Investment in Storage Facilities and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2018

Real Estate [Abstract]

Summary of Activity in Storage Facilities

The following summarizes our activity in storage facilities during the three months ended March 31, 2018:

(dollars in thousands)
Cost:
Beginning balance	$	4,321,410
Improvements and equipment additions		3,497
Net increase in construction in progress		5,336
Dispositions		(1,984	)
Ending balance	$	4,328,259
Accumulated  Depreciation:
Beginning balance	$	624,314
Additions during the period		24,731
Dispositions		(1,915	)
Ending balance	$	647,130

Schedule of Fair Value of In-Place Customer Lease Intangible Assets

In-place customer leases are included in other assets on the Company’s consolidated balance sheets as follows:

(Dollars in thousands)	Mar. 31, 2018			Dec. 31, 2017
In-place customer leases	$	75,241		$	75,241
Accumulated amortization		(75,241	)		(75,241	)
Net carrying value at the end of period		—			—