v3.26.1
INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES (Tables)
 3 Months Ended
Mar. 31, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Condensed Financial Position and Condensed Operating Information
The following table presents the combined condensed financial position of the Company's unconsolidated real estate ventures as of March 31, 2026 and December 31, 2025 (dollars in thousands):
March 31, 2026December 31, 2025
ASSETS
Self storage properties$2,765,856 $2,762,740 
Less accumulated depreciation(544,369)(525,006)
Self storage properties, net2,221,487 2,237,734 
Other assets31,726 35,836 
Total assets$2,253,213 $2,273,570 
LIABILITIES AND EQUITY
Debt financing$1,214,614 $1,214,325 
Other liabilities32,089 33,068 
Equity1,006,510 1,026,177 
Total liabilities and equity$2,253,213 $2,273,570 
The following tables present the combined condensed operating information of the Company's unconsolidated real estate ventures for the three months ended March 31, 2026 and 2025 (dollars in thousands):
Three Months Ended March 31,
20262025
Total revenue$63,097 $61,624 
Property operating expenses(21,539)(22,416)
Supervisory, administrative and other expenses(4,221)(4,041)
Depreciation and amortization(19,612)(21,644)
Interest expense(13,647)(13,645)
Non-operating (expense)(97)(150)
Net income (loss)$3,981 $(272)