Investment in Storage Facilities and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2018

Real Estate [Abstract]

Summary of Activity in Storage Facilities

The following summarizes our activity in storage facilities during the six months ended June 30, 2018:

(dollars in thousands)
Cost:
Beginning balance	$	4,321,410
Improvements and equipment additions		14,123
Net increase in construction in progress		14,040
Dispositions		(2,189	)
Ending balance	$	4,347,384
Accumulated  Depreciation:
Beginning balance	$	624,314
Additions during the period		49,557
Dispositions		(2,154	)
Ending balance	$	671,717

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)	June 30, 2018			December 31, 2017
In-place customer leases	$	75,241		$	75,241
Accumulated amortization		(75,241	)		(75,241	)
Net carrying value at the end of period		—			—