Annual report pursuant to Section 13 and 15(d)

SELF STORAGE PROPERTIES

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SELF STORAGE PROPERTIES
12 Months Ended
Dec. 31, 2021
Real Estate [Abstract]  
SELF STORAGE PROPERTIES SELF STORAGE PROPERTIES
Self storage properties are summarized as follows (dollars in thousands):
December 31,
2021 2020
Land $ 1,028,431  $ 738,863 
Buildings and improvements 4,760,567  2,892,490 
Furniture and equipment 9,190  7,839 
Total self storage properties 5,798,188  3,639,192 
Less accumulated depreciation (578,717) (443,623)
Self storage properties, net $ 5,219,471  $ 3,195,569 
Depreciation expense related to self storage properties amounted to $135.1 million, $105.9 million and $92.2 million for the years ended December 31, 2021, 2020 and 2019, respectively.