Activity in real estate facilities during the six months ended June 30, 2026 is as follows:




	Six Months Ended June 30, 2026
	(Amounts in thousands)
Operating facilities, at cost:
Beginning balance	$	30,078,257
Capital expenditures to maintain real estate facilities	88,908
Capital expenditures for property enhancements	18,324
Capital expenditures for energy efficiencies (Solar, heat pumps, LED lighting)	29,051
Acquisitions	232,099
Transfers, dispositions, and retirements, net	(1,170)
Developed or expanded facilities opened for operation	57,316
Ending balance	30,502,785
Accumulated depreciation:
Beginning balance	(11,468,054)
Depreciation expense	(540,997)
Transfers, dispositions and retirements	254
Ending balance	(12,008,797)
Construction in process:
Beginning balance	194,355
Costs incurred to develop and expand real estate facilities	122,585

Transfer from Other Assets	3,500
Write-off of cancelled projects	(3,036)
Developed or expanded facilities opened for operation	(57,316)
Ending balance	260,088
Total real estate facilities, net at June 30, 2026	$	18,754,076