Mortgages Payable and Debt Maturities (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Summary of Mortgage Payable

Mortgages payable at June 30, 2022 and December 31, 2021 consist of the following:

(dollars in thousands)	June 30, 2022		December 31, 2021
4.065% mortgage note due April 1, 2023, secured by one self-    storage facility with an aggregate net book value of $7.0    million, principal and interest paid monthly    (effective interest rate 4.32%)	$	3,674	$	3,728
5.26% mortgage note due November 1, 2023, secured by one    self-storage facility with an aggregate net book value of $7.6    million, principal and interest paid monthly    (effective interest rate 5.58%)		3,609		3,650
4.4625% mortgage notes due December 6, 2024, secured by    three self-storage facilities with an aggregate net book value    of $53.9 million, principal and interest paid monthly    (effective interest rate 3.22%)		22,298		22,427
4.44% mortgage note due July 6, 2025, secured by one    self-storage facility with an aggregate net book value of    $13.3 million, principal and interest paid monthly    (effective interest rate 4.50%)		6,168		6,228
5.99% mortgage note due May 1, 2026, secured by one self-    storage facility with an aggregate net book value of $6.3    million, principal and interest paid monthly    (effective interest rate 6.53%)		897		997
Total mortgages payable	$	36,646	$	37,030

Summary of Debt Obligations and Interest Rate Derivatives

Accordingly, the estimates presented below are not necessarily indicative of the amounts the Company would realize in a current market exchange.

			Expected Maturity Date Including Discount
(dollars in thousands)	2022		2023		2024		2025		2026		Thereafter		Total		Fair Value
Line of credit - variable rate    LIBOR + 0.95% (2.58% at   June 30, 2022)	$	—	$	303,000	$	—	$	—	$	—	$	—	$	303,000	$	303,000
Notes Payable:
Term note - fixed rate 4.533%		—		—		175,000		—		—		—		175,000		174,053
Term note - fixed rate 3.50%		—		—		—		—		600,000		—		600,000		566,212
Term note - fixed rate 3.875%		—		—		—		—		—		450,000		450,000		427,788
Term note - fixed rate 3.67%		—		—		—		—		—		200,000		200,000		181,346
Term note - fixed rate 4.00%		—		—		—		—		—		350,000		350,000		325,813
Term note - fixed rate 2.20%		—		—		—		—		—		400,000		400,000		318,637
Term note - fixed rate 2.40%		—		—		—		—		—		600,000		600,000		470,277
Mortgage note - fixed rate 4.065%		54		3,620		—		—		—		—		3,674		3,639
Mortgage note - fixed rate 5.26%		42		3,567		—		—		—		—		3,609		3,609
Mortgage notes - fixed rate 4.4625%		—		—		22,298		—		—		—		22,298		21,216
Mortgage note - fixed rate 4.44%		61		126		131		5,850		—		—		6,168		6,027
Mortgage note - fixed rate 5.99%		103		216		229		243		106		—		897		911
Total	$	260	$	310,529	$	197,658	$	6,093	$	600,106	$	2,000,000	$	3,114,646