| Summary of real estate assets |
| | | | | | | | | | June 30, | | December 31, | | | | 2026 | | 2025 | | | | | (in thousands) | | Land | | $ | 1,723,839 | | $ | 1,714,247 | | Buildings and improvements | | | 6,228,464 | | | 6,203,371 | | Equipment | | | 131,913 | | | 140,027 | | Construction in progress | | | 22,653 | | | 34,599 | | Right-of-use assets - finance leases | | | 41,945 | | | 41,945 | | Storage properties | | | 8,148,814 | | | 8,134,189 | | Less: Accumulated depreciation | | | (1,842,330) | | | (1,758,340) | | Storage properties, net | | $ | 6,306,484 | | $ | 6,375,849 | |
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| Schedule of acquisitions and dispositions of real estate assets |
The following table summarizes the Company’s acquisition and disposition activity since January 1, 2025. | | | | | | | | | | | | | | | | | Number of | | Transaction Price | | Asset/Portfolio | | Metropolitan Statistical Area | | Transaction Date | | Stores | | (in thousands) | | | | | | | | | | | | | 2025 Acquisitions: | | | | | | | | | | | | | | | | | | | | | | HVP IV Assets | | Various (see note 4) | | February 2025 | | 28 | | $ | 452,785 | (1) | Arizona Asset | | Phoenix-Mesa-Scottsdale, AZ | | November 2025 | | 1 | | | 17,500 | | Florida Asset | | Miami-Fort Lauderdale-Pompano Beach, FL | | December 2025 | | 1 | | | 31,500 | | | | | | | | 30 | | $ | 501,785 | |
| (1) | Amount represents the purchase price for the remaining 80% ownership interest in 191 IV CUBE LLC (“HVP IV”), which, at the time of acquisition, owned 28 stores (see note 4). Purchase price includes $44.4 million to repay the Company’s portion of HVP IV’s existing indebtedness. |
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