The following summarizes our activity in storage facilities during the six months ended June 30, 2019:

(dollars in thousands)
Cost:
Beginning balance	$	4,398,939
Acquisition of storage facilities		108,356
Improvements and equipment additions		39,613
Net decrease in construction in progress		(1,988	)
Dispositions		(3,309	)
Ending balance	$	4,541,611
Accumulated Depreciation:
Beginning balance	$	704,681
Additions during the period		51,440
Dispositions		(2,540	)
Ending balance	$	753,581

The Company acquired six self-storage facilities during the six months ended June 30, 2019. The acquisitions of these facilities were accounted for as asset acquisitions. The costs of the facilities, including closing costs, were allocated to land, building, equipment and improvements, and in-place customer leases based upon their relative fair values.

The purchase prices of the facilities acquired in 2019 have been assigned as follows:

(dollars in thousands)						Consideration paid								Acquisition Date Fair Value
States	Number of Properties		Date of Acquisition	Purchase Price		Cash Paid		Carrying Value of Noncontrolling Interest in Joint Venture		Mortgage Assumed		Net Other Liabilities (Assets) Assumed		Land		Building, Equipment, and Improvements		In-Place Customers Leases		Closing Costs Expensed
NY		1	1/16/2019	$	57,169	$	46,402	$	10,715	$	—	$	52	$	30,029	$	26,863	$	277	$	—
FL		1	3/8/2019		9,302		9,222		—		—		80		1,817		7,377		108		—
OH		3	4/30/2019		33,256		32,976		—		—		280		3,749		28,651		856		—
FL		1	6/11/2019		9,955		9,926		—		—		29		662		9,208		85		—
Total acquired in 2019		6		$	109,682	$	98,526	$	10,715	$	—	$	441	$	36,257	$	72,099	$	1,326	$	—

The facility purchased in New York was acquired as the result of the Company’s acquisition of the remaining 60% ownership interest in Review Avenue Partners, LLC (“RAP”). Prior to this acquisition, RAP was a joint venture between the Company and an otherwise unrelated third-party which had been accounted for by the Company using the equity method of accounting (see Note 10 for additional information on RAP). The purchase price for this acquisition includes the carrying value of the Company’s equity investment in RAP of $10.7 million at the time of the acquisition. The facilities acquired in Florida and Ohio were purchased from unrelated third-parties.

The $98.5 million of cash paid for the facilities acquired in 2019 includes $0.2 million of deposits that were paid in 2018, when one of these facilities was originally under contract, and $1.2 million of cash to be paid later in 2019. In addition to the Company’s equity investment in RAP at carrying value, non-cash investing activities during 2019 include the assumption of net other liabilities totaling $441,000.

The Company measures the fair value of in-place customer lease intangible assets based on the Company’s experience with customer turnover and the cost to replace the in-place leases. The Company amortizes in-place customer leases on a straight-line basis over 12 months (the estimated future benefit period). The Company measures the value of trade names, which have an indefinite life and are not amortized, by calculating discounted cash flows utilizing the relief from royalty method.

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

Amortization expense related to in-place customer leases was $0.5 million and $0.9 million for the three and six months ended June 30, 2019, respectively. The Company did not record any amortization expense during the three and six months ended June 30, 2018 as all in-place customer leases were fully amortized at the beginning of the period.

As part of the Company’s capital improvement efforts during 2017, 2018 and 2019, buildings at certain self-storage facilities were identified for replacement. As a result of the decision to replace these buildings, the Company reassessed the estimated useful lives of the then existing buildings. This useful life reassessment resulted in an increase in depreciation expense of approximately $0.1 million and $0.8 million during the three and six months ended June 30, 2019, respectively, and $0.3 million during the six months ended June 30, 2018. There was de minimis impact on the three months ended June 30, 2018. The Company estimates that the change in estimated useful lives of buildings identified for replacement as of June 30, 2019 will have minimal additional impact on depreciation expense during the remainder of 2019.

The accelerated depreciation resulting from the events discussed above reduced both basic and diluted earnings per share/unit by less than $0.01 and by approximately $0.02 for the three and six months ended June 30, 2019, respectively, and by $0.01 for the six months ended June 30, 2018.