Investment in Storage Facilities and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2019

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 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	$	—

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

(Dollars in thousands)	June 30, 2019			December 31, 2018
In-place customer leases	$	77,041		$	75,715
Accumulated amortization		(75,624	)		(74,744	)
Net carrying value at the end of period	$	1,417		$	971