Annual report pursuant to Section 13 and 15(d)

SELF STORAGE PROPERTIES

v3.8.0.1
SELF STORAGE PROPERTIES
12 Months Ended
Dec. 31, 2017
Real Estate [Abstract]  
SELF STORAGE PROPERTIES
SELF STORAGE PROPERTIES
Self storage properties are summarized as follows (dollars in thousands):
 
December 31,
 
2017
 
2016
Land
$
528,304

 
$
456,135

Buildings and improvements
1,741,459

 
1,383,603

Furniture and equipment
5,470

 
4,598

Total self storage properties
2,275,233

 
1,844,336

Less accumulated depreciation
(170,358
)
 
(110,803
)
Self storage properties, net
$
2,104,875

 
$
1,733,533


Depreciation expense related to self storage properties amounted to $60.5 million, $42.7 million and $28.5 million for the years ended December 31, 2017, 2016 and 2015, respectively.