SELF STORAGE PROPERTIES (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | |||
---|---|---|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
Dec. 31, 2022 |
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Real Estate [Abstract] | |||||
Land | $ 1,152,156 | $ 1,152,156 | $ 1,111,326 | ||
Buildings and improvements | 5,453,118 | 5,453,118 | 5,269,383 | ||
Furniture and equipment | 11,413 | 11,413 | 10,863 | ||
Total self storage properties | 6,616,687 | 6,616,687 | 6,391,572 | ||
Less accumulated depreciation | (930,885) | (930,885) | (772,661) | ||
Self storage properties, net | 5,685,802 | 5,685,802 | $ 5,618,911 | ||
Depreciation expense related to self storage properties | $ 53,200 | $ 49,800 | $ 158,300 | $ 144,300 |
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- Definition The expense recognized in the current period that allocates the cost of nonproduction tangible assets over their useful lives. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount before accumulated depreciation of fixtures and equipment. Includes, but is not limited to, machinery, equipment, and engines. No definition available.
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- Definition Aggregate of the carrying amounts as of the balance sheet date of investments in building and building improvements. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount before accumulated depletion of real estate held for productive use, excluding land held for sale. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition The cumulative amount of depreciation for real estate property held for investment purposes. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of real estate investment property which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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