Quarterly report pursuant to Section 13 or 15(d)

SELF STORAGE PROPERTIES

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SELF STORAGE PROPERTIES
 3 Months Ended
Mar. 31, 2021
Real Estate [Abstract]  
SELF STORAGE PROPERTIES SELF STORAGE PROPERTIES
Self storage properties are summarized as follows (dollars in thousands):
March 31, 2021 December 31, 2020
Land $ 765,453  $ 738,863 
Buildings and improvements 3,033,932  2,892,490 
Furniture and equipment 8,236  7,839 
Total self storage properties 3,807,621  3,639,192 
Less accumulated depreciation (473,019) (443,623)
Self storage properties, net $ 3,334,602  $ 3,195,569 
Depreciation expense related to self storage properties amounted to $29.4 million and $25.7 million during the three months ended March 31, 2021 and 2020, respectively