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Commitment and Contingencies
6 Months Ended
Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract]  
Commitment and Contingencies

16. COMMITMENT AND CONTINGENCIES

At June 30, 2019, the Company was under contract to acquire 16 self-storage facilities for an aggregate purchase price of $202.4 million. Twelve of these 16 self-storage facilities were acquired by the Company subsequent to June 30, 2019 for a purchase price of $134.8 million. The purchase of the remaining four facilities is subject to customary conditions to closing, and there is no assurance that these facilities will be acquired.

At June 30, 2019, the Company was under contract to sell 32 non-strategic self-storage facilities to an unrelated third-party in exchange for cash consideration of $212 million. The sale of these self-storage facilities was finalized on July 2, 2019 (see Note 17).

At June 30, 2019, the Company has signed contracts in place with third-party contractors for expansion and enhancements at its existing facilities. The Company expects to pay $38.5 million under these contracts in 2019 and 2020.