Quarterly report pursuant to Section 13 or 15(d)

SELF STORAGE PROPERTIES

v3.5.0.2
SELF STORAGE PROPERTIES
6 Months Ended
Jun. 30, 2016
Real Estate [Abstract]  
SELF STORAGE PROPERTIES
SELF STORAGE PROPERTIES
Self storage properties are summarized as follows (dollars in thousands):
 
June 30,
 
December 31,
 
2016
 
2015
Land
$
382,484

 
$
315,867

Buildings and improvements
1,046,269

 
829,093

Furniture and equipment
3,365

 
2,241

Total self storage properties
1,432,118

 
1,147,201

Less accumulated depreciation
(86,891
)
 
(68,100
)
Self storage properties, net
$
1,345,227

 
$
1,079,101


Depreciation expense related to self storage properties amounted to $10.1 million and $6.5 million during the three months ended June 30, 2016 and 2015, respectively, and $18.8 million and $12.8 million during the six months ended June 30, 2016 and 2015, respectively.