Quarterly report pursuant to Section 13 or 15(d)

SELF STORAGE PROPERTIES

v3.8.0.1
SELF STORAGE PROPERTIES
 3 Months Ended
Mar. 31, 2018
Real Estate [Abstract]  
SELF STORAGE PROPERTIES
SELF STORAGE PROPERTIES
Self storage properties are summarized as follows (dollars in thousands):
 
March 31, 2018
 
December 31, 2017
Land
$
550,025

 
$
528,304

Buildings and improvements
1,855,728

 
1,741,459

Furniture and equipment
5,700

 
5,470

Total self storage properties
2,411,453

 
2,275,233

Less accumulated depreciation
(188,407
)
 
(170,358
)
Self storage properties, net
$
2,223,046

 
$
2,104,875


Depreciation expense related to self storage properties amounted to $18.0 million and $14.1 million during the three months ended March 31, 2018 and 2017, respectively.