Quarterly report pursuant to Section 13 or 15(d)

SELF STORAGE PROPERTIES

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SELF STORAGE PROPERTIES
 3 Months Ended
Mar. 31, 2022
Real Estate [Abstract]  
SELF STORAGE PROPERTIES SELF STORAGE PROPERTIES
Self storage properties are summarized as follows (dollars in thousands):
March 31, 2022 December 31, 2021
Land $ 1,044,317  $ 1,028,431 
Buildings and improvements 4,838,336  4,760,567 
Furniture and equipment 9,753  9,190 
Total self storage properties 5,892,406  5,798,188 
Less accumulated depreciation (624,368) (578,717)
Self storage properties, net $ 5,268,038  $ 5,219,471 
Depreciation expense related to self storage properties amounted to $46.7 million and $29.4 million during the three months ended March 31, 2022 and 2021, respectively.