|9 Months Ended|
Sep. 30, 2015
|Subsequent Events [Abstract]|
Self Storage Property Acquisitions
In October 2015, the Company acquired 15 self storage properties with an estimated fair value of approximately $67.8 million. Consideration for these acquisitions included approximately $36.7 million of net cash, the assumption and subsequent repayment of approximately $23.6 million in outstanding mortgage debt, and the vesting of approximately $1.4 million of LTIP units (consisting of approximately 99,000 of the 522,900 unvested LTIP units which vest upon the acquisition of properties). Certain of these self storage properties were acquired in DownREIT partnerships. The estimated fair value of noncontrolling interests associated with these partnerships was $6.1 million. Of these acquisitions, 14 were acquired by us from our PROs and one was acquired by us from a third-party seller.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
No definition available.