Mortgages Payable and Debt Maturities (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Summary of Mortgage Payable

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

(dollars in thousands)	September 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 4.33%)	$	3,648	$	3,728
5.26% mortgage note due November 1, 2023, secured by one    self-storage facility with an aggregate net book value of $7.5    million, principal and interest paid monthly    (effective interest rate 5.60%)		3,588		3,650
4.4625% mortgage notes due December 6, 2024, secured by    three self-storage facilities with an aggregate net book value    of $53.6 million, principal and interest paid monthly    (effective interest rate 3.24%)		22,233		22,427
4.44% mortgage note due July 6, 2025, secured by one    self-storage facility with an aggregate net book value of    $13.2 million, principal and interest paid monthly    (effective interest rate 4.51%)		6,138		6,228
5.99% mortgage note due May 1, 2026, secured by one self-    storage facility with an aggregate net book value of $6.2    million, principal and interest paid monthly    (effective interest rate 6.56%)		847		997
Total mortgages payable	$	36,454	$	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    SOFR + 0.775% (3.94% at   September 30, 2022)	$	—	$	—	$	—	$	—	$	—	$	456,000	$	456,000	$	456,000
Notes Payable:
Term note - fixed rate 4.533%		—		—		175,000		—		—		—		175,000		170,325
Term note - fixed rate 3.50%		—		—		—		—		600,000		—		600,000		551,359
Term note - fixed rate 3.875%		—		—		—		—		—		450,000		450,000		408,515
Term note - fixed rate 3.67%		—		—		—		—		—		200,000		200,000		176,252
Term note - fixed rate 4.00%		—		—		—		—		—		350,000		350,000		309,177
Term note - fixed rate 2.20%		—		—		—		—		—		400,000		400,000		298,381
Term note - fixed rate 2.40%		—		—		—		—		—		600,000		600,000		437,083
Mortgage note - fixed rate 4.065%		28		3,620		—		—		—		—		3,648		3,597
Mortgage note - fixed rate 5.26%		21		3,567		—		—		—		—		3,588		3,538
Mortgage notes - fixed rate 4.4625%		—		—		22,233		—		—		—		22,233		20,678
Mortgage note - fixed rate 4.44%		31		126		131		5,850		—		—		6,138		5,745
Mortgage note - fixed rate 5.99%		53		216		229		243		106		—		847		839
Total	$	133	$	7,529	$	197,593	$	6,093	$	600,106	$	2,456,000	$	3,267,454