The Company’s lease population is comprised of leases for land and/or buildings in which certain of the Company’s self-storage facilities operate, as well as leases of warehousing and corporate office space. All leases where the Company is the lessee qualify as operating leases and the Company does not have any financing leases as of September 30, 2022. At September 30, 2022 and

December 31, 2021, the Company’s aggregate right-of-use assets total $17.7 million and $19.5 million, respectively, and are included in other assets on the consolidated balance sheet. The related lease liabilities at September 30, 2022 and December 31, 2021 total $17.2 million and $19.2 million, respectively, and are included in accounts payable and accrued liabilities on the consolidated balance sheet.

Expenses related to operating leases totaled $0.7 million and $0.6 million for the three months ended September 30, 2022 and 2021, respectively, and $2.0 million and $1.8 million for the nine months ended September 30, 2022 and 2021, respectively. At September 30, 2022, the weighted average remaining lease term and weighted average discount rate for the Company’s operating leases were 9.6 years and 4.59%, respectively.

At September 30, 2022, the Company has approximately $22.3 million of operating lease commitments, excluding variable consideration. The undiscounted future minimum lease payments are summarized by year in the table below:


(in thousands)
2022	$	518
2023		2,663
2024		2,584
2025		2,402
2026		2,483
Thereafter		11,697
Total	$	22,347

The difference between the amounts included in the table above and the aggregate lease liability recorded in the accompanying consolidated balance sheet at September 30, 2022 is the result of the impact of the discount rate on future minimum lease payments.

At September 30, 2022, the Company was under contract to acquire fifteen self-storage facilities for an aggregate purchase price of $280.3 million. During October 2022, the Company completed the acquisition of seven of these self-storage facilities for an aggregate purchase price of $142.0 million. Also during October 2022, the Company assigned the contract to acquire four of the stores under contract to an unconsolidated joint venture of the Company which completed the acquisition of these self-storage facilities for an aggregate purchase price of $67.5 million. The purchases of the remaining self-storage facilities are subject to customary conditions to closing, and there is no assurance that these facilities will be acquired.

At September 30, 2022, the Company was under contract to acquire four self-storage facilities with various joint venture partners for an aggregate purchase price of $81.5 million. During October, the Company and its partner completed the acquisition of three of these facilities for an aggregate purchase price of $59.0 million, of which the Company's share was $11.8 million. The purchase of the remaining self-storage facility is subject to customary conditions to closing, and there is no assurance that this facility will be acquired.

At September 30, 2022, the Company has signed contracts in place with third-party contractors for expansion and enhancements at its existing facilities. The Company expects to pay $48.2 million under these contracts in 2022 and 2023.