Quarterly report pursuant to Section 13 or 15(d)

SELF STORAGE PROPERTIES

v3.19.3
SELF STORAGE PROPERTIES
9 Months Ended
Sep. 30, 2019
Real Estate [Abstract]  
SELF STORAGE PROPERTIES SELF STORAGE PROPERTIES
Self storage properties are summarized as follows (dollars in thousands):
 
September 30, 2019
 
December 31, 2018
Land
$
643,524

 
$
583,455

Buildings and improvements
2,405,621

 
2,048,281

Furniture and equipment
6,452

 
5,987

Total self storage properties
3,055,597

 
2,637,723

Less accumulated depreciation
(313,694
)
 
(246,261
)
Self storage properties, net
$
2,741,903

 
$
2,391,462


Depreciation expense related to self storage properties amounted to $23.8 million and $19.2 million during the three months ended September 30, 2019 and 2018, respectively, and $68.0 million and $56.1 million during the nine months ended September 30, 2019 and 2018, respectively.