Annual report pursuant to Section 13 and 15(d)

SELF STORAGE PROPERTIES

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SELF STORAGE PROPERTIES
 12 Months Ended
Dec. 31, 2019
Real Estate [Abstract]  
SELF STORAGE PROPERTIES SELF STORAGE PROPERTIES
Self storage properties are summarized as follows (dollars in thousands):
December 31,
2019 2018
Land $ 649,938    $ 583,455   
Buildings and improvements 2,435,171    2,048,281   
Furniture and equipment 6,610    5,987   
Total self storage properties 3,091,719    2,637,723   
Less accumulated depreciation (337,822)   (246,261)  
Self storage properties, net $ 2,753,897    $ 2,391,462   
Depreciation expense related to self storage properties amounted to $92.2 million, $76.3 million and $60.5 million for the years ended December 31, 2019, 2018 and 2017, respectively.