Annual report pursuant to Section 13 and 15(d)

SELF STORAGE PROPERTIES

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SELF STORAGE PROPERTIES
12 Months Ended
Dec. 31, 2020
Real Estate [Abstract]  
SELF STORAGE PROPERTIES SELF STORAGE PROPERTIES
Self storage properties are summarized as follows (dollars in thousands):
December 31,
2020 2019
Land $ 738,863  $ 649,938 
Buildings and improvements 2,892,490  2,435,171 
Furniture and equipment 7,839  6,610 
Total self storage properties 3,639,192  3,091,719 
Less accumulated depreciation (443,623) (337,822)
Self storage properties, net $ 3,195,569  $ 2,753,897 
Depreciation expense related to self storage properties amounted to $105.9 million, $92.2 million and $76.3 million for the years ended December 31, 2020, 2019 and 2018, respectively.