Quarterly report pursuant to Section 13 or 15(d)

SELF STORAGE PROPERTIES

v3.19.2
SELF STORAGE PROPERTIES
6 Months Ended
Jun. 30, 2019
Real Estate [Abstract]  
SELF STORAGE PROPERTIES SELF STORAGE PROPERTIES
Self storage properties are summarized as follows (dollars in thousands):
 
June 30, 2019
 
December 31, 2018
Land
$
640,052

 
$
583,455

Buildings and improvements
2,369,152

 
2,048,281

Furniture and equipment
6,345

 
5,987

Total self storage properties
3,015,549

 
2,637,723

Less accumulated depreciation
(289,886
)
 
(246,261
)
Self storage properties, net
$
2,725,663

 
$
2,391,462


Depreciation expense related to self storage properties amounted to $22.7 million and $18.9 million during the three months ended June 30, 2019 and 2018, respectively, and $44.2 million and $36.9 million during the six months ended June 30, 2019 and 2018, respectively.