| Schedule of investments in self storage property acquisitions |
The following table summarizes, by calendar quarter, the investments in self storage property acquisitions completed by the Company during the years ended December 31, 2017 and 2016 (dollars in thousands):
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Acquisitions closed during the Three Months Ended: |
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Summary of Investment |
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Number of Properties |
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Cash and Acquisition Costs |
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Value of OP Equity(1)
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Liabilities Assumed |
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Total |
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Mortgages(2)
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Other |
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March 31, 2017 |
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5 |
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$ |
26,780 |
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$ |
4,964 |
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$ |
— |
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$ |
183 |
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$ |
31,927 |
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June 30, 2017 |
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10 |
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60,672 |
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8,931 |
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— |
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387 |
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69,990 |
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September 30, 2017 |
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19 |
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122,742 |
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267 |
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— |
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826 |
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123,835 |
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December 31, 2017 |
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31 |
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181,809 |
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17,019 |
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— |
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2,220 |
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201,048 |
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Total |
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65 |
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$ |
392,003 |
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$ |
31,181 |
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$ |
— |
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$ |
3,616 |
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$ |
426,800 |
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March 31, 2016 |
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17 |
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$ |
63,300 |
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$ |
19,068 |
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$ |
5,861 |
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$ |
584 |
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$ |
88,813 |
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June 30, 2016 |
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25 |
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61,263 |
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80,986 |
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55,767 |
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1,212 |
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199,228 |
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September 30, 2016 |
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34 |
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199,890 |
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4,841 |
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— |
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896 |
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205,627 |
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December 31, 2016 |
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31 |
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208,707 |
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16,871 |
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— |
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2,125 |
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227,703 |
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Total |
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107 |
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$ |
533,160 |
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$ |
121,766 |
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$ |
61,628 |
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$ |
4,817 |
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$ |
721,371 |
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(1) |
Value of OP equity represents the fair value of OP units, subordinated performance units, and LTIP units. |
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(2) |
Includes fair value of debt adjustment for assumed mortgages of approximately $7.2 million during the year ended December 31, 2016
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