland	OR	7,048,570	4,298,103	10,618,441	14,916,544	290,334		4,298,103	10,908,775	15,206,878	(932,048)	22,250	1975 / 2020	3/31/2022
Newark	DE	9,791,105	2,167,103	17,837,346	20,004,449	393,213		2,167,103	18,230,559	20,397,662	(1,500,127)	—	2021	4/26/2022
Levittown	PA	9,278,482	3,495,978	17,668,979	21,164,957	339,702		3,495,978	18,008,681	21,504,659	(1,494,689)	—	2021	4/26/2022
Chandler	AZ	11,739,074	4,795,960	20,555,792	25,351,752	286,278		4,795,960	20,842,070	25,638,030	(1,993,711)	—	1996 / 2022	5/17/2022
St. Johns	FL	7,638,087	3,708,927	10,458,678	14,167,605	335,580		3,708,927	10,794,258	14,503,185	(894,260)	5,570	2006 / 2007	7/8/2022
Burlington	ONT	10,445,935	10,638,348	15,548,407	26,186,755	(474,968)	(3)	10,028,589	15,073,439	25,102,028	(1,169,978)	24,159	1979 / 2001	9/20/2022
Oxford	FL	5,408,176	1,311,463	9,406,248	10,717,711	511,643		1,311,463	9,917,891	11,229,354	(860,618)	—	2001	9/21/2022
Cambridge	ONT	9,663,950	7,537,977	19,075,728	26,613,705	(851,439)	(3)	7,105,922	18,224,289	25,330,211	(1,359,772)	13,594	1965 / 2019	12/20/2022
Edmonton	AB	6,125,639	910,770	10,287,301	11,198,071	(675,131)	(3)	848,110	9,612,170	10,460,280	(549,069)	13,050	1955 / 2022	1/31/2023
North York	ONT	16,754,775	14,498,382	24,808,502	39,306,884	(1,615,802)	(3)	13,500,902	23,192,700	36,693,602	(1,414,623)	7,235	1986 / 2020	1/31/2023
Bradenton II	FL	—	1,390,987	—	1,390,987	—		1,404,487	—	1,404,487	—	557,654	N/A	2/16/2023
Etobicoke	ONT	—	1,749,931	—	1,749,931	—		1,667,800	—	1,667,800	—	5,612,897	N/A	3/27/2023
Vancouver	BC	15,044,513	5,598,559	27,315,073	32,913,632	(737,785)	(3)	5,289,852	26,577,288	31,867,140	(1,252,613)	5,767	2022	5/4/2023
Mississauga	ONT	16,714,888	11,551,853	19,595,103	31,146,956	(1,480,304)	(3)	10,615,010	18,114,799	28,729,809	(833,541)	—	1960 / 2016	6/19/2023
Mississauga II	ONT	18,671,753	5,881,560	29,818,866	35,700,426	(2,290,295)	(3)	5,404,572	27,528,571	32,933,143	(1,250,934)	—	2022	6/19/2023
Burlington II	ONT	10,599,685	9,663,636	9,236,614	18,900,250	(671,705)	(3)	8,879,925	8,564,909	17,444,834	(416,531)	2,478,502	1982 / 2020	6/19/2023
Toronto	ONT	20,384,011	4,064,015	34,925,565	38,989,580	(2,741,481)	(3)	3,734,427	32,184,084	35,918,511	(1,432,906)	4,861	2018	6/19/2023
Hamilton	ONT	4,973,698	2,065,522	7,202,860	9,268,382	(487,398)	(3)	1,898,010	6,715,462	8,613,472	(327,355)	8,201	1900 / 2020	6/19/2023
Woodbridge	ONT	15,084,167	7,299,353	20,977,259	28,276,612	(1,573,146)	(3)	6,707,384	19,404,113	26,111,497	(875,246)	19,537	2017	6/19/2023
Total		$252,037,014	$114,863,226	$392,845,442	$507,708,668	$(3,650,786)		$109,097,324	$389,194,656	$498,291,980	$(27,645,170)	$9,144,864

1.The aggregate historical cost of real estate for United States federal income tax purposes is $535,309,740.

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, 2024 and 2023.

	2024			2023
Real estate facilities
Balance at beginning of year	$	514,006,885		$	260,839,091
Facility acquisitions		—			248,841,711
Improvements and additions		7,898,421			2,395,408
Impact of foreign exchange rate changes		(23,613,326	)		1,930,675
Balance at end of year	$	498,291,980		$	514,006,885
Accumulated depreciation
Balance at beginning of year	$	(15,660,337	)	$	(5,093,282	)
Depreciation expense		(12,680,596	)		(10,493,167	)
Impact of foreign exchange rate changes		695,763			(73,888	)
Balance at end of year	$	(27,645,170	)	$	(15,660,337	)
Construction in process	$	9,144,864		$	6,451,632
Real estate facilities, net	$	479,791,674		$	504,798,180