Quarterly report pursuant to Section 13 or 15(d)

SELF STORAGE PROPERTIES

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SELF STORAGE PROPERTIES
 9 Months Ended
Sep. 30, 2021
Real Estate [Abstract]  
SELF STORAGE PROPERTIES SELF STORAGE PROPERTIES
Self storage properties are summarized as follows (dollars in thousands):
September 30, 2021 December 31, 2020
Land $ 876,654  $ 738,863 
Buildings and improvements 3,785,413  2,892,490 
Furniture and equipment 8,754  7,839 
Total self storage properties 4,670,821  3,639,192 
Less accumulated depreciation (537,772) (443,623)
Self storage properties, net $ 4,133,049  $ 3,195,569 
Depreciation expense related to self storage properties amounted to $33.3 million and $26.6 million during the three months ended September 30, 2021 and 2020, respectively, and $94.2 million and $78.6 million during the nine months ended September 30, 2021 and 2020, respectively.