Annual report pursuant to Section 13 and 15(d)

SELF STORAGE PROPERTIES

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SELF STORAGE PROPERTIES
 12 Months Ended
Dec. 31, 2022
Real Estate [Abstract]  
SELF STORAGE PROPERTIES SELF STORAGE PROPERTIES
Self storage properties are summarized as follows (dollars in thousands):
December 31,
2022 2021
Land $ 1,111,326  $ 1,028,431 
Buildings and improvements 5,269,383  4,760,567 
Furniture and equipment 10,863  9,190 
Total self storage properties 6,391,572  5,798,188 
Less accumulated depreciation (772,661) (578,717)
Self storage properties, net $ 5,618,911  $ 5,219,471 
Depreciation expense related to self storage properties amounted to $195.9 million, $135.1 million and $105.9 million for the years ended December 31, 2022, 2021 and 2020, respectively.