Quarterly report pursuant to Section 13 or 15(d)

SELF STORAGE PROPERTIES

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SELF STORAGE PROPERTIES
 6 Months Ended
Jun. 30, 2020
Real Estate [Abstract]  
SELF STORAGE PROPERTIES SELF STORAGE PROPERTIES
Self storage properties are summarized as follows (dollars in thousands):
June 30, 2020 December 31, 2019
Land $ 687,330    $ 649,938   
Buildings and improvements 2,659,837    2,435,171   
Furniture and equipment 7,287    6,610   
Total self storage properties 3,354,454    3,091,719   
Less accumulated depreciation (389,828)   (337,822)  
Self storage properties, net $ 2,964,626    $ 2,753,897   
Depreciation expense related to self storage properties amounted to $26.3 million and $22.7 million during the three months ended June 30, 2020 and 2019, respectively, and $52.0 million and $44.2 million during the six months ended June 30, 2020 and 2019, respectively.