v3.25.2
MORTGAGE LOANS AND NOTES PAYABLE - Summary (Details) - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Mortgage loans and Notes payable    
Principal amount of debt $ 2,800,000 $ 2,800,000
Total mortgage loans and notes payable 205,092 205,915
Net book value of self-storage facilities 6,413,603 6,038,186
Mortgage Loans    
Mortgage loans and Notes payable    
Carrying value 203,881  
Principal amount of debt 203,881 204,471
Plus: Unamortized fair value adjustment 5,331 6,137
Less: Loan procurement costs, net (4,120) (4,693)
Total mortgage loans and notes payable 205,092 205,915
Net book value of self-storage facilities 399,700 403,900
Long Island City II, NY | Mortgage Loans    
Mortgage loans and Notes payable    
Carrying value $ 17,126 17,368
Effective interest rate (as a percent) 2.25%  
Long Island City III, NY | Mortgage Loans    
Mortgage loans and Notes payable    
Carrying value $ 17,127 17,371
Effective interest rate (as a percent) 2.25%  
Allen, TX | Mortgage Loans    
Mortgage loans and Notes payable    
Carrying value $ 7,328 7,432
Effective interest rate (as a percent) 6.29%  
Dallas-Fort Worth, TX | Mortgage Loans    
Mortgage loans and Notes payable    
Carrying value $ 108,000 108,000
Effective interest rate (as a percent) 6.23%  
Flushing II, NY | Mortgage Loans    
Mortgage loans and Notes payable    
Carrying value $ 54,300 $ 54,300
Effective interest rate (as a percent) 2.15%  
Joint Venture    
Mortgage loans and Notes payable    
Ownership interest held by the entity (as a percent) 85.00% 85.00%