Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 21, 2014 | Jun. 28, 2013 | |
Document and Entity Information | ' | ' | ' |
Entity Registrant Name | 'Extra Space Storage Inc. | ' | ' |
Entity Central Index Key | '0001289490 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Public Float | ' | ' | $4,421,398,748 |
Entity Common Stock, Shares Outstanding | ' | 115,802,553 | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Real estate assets, net | $3,636,544 | $2,991,722 |
Investments in unconsolidated real estate ventures | 88,125 | 106,313 |
Cash and cash equivalents | 126,723 | 30,785 |
Restricted cash | 21,451 | 16,976 |
Receivables from related parties and affiliated real estate joint ventures | 7,542 | 11,078 |
Other assets, net | 96,755 | 66,603 |
Total assets | 3,977,140 | 3,223,477 |
Liabilities, Noncontrolling Interests and Equity: | ' | ' |
Notes payable | 1,588,596 | 1,369,690 |
Premium on notes payable | 4,948 | 3,319 |
Exchangeable senior notes | 250,000 | ' |
Discount on exchangeable senior notes | -16,487 | ' |
Notes payable to trusts | 119,590 | 119,590 |
Lines of credit | ' | 85,000 |
Accounts payable and accrued expenses | 60,601 | 52,299 |
Other liabilities | 37,997 | 48,248 |
Total liabilities | 2,045,245 | 1,678,146 |
Commitments and contingencies | ' | ' |
Extra Space Storage Inc. stockholders' equity: | ' | ' |
Preferred stock, $0.01 par value, 50,000,000 shares authorized, no shares issued or outstanding | ' | ' |
Common stock, $0.01 par value, 300,000,000 shares authorized, 115,755,527 and 110,737,205 shares issued and outstanding at December 31, 2013, and December 31, 2012, respectively | 1,157 | 1,107 |
Paid-in capital | 1,973,159 | 1,740,037 |
Accumulated other comprehensive income (deficit) | 10,156 | -14,273 |
Accumulated deficit | -226,002 | -235,064 |
Total Extra Space Storage Inc. stockholders' equity | 1,758,470 | 1,491,807 |
Noncontrolling interest represented by Preferred Operating Partnership units, net of $100,000 note receivable | 80,947 | 29,918 |
Noncontrolling interests in Operating Partnership | 91,453 | 22,492 |
Other noncontrolling interests | 1,025 | 1,114 |
Total noncontrolling interests and equity | 1,931,895 | 1,545,331 |
Total liabilities, noncontrolling interests and equity | $3,977,140 | $3,223,477 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Consolidated Balance Sheets | ' | ' |
Preferred stock, par value (in dollars per share) | $0.01 | $0.01 |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 300,000,000 | 300,000,000 |
Common stock, shares issued | 115,755,527 | 110,737,205 |
Common stock, shares outstanding | 115,755,527 | 110,737,205 |
Note receivable from noncontrolling interest represented by Preferred Operating Partnership units (in dollars) | $100,000 | $100,000 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues: | ' | ' | ' |
Property rental | $446,682 | $346,874 | $268,725 |
Tenant reinsurance | 47,317 | 36,816 | 31,181 |
Management fees | 26,614 | 25,706 | 29,924 |
Total revenues | 520,613 | 409,396 | 329,830 |
Expenses: | ' | ' | ' |
Property operations | 140,012 | 114,028 | 95,481 |
Tenant reinsurance | 9,022 | 7,869 | 6,143 |
Acquisition related costs | 8,618 | 5,351 | 2,896 |
Severance costs | ' | ' | 2,137 |
General and administrative | 54,246 | 50,454 | 49,683 |
Depreciation and amortization | 95,232 | 74,453 | 58,014 |
Total expenses | 307,130 | 252,155 | 214,354 |
Income from operations | 213,483 | 157,241 | 115,476 |
Gain on sale of real estate assets | 960 | ' | ' |
Loss on extinguishment of debt related to portfolio acquisition | -9,153 | ' | ' |
Interest expense | -71,630 | -71,850 | -67,301 |
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes | -1,404 | -444 | -1,761 |
Interest income | 749 | 1,816 | 1,027 |
Interest income on note receivable from Preferred Operating Partnership unit holder | 4,850 | 4,850 | 4,850 |
Income before equity in earnings of unconsolidated real estate ventures and income tax expense | 137,855 | 91,613 | 52,291 |
Equity in earnings of unconsolidated real estate ventures | 11,653 | 10,859 | 7,287 |
Equity in earnings of unconsolidated real estate ventures - gain on sale of real estate assets and purchase of joint venture partners' interests | 46,032 | 30,630 | ' |
Income tax expense | -9,984 | -5,413 | -1,155 |
Net income | 185,556 | 127,689 | 58,423 |
Net income allocated to Preferred Operating Partnership noncontrolling interests | -8,006 | -6,876 | -6,289 |
Net income allocated to Operating Partnership and other noncontrolling interests | -5,474 | -3,504 | -1,685 |
Net income attributable to common stockholders | $172,076 | $117,309 | $50,449 |
Earnings per common share | ' | ' | ' |
Basic (in dollars per share) | $1.54 | $1.15 | $0.55 |
Diluted (in dollars per share) | $1.53 | $1.14 | $0.54 |
Weighted average number of shares | ' | ' | ' |
Basic (in shares) | 111,349,361 | 101,766,385 | 91,301,265 |
Diluted (in shares) | 113,105,094 | 103,767,365 | 93,633,573 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Consolidated Statements of Comprehensive Income | ' | ' | ' |
Net income | $185,556 | $127,689 | $58,423 |
Other comprehensive income: | ' | ' | ' |
Change in fair value of interest rate swaps | 25,335 | -6,587 | -2,237 |
Total comprehensive income | 210,891 | 121,102 | 56,186 |
Less: comprehensive income attributable to noncontrolling interests | 14,386 | 10,130 | 7,886 |
Comprehensive income attributable to common stockholders | $196,505 | $110,972 | $48,300 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Series A Preferred Operating Partnership | Series B Preferred Operating Partnership | Series C Preferred Operating Partnership | Operating Partnership | Other | Par Value | Paid-in Capital | Accumulated Other Comprehensive Deficit | Accumulated Deficit |
In Thousands, except Share data, unless otherwise specified | ||||||||||
Balances at Dec. 31, 2010 | $939,071 | $29,733 | ' | ' | $26,803 | $1,134 | $876 | $1,148,820 | ($5,787) | ($262,508) |
Balances (in shares) at Dec. 31, 2010 | ' | ' | ' | ' | ' | ' | 87,587,322 | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock upon the exercise of options | 18,622 | ' | ' | ' | ' | ' | 14 | 18,608 | ' | ' |
Issuance of common stock upon the exercise of options (in shares) | ' | ' | ' | ' | ' | ' | 1,388,269 | ' | ' | ' |
Restricted stock grants issued | 2 | ' | ' | ' | ' | ' | 2 | ' | ' | ' |
Restricted stock grants issued (in shares) | ' | ' | ' | ' | ' | ' | 226,630 | ' | ' | ' |
Restricted stock grants cancelled (in shares) | ' | ' | ' | ' | ' | ' | -47,695 | ' | ' | ' |
Issuance of common stock, net of offering costs | 112,349 | ' | ' | ' | ' | ' | 53 | 112,296 | ' | ' |
Issuance of common stock, net of offering costs (in shares) | ' | ' | ' | ' | ' | ' | 5,335,423 | ' | ' | ' |
Compensation expense related to stock-based awards | 5,757 | ' | ' | ' | ' | ' | ' | 5,757 | ' | ' |
Redemption of Operating Partnership units for common stock | ' | ' | ' | ' | -2,344 | ' | 3 | 2,341 | ' | ' |
Redemption of Operating Partnership units for common stock (in shares) | ' | ' | ' | ' | ' | ' | 293,641 | ' | ' | ' |
Redemption of Operating Partnership units for cash | -271 | ' | ' | ' | -271 | ' | ' | ' | ' | ' |
Net income (loss) | 58,423 | 6,289 | ' | ' | 1,689 | -4 | ' | ' | ' | 50,449 |
Other comprehensive income (loss) | -2,237 | -22 | ' | ' | -66 | ' | ' | ' | -2,149 | ' |
Tax effect from vesting of restricted stock grants and stock option exercises | 2,199 | ' | ' | ' | ' | ' | ' | 2,199 | ' | ' |
Distributions to Operating Partnership units held by noncontrolling interests | -8,098 | -6,305 | ' | ' | -1,793 | ' | ' | ' | ' | ' |
Distributions to other noncontrolling interests | -29 | ' | ' | ' | ' | -29 | ' | ' | ' | ' |
Dividends paid on common stock at $1.45, $0.85, and $0.56 per share for the year ended December 31st, 2013, 2012 and 2011, respectively | -52,027 | ' | ' | ' | ' | ' | ' | ' | ' | -52,027 |
Balances at Dec. 31, 2011 | 1,073,761 | 29,695 | ' | ' | 24,018 | 1,101 | 948 | 1,290,021 | -7,936 | -264,086 |
Balances (in shares) at Dec. 31, 2011 | ' | ' | ' | ' | ' | ' | 94,783,590 | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock upon the exercise of options | 10,267 | ' | ' | ' | ' | ' | 7 | 10,260 | ' | ' |
Issuance of common stock upon the exercise of options (in shares) | ' | ' | ' | ' | ' | ' | 768,853 | ' | ' | ' |
Restricted stock grants issued | 2 | ' | ' | ' | ' | ' | 2 | ' | ' | ' |
Restricted stock grants issued (in shares) | ' | ' | ' | ' | ' | ' | 182,052 | ' | ' | ' |
Restricted stock grants cancelled (in shares) | ' | ' | ' | ' | ' | ' | -16,792 | ' | ' | ' |
Issuance of common stock, net of offering costs | 429,588 | ' | ' | ' | ' | ' | 140 | 429,448 | ' | ' |
Issuance of common stock, net of offering costs (in shares) | ' | ' | ' | ' | ' | ' | 14,030,000 | ' | ' | ' |
Issuance of common stock related to settlement of exchangeable senior notes | 7 | ' | ' | ' | ' | ' | 7 | ' | ' | ' |
Issuance of common stock related to settlement of exchangeable senior notes (in shares) | ' | ' | ' | ' | ' | ' | 684,685 | ' | ' | ' |
Compensation expense related to stock-based awards | 4,356 | ' | ' | ' | ' | ' | ' | 4,356 | ' | ' |
Redemption of Operating Partnership units for common stock | ' | ' | ' | ' | -2,479 | ' | 3 | 2,476 | ' | ' |
Redemption of Operating Partnership units for common stock (in shares) | ' | ' | ' | ' | ' | ' | 304,817 | ' | ' | ' |
Issuance of Operating Partnership units in conjunction with portfolio acquisition | 429 | ' | ' | ' | 429 | ' | ' | ' | ' | ' |
Redemption of Operating Partnership units for cash | -155 | ' | ' | ' | -155 | ' | ' | ' | ' | ' |
Net income (loss) | 127,689 | 6,876 | ' | ' | 3,473 | 31 | ' | ' | ' | 117,309 |
Other comprehensive income (loss) | -6,587 | -61 | ' | ' | -189 | ' | ' | ' | -6,337 | ' |
Tax effect from vesting of restricted stock grants and stock option exercises | 3,476 | ' | ' | ' | ' | ' | ' | 3,476 | ' | ' |
Distributions to Operating Partnership units held by noncontrolling interests | -9,197 | -6,592 | ' | ' | -2,605 | ' | ' | ' | ' | ' |
Distributions to other noncontrolling interests | -18 | ' | ' | ' | ' | -18 | ' | ' | ' | ' |
Dividends paid on common stock at $1.45, $0.85, and $0.56 per share for the year ended December 31st, 2013, 2012 and 2011, respectively | -88,287 | ' | ' | ' | ' | ' | ' | ' | ' | -88,287 |
Balances at Dec. 31, 2012 | 1,545,331 | 29,918 | ' | ' | 22,492 | 1,114 | 1,107 | 1,740,037 | -14,273 | -235,064 |
Balances (in shares) at Dec. 31, 2012 | 110,737,205 | ' | ' | ' | ' | ' | 110,737,205 | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock upon the exercise of options | 5,896 | ' | ' | ' | ' | ' | 4 | 5,892 | ' | ' |
Issuance of common stock upon the exercise of options (in shares) | ' | ' | ' | ' | ' | ' | 391,543 | ' | ' | ' |
Restricted stock grants issued | 1 | ' | ' | ' | ' | ' | 1 | ' | ' | ' |
Restricted stock grants issued (in shares) | ' | ' | ' | ' | ' | ' | 137,602 | ' | ' | ' |
Restricted stock grants cancelled (in shares) | ' | ' | ' | ' | ' | ' | -23,323 | ' | ' | ' |
Issuance of common stock, net of offering costs | 205,988 | ' | ' | ' | ' | ' | 45 | 205,943 | ' | ' |
Issuance of common stock, net of offering costs (in shares) | ' | ' | ' | ' | ' | ' | 4,500,000 | ' | ' | ' |
Compensation expense related to stock-based awards | 4,819 | ' | ' | ' | ' | ' | ' | 4,819 | ' | ' |
Redemption of Operating Partnership units for common stock | ' | ' | ' | ' | -260 | ' | ' | 260 | ' | ' |
Redemption of Operating Partnership units for common stock (in shares) | ' | ' | ' | ' | ' | ' | 12,500 | ' | ' | ' |
Purchase of additional equity interests in existing consolidated joint ventures | -2,489 | ' | ' | ' | ' | -1,008 | ' | -1,481 | ' | ' |
Noncontrolling interest related to consolidated joint venture | 870 | ' | ' | ' | ' | 870 | ' | ' | ' | ' |
Issuance of exchangeable senior notes - equity component | 14,496 | ' | ' | ' | ' | ' | ' | 14,496 | ' | ' |
Issuance of Operating Partnership units in conjunction with portfolio acquisition | 119,216 | ' | 33,568 | 17,177 | 68,471 | ' | ' | ' | ' | ' |
Redemption of Operating Partnership units for cash | -41 | ' | ' | ' | -41 | ' | ' | ' | ' | ' |
Net income (loss) | 185,556 | 7,255 | 673 | 78 | 5,425 | 49 | ' | ' | ' | 172,076 |
Other comprehensive income (loss) | 25,335 | 214 | ' | ' | 692 | ' | ' | ' | 24,429 | ' |
Tax effect from vesting of restricted stock grants and stock option exercises | 3,193 | ' | ' | ' | ' | ' | ' | 3,193 | ' | ' |
Distributions to Operating Partnership units held by noncontrolling interests | -13,262 | -7,185 | -673 | -78 | -5,326 | ' | ' | ' | ' | ' |
Dividends paid on common stock at $1.45, $0.85, and $0.56 per share for the year ended December 31st, 2013, 2012 and 2011, respectively | -163,014 | ' | ' | ' | ' | ' | ' | ' | ' | -163,014 |
Balances at Dec. 31, 2013 | $1,931,895 | $30,202 | $33,568 | $17,177 | $91,453 | $1,025 | $1,157 | $1,973,159 | $10,156 | ($226,002) |
Balances (in shares) at Dec. 31, 2013 | 115,755,527 | ' | ' | ' | ' | ' | 115,755,527 | ' | ' | ' |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Consolidated Statements of Stockholders' Equity | ' | ' | ' |
Dividends paid on common stock, per share | $1.45 | $0.85 | $0.56 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income | $185,556 | $127,689 | $58,423 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 95,232 | 74,453 | 58,014 |
Amortization of deferred financing costs | 5,997 | 5,889 | 5,583 |
Loss on extinguishment of debt related to portfolio acquisition | 9,153 | ' | ' |
Gain on sale of real estate assets | -960 | ' | ' |
Non-cash interest expense related to amortization of discount on exchangeable senior notes | 1,404 | 444 | 1,761 |
Non-cash interest expense related to amortization of premium on notes payable | -1,194 | -1,270 | ' |
Compensation expense related to stock-based awards | 4,819 | 4,356 | 5,757 |
Gain on purchase of joint venture partners' interests | -46,032 | -23,670 | ' |
Distributions from unconsolidated real estate ventures in excess of earnings | 4,838 | 2,581 | 7,008 |
Changes in operating assets and liabilities: | ' | ' | ' |
Receivables from related parties and affiliated real estate joint ventures | 1,277 | 7,439 | -8,634 |
Other assets | 8,725 | 8,746 | 7,533 |
Accounts payable and accrued expenses | 8,302 | 7,220 | 9,837 |
Other liabilities | -5,858 | 2,002 | -1,118 |
Net cash provided by operating activities | 271,259 | 215,879 | 144,164 |
Cash flows from investing activities: | ' | ' | ' |
Acquisition, development and redevelopment of real estate assets | -356,425 | -605,486 | -202,019 |
Proceeds from sale of real estate assets | 6,964 | ' | ' |
Investments in unconsolidated real estate ventures | -1,516 | -1,423 | -4,088 |
Return of investment in unconsolidated real estate ventures | ' | 2,421 | 4,614 |
Change in restricted cash | -4,475 | 8,792 | 4,730 |
Purchase/issuance of notes receivable | -5,000 | -7,875 | -50,140 |
Purchase of equipment and fixtures | -6,524 | -3,367 | -5,016 |
Net cash used in investing activities | -366,976 | -606,938 | -251,919 |
Cash flows from financing activities: | ' | ' | ' |
Proceeds from the sale of common stock, net of offering costs | 205,988 | 429,588 | 112,349 |
Net proceeds from issuance of exchangeable senior notes | 246,250 | ' | ' |
Proceeds from notes payable and lines of credit | 582,185 | 1,074,263 | 475,487 |
Principal payments on notes payable and lines of credit, including defeasance | -664,372 | -921,831 | -452,347 |
Deferred financing costs | -7,975 | -11,607 | -6,197 |
Repurchase of exchangeable senior notes | ' | -87,663 | ' |
Redemption of Operating Partnership units held by noncontrolling interest | -41 | -155 | -271 |
Net proceeds from exercise of stock options | 5,896 | 10,267 | 18,622 |
Dividends paid on common stock | -163,014 | -88,287 | -52,027 |
Distributions to noncontrolling interests | -13,262 | -9,215 | -8,127 |
Net cash provided by financing activities | 191,655 | 395,360 | 87,489 |
Net increase (decrease) in cash and cash equivalents | 95,938 | 4,301 | -20,266 |
Cash and cash equivalents, beginning of the period | 30,785 | 26,484 | 46,750 |
Cash and cash equivalents, end of the period | 126,723 | 30,785 | 26,484 |
Supplemental schedule of cash flow information | ' | ' | ' |
Interest paid, net of amounts capitalized | 65,511 | 65,687 | 61,726 |
Income taxes paid | 1,916 | 831 | 665 |
Redemption of Operating Partnership units held by noncontrolling interests for common stock: | ' | ' | ' |
Noncontrolling interests in Operating Partnership | 260 | 2,479 | 2,344 |
Common stock and paid-in capital | -260 | -2,479 | -2,344 |
Tax effect from vesting of restricted stock grants and stock option exercises | ' | ' | ' |
Other assets | 3,193 | 3,476 | 2,199 |
Paid-in capital | -3,193 | -3,476 | -2,199 |
Acquisitions of real estate assets | ' | ' | ' |
Real estate assets, net | 331,230 | 159,297 | 137,177 |
Notes payable assumed | -110,803 | -150,284 | -132,327 |
Notes payable assumed and immediately defeased | -98,960 | ' | ' |
Notes payable issued to seller | ' | -8,584 | -4,850 |
Value of Operating Partnership units issued | -119,216 | -429 | ' |
Receivables from related parties and affiliated joint ventures | ($2,251) | ' | ' |
DESCRIPTION_OF_BUSINESS
DESCRIPTION OF BUSINESS | 12 Months Ended |
Dec. 31, 2013 | |
DESCRIPTION OF BUSINESS | ' |
DESCRIPTION OF BUSINESS | ' |
1. DESCRIPTION OF BUSINESS | |
Extra Space Storage Inc. (the "Company") is a fully integrated, self-administered and self-managed real estate investment trust ("REIT"), formed as a Maryland Corporation on April 30, 2004, to own, operate, manage, acquire, develop and redevelop professionally managed self-storage facilities located throughout the United States. The Company continues the business of Extra Space Storage LLC and its subsidiaries, which had engaged in the self-storage business since 1977. The Company's interest in its properties is held through its operating partnership, Extra Space Storage LP (the "Operating Partnership"), which was formed on May 5, 2004. The Company's primary assets are general partner and limited partner interests in the Operating Partnership. This structure is commonly referred to as an umbrella partnership REIT, or UPREIT. The Company has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"). To the extent the Company continues to qualify as a REIT, it will not be subject to tax, with certain limited exceptions, on the taxable income that is distributed to its stockholders. | |
The Company invests in self-storage facilities by acquiring wholly-owned facilities or by acquiring an equity interest in real estate entities. At December 31, 2013, the Company had direct and indirect equity interests in 779 storage facilities. In addition, the Company managed 250 properties for third parties bringing the total number of properties which it owns and/or manages to 1,029. These properties are located in 35 states, Washington, D.C. and Puerto Rico. | |
The Company operates in three distinct segments: (1) rental operations; (2) tenant reinsurance; and (3) property management, acquisition and development. The rental operations activities include rental operations of self-storage facilities in which we have an ownership interest. No single tenant accounts for more than 5% of rental income. Tenant reinsurance activities include the reinsurance of risks relating to the loss of goods stored by tenants in the Company's self-storage facilities. The Company's property management, acquisition and development activities include managing, acquiring, developing and selling self-storage facilities. | |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' | |||||||||||||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' | |||||||||||||
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||||||
Basis of Presentation | ||||||||||||||
The consolidated financial statements are presented on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles ("GAAP") and include the accounts of the Company and its wholly- or majority- owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. | ||||||||||||||
Variable Interest Entities | ||||||||||||||
The Company accounts for arrangements that are not controlled through voting or similar rights as variable interest entities ("VIEs"). An enterprise is required to consolidate a VIE if it is the primary beneficiary of the VIE. A VIE is created when (i) the equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support from other parties, or (ii) the entity's equity holders as a group either: (a) lack the power, through voting or similar rights, to direct the activities of the entity that most significantly impact the entity's economic performance, (b) are not obligated to absorb expected losses of the entity if they occur, or (c) do not have the right to receive expected residual returns of the entity if they occur. If an entity is deemed to be a VIE, the enterprise that is deemed to have a variable interest, or combination of variable interests, that provides the enterprise with a controlling financial interest in the VIE, is considered the primary beneficiary and must consolidate the VIE. | ||||||||||||||
The Company has concluded that under certain circumstances when the Company (1) enters into option agreements for the purchase of land or facilities from an entity and pays a non-refundable deposit, or (2) enters into arrangements for the formation of joint ventures, a VIE may be created under condition (i), (ii) (b) or (c) of the previous paragraph. For each VIE created, the Company has performed a qualitative analysis, including considering which party, if any, has the power to direct the activities most significant to the economic performance of each VIE and whether that party has the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could be significant to the VIE. If the Company is determined to be the primary beneficiary of the VIE, the assets, liabilities and operations of the VIE are consolidated with the Company's financial statements. Additionally, the Operating Partnership has notes payable to three trusts that are VIEs under condition (ii)(a) above. Since the Operating Partnership is not the primary beneficiary of the trusts, these VIEs are not consolidated. | ||||||||||||||
The Company's investments in real estate joint ventures, where the Company has significant influence, but not control, and joint ventures which are VIEs in which the Company is not the primary beneficiary, are recorded under the equity method of accounting on the accompanying consolidated financial statements. | ||||||||||||||
Use of Estimates | ||||||||||||||
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||||||||||||
Reclassifications | ||||||||||||||
Certain amounts in the 2012 and 2011 financial statements and supporting note disclosures have been reclassified to conform to the current year presentation. Such reclassifications did not impact previously reported net income or accumulated deficit. | ||||||||||||||
Fair Value Disclosures | ||||||||||||||
Derivative financial instruments | ||||||||||||||
Currently, the Company uses interest rate swaps to manage its interest rate risk. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of future interest rates (forward curves) derived from observable market interest rate forward curves. | ||||||||||||||
The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty's nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. In conjunction with the Financial Accounting Standard Board's fair value measurement guidance, the Company made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio. | ||||||||||||||
Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of December 31, 2013, the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. | ||||||||||||||
The table below presents the Company's assets and liabilities measured at fair value on a recurring basis as of December 31, 2013, aggregated by the level in the fair value hierarchy within which those measurements fall. | ||||||||||||||
Fair Value Measurements at | ||||||||||||||
Reporting Date Using | ||||||||||||||
Description | December 31, | Quoted Prices | Significant | Significant | ||||||||||
2013 | in Active | Other | Unobservable | |||||||||||
Markets for | Observable | Inputs | ||||||||||||
Identical | Inputs | (Level 3) | ||||||||||||
Assets (Level 1) | (Level 2) | |||||||||||||
Other assets—Cash Flow Hedge Swap Agreements | $ | 13,630 | $ | — | $ | 13,630 | $ | — | ||||||
Other liabilities—Cash Flow Hedge Swap Agreements | $ | (3,684 | ) | $ | — | $ | (3,684 | ) | $ | — | ||||
There were no transfers of assets and liabilities between Level 1 and Level 2 during the year ended December 31, 2013. The Company did not have any significant assets or liabilities that are re-measured on a recurring basis using significant unobservable inputs as of December 31, 2013 or 2012. | ||||||||||||||
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | ||||||||||||||
Long-lived assets held for use are evaluated by the Company for impairment when events or circumstances indicate that there may be impairment. The Company reviews each self-storage facility at least annually to determine if any such events or circumstances have occurred or exist. The Company focuses on facilities where occupancy and/or rental income have decreased by a significant amount. For these facilities, the Company determines whether the decrease is temporary or permanent and whether the facility will likely recover the lost occupancy and/or revenue in the short term. In addition, the Company reviews facilities in the lease-up stage and compares actual operating results to original projections. | ||||||||||||||
When the Company determines that an event that may indicate impairment has occurred, the Company compares the carrying value of the related long-lived assets to the undiscounted future net operating cash flows attributable to the assets. An impairment loss is recorded if the net carrying value of the assets exceeds the undiscounted future net operating cash flows attributable to the assets. The impairment loss recognized equals the excess of net carrying value over the related fair value of the assets. | ||||||||||||||
When real estate assets are identified by management as held for sale, the Company discontinues depreciating the assets and estimates the fair value of the assets, net of selling costs. If the estimated fair value, net of selling costs, of the assets that have been identified for sale is less than the net carrying value of the assets, then a valuation allowance is established. The operations of assets held for sale or sold during the period are generally presented as discontinued operations for all periods presented. | ||||||||||||||
The Company assesses whether there are any indicators that the value of the Company's investments in unconsolidated real estate ventures may be impaired annually and when events or circumstances indicate that there may be impairment. An investment is impaired if management's estimate of the fair value of the investment is less than its carrying value. To the extent impairment has occurred, and is considered to be other than temporary, the loss is measured as the excess of the carrying amount of the investment over the fair value of the investment. | ||||||||||||||
As of December 31, 2013 and 2012, the Company did not have any assets or liabilities measured at fair value on a nonrecurring basis. | ||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||
The carrying values of cash and cash equivalents, restricted cash, receivables, other financial instruments included in other assets, accounts payable and accrued expenses, variable-rate notes payable, lines of credit and other liabilities reflected in the consolidated balance sheets at December 31, 2013 and 2012, approximate fair value. | ||||||||||||||
The fair values of the Company's note receivable from Preferred Operating Partnership unit holders was based on the discounted estimated future cash flows of the note (categorized within Level 3 of the fair value hierarchy); the discount rate used approximated the current market rate for loans with similar maturities and credit quality. The fair values of the Company's fixed rate notes payable and notes payable to trusts were estimated using the discounted estimated future cash payments to be made on such debt (categorized within Level 3 of the fair value hierarchy); the discount rates used approximated current market rates for loans, or groups of loans, with similar maturities and credit quality. The fair value of the Company's exchangeable senior notes was estimated using an average market price for similar securities obtained from a third party. | ||||||||||||||
The fair values of the Company's fixed-rate assets and liabilities were as follows for the periods indicated: | ||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||
Fair | Carrying | Fair | Carrying | |||||||||||
Value | Value | Value | Value | |||||||||||
Note receivable from Preferred Operating Partnership unit holders | $ | 103,491 | $ | 100,000 | $ | 108,138 | $ | 100,000 | ||||||
Fixed rate notes payable and notes payable to trusts | $ | 1,365,290 | $ | 1,368,885 | $ | 1,342,957 | $ | 1,275,605 | ||||||
Exchangeable senior notes | $ | 251,103 | $ | 250,000 | $ | — | $ | — | ||||||
Real Estate Assets | ||||||||||||||
Real estate assets are stated at cost, less accumulated depreciation. Direct and allowable internal costs associated with the development, construction, renovation, and improvement of real estate assets are capitalized. Interest, property taxes, and other costs associated with development incurred during the construction period are capitalized. The construction period begins when expenditures for the real estate assets have been made and activities that are necessary to prepare the asset for its intended use are in progress. The construction period ends when the asset is substantially complete and ready for its intended use. Capitalized interest during the years ended December 31, 2013, 2012 and 2011, was $0, $0 and $752, respectively. | ||||||||||||||
Expenditures for maintenance and repairs are charged to expense as incurred. Major replacements and betterments that improve or extend the life of the asset are capitalized and depreciated over their estimated useful lives. Depreciation is computed using the straight-line method over the estimated useful lives of the buildings and improvements, which are generally between five and 39 years. | ||||||||||||||
In connection with the Company's acquisition of self-storage facilities, the purchase price is allocated to the tangible and intangible assets and liabilities acquired based on their fair values, which are estimated using significant unobservable inputs. The value of the tangible assets, consisting of land and buildings, are determined as if vacant. Intangible assets, which represent the value of existing tenant relationships, are recorded at their fair values based on the avoided cost to replace the current leases. The Company measures the value of tenant relationships based on the rent lost due to the amount of time required to replace existing customers which is based on the Company's historical experience with turnover in its facilities. Debt assumed as part of an acquisition is recorded at fair value based on current interest rates compared to contractual rates. Acquisition-related transaction costs are expensed as incurred. | ||||||||||||||
Intangible lease rights represent: (1) purchase price amounts allocated to leases on three properties that cannot be classified as ground or building leases; these rights are amortized to expense over the life of the leases and (2) intangibles related to ground leases on five properties where the leases were assumed by the Company at rates that were lower than the current market rates for similar leases. The values associated with these assumed leases were recorded as intangibles, which will be amortized over the lease terms. | ||||||||||||||
Investments in Real Estate Ventures | ||||||||||||||
The Company's investments in real estate joint ventures, where the Company has significant influence, but not control and joint ventures which are VIEs in which the Company is not the primary beneficiary, are recorded under the equity method of accounting in the accompanying consolidated financial statements. | ||||||||||||||
Under the equity method, the Company's investment in real estate ventures is stated at cost and adjusted for the Company's share of net earnings or losses and reduced by distributions. Equity in earnings of real estate ventures is generally recognized based on the Company's ownership interest in the earnings of each of the unconsolidated real estate ventures. For the purposes of presentation in the statement of cash flows, the Company follows the "look through" approach for classification of distributions from joint ventures. Under this approach, distributions are reported under operating cash flow unless the facts and circumstances of a specific distribution clearly indicate that it is a return of capital (e.g., a liquidating dividend or distribution of the proceeds from the joint venture's sale of assets), in which case it is reported as an investing activity. | ||||||||||||||
Cash and Cash Equivalents | ||||||||||||||
The Company's cash is deposited with financial institutions located throughout the United States and at times may exceed federally insured limits. The Company considers all highly liquid debt instruments with a maturity date of three months or less to be cash equivalents. | ||||||||||||||
Restricted Cash | ||||||||||||||
Restricted cash is comprised of letters of credit and escrowed funds deposited with financial institutions located throughout the United States relating to earnest money deposits on potential acquisitions, real estate taxes, insurance and capital expenditures. | ||||||||||||||
Other Assets | ||||||||||||||
Other assets consist primarily of equipment and fixtures, deferred financing costs, customer accounts receivable, investments in trusts, other intangible assets, income taxes receivable, deferred tax assets, prepaid expenses and the fair value of interest rate swaps. Depreciation of equipment and fixtures is computed on a straight-line basis over three to five years. Deferred financing costs are amortized to interest expense using the effective interest method over the terms of the respective debt agreements. | ||||||||||||||
Derivative Instruments and Hedging Activities | ||||||||||||||
The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. | ||||||||||||||
The Company made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio. | ||||||||||||||
Risk Management and Use of Financial Instruments | ||||||||||||||
In the normal course of its ongoing business operations, the Company encounters economic risk. There are three main components of economic risk: interest rate risk, credit risk and market risk. The Company is subject to interest rate risk on its interest-bearing liabilities. Credit risk is the risk of inability or unwillingness of tenants to make contractually required payments. Market risk is the risk of declines in the value of properties due to changes in rental rates, interest rates or other market factors affecting the value of properties held by the Company. The Company has entered into interest rate swap agreements to manage a portion of its interest rate risk. | ||||||||||||||
Exchange of Common Operating Partnership Units | ||||||||||||||
Redemption of common Operating Partnership units for share of common stock, when redeemed under the original provisions of the Operating Partnership agreement, are accounted for by reclassifying the underlying net book value of the units from noncontrolling interest to the Company's equity. The difference between the fair value of the consideration paid and the adjustment to the carrying amount of the noncontrolling interest is recognized as additional paid in capital for the Company. | ||||||||||||||
Revenue and Expense Recognition | ||||||||||||||
Rental revenues are recognized as earned based upon amounts that are currently due from tenants. Leases are generally on month-to-month terms. Prepaid rents are recognized on a straight-line basis over the term of the leases. Promotional discounts are recognized as a reduction to rental income over the promotional period. Late charges, administrative fees, merchandise sales and truck rentals are recognized as income when earned. Management fee revenues are recognized monthly as services are performed and in accordance with the terms of the related management agreements. Equity in earnings of unconsolidated real estate entities is recognized based on our ownership interest in the earnings of each of the unconsolidated real estate entities. Interest income is recognized as earned. | ||||||||||||||
Property expenses, including utilities, property taxes, repairs and maintenance and other costs to manage the facilities are recognized as incurred. The Company accrues for property tax expense based upon invoice amounts, estimates and historical trends. If these estimates are incorrect, the timing of expense recognition could be affected. | ||||||||||||||
Tenant reinsurance premiums are recognized as revenue over the period of insurance coverage. The Company records an unpaid claims liability at the end of each period based on existing unpaid claims and historical claims payment history. The unpaid claims liability represents an estimate of the ultimate cost to settle all unpaid claims as of each period end, including both reported but unpaid claims and claims that may have been incurred but have not been reported. The Company uses a third party claims administrator to adjust all tenant reinsurance claims received. The administrator evaluates each claim to determine the ultimate claim loss and includes an estimate for claims that may have been incurred but not reported. Annually, a third party actuary evaluates the adequacy of the unpaid claims liability. Prior year claim reserves are adjusted as experience develops or new information becomes known. The impact of such adjustments is included in the current period operations. The unpaid claims liability is not discounted to its present value. Each tenant chooses the amount of insurance coverage they want through the tenant reinsurance program. Tenants can purchase policies in amounts of two thousand dollars to ten thousand dollars of insurance coverage in exchange for a monthly fee. As of December 31, 2013, the average insurance coverage for tenants was approximately two thousand two hundred dollars. The Company's exposure per claim is limited by the maximum amount of coverage chosen by each tenant. The Company purchases reinsurance for losses exceeding a set amount for any one event. The Company does not currently have any amounts recoverable under the reinsurance arrangements. | ||||||||||||||
Real Estate Sales | ||||||||||||||
In general, sales of real estate and related profits/losses are recognized when all consideration has changed hands and risks and rewards of ownership have been transferred. Certain types of continuing involvement preclude sale treatment and related profit recognition; other forms of continuing involvement allow for sale recognition but require deferral of profit recognition. | ||||||||||||||
Advertising Costs | ||||||||||||||
The Company incurs advertising costs primarily attributable to internet, directory and other advertising. These costs are expensed as incurred. The Company recognized $6,482, $6,026, and $5,958 in advertising expense for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||
Income Taxes | ||||||||||||||
The Company has elected to be treated as a REIT under Sections 856 through 860 of the Internal Revenue Code. In order to maintain its qualification as a REIT, among other things, the Company is required to distribute at least 90% of its REIT taxable income to its stockholders and meet certain tests regarding the nature of its income and assets. As a REIT, the Company is not subject to federal income tax with respect to that portion of its income which meets certain criteria and is distributed annually to stockholders. The Company plans to continue to operate so that it meets the requirements for taxation as a REIT. Many of these requirements, however, are highly technical and complex. If the Company were to fail to meet these requirements, it would be subject to federal income tax. The Company is subject to certain state and local taxes. Provision for such taxes has been included in income tax expense on the Company's consolidated statements of operations. For the year ended December 31, 2013, 21.4% (unaudited) of all distributions to stockholders qualified as a return of capital. | ||||||||||||||
The Company has elected to treat its corporate subsidiary, Extra Space Management, Inc. ("ESMI"), as a taxable REIT subsidiary ("TRS"). In general, the Company's TRS may perform additional services for tenants and may engage in any real estate or non-real estate related business. A TRS is subject to corporate federal income tax. ESM Reinsurance Limited, a wholly-owned subsidiary of ESMI, generates income from insurance premiums that are subject to corporate federal income tax and state insurance premiums tax. | ||||||||||||||
Deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities. At December 31, 2013 and 2012, there were no material unrecognized tax benefits. Interest and penalties relating to uncertain tax positions will be recognized in income tax expense when incurred. As of December 31, 2013 and 2012, the Company had no interest or penalties related to uncertain tax provisions. | ||||||||||||||
Stock-Based Compensation | ||||||||||||||
The measurement and recognition of compensation expense for all share-based payment awards to employees and directors are based on estimated fair values. Awards granted are valued at fair value and any compensation element is recognized on a straight line basis over the service periods of each award. | ||||||||||||||
Earnings Per Common Share | ||||||||||||||
Basic earnings per common share is computed by dividing net income attributable to common stockholders by the weighted average number of shares outstanding during the period. All outstanding unvested restricted stock awards contain rights to non-forfeitable dividends and participate in undistributed earnings with common stockholders; accordingly, they are considered participating securities that are included in the two-class method of computing basic earnings per common share. Diluted earnings per common share measures the performance of the Company over the reporting period while giving effect to all potential common shares that were dilutive and outstanding during the period. The denominator includes the weighted average number of basic shares and the number of additional weighted average common shares that would have been outstanding if the potential common shares that were dilutive had been issued, and is calculated using either the treasury stock or as if-converted method. Potential common shares are securities (such as options, convertible debt, redeemable Series A Participating Redeemable Preferred Units ("Series A Units"), Series B Redeemable Preferred Units, ("Series B Units"), redeemable and convertible Series C Convertible Redeemable Preferred Units ("Series C Units") and redeemable Operating Partnership units ("OP Units")) that do not have a current right to participate in earnings but could do so in the future by virtue of their option, or redemption right. In computing the dilutive effect of convertible securities, net income is adjusted to add back any changes in earnings in the period associated with the convertible security. The numerator also is adjusted for the effects of any other non-discretionary changes in income or loss that would result from the assumed conversion of those potential common shares. In computing diluted earnings per common share, only potential common shares that are dilutive (those that reduce earnings per share) are included. For the years ended December 31, 2013, 2012 and 2011, options to purchase approximately 44,958 shares, 57,335 shares and 107,523 shares of common stock, respectively, were excluded from the computation of earnings per share as their effect would have been anti-dilutive. As of December 31, 2013, 3,334,956 OP Units, 257,266 Series B Units, and 33,202 Series C Units were excluded from the computation of earnings per share as their effect would have been anti-dilutive. As of December 31, 2012 and 2011, 2,755,650 OP Units and 3,049,935 OP Units, respectively, were excluded from the computation of earnings per share as their effect would have been anti-dilutive. | ||||||||||||||
The Company's Operating Partnership had $250,000 of its 2.375% Exchangeable Senior Notes due 2033 (the "Notes due 2033") issued and outstanding as of December 31, 2013. The Notes due 2033 could potentially have a dilutive impact on the Company's earnings per share calculations. The Notes due 2033 are exchangeable by holders into shares of the Company's common stock under certain circumstances per the terms of the indenture governing the Notes due 2033. The exchange price of the Notes due 2033 was $55.69 per share as of December 31, 2013, and could change over time as described in the indenture. The Company has irrevocably agreed to pay only cash for the accreted principal amount of the Notes due 2033 relative to its exchange obligations, but retained the right to satisfy the exchange obligation in excess of the accreted principal amount in cash and/or common stock. Though the Company has retained that right, Accounting Standards Codification ("ASC") 260, "Earnings per Share," requires an assumption that shares would be used to pay the exchange obligation in excess of the accreted principal amount, and requires that those shares be included in the Company's calculation of weighted average common shares outstanding for the diluted earnings per share computation. For the year ended December 31, 2013, no shares related to the Notes due 2033 were included in the computation for diluted earnings per share as the per share price of the Company's common stock during this period did not exceed the exchange price. | ||||||||||||||
The Company's Operating Partnership had $87,663 of Exchangeable Senior Notes due 2027 (the "Notes due 2027") that were surrendered for exchange in April 2012. Prior to their exchange, the Notes due 2027 could potentially have had a dilutive effect on the Company's earnings per share calculations. The Notes due 2027 were exchangeable by holders into cash and shares of the Company's common stock under certain circumstances per the terms of the indenture governing the Notes due 2027 and at the time prior to surrender had an exchange price of $23.20 per share. The Company had irrevocably agreed to pay only cash for the accreted principal amount of the Notes due 2027 relative to its exchange obligations, but retained the right to satisfy the exchange obligations in excess of the accreted principal amount in cash and/or common stock. Though the Company retained that right, ASC 260 required an assumption that shares would be used to pay the exchange obligations in excess of the accreted principal amount, and required that those shares be included in the Company's calculation of weighted average common shares outstanding for the diluted earnings per share computation. No shares were included in the diluted share calculation for the year ended December 31, 2011 as the stock price during this time did not exceed the exchange price. No shares were included for the year ended December 31, 2012 as the Notes due 2027 were no longer outstanding. | ||||||||||||||
For the purposes of computing the diluted impact on earnings per share of the potential exchange of Series A Units for common shares upon redemption, where the Company has the option to redeem in cash or shares and where the Company has stated the positive intent and ability to settle at least $115,000 of the instrument in cash (or net settle a portion of the Series A Units against the related outstanding note receivable), only the amount of the instrument in excess of $115,000 is considered in the calculation of shares contingently issuable for the purposes of computing diluted earnings per share as allowed by ASC 260-10-45-46. | ||||||||||||||
For the purposes of computing the diluted impact on earnings per share of the potential exchange of Series B Units for common shares upon redemption, where the Company has the option to redeem in cash or shares and where the Company has stated the intent and ability to settle the redemption in shares, the Company divided the total value of the Series B Units outstanding as of December 31, 2013 of $33,568 by the closing price of the Company's common stock as of December 31, 2013 of $42.13 per share. Assuming full exchange for common shares as of December 31, 2013, 796,776 shares would have been issued to the holders of the Series B Units. | ||||||||||||||
For the purposes of computing the diluted impact on earnings per share of the potential exchange of Series C Units into common shares upon redemption, where the Company has the option to redeem in cash or shares and where the Company has stated the intent and ability to settle the redemption in shares, the Company divided the total value of the Series C Units outstanding as of December 31, 2013 of $17,177 by the closing price of the Company's common stock as of December 31, 2013 of $42.13 per share. Assuming full exchange for common shares as of December 31, 2013, 407,705 shares would have been issued to the holders of the Series C Units. | ||||||||||||||
The computation of earnings per share is as follows for the periods presented: | ||||||||||||||
For the Year Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Net income attributable to common stockholders | $ | 172,076 | $ | 117,309 | $ | 50,449 | ||||||||
Earnings and dividends allocated to participating securities | (567 | ) | (279 | ) | (365 | ) | ||||||||
| | | | | | | | | | | ||||
Earnings for basic computations | 171,509 | 117,030 | 50,084 | |||||||||||
Earnings and dividends allocated to participating securities | 567 | 279 | 365 | |||||||||||
Add: Income allocated to noncontrolling interest—Preferred Operating Partnership and Operating Partnership | 7,255 | 6,876 | 6,289 | |||||||||||
Subtract: Fixed component of income allocated to noncontrolling interest—Preferred Operating Partnership | (5,750 | ) | (5,750 | ) | (5,750 | ) | ||||||||
| | | | | | | | | | | ||||
Net income for diluted computations | $ | 173,581 | $ | 118,435 | $ | 50,988 | ||||||||
| | | | | | | | | | | ||||
| | | | | | | | | | | ||||
Weighted average common shares outstanding: | ||||||||||||||
Average number of common shares outstanding—basic | 111,349,361 | 101,766,385 | 91,301,265 | |||||||||||
Series A Units | 989,980 | 989,980 | 989,980 | |||||||||||
Dilutive and cancelled stock options and restricted stock awards | 765,753 | 1,011,000 | 1,342,328 | |||||||||||
| | | | | | | | | | | ||||
Average number of common shares outstanding—diluted | 113,105,094 | 103,767,365 | 93,633,573 | |||||||||||
Earnings per common share | ||||||||||||||
Basic | $ | 1.54 | $ | 1.15 | $ | 0.55 | ||||||||
Diluted | $ | 1.53 | $ | 1.14 | $ | 0.54 | ||||||||
Recently Issued Accounting Standards | ||||||||||||||
In February 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2013-02 "Comprehensive Income—Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income," which supersedes and replaces the presentation requirements for reclassifications out of accumulated other comprehensive income in ASUs 2011-05 and 2011-12. The amendment requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under GAAP. For other amounts that are not required under GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under GAAP that provide additional detail about those amounts. ASU 2013-02 was effective for fiscal years, and interim periods within those years, beginning on or after December 15, 2012. The Company adopted the amended standard beginning January 1, 2013 and presents accumulated other comprehensive income in accordance with the requirements of the standard. | ||||||||||||||
REAL_ESTATE_ASSETS
REAL ESTATE ASSETS | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
REAL ESTATE ASSETS | ' | |||||||
REAL ESTATE ASSETS | ' | |||||||
3. REAL ESTATE ASSETS | ||||||||
The components of real estate assets are summarized as follows: | ||||||||
December 31, 2013 | December 31, 2012 | |||||||
Land—operating | $ | 1,009,500 | $ | 755,565 | ||||
Land—development | 10,421 | 12,050 | ||||||
Buildings and improvements | 3,032,218 | 2,551,886 | ||||||
Intangible assets—tenant relationships | 65,811 | 51,355 | ||||||
Intangible lease rights | 8,698 | 8,656 | ||||||
| | | | | | | | |
4,126,648 | 3,379,512 | |||||||
Less: accumulated depreciation and amortization | (496,754 | ) | (391,928 | ) | ||||
| | | | | | | | |
Net operating real estate assets | 3,629,894 | 2,987,584 | ||||||
Real estate under development/redevelopment | 6,650 | 4,138 | ||||||
| | | | | | | | |
Net real estate assets | $ | 3,636,544 | $ | 2,991,722 | ||||
| | | | | | | | |
| | | | | | | | |
Real estate assets held for sale included in net real estate assets | $ | 5,625 | $ | 8,600 | ||||
| | | | | | | | |
| | | | | | | | |
The Company amortizes to expense intangible assets—tenant relationships on a straight-line basis over the average period that a tenant is expected to utilize the facility (currently estimated at 18 months). The Company amortizes to expense the intangible lease rights over the terms of the related leases. Amortization related to the tenant relationships and lease rights was $12,065, $7,177 and $2,633, for the years ended December 31, 2013, 2012 and 2011, respectively. The remaining balance of the unamortized lease rights will be amortized over the next 5 to 49 years. | ||||||||
Real estate assets held for sale included in net real estate assets as of December 31, 2013 are recorded at fair value and consist of undeveloped land. | ||||||||
PROPERTY_ACQUISITIONS_AND_DISP
PROPERTY ACQUISITIONS AND DISPOSITIONS | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||
PROPERTY ACQUISITIONS AND DISPOSITIONS | ' | |||||||||||||||||||||||||||||||||||||||||||||
PROPERTY ACQUISITIONS AND DISPOSITIONS | ' | |||||||||||||||||||||||||||||||||||||||||||||
4. PROPERTY ACQUISITIONS AND DISPOSITIONS | ||||||||||||||||||||||||||||||||||||||||||||||
The following table shows the Company's acquisition of operating properties for the years ended December 31, 2013 and 2012, and does not include purchases of raw land or improvements made to existing assets: | ||||||||||||||||||||||||||||||||||||||||||||||
Consideration Paid | Acquisition Date Fair Value | |||||||||||||||||||||||||||||||||||||||||||||
Property Location | Number of | Date of | Total | Cash Paid | Loan | Non-cash | Notes | Previous | Net | Value of | Number of | Land | Building | Intangible | Closing | Notes | ||||||||||||||||||||||||||||||
Properties | Acquisition | Assumed | gain | Issued | equity | Liabilities/ | OP Units | OP Units | costs— | |||||||||||||||||||||||||||||||||||||
to/from | interest | (Assets) Assumed | Issued | Issued | expensed | |||||||||||||||||||||||||||||||||||||||||
Seller | ||||||||||||||||||||||||||||||||||||||||||||||
Texas | 1 | 12/9/13 | $ | 4,616 | $ | 4,610 | $ | — | $ | — | $ | — | $ | — | $ | 6 | $ | — | — | $ | 2,033 | $ | 2,495 | $ | 70 | $ | 18 | |||||||||||||||||||
Hawaii | 1 | 12/6/13 | 8,029 | 7,987 | — | — | — | — | 42 | — | — | — | 7,776 | 218 | 35 | |||||||||||||||||||||||||||||||
California | 2 | 12/3/13 | 24,334 | 16,588 | — | 4,208 | — | (1,263 | ) | 67 | 4,734 | 112,446 | 6,061 | 15,402 | 392 | 2,479 | -1 | |||||||||||||||||||||||||||||
California | 6 | 12/2/13 | 48,514 | 26,114 | 4,342 | 5,131 | — | 311 | 173 | 12,443 | 295,550 | 8,859 | 38,347 | 864 | 444 | -1 | ||||||||||||||||||||||||||||||
Florida | 2 | 11/8/13 | 27,547 | 27,572 | — | — | — | — | (25 | ) | — | — | 3,909 | 23,221 | 374 | 43 | ||||||||||||||||||||||||||||||
Florida | 1 | 11/7/13 | 10,500 | 10,460 | — | — | — | — | 40 | — | — | 2,108 | 8,028 | 161 | 203 | |||||||||||||||||||||||||||||||
Various states | 16 | 11/4/13 | 96,711 | 98,424 | — | — | — | — | (1,713 | ) | — | — | 24,248 | 70,160 | 1,874 | 429 | ||||||||||||||||||||||||||||||
Various states | 19 | 11/1/13 | 187,825 | 43,475 | 99,339 | 34,137 | — | 12,373 | (1,499 | ) | — | — | 85,123 | 99,500 | 3,203 | 1 | -2 | |||||||||||||||||||||||||||||
Georgia | 1 | 10/15/13 | 12,414 | 12,382 | — | — | — | — | 32 | — | — | 1,773 | 10,456 | 174 | 11 | |||||||||||||||||||||||||||||||
North Carolina | 1 | 10/15/13 | 5,535 | 5,519 | — | — | — | — | 16 | — | — | 3,614 | 1,788 | 126 | 7 | |||||||||||||||||||||||||||||||
California | 1 | 9/26/13 | 10,928 | 4,791 | — | — | — | — | 51 | 6,086 | 177,107 | 3,138 | 7,429 | 181 | 180 | -3 | ||||||||||||||||||||||||||||||
California | 19 | 8/29/13 | 186,427 | 96,085 | — | — | — | — | 519 | 89,823 | 2,613,728 | 100,446 | 81,830 | 2,997 | 1,154 | -3 | ||||||||||||||||||||||||||||||
Arizona | 2 | 7/25/13 | 9,313 | 9,183 | — | — | — | — | 130 | — | — | 2,001 | 7,110 | 192 | 10 | |||||||||||||||||||||||||||||||
Maryland | 1 | 6/10/13 | 13,688 | 419 | 7,122 | — | — | — | 17 | 6,130 | 143,860 | 2,160 | 11,340 | — | 188 | |||||||||||||||||||||||||||||||
Texas | 1 | 5/8/13 | 7,104 | 7,057 | — | — | — | — | 47 | — | — | 1,374 | 5,636 | 86 | 8 | |||||||||||||||||||||||||||||||
Hawaii | 2 | 5/3/13 | 27,560 | 27,491 | — | — | — | — | 69 | — | — | 5,991 | 20,976 | 438 | 155 | |||||||||||||||||||||||||||||||
Illinois | 1 | 2/13/13 | 11,083 | 7,592 | — | 341 | 2,251 | 1,173 | (274 | ) | — | — | 1,318 | 9,485 | 190 | 90 | ||||||||||||||||||||||||||||||
Maryland | 1 | 2/13/13 | 12,321 | 8,029 | — | 2,215 | — | 2,273 | (196 | ) | — | — | 1,266 | 10,789 | 260 | 6 | ||||||||||||||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
2013 Totals | 78 | $ | 704,449 | $ | 413,778 | $ | 110,803 | $ | 46,032 | $ | 2,251 | $ | 14,867 | $ | (2,498 | ) | $ | 119,216 | 3,342,691 | $ | 255,422 | $ | 431,768 | $ | 11,800 | $ | 5,461 | |||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Florida | 1 | 12/28/12 | $ | 4,270 | $ | 4,258 | $ | — | $ | — | $ | — | $ | — | $ | 12 | $ | — | — | $ | 805 | $ | 3,345 | $ | 95 | $ | 25 | |||||||||||||||||||
Maryland | 1 | 12/27/12 | 13,107 | 10,596 | 2,692 | — | — | — | (181 | ) | — | — | 4,314 | 8,412 | 206 | 175 | ||||||||||||||||||||||||||||||
Arizona | 1 | 12/27/12 | 8,667 | 8,608 | — | — | — | — | 59 | — | — | 2,973 | 5,545 | 141 | 8 | |||||||||||||||||||||||||||||||
Florida | 2 | 12/27/12 | 8,766 | 142 | — | — | 8,584 | — | 40 | — | — | 1,597 | 6,862 | 215 | 92 | -4 | ||||||||||||||||||||||||||||||
Florida | 1 | 12/3/12 | 4,273 | 4,254 | — | — | — | — | 19 | — | — | 1,133 | 3,017 | 99 | 24 | |||||||||||||||||||||||||||||||
Various states | 21 | 11/30/12 | 164,566 | 140,513 | — | 10,171 | — | 14,184 | (302 | ) | — | — | 41,988 | 119,681 | 2,881 | 16 | -5 | |||||||||||||||||||||||||||||
New Jersey | 4 | 11/30/12 | 39,336 | 39,283 | — | — | — | — | 53 | — | — | 10,920 | 26,712 | 825 | 879 | |||||||||||||||||||||||||||||||
Massachusetts | 1 | 11/9/12 | 9,011 | 8,994 | — | — | — | — | 17 | — | — | 3,115 | 5,684 | 190 | 22 | |||||||||||||||||||||||||||||||
Utah | 1 | 9/28/12 | 7,410 | 7,322 | — | — | — | — | 88 | — | — | 2,063 | 5,202 | 132 | 13 | -6 | ||||||||||||||||||||||||||||||
Virginia | 1 | 9/20/12 | 6,884 | 6,850 | — | — | — | — | 34 | — | — | 1,172 | 5,562 | 119 | 31 | |||||||||||||||||||||||||||||||
New Jersey | 1 | 8/28/12 | 13,678 | 13,678 | — | — | — | — | — | — | — | 1,511 | 11,732 | 241 | 194 | |||||||||||||||||||||||||||||||
New Jersey | 1 | 8/23/12 | 9,091 | 9,099 | — | — | — | — | (8 | ) | — | — | 2,144 | 6,660 | 158 | 129 | ||||||||||||||||||||||||||||||
New Jersey | 1 | 8/23/12 | 15,475 | 15,431 | — | — | — | — | 44 | — | — | 1,890 | 13,112 | 269 | 204 | |||||||||||||||||||||||||||||||
New York | 1 | 8/10/12 | 15,300 | 15,377 | — | — | — | — | (77 | ) | — | — | 2,800 | 12,173 | 269 | 58 | ||||||||||||||||||||||||||||||
Texas | 2 | 8/10/12 | 9,948 | 9,775 | — | — | — | — | 173 | — | — | 4,869 | 4,826 | 241 | 12 | |||||||||||||||||||||||||||||||
California | 1 | 7/26/12 | 4,860 | 2,376 | 2,592 | — | — | — | (108 | ) | — | — | 2,428 | 2,317 | 93 | 22 | ||||||||||||||||||||||||||||||
South Carolina | 1 | 7/19/12 | 4,651 | 4,621 | — | — | — | — | 30 | — | — | 1,784 | 2,755 | 107 | 5 | |||||||||||||||||||||||||||||||
New Jersey, New York | 6 | 7/18/12 | 55,622 | 55,748 | — | — | — | — | (126 | ) | — | — | 8,584 | 45,359 | 1,227 | 452 | ||||||||||||||||||||||||||||||
Colorado | 1 | 7/18/12 | 7,085 | 7,038 | — | — | — | — | 47 | — | — | — | 6,945 | 137 | 3 | |||||||||||||||||||||||||||||||
Various states | 36 | 7/2/12 | 322,516 | 162,705 | 145,000 | 13,499 | — | 3,355 | (2,043 | ) | — | — | 67,550 | 246,133 | 8,142 | 691 | -7 | |||||||||||||||||||||||||||||
Maryland | 1 | 5/31/12 | 6,501 | 6,438 | — | — | — | — | 11 | 52 | 1,814 | 1,185 | 5,051 | 147 | 118 | |||||||||||||||||||||||||||||||
Florida | 3 | 5/2/12 | 14,942 | 14,792 | — | — | — | — | 150 | — | — | 1,933 | 12,682 | 321 | 6 | |||||||||||||||||||||||||||||||
Maryland | 1 | 3/7/12 | 6,284 | 5,886 | — | — | — | — | 21 | 377 | 14,193 | 465 | 5,600 | 128 | 91 | |||||||||||||||||||||||||||||||
Texas | 1 | 2/29/12 | 9,405 | 9,323 | — | — | — | — | 82 | — | — | 1,036 | 8,133 | 187 | 49 | |||||||||||||||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
2012 Totals | 91 | $ | 761,648 | $ | 563,107 | $ | 150,284 | $ | 23,670 | $ | 8,584 | $ | 17,539 | $ | (1,965 | ) | $ | 429 | 16,007 | $ | 168,259 | $ | 573,500 | $ | 16,570 | $ | 3,319 | |||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
-1 | ||||||||||||||||||||||||||||||||||||||||||||||
This represents the acquisition of eight properties. The Company previously held no equity interest in three of the properties. For the remaining five, the Company acquired its joint venture partners' 65% interests in five joint ventures, each of which held one property in California, resulting in full ownership by the Company. Prior to the acquisition date the Company accounted for its 35% interests in these joint ventures as equity-method investments. The total acquisition date fair value of the previous equity interests was approximately $8,400 and is included as consideration transferred. The Company recognized non-cash gains of $9,340 as a result of re-measuring its prior equity interests in these joint ventures held before the acquisition. The eight were acquired in exchange for approximately $42,702 of cash and 407,996 Series C Units valued at $17,177. | ||||||||||||||||||||||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||||||||||||||||||||||
This represents the acquisition of a joint venture partner's 49% interest in HSRE-ESP IA, LLC ("HSRE"), an existing joint venture, for $43,475 in cash and the assumption of a $96,516 loan. The result of this acquisition is that the Company owns a 99% interest in HSRE. The joint venture partner retained a 1% interest, which is included in other noncontrolling interests on the Company's consolidated balance sheets. HSRE owns 19 properties in California, Florida, Nevada, Ohio, Pennsylvania, Tennessee, Texas and Virginia. Prior to the acquisition date, the Company accounted for its 50% interest in the joint venture as an equity-method investment. The acquisition date fair value of the previous equity interest was approximately $43,500 which was calculated based on the fair value of the assets in the joint venture, and is included as consideration transferred. The Company recognized a non-cash gain of $34,137 as a result of re-measuring its prior equity interest in HSRE held before the acquisition. The properties are now consolidated as the Company owns the majority interest in the joint venture. A premium of $2,823 on the debt assumed was recorded in order to record the loan at fair value on the date of purchase. This premium is included in premiums on notes payable in the consolidated balance sheets and will be amortized to interest expense over the remaining term of the loan. | ||||||||||||||||||||||||||||||||||||||||||||||
-3 | ||||||||||||||||||||||||||||||||||||||||||||||
On August 29, 2013, the Operating Partnership completed the purchase of 19 out of 20 self-storage facilities affiliated with All Aboard Mini Storage, all of which are located in California. On September 26, 2013, the Operating Partnership completed the purchase of the remaining facility. These properties were acquired in exchange for $100,876 in cash (including $98,960 of debt assumed and immediately defeased at closing), 1,342,727 Series B Units valued at $33,568 and 1,448,108 common OP Units valued at $62,341. In accordance with ASC 805, "Business Combinations," the assumed debt was recorded at its fair value as of the closing date. The difference between the price paid to extinguish the debt, which included $9,153 of defeasance costs, and the carrying value of the debt was recorded as loss on extinguishment of debt related to portfolio acquisition on the Company's Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||||||||||||
-4 | ||||||||||||||||||||||||||||||||||||||||||||||
On May 1, 2012, the Company purchased two notes receivable from Capmark Bank for a total of $7,875. These receivables were due from Spacebox Land O'Lakes, LLC and Spacebox North Fort Myers, LLC (collectively, "Spacebox"), a third party. The notes bore interest at 15% per annum. Spacebox owned two self-storage facilities located in Florida that served as collateral for the notes. On December 27, 2012, the Company acquired the two properties owned by Spacebox in exchange for $142 of cash and forgiveness of the notes, which had an outstanding balance at the time of purchase of $8,584, including accrued interest. | ||||||||||||||||||||||||||||||||||||||||||||||
-5 | ||||||||||||||||||||||||||||||||||||||||||||||
This represents the acquisition of the Company's joint venture partner's 80% interest in the Storage Portfolio Bravo II LLC ("SPB II") joint venture, resulting in full ownership by the Company. The joint venture owned 21 properties in eleven states. Prior to the acquisition date, the Company accounted for its 20% interest in the joint venture as an equity-method investment. The acquisition date fair value of the previous equity interest was approximately $31,500 and is included as consideration transferred. The Company recognized a non-cash gain of $10,171 as a result of re-measuring its prior equity interest in SPB II held before the acquisition. | ||||||||||||||||||||||||||||||||||||||||||||||
-6 | ||||||||||||||||||||||||||||||||||||||||||||||
This property was purchased from Sandy Self Storage, LLC, which was partially owned by Kenneth T. Woolley, the son of Kenneth M. Woolley, Executive Chairman. | ||||||||||||||||||||||||||||||||||||||||||||||
-7 | ||||||||||||||||||||||||||||||||||||||||||||||
This represents the acquisition of Prudential Real Estate Investors' ("PREI®") 94.9% interest in the ESS PRISA III LLC joint venture ("PRISA III") that was formed in 2005, resulting in full ownership by the Company. The joint venture owned 36 properties located in 18 states. Prior to the acquisition date, the Company accounted for its 5.1% interest in PRISA III as an equity-method investment. The acquisition date fair value of the previous equity interest was approximately $16,300 and is included as consideration transferred. The Company recognized a non-cash gain of $13,499 as a result of re-measuring its prior equity interest in PRISA III held before the acquisition. | ||||||||||||||||||||||||||||||||||||||||||||||
On December 11, 2013, the Company sold 50% of its ownership in a parcel of undeveloped land held for sale located in California for $2,025. The buyer holds their 50% interest as a tenant in common. No gain or loss was recorded as a result of the sale. | ||||||||||||||||||||||||||||||||||||||||||||||
On December 6, 2013, the Company sold a property located in Florida for $3,250 in cash. As a result of this transaction, a gain of $160 was recorded. | ||||||||||||||||||||||||||||||||||||||||||||||
In June 2013, the Company recorded a gain of $800 due to the condemnation of a portion of land at one self-storage property in California that resulted from eminent domain. | ||||||||||||||||||||||||||||||||||||||||||||||
On May 16, 2013, the Company sold a property located in New York for $950. No gain or loss was recorded as a result of the sale. | ||||||||||||||||||||||||||||||||||||||||||||||
On July 31, 2012, the Company acquired the land it had previously been leasing associated with a property in Bethesda, Maryland for a cash payment of $3,671. | ||||||||||||||||||||||||||||||||||||||||||||||
As noted above, during the year ended December 31, 2013, the Company acquired 78 properties. The following pro forma financial information includes 55 of the 78 properties acquired. Twenty-three properties were excluded as it was impractical to obtain the historical information from the previous owners and in total they represent an immaterial amount of total revenues. The pro forma information is based on the combined historical financial statements of the Company and 55 of the properties acquired, and presents the Company's results as if the acquisitions had occurred as of January 1, 2012: | ||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||
Total revenues | $ | 558,484 | $ | 457,786 | ||||||||||||||||||||||||||||||||||||||||||
Net income attributable to common stockholders | $ | 189,794 | $ | 132,744 | ||||||||||||||||||||||||||||||||||||||||||
Earnings per common share | ||||||||||||||||||||||||||||||||||||||||||||||
Basic | $ | 1.7 | $ | 1.3 | ||||||||||||||||||||||||||||||||||||||||||
Diluted | $ | 1.7 | $ | 1.3 | ||||||||||||||||||||||||||||||||||||||||||
The following table summarizes the revenues and earnings related to the acquisitions since the acquisition dates, included in the consolidated income statement for the year ended December 31, 2013: | ||||||||||||||||||||||||||||||||||||||||||||||
For the | ||||||||||||||||||||||||||||||||||||||||||||||
Year Ended | ||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||
Total revenues | $ | 17,907 | ||||||||||||||||||||||||||||||||||||||||||||
Net income attributable to common stockholders | $ | 6,132 |
INVESTMENTS_IN_UNCONSOLIDATED_
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES | ' | |||||||||||||||||||
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES | ' | |||||||||||||||||||
5. INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES | ||||||||||||||||||||
Investments in unconsolidated real estate ventures consist of the following: | ||||||||||||||||||||
Investment balance at | ||||||||||||||||||||
Equity | Excess Profit | December 31, | ||||||||||||||||||
Ownership % | Participation % | 2013 | 2012 | |||||||||||||||||
Extra Space West One LLC ("ESW") | 5% | 40% | $ | 138 | $ | 413 | ||||||||||||||
Extra Space West Two LLC ("ESW II") | 5% | 40% | 4,286 | 4,404 | ||||||||||||||||
Extra Space Northern Properties Six LLC ("ESNPS") | 10% | 35% | 263 | 626 | ||||||||||||||||
Extra Space of Santa Monica LLC ("ESSM") | 48% | 48% | 2,541 | 2,655 | ||||||||||||||||
Clarendon Storage Associates Limited Partnership ("Clarendon") | 50% | 50% | 3,155 | 3,160 | ||||||||||||||||
HSRE-ESP IA, LLC ("HSRE") | 99% | 99% | — | 12,506 | ||||||||||||||||
PRISA Self Storage LLC ("PRISA") | 2% | 17% | 10,737 | 10,972 | ||||||||||||||||
PRISA II Self Storage LLC ("PRISA II") | 2% | 17% | 9,143 | 9,331 | ||||||||||||||||
VRS Self Storage LLC ("VRS") | 45% | 54% | 41,810 | 43,107 | ||||||||||||||||
WCOT Self Storage LLC ("WCOT") | 5% | 20% | 4,145 | 4,315 | ||||||||||||||||
Storage Portfolio I LLC ("SP I") | 25% | 25 - 40% | 12,343 | 12,587 | ||||||||||||||||
Extra Space of Eastern Avenue LLC ("Eastern Avenue") | 58% | 40% | — | 2,305 | ||||||||||||||||
Extra Space of Montrose Avenue LLC ("Montrose") | 39% | 50% | — | 1,173 | ||||||||||||||||
Other unconsolidated real estate ventures | 18 - 50% | 19 - 50% | (436 | ) | (1,241 | ) | ||||||||||||||
| | | | | | | | | | | | |||||||||
$ | 88,125 | $ | 106,313 | |||||||||||||||||
| | | | | | | | | | | | |||||||||
In these joint ventures, the Company and the joint venture partner generally receive a preferred return on their invested capital. To the extent that cash/profits in excess of these preferred returns are generated through operations or capital transactions, the Company would receive a higher percentage of the excess cash/profits than its equity interest. | ||||||||||||||||||||
In accordance with ASC 810, the Company reviews all of its joint venture relationships quarterly to ensure that there are no entities that require consolidation. As of December 31, 2013, there were no previously unconsolidated entities that were required to be consolidated as a result of this review. | ||||||||||||||||||||
On December 2, 2013 and December 3, 2013, the Company acquired its joint venture partners' 65% interests in five joint ventures, each of which held one property in California, resulting in full ownership by the Company. Prior to the acquisition date the Company accounted for its 35% interests in these joint ventures as equity-method investments. The total acquisition date fair value of the previous equity interests was approximately $8,400 and is included as consideration transferred. The Company recognized non-cash gains of $9,340 as a result of re-measuring its prior equity interests in these joint ventures held before the acquisition. These five properties were acquired in exchange for approximately $29,054 of cash and 295,107 Series C Units valued at $12,424. These amounts were previously classified in other minority owned properties in the table above. | ||||||||||||||||||||
On November 1, 2013, the Company acquired its joint venture partner's 49% interest in HSRE-ESP IA, LLC ("HSRE"), an existing joint venture, for $43,475 in cash and the assumption of a $96,516 loan. The result of this acquisition is that the Company owns a 99% interest in HSRE. The joint venture partner retained a 1% interest, valued at $870, which was recorded at fair value based on the fair value of the assets in the joint venture and is included in other noncontrolling interests on the Company's consolidated balance sheets. HSRE owns 19 properties in various states. The properties are now consolidated as the Company owns the majority interest in the joint venture. Prior to the acquisition date, the Company accounted for its 50% interest in the joint venture as an equity-method investment. The acquisition date fair value of the previous equity interest was approximately $43,500, and is included as consideration transferred. The Company recognized a non-cash gain of $34,137 as a result of re-measuring its prior equity interest in HSRE held before the acquisition. | ||||||||||||||||||||
On February 13, 2013, the Company acquired its joint venture partner's 48% equity interest in Extra Space of Eastern Avenue LLC ("Eastern Avenue"), which owned one self-storage property located in Maryland, for approximately $5,979. Prior to the acquisition, the remaining 52% interest was owned by the Company, which accounted for its investment in Eastern Avenue using the equity method. The Company recorded a non-cash gain of $2,215 related to this transaction, which represents the increase in fair value of the Company's interest in Eastern Avenue from its formation to the acquisition date. | ||||||||||||||||||||
On February 13, 2013, the Company acquired its joint venture partner's 61% equity interest in Extra Space of Montrose Avenue LLC ("Montrose"), which owned one self-storage property located in Illinois, for approximately $6,878. Prior to the acquisition, the remaining 39% interest was owned by the Company, which accounted for its investment in Montrose using the equity method. The Company recorded a non-cash gain of $341 related to this transaction, which represents the increase in fair value of the Company's interest in the joint venture from its formation to the acquisition date. | ||||||||||||||||||||
On December 20, 2012 two joint ventures in which the Company held 20% interests each sold their only self storage properties. Both properties were located in Illinois. As a result of the sale, the joint ventures were dissolved, and the Company received cash proceeds which resulted in a gain of $1,409. | ||||||||||||||||||||
On November 30, 2012, the Company completed the acquisition of its joint venture partner's 80% interest in SPB II, which owned 21 properties located in eleven states. Prior to the acquisition, the remaining 20% interest was owned by the Company, which accounted for its investment in SPB II using the equity method. Subsequent to the acquisition, the Company had full ownership. GAAP requires an entity that completes a business combination in stages to re-measure its previously held equity interest in the acquiree at its acquisition date fair value and recognize the resulting gain or loss, if any, in earnings. The Company recorded a gain of $10,171 related to this transaction, which represents the increase in fair value of the Company's 20% interest in SPB II from the time the Company purchased its interest in the joint venture to the acquisition date. | ||||||||||||||||||||
On July 2, 2012, the Company completed the acquisition of PREI®'s 94.9% interest in PRISA III, which was formed in 2005 and owned 36 properties located in 18 states. Prior to the acquisition, the remaining 5.1% interest was owned by the Company, which accounted for its investment in PRISA III using the equity method. Subsequent to the acquisition, the Company had full ownership. GAAP requires an entity that completes a business combination in stages to re-measure its previously held equity interest in the acquiree at its acquisition date fair value and recognize the resulting gain or loss, if any, in earnings. The Company recorded a gain of $13,499 related to this transaction, which represents the increase in fair value of the Company's 5.1% interest in PRISA III from the formation of the joint venture to the acquisition date. | ||||||||||||||||||||
On February 17, 2012, a joint venture in which the Company held a 40% equity interest sold its only self-storage property. The property was located in New York. As a result of the sale, the joint venture was dissolved, and the Company received cash proceeds which resulted in a gain of $5,550. | ||||||||||||||||||||
On January 15, 2012, the Company sold its 40% equity interest in U-Storage de Mexico S.A. and related entities to its joint venture partners for $4,841. The Company received cash of $1,492 and a note receivable of $3,349. No gain or loss was recorded on the sale. At December 31, 2013, the balance of the note receivable was $747. The note receivable is due December 15, 2014. | ||||||||||||||||||||
Equity in earnings of unconsolidated real estate ventures consists of the following: | ||||||||||||||||||||
Equity in earnings of real estate ventures consists of the following for the periods ended: | ||||||||||||||||||||
For the Year Ended | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||
Equity in earnings of ESW | $ | 1,406 | $ | 1,263 | $ | 1,156 | ||||||||||||||
Equity in earnings (losses) of ESW II | 50 | 26 | (8 | ) | ||||||||||||||||
Equity in earnings of ESNPS | 461 | 382 | 338 | |||||||||||||||||
Equity in earnings of ESSM | 369 | 314 | 114 | |||||||||||||||||
Equity in earnings of Clarendon | 516 | 471 | 465 | |||||||||||||||||
Equity in earnings of HSRE | 1,428 | 1,298 | 388 | |||||||||||||||||
Equity in earnings of PRISA | 890 | 821 | 674 | |||||||||||||||||
Equity in earnings of PRISA II | 703 | 643 | 530 | |||||||||||||||||
Equity in earnings of PRISA III | — | 187 | 330 | |||||||||||||||||
Equity in earnings of VRS | 3,464 | 2,849 | 2,279 | |||||||||||||||||
Equity in earnings of WCOT | 448 | 370 | 92 | |||||||||||||||||
Equity in earnings (losses) of SP I | 1,243 | 1,103 | (116 | ) | ||||||||||||||||
Equity in earnings of SPB II | — | 430 | 301 | |||||||||||||||||
Equity in earnings of Everest | — | — | 88 | |||||||||||||||||
Equity in earnings of Eastern Avenue | 461 | 157 | 137 | |||||||||||||||||
Equity in losses of Montrose | — | (20 | ) | (46 | ) | |||||||||||||||
Equity in earnings of other minority owned properties | 214 | 565 | 565 | |||||||||||||||||
| | | | | | | | | | | ||||||||||
$ | 11,653 | $ | 10,859 | $ | 7,287 | |||||||||||||||
| | | | | | | | | | | ||||||||||
| | | | | | | | | | | ||||||||||
Equity in earnings (losses) of ESW II, SP I and SPB II includes the amortization of the Company's excess purchase price of $25,713 of these equity investments over its original basis. The excess basis is amortized over 40 years. | ||||||||||||||||||||
Information (unaudited) related to the real estate ventures' debt at December 31, 2013, is presented below: | ||||||||||||||||||||
Loan Amount | Current | Debt | ||||||||||||||||||
Interest Rate | Maturity | |||||||||||||||||||
ESW—Fixed | $ | 16,700 | 5 | % | Sep-15 | |||||||||||||||
ESW II—Swapped to fixed | 19,327 | 3.57 | % | Feb-19 | ||||||||||||||||
ESNPS—Fixed | 34,500 | 5.27 | % | Jun-15 | ||||||||||||||||
ESSM—Variable | 11,125 | 2.19 | % | Nov-14 | ||||||||||||||||
Clarendon—Swapped to fixed | 8,024 | 5.93 | % | Sep-18 | ||||||||||||||||
PRISA | — | — | Unleveraged | |||||||||||||||||
PRISA II | — | — | Unleveraged | |||||||||||||||||
VRS—Swapped to fixed | 52,100 | 3.34 | % | Jul-19 | ||||||||||||||||
WCOT—Swapped to fixed | 87,500 | 3.34 | % | Aug-19 | ||||||||||||||||
SP I—Fixed | 93,994 | 4.66 | % | Apr-18 | ||||||||||||||||
Other minority owned properties | 25,504 | Various | Various | |||||||||||||||||
Combined, condensed unaudited financial information of ESW, ESW II, ESNPS, PRISA, PRISA II, PRISA III, VRS, WCOT, SP I and SPB II and HSRE as of December 31, 2013 and 2012, and for the years ended December 31, 2013, 2012 and 2011, follows: | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
Balance Sheets: | 2013(a) | 2012(a)(b) | ||||||||||||||||||
Assets: | ||||||||||||||||||||
Net real estate assets | $ | 1,474,754 | $ | 1,633,402 | ||||||||||||||||
Other | 33,788 | 33,103 | ||||||||||||||||||
| | | | | | | | |||||||||||||
$ | 1,508,542 | $ | 1,666,505 | |||||||||||||||||
| | | | | | | | |||||||||||||
| | | | | | | | |||||||||||||
Liabilities and members' equity: | ||||||||||||||||||||
Notes payable | $ | 304,121 | $ | 404,630 | ||||||||||||||||
Other liabilities | 22,040 | 27,383 | ||||||||||||||||||
Members' equity | 1,182,381 | 1,234,492 | ||||||||||||||||||
| | | | | | | | |||||||||||||
$ | 1,508,542 | $ | 1,666,505 | |||||||||||||||||
| | | | | | | | |||||||||||||
| | | | | | | | |||||||||||||
For the Year Ended December 31, | ||||||||||||||||||||
Statements of Income: | 2013(a) | 2012(a)(b) | 2011(b) | |||||||||||||||||
Rents and other income | $ | 260,487 | $ | 266,222 | $ | 304,499 | ||||||||||||||
Expenses | 149,595 | 164,285 | 217,114 | |||||||||||||||||
| | | | | | | | | | | ||||||||||
Net income | $ | 110,892 | $ | 101,937 | $ | 87,385 | ||||||||||||||
| | | | | | | | | | | ||||||||||
| | | | | | | | | | | ||||||||||
(a) | ||||||||||||||||||||
On November 1, 2013 the Company acquired its partner's 49% interest in HSRE as disclosed in Note 4. Property Acquisitions and Dispositions. As such, HSRE is now consolidated on the Company's balance sheet and has been excluded from the 2013 balance sheet table above. | ||||||||||||||||||||
(b) | ||||||||||||||||||||
The income statement information for the years ended December 31, 2012 and 2011 includes results from PRISA III and SPB II, which were acquired by the Company during 2012. Balance sheet information as of December 31, 2013 and 2012 does not include PRISA III or SPB II. | ||||||||||||||||||||
Variable Interests in Unconsolidated Real Estate Joint Ventures: | ||||||||||||||||||||
The Company has an interest in one unconsolidated joint venture with an unrelated third party which is a variable interest entity ("VIE"). The Company holds an 18% equity interest and a 50% profit interest in the VIE joint venture ("VIE JV"), and has 50% of the voting rights in the VIE JV. Qualification as a VIE was based on the determination that the equity investment at risk for the joint venture was not sufficient based on a qualitative and quantitative analysis performed by the Company. The Company performed a qualitative analysis for the joint venture to determine which party was the primary beneficiary of each VIE. The Company determined that since the powers to direct the activities most significant to the economic performance of the entity is shared equally by the Company and its joint venture partner, there is no primary beneficiary. Accordingly, the interest is recorded using the equity method. | ||||||||||||||||||||
The VIE JV owns a single self-storage property. This joint venture is financed through a combination of (1) equity contributions from the Company and its joint venture partner, (2) a primary mortgage note payable and (3) amounts payable to the Company. The amounts payable to the Company consist of amounts owed for expenses paid on behalf of the joint venture by the Company as manager and a secondary mortgage notes payable to the Company. The Company performs management services for the VIE JV in exchange for a management fee of approximately 6% of cash collected by the property. Except as disclosed, the Company has not provided financial or other support during the periods presented to the VIE JV that it was not previously contractually obligated to provide. | ||||||||||||||||||||
The Company guarantees the primary mortgage notes payable of the VIE JV. The Company's maximum exposure to loss for this joint venture as of December 31, 2013, is the total of the guaranteed loan balance, the amounts payable to the Company and the Company's investment balances in the joint venture. The Company believes that the risk of incurring a material loss as a result of having to perform on the loan guarantee is unlikely and, therefore, no liability has been recorded related to this guarantee. Also, repossessing and/or selling the self-storage facility and land that collateralize the loan could provide funds sufficient to reimburse the Company. | ||||||||||||||||||||
The following table compares the liability balance and the maximum exposure to loss related to the Company's VIE JV as of December 31, 2013: | ||||||||||||||||||||
Liability | Investment | Balance of | Amounts | Maximum | Difference | |||||||||||||||
Balance | Balance | Guaranteed | Payable to | Exposure | ||||||||||||||||
Loan | the Company | to Loss | ||||||||||||||||||
Extra Space of Sacramento One LLC | $ | — | $ | (1,096 | ) | $ | 4,307 | $ | 6,283 | $ | 9,494 | $ | (9,494 | ) | ||||||
The Company had no consolidated VIEs for the year ended December 31, 2013. | ||||||||||||||||||||
OTHER_ASSETS
OTHER ASSETS | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
OTHER ASSETS | ' | |||||||
OTHER ASSETS | ' | |||||||
6. OTHER ASSETS | ||||||||
The components of other assets are summarized as follows: | ||||||||
December 31, 2013 | December 31, 2012 | |||||||
Equipment and fixtures | $ | 21,774 | $ | 15,090 | ||||
Less: accumulated depreciation | (12,805 | ) | (10,223 | ) | ||||
Other intangible assets | 6,460 | 3,434 | ||||||
Deferred financing costs, net | 21,881 | 19,783 | ||||||
Prepaid expenses and deposits | 8,355 | 7,934 | ||||||
Receivables, net | 32,025 | 19,881 | ||||||
Investments in Trusts | 3,590 | 3,590 | ||||||
Income taxes receivable | 1,845 | 3,609 | ||||||
Fair value of interest rate swaps | 13,630 | — | ||||||
Deferred tax asset | — | 3,505 | ||||||
| | | | | | | | |
$ | 96,755 | $ | 66,603 | |||||
| | | | | | | | |
| | | | | | | | |
NOTES_PAYABLE
NOTES PAYABLE | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
NOTES PAYABLE | ' | |||||||
NOTES PAYABLE | ' | |||||||
7. NOTES PAYABLE | ||||||||
The components of notes payable are summarized as follows: | ||||||||
December 31, 2013 | December 31, 2012 | |||||||
Fixed Rate | ||||||||
Mortgage loans with banks (including loans subject to interest rate swaps) bearing interest at fixed rates between 2.8% and 6.7%. The loans are collateralized by mortgages on real estate assets and the assignment of rents. Principal and interest payments are made monthly with all outstanding principal and interest due between May 2014 and April 2021. | $ | 1,249,295 | $ | 1,156,015 | ||||
Variable Rate | ||||||||
Mortgage loans with banks bearing floating interest rates based on LIBOR and Prime. Interest rates based on LIBOR are between LIBOR plus 1.8% (1.97% at December 31, 2013 and 2.21% December 31, 2012) and LIBOR plus 2.1% (2.27% at December 31, 2013 and 3.21% December 31, 2012). Interest rates based on Prime are 3.25% at December 31, 2013. The loans are collateralized by mortgages on real estate assets and the assignment of rents. Principal and interest payments are made monthly with all outstanding principal and interest due between December 2014 and April 2020. | 339,301 | 213,675 | ||||||
| | | | | | | | |
$ | 1,588,596 | $ | 1,369,690 | |||||
| | | | | | | | |
| | | | | | | | |
The following table summarizes the scheduled maturities of notes payable at December 31, 2013: | ||||||||
2014 | $ | 29,004 | ||||||
2015 | 257,432 | |||||||
2016 | 156,315 | |||||||
2017 | 422,215 | |||||||
2018 | 137,794 | |||||||
Thereafter | 585,836 | |||||||
| | | | | ||||
$ | 1,588,596 | |||||||
| | | | | ||||
| | | | | ||||
Certain mortgage and construction loans with variable interest rates are subject to interest rate floors starting at 2.05%. Real estate assets are pledged as collateral for the notes payable. Of the Company's $1,588,596 in notes payable outstanding at December 31, 2013, $1,016,463 were recourse due to guarantees or other security provisions. The Company is subject to certain restrictive covenants relating to the outstanding notes payable. The Company was in compliance with all financial covenants at December 31, 2013. | ||||||||
DERIVATIVES
DERIVATIVES | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
DERIVATIVES | ' | ||||||||||||
DERIVATIVES | ' | ||||||||||||
8. DERIVATIVES | |||||||||||||
The Company is exposed to certain risk arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company's derivative financial instruments are used to manage differences in the amount, timing and duration of the Company's known or expected cash receipts and its known or expected cash payments principally related to the Company's investments and borrowings. | |||||||||||||
Cash Flow Hedges of Interest Rate Risk | |||||||||||||
The Company's objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. | |||||||||||||
The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive deficit and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. A portion of these changes is excluded from accumulated other comprehensive income as it is allocated to noncontrolling interests. During the years ended December 31, 2013, 2012 and 2011, such derivatives were used to hedge the variable cash flows associated with existing variable-rate debt. During 2014, the Company estimates that an additional $8,298 will be reclassified as an increase to interest expense. | |||||||||||||
The following table summarizes the terms of the Company's 22 derivative financial instruments as of December 31, 2013: | |||||||||||||
Hedge Product | Current Notional | Strike | Effective Dates | Maturity Dates | |||||||||
Amounts | |||||||||||||
Swap Agreements | $4,780 - $96,107 | 2.79% - 6.32% | 7/1/2009 - 7/25/2013 | 7/1/2014 - 4/1/2021 | |||||||||
Fair Values of Derivative Instruments | |||||||||||||
The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the consolidated balance sheets: | |||||||||||||
Asset (Liability) Derivatives | |||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||
Derivatives designated as | Balance Sheet | Fair | Balance Sheet | Fair | |||||||||
hedging instruments: | Location | Value | Location | Value | |||||||||
Swap Agreements | Other assets | $ | 13,630 | Other assets | $ | — | |||||||
Swap Agreements | Other liabilities | $ | (3,684 | ) | Other liabilities | $ | (15,228 | ) | |||||
Effect of Derivative Instruments | |||||||||||||
The tables below present the effect of the Company's derivative financial instruments on the consolidated statements of operations for the periods presented. No tax effect has been presented as the derivative instruments are held by the Company: | |||||||||||||
For the Year Ended | |||||||||||||
Classification of | December 31, | ||||||||||||
Type | Income (Expense) | 2013 | 2012 | 2011 | |||||||||
Swap Agreements | Interest expense | $ | (8,917 | ) | $ | (6,758 | ) | $ | (3,771 | ) | |||
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Gain (loss) | |||||||||||||
reclassified | |||||||||||||
Gain (loss) | from OCI | ||||||||||||
recognized in OCI | Location of amounts | For the Year Ended | |||||||||||
reclassified from OCI | December 31, 2013 | ||||||||||||
Type | December 31, 2013 | into income | |||||||||||
Swap Agreements | $ | 13,718 | Interest expense | $ | (8,917 | ) | |||||||
| | | | | | | | | | ||||
| | | | | | | | | | ||||
Credit-risk-related Contingent Features | |||||||||||||
The Company has agreements with some of its derivative counterparties that contain provisions pursuant to which, the Company could be declared in default of its derivative obligations if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender. | |||||||||||||
The Company also has an agreement with some of its derivative counterparties that incorporates the loan covenant provisions of the Company's indebtedness with a lender affiliate of the derivative counterparty. Failure to comply with the loan covenant provisions would result in the Company being in default on any derivative instrument obligations covered by the agreement. | |||||||||||||
As of December 31, 2013, the fair value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $3,684. As of December 31, 2013, the Company had not posted any collateral related to these agreements. If the Company had breached any of these provisions as of December 31, 2013, it could have been required to settle its obligations under the agreements at their termination value of $3,946. | |||||||||||||
NOTES_PAYABLE_TO_TRUSTS
NOTES PAYABLE TO TRUSTS | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
NOTES PAYABLE TO TRUSTS | ' | |||||||||||||
NOTES PAYABLE TO TRUSTS | ' | |||||||||||||
9. NOTES PAYABLE TO TRUSTS | ||||||||||||||
During July 2005, ESS Statutory Trust III (the "Trust III"), a newly formed Delaware statutory trust and a wholly-owned, unconsolidated subsidiary of the Operating Partnership, issued an aggregate of $40,000 of preferred securities which mature on July 31, 2035. In addition, the Trust III issued 1,238 of Trust common securities to the Operating Partnership for a purchase price of $1,238. On July 27, 2005, the proceeds from the sale of the preferred and common securities of $41,238 were loaned in the form of a note to the Operating Partnership ("Note 3"). Note 3 had a fixed rate of 6.91% through July 31, 2010, and then was payable at a variable rate equal to the three-month LIBOR plus 2.40% per annum. Effective July 11, 2011, the Trust III entered into an interest rate swap that fixes the interest rate to be paid at 4.99% per annum and matures July 11, 2018. The interest on Note 3, payable quarterly, will be used by the Trust III to pay dividends on the trust preferred securities. The trust preferred securities became redeemable by the Trust III with no prepayment premium on July 27, 2010. | ||||||||||||||
During May 2005, ESS Statutory Trust II (the "Trust II"), a newly formed Delaware statutory trust and a wholly-owned, unconsolidated subsidiary of the Operating Partnership of the Company, issued an aggregate of $41,000 of preferred securities which mature on June 30, 2035. In addition, the Trust II issued 1,269 of Trust common securities to the Operating Partnership for a purchase price of $1,269. On May 24, 2005, the proceeds from the sale of the preferred and common securities of $42,269 were loaned in the form of a note to the Operating Partnership ("Note 2"). Note 2 had a fixed rate of 6.67% through June 30, 2010, and then was payable at a variable rate equal to the three-month LIBOR plus 2.40% per annum. Effective July 11, 2011, the Trust II entered into an interest rate swap that fixes the interest rate to be paid at 4.99% per annum and matures July 11, 2018. The interest on Note 2, payable quarterly, will be used by the Trust II to pay dividends on the trust preferred securities. The trust preferred securities became redeemable by the Trust II with no prepayment premium on June 30, 2010. | ||||||||||||||
During April 2005, ESS Statutory Trust I (the "Trust"), a newly formed Delaware statutory trust and a wholly-owned, unconsolidated subsidiary of the Operating Partnership of the Company issued an aggregate of $35,000 of trust preferred securities which mature on June 30, 2035. In addition, the Trust issued 1,083 of Trust common securities to the Operating Partnership for a purchase price of $1,083. On April 8, 2005, the proceeds from the sale of the trust preferred and common securities of $36,083 were loaned in the form of a note to the Operating Partnership (the "Note"). The Note has a variable rate equal to the three-month LIBOR plus 2.25% per annum. Effective June 30, 2010, the Trust entered into an interest rate swap that fixes the interest rate to be paid at 5.62% per annum and matures on June 30, 2015. The interest on the Note, payable quarterly, will be used by the Trust to pay dividends on the trust preferred securities. The trust preferred securities became redeemable by the Trust with no prepayment premium on June 30, 2010. | ||||||||||||||
Trust, Trust II and Trust III (together, the "Trusts") are VIEs because the holders of the equity investment at risk (the trust preferred securities) do not have the power to direct the activities of the entities that most significantly affect the entities' economic performance because of their lack of voting or similar rights. Because the Operating Partnership's investment in the Trusts' common securities was financed directly by the Trusts as a result of its loan of the proceeds to the Operating Partnership, that investment is not considered to be an equity investment at risk. The Operating Partnership's investment in the Trusts is not a variable interest because equity interests are variable interests only to the extent that the investment is considered to be at risk, and therefore the Operating Partnership cannot be the primary beneficiary of the Trusts. Since the Company is not the primary beneficiary of the Trusts, they have not been consolidated. A debt obligation has been recorded in the form of notes as discussed above for the proceeds, which are owed to the Trusts by the Company. The Company has also recorded its investment in the Trusts' common securities as other assets. | ||||||||||||||
The Company has not provided financing or other support during the periods presented to the Trusts that it was not previously contractually obligated to provide. The Company's maximum exposure to loss as a result of its involvement with the Trusts is equal to the total amount of the notes discussed above less the amounts of the Company's investments in the Trusts' common securities. The net amount is the notes payable that the Trusts owe to third parties for their investments in the Trusts' preferred securities. | ||||||||||||||
Following is a tabular comparison of the liabilities the Company has recorded as a result of its involvements with the Trusts to the maximum exposure to loss the Company is subject to related to the Trusts as of December 31, 2013: | ||||||||||||||
Notes payable | Investment | Maximum | Difference | |||||||||||
to Trusts | Balance | exposure to loss | ||||||||||||
Trust | $ | 36,083 | $ | 1,083 | $ | 35,000 | $ | — | ||||||
Trust II | 42,269 | 1,269 | 41,000 | — | ||||||||||
Trust III | 41,238 | 1,238 | 40,000 | — | ||||||||||
| | | | | | | | | | | | | | |
$ | 119,590 | $ | 3,590 | $ | 116,000 | $ | — | |||||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
EXCHANGEABLE_SENIOR_NOTES
EXCHANGEABLE SENIOR NOTES | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
EXCHANGEABLE SENIOR NOTES | ' | ||||||||||
EXCHANGEABLE SENIOR NOTES | ' | ||||||||||
10. EXCHANGEABLE SENIOR NOTES | |||||||||||
On June 21, 2013, the Operating Partnership issued $250,000 of its 2.375% Exchangeable Senior Notes due 2033 due 2033 at a 1.5% discount, or $3,750. Costs incurred to issue the Notes due 2033 were approximately $1,672. These costs are being amortized as an adjustment to interest expense over five years, which represents the estimated term based on the first available redemption date, and are included in other assets in the consolidated balance sheet. The Notes due 2033 are general unsecured senior obligations of the Operating Partnership and are fully guaranteed by the Company. Interest is payable on January 1 and July 1 of each year beginning January 1, 2014, until the maturity date of July 1, 2033. The Notes due 2033 bear interest at 2.375% per annum and contain an exchange settlement feature, which provides that the Notes due 2033 may, under certain circumstances, be exchangeable for cash (for the principal amount of the Notes due 2033) and, with respect to any excess exchange value, for cash, shares of the Company's common stock or a combination of cash and shares of the Company's common stock at the Company's option. The initial exchange rate of the Notes due 2033 is approximately 17.96 shares of the Company's common stock per $1,000 principal amount of the Notes due 2033. | |||||||||||
The Operating Partnership may redeem the Notes due 2033 at any time to preserve the Company's status as a REIT. In addition, on or after July 5, 2018, the Operating Partnership may redeem the Notes due 2033 for cash, in whole or in part, at 100% of the principal amount plus accrued and unpaid interest, upon at least 30 days but not more than 60 days prior written notice to the holders of the Notes due 2033. The holders of the Notes due 2033 have the right to require the Operating Partnership to repurchase the Notes due 2033 for cash, in whole or in part, on July 1 of the years 2018, 2023, and 2028, and upon the occurrence of certain designated events, in each case for a repurchase price equal to 100% of the principal amount of the Notes due 2033 plus accrued and unpaid interest. Certain events are considered "Events of Default," as defined in the indenture governing the Notes due 2033, which may result in the accelerated maturity of the Notes due 2033. | |||||||||||
GAAP requires entities with convertible debt instruments that may be settled entirely or partially in cash upon conversion to separately account for the liability and equity components of the instrument in a manner that reflects the issuer's economic interest cost. The Company therefore accounts for the liability and equity components of the Notes due 2033 separately. The equity component is included in paid-in capital in stockholders' equity in the consolidated balance sheet, and the value of the equity component is treated as original issue discount for purposes of accounting for the debt component. The discount is being amortized as interest expense over the remaining period of the debt through its first redemption date, July 1, 2018. The effective interest rate on the liability component is 4.0%. | |||||||||||
Information about the carrying amount of the equity component, the principal amount of the liability component, its unamortized discount and its net carrying amount were as follows for the periods indicated: | |||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||
Carrying amount of equity component | $ | (14,496 | ) | $ | — | ||||||
| | | | | | | | ||||
| | | | | | | | ||||
Principal amount of liability component | $ | 250,000 | $ | — | |||||||
Unamortized discount—equity component | (13,131 | ) | — | ||||||||
Unamortized cash discount | (3,356 | ) | — | ||||||||
| | | | | | | | ||||
Net carrying amount of liability component | $ | 233,513 | $ | — | |||||||
| | | | | | | | ||||
| | | | | | | | ||||
On March 27, 2007, the Company's Operating Partnership issued $250,000 of 3.625% Exchangeable Senior Notes due 2027. The Notes due 2027 bore interest at 3.625% per annum and contained an exchange settlement feature, which provided that under certain circumstances, the Notes due 2027 could have been exchanged for cash (up to the principal amount) and, with respect to any excess exchange value, for cash, shares of the Company's common stock, or a combination of cash and shares of the Company's common stock at the option of the Operating Partnership. The Company accounted for the liability and equity components of the Notes due 2027 separately as required under GAAP. The effective interest rate on the liability component of the Notes due 2027 was 5.75%. | |||||||||||
On March 1, 2012, the Company announced that the holders of the Operating Partnership's then-outstanding $87,663 principal amount of the Notes due 2027 had the right to surrender their notes for repurchase by the Operating Partnership on April 1, 2012 for 100% of the principal amount, pursuant to the holders' rights under the indenture governing the Notes due 2027. | |||||||||||
As of April 3, 2012, the Company received notice that the holders of the entire $87,663 principal amount of the Notes due 2027 had surrendered their notes for exchange. On April 26, 2012, the Company settled the exchange by paying cash for the principal amount, as required by the indenture, and issuing 684,685 shares of common stock for the value in excess of the principal amount. The issuance of shares was reflected as an increase in paid-in-capital with a corresponding decrease in paid-in-capital attributable to the reacquisition of the equity component of the convertible debt. | |||||||||||
The amount of interest cost recognized relating to the contractual interest rate and the amortization of the discount on the liability component for the Notes due 2033 and the Notes due 2027 was as follows for the periods presented: | |||||||||||
For the Year Ended | |||||||||||
December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
Contractual interest | $ | 3,134 | $ | 790 | $ | 3,178 | |||||
Amortization of discount | 1,404 | 444 | 1,761 | ||||||||
| | | | | | | | | | | |
Total interest expense recognized | $ | 4,538 | $ | 1,234 | $ | 4,939 | |||||
| | | | | | | | | | | |
| | | | | | | | | | | |
LINES_OF_CREDIT
LINES OF CREDIT | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
LINES OF CREDIT | ' | ||||||||||||||||||||
LINES OF CREDIT | ' | ||||||||||||||||||||
11. LINES OF CREDIT | |||||||||||||||||||||
All of the Company's lines of credit are guaranteed by the Company and secured by mortgages on certain real estate assets. The following table presents information on the Company's lines of credit, the proceeds of which are used to repay debt and for general corporate purposes, for the periods indicated: | |||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||
Line of Credit | Amount | Capacity | Interest | Origination | Maturity | Basis Rate | Notes | ||||||||||||||
Drawn | Rate | Date | |||||||||||||||||||
Credit Line 1 | $ | — | $ | 75,000 | 2.07 | % | 2/13/09 | 5/13/14 | LIBOR plus 1.90 | % | -1 | ||||||||||
Credit Line 2 | — | 85,000 | 2.07 | % | 6/4/10 | 6/3/16 | LIBOR plus 1.90 | % | -2 | ||||||||||||
Credit Line 3 | — | 40,000 | 2.37 | % | 11/16/10 | 2/13/17 | LIBOR plus 2.20 | % | (3)(4) | ||||||||||||
Credit Line 4 | — | 80,000 | 1.87 | % | 4/29/11 | 11/18/16 | LIBOR plus 1.70 | % | -4 | ||||||||||||
| | | | | | | | | | | | | | | | | | | | | |
$ | — | $ | 280,000 | ||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
-1 | |||||||||||||||||||||
One year extension available | |||||||||||||||||||||
-2 | |||||||||||||||||||||
One two-year extension available | |||||||||||||||||||||
-3 | |||||||||||||||||||||
Amended February 13, 2014 to extend the maturity date to February 13, 2017, increase the capacity to $50,000 and lower the interest rate to Libor plus 1.75%. | |||||||||||||||||||||
-4 | |||||||||||||||||||||
Two one-year extensions available | |||||||||||||||||||||
OTHER_LIABILITIES
OTHER LIABILITIES | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
OTHER LIABILITIES | ' | |||||||
OTHER LIABILITIES | ' | |||||||
12. OTHER LIABILITIES | ||||||||
The components of other liabilities are summarized as follows: | ||||||||
December 31, 2013 | December 31, 2012 | |||||||
Deferred rental income | $ | 24,037 | $ | 20,752 | ||||
Lease obligation liability | 2,076 | 3,826 | ||||||
Fair value of interest rate swaps | 3,684 | 15,228 | ||||||
Income taxes payable | 671 | 1,414 | ||||||
Deferred tax liability | 3,481 | — | ||||||
Other miscellaneous liabilities | 4,048 | 7,028 | ||||||
| | | | | | | | |
$ | 37,997 | $ | 48,248 | |||||
| | | | | | | | |
| | | | | | | | |
Included in the lease obligation liability is approximately $2,352 and $3,826 for the years ended December 31, 2013 and 2012, respectively, related to minimum rentals to be received in the future under non-cancelable subleases. | ||||||||
Included in other miscellaneous liabilities is unpaid claims related to the Company's tenant reinsurance program. For the years ended December 31, 2013, 2012 and 2011, the number of claims made were 2,316, 2,060 and 1,834, respectively. The roll forward of the liability of unpaid claims is as follows: | ||||||||
For the Year Ended | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Unpaid claims liability at beginning of year | $ | 1,414 | $ | 715 | ||||
Provision for current year claims | 3,817 | 3,417 | ||||||
Increase (decrease) in provision for prior year claims | (116 | ) | 22 | |||||
Payments for current year claims | (2,627 | ) | (2,028 | ) | ||||
Payments for prior year claims | (1,252 | ) | (712 | ) | ||||
| | | | | | | | |
Unpaid claims liability at the end of the year | $ | 1,236 | $ | 1,414 | ||||
| | | | | | | | |
| | | | | | | | |
RELATED_PARTY_AND_AFFILIATED_R
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ||||||||||||
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ||||||||||||
13. RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | |||||||||||||
The Company provides management services to certain joint ventures, third parties and other related party properties. Management agreements provide generally for management fees of 6% of cash collected from total revenues for the management of operations at the self-storage facilities. In addition, the Company receives an asset management fee equal to 50 basis points multiplied by the total asset value of the properties owned by the SPI joint venture, provided certain requirements are met. | |||||||||||||
Management fee revenues for related party and affiliated real estate joint ventures are summarized as follows: | |||||||||||||
For the Year Ended | |||||||||||||
December 31, | |||||||||||||
Entity | Type | 2013 | 2012 | 2011 | |||||||||
ESW | Affiliated real estate joint ventures | $ | 450 | $ | 430 | $ | 410 | ||||||
ESW II | Affiliated real estate joint ventures | 382 | 354 | 335 | |||||||||
ESNPS | Affiliated real estate joint ventures | 528 | 498 | 479 | |||||||||
ESSM | Affiliated real estate joint ventures | 117 | 107 | 85 | |||||||||
HSRE | Affiliated real estate joint ventures | 1,146 | 1,094 | 1,045 | |||||||||
PRISA | Affiliated real estate joint ventures | 5,215 | 5,174 | 4,961 | |||||||||
PRISA II | Affiliated real estate joint ventures | 4,397 | 4,138 | 4,016 | |||||||||
PRISA III | Affiliated real estate joint ventures | — | 920 | 1,796 | |||||||||
VRS | Affiliated real estate joint ventures | 1,286 | 1,207 | 1,156 | |||||||||
WCOT | Affiliated real estate joint ventures | 1,601 | 1,520 | 1,497 | |||||||||
SP I | Affiliated real estate joint ventures | 1,953 | 1,885 | 6,392 | |||||||||
SPB II | Affiliated real estate joint ventures | — | 923 | 969 | |||||||||
Everest | Affiliated real estate joint ventures | 15 | 133 | 528 | |||||||||
Other | Franchisees, third parties and other | 9,524 | 7,323 | 6,255 | |||||||||
| | | | | | | | | | | | | |
$ | 26,614 | $ | 25,706 | $ | 29,924 | ||||||||
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
During 2011, it was discovered that the asset management fee owed to the Company by the SPI joint venture had not been recorded by either party for the five-year period ended December 31, 2010. The annual asset management fee for this period was $885, offset by an annual reduction of $221 of equity in earnings of SPI. Therefore, the Company's net income was understated by $664 for each year in the five-year period ended December 31, 2010. After determining that the amounts were not material either in the prior periods or the year ended December 31, 2011 for restatement purposes, the Company recorded the asset management fee adjustments for the years 2006 through 2010 in 2011. The total prior period adjustment increased asset management fee revenues by $4,425 and decreased equity in earnings by $1,106. Additionally, the Company recorded a receivable of $5,327 which represents the asset management fee owed for 2006 through 2011. This receivable was paid in full by December 31, 2012. | |||||||||||||
Receivables from related parties and affiliated real estate joint ventures balances are summarized as follows: | |||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||
Mortgage notes receivable | $ | 5,818 | $ | 7,670 | |||||||||
Other receivables from properties | 1,724 | 3,408 | |||||||||||
| | | | | | | | ||||||
$ | 7,542 | $ | 11,078 | ||||||||||
| | | | | | | | ||||||
| | | | | | | | ||||||
Other receivables from properties consist of amounts due for management fees, asset management fees and expenses paid on behalf of the properties that the Company manages. The Company believes that all of these related party and affiliated real estate joint venture receivables are fully collectible. The Company does not have any payables to related parties at December 31, 2013 and 2012. | |||||||||||||
Centershift, a related party service provider, is partially owned by one of the Company's board members. Effective January 1, 2004, the Company entered into a license agreement with Centershift which secures a perpetual right for continued use of STORE (the site management software used at all sites operated by the Company) in all aspects of the Company's property acquisition, development, redevelopment and operational activities. During the years ended December 31, 2013, 2012 and 2011, the Company paid Centershift $1,095, $1,235, and $1,087, respectively, relating to the purchase of software and license agreements. On October 1, 2013, the Company bought out the remainder of its three year contract with Centershift for $1,500, which is recorded in general and administrative expense. In addition, the Company purchased a copy of the STORE source code and some equipment from Centershift for $2,600. The Company no longer has any contractual liability to Centershift. | |||||||||||||
The Company has entered into an annual aircraft dry lease and service and management agreement with SpenAero, L.C. ("SpenAero"), an affiliate of Spencer F. Kirk, the Company's Chief Executive Officer. Under the terms of the agreement, the Company pays a defined hourly rate for use of the aircraft. During the years ended December 31, 2013, 2012 and 2011, the Company paid SpenAero $803, $649, and $608, respectively. The services that the Company receives from SpenAero are similar in nature and comparable in price to those that are provided to other outside third parties. | |||||||||||||
STOCKHOLDERS_EQUITY
STOCKHOLDERS' EQUITY | 12 Months Ended |
Dec. 31, 2013 | |
STOCKHOLDERS' EQUITY | ' |
STOCKHOLDERS' EQUITY | ' |
14. STOCKHOLDERS' EQUITY | |
The Company's charter provides that it can issue up to 300,000,000 shares of common stock, $0.01 par value per share and 50,000,000 shares of preferred stock, $0.01 par value per share. As of December 31, 2013, 115,755,527 shares of common stock were issued and outstanding, and no shares of preferred stock were issued or outstanding. | |
All holders of the Company's common stock are entitled to receive dividends and to one vote on all matters submitted to a vote of stockholders. The transfer agent and registrar for the Company's common stock is American Stock Transfer & Trust Company. | |
On November 8, 2013, the Company issued and sold 4,500,000 shares of its common stock in a public offering at a price to the underwriter of $45.81 per share. The Company received gross proceeds of $206,145. Transaction costs were $157, resulting in net proceeds of $205,988. | |
On November 9, 2012, the Company issued and sold 5,980,000 shares of its common stock in a public offering at a price to the underwriter of $33.98 per share. The Company received gross proceeds of $203,200. Transaction costs were $300, resulting in net proceeds of $202,900. | |
On April 16, 2012, the Company issued and sold 8,050,000 shares of its common stock in a public offering at a price to the underwriter of $28.22 per share. The Company received gross proceeds of $227,171. Transaction costs were $483, resulting in net proceeds of $226,688. | |
In May 2011, the Company closed a public stock offering of 5,335,423 shares of its common stock at an offering price of $21.16 per share. The Company received gross proceeds of $112,898. Transaction costs were $549, for net proceeds of $112,349. | |
NONCONTROLLING_INTEREST_REPRES
NONCONTROLLING INTEREST REPRESENTED BY PREFERRED OPERATING PARTNERSHIP UNITS | 12 Months Ended |
Dec. 31, 2013 | |
NONCONTROLLING INTEREST REPRESENTED BY PREFERRED OPERATING PARTNERSHIP UNITS | ' |
NONCONTROLLING INTEREST REPRESENTED BY PREFERRED OPERATING PARTNERSHIP UNITS | ' |
15. NONCONTROLLING INTEREST REPRESENTED BY PREFERRED OPERATING PARTNERSHIP UNITS | |
Classification of Noncontrolling Interests | |
GAAP requires a company to present ownership interests in subsidiaries held by parties other than the company in the consolidated financial statements within the equity section, but separate from the company's equity. It also requires the amount of consolidated net income attributable to the parent and to the noncontrolling interest to be clearly identified and presented on the face of the consolidated statement of operations and requires changes in ownership interest to be accounted for similarly as equity transactions. If noncontrolling interests are determined to be redeemable, they are to be carried at their redemption value as of the balance sheet date and reported as temporary equity. | |
The Company has evaluated the terms of the Operating Partnership's preferred units and classifies the noncontrolling interest represented by the such preferred units as stockholders' equity in the accompanying consolidated balance sheets. The Company will periodically evaluate individual noncontrolling interests for the ability to continue to recognize the noncontrolling amount as permanent equity in the consolidated balance sheets. Any noncontrolling interests that fail to qualify as permanent equity will be reclassified as temporary equity and adjusted to the greater of (1) the carrying amount, or (2) its redemption value as of the end of the period in which the determination is made. | |
Series A Participating Redeemable Preferred Units | |
On June 15, 2007, the Operating Partnership entered into a Contribution Agreement with various limited partnerships affiliated with AAAAA Rent-A-Space to acquire ten self-storage facilities (the "Properties") in exchange for 989,980 Series A Units. The self-storage facilities are located in California and Hawaii. | |
On June 25, 2007, the Operating Partnership loaned the holders of the Series A Units $100,000. The note receivable bears interest at 4.85%. During 2013 a loan amendment was signed extending the maturity date to September 1, 2020. The loan is secured by the borrower's Series A Units. The holders of the Series A Units can redeem up to 114,500 Series A Units prior to the maturity date of the loan. If any redemption in excess of 114,500 Series A Units occurs prior to the maturity date, the holder of the Series A Units is required to repay the loan as of the date of that redemption. The Series A Units are shown on the balance sheet net of the $100,000 loan because the borrower under the loan receivable is also the holder of the Series A Units. | |
The partnership agreement of the Operating Partnership (as amended, the "Partnership Agreement") provides for the designation and issuance of the Series A Units. The Series A Units will have priority over all other partnership interests of the Operating Partnership with respect to distributions and liquidation. | |
Under the Partnership Agreement, Series A Units in the amount of $115,000 bear a fixed priority return of 5% and have a fixed liquidation value of $115,000. The remaining balance participates in distributions with, and has a liquidation value equal to, that of the common OP Units. The Series A Units became redeemable at the option of the holder on September 1, 2008, which redemption obligation may be satisfied, at the Company's option, in cash or shares of its common stock. | |
Series B Redeemable Preferred Units | |
On August 29, 2013, the Operating Partnership completed the purchase of 19 out of 20 self-storage facilities affiliated with All Aboard Mini Storage, all of which are located in California. On September 26, 2013, the Operating Partnership completed the purchase of the remaining facility. These properties were acquired in exchange for $100,876 in cash (including $98,960 of debt assumed and immediately defeased at closing), 1,342,727 Series B Units valued at $33,568, and 1,448,108 common OP Units valued at $62,341. | |
The Partnership Agreement provides for the designation and issuance of the Series B Units. The Series B Units rank junior to the Series A Units, on parity with the Series C Units, and senior to all other partnership interests of the Operating Partnership with respect to distributions and liquidation. | |
The Series B Units have a liquidation value of $25.00 per unit for a fixed liquidation value of $33,568. Holders of the Series B Units receive distributions at an annual rate of 6%. These distributions are cumulative and accrue each quarter regardless of the declaration of dividends or distributions. The Series B Units will become redeemable at the option of the holder on August 29, 2014 and September 26, 2014, which redemption obligations may be satisfied at the Company's option in cash or shares of its common stock. | |
Series C Convertible Redeemable Preferred Units | |
On December 2, 2013, the Operating Partnership completed the purchase of six of eight self-storage facilities affiliated with Grupe Properties Co. Inc. ("Grupe"), all of which are located in California. On December 3, 2013, the Operating Partnership completed the purchase of the remaining two facilities. The Company previously held 35% interests in five of these eight properties through separate joint ventures with Grupe. These properties were acquired in exchange for $42,702 of cash, the assumption of $4,342 in existing debt, and the issuance of 407,996 Series C Units valued at $17,177. | |
The Partnership Agreement provides for the designation and issuance of the Series C Units. The Series C Units rank junior to the Series A Units, on parity with the Series B Units, and senior to all other partnership interests of the Operating Partnership with respect to distributions and liquidation. | |
The Series C Units have a liquidation value of $42.10 per unit. From issuance to the fifth anniversary of issuance, each Series C Unit holder will receive quarterly distributions equal to the quarterly distribution for common OP Unit plus $0.18. Beginning on the fifth anniversary of issuance, each Series C Unit holder will receive a fixed quarterly distribution equal to the aggregate quarterly distribution payable in respect of such Series C Unit during the four quarters immediately preceding the fifth anniversary of issuance divided by four. These distributions are cumulative. The Series C Units will become redeemable at the option of the holder one year from the date of issuance, which redemption obligation may be satisfied at the Company's option in cash or shares of its common stock. The Series C Units will also become convertible into common OP Units at the option of the holder one year from the date of issuance, at a rate of 0.9145 common OP Units per Series C Unit converted. This conversion option expires upon the fifth anniversary of the date of issuance. | |
NONCONTROLLING_INTEREST_IN_OPE
NONCONTROLLING INTEREST IN OPERATING PARTNERSHIP | 12 Months Ended |
Dec. 31, 2013 | |
NONCONTROLLING INTEREST IN OPERATING PARTNERSHIP | ' |
NONCONTROLLING INTEREST IN OPERATING PARTNERSHIP | ' |
16. NONCONTROLLING INTEREST IN OPERATING PARTNERSHIP | |
The Company's interest in its properties is held through the Operating Partnership. ESS Holding Business Trust I, a wholly-owned subsidiary of the Company, is the sole general partner of the Operating Partnership. ESS Business Trust II, also a wholly-owned subsidiary of the Company, is a limited partner of the Operating Partnership. Between its general partner and limited partner interests, the Company held a 94.2% majority ownership interest therein as of December 31, 2013. The remaining ownership interests in the Operating Partnership (including Preferred Operating Partnership units) of 5.8% are held by certain former owners of assets acquired by the Operating Partnership. As of December 31, 2013, the Operating Partnership had 4,334,118 common OP Units outstanding. | |
The noncontrolling interest in the Operating Partnership represents OP Units that are not owned by the Company. In conjunction with the formation of the Company and as a result of subsequent acquisitions, certain persons and entities contributing interests in properties to the Operating Partnership received limited partnership units in the form of OP units. Limited partners who received OP Units in the formation transactions or in exchange for contributions for interests in properties have the right to require the Operating Partnership to redeem part or all of their OP Units for cash based upon the fair market value of an equivalent number of shares of the Company's common stock (10 day average) at the time of the redemption. Alternatively, the Company may, at its sole discretion, elect to acquire those OP Units in exchange for shares of its common stock on a one-for-one basis, subject to anti-dilution adjustments provided in the Operating Partnership agreement. The ten day average closing stock price at December 31, 2013, was $42.05 and there were 4,334,118 OP units outstanding. Assuming that all of the unit holders exercised their right to redeem all of their OP Units on December 31, 2013 and the Company elected to pay the non-controlling members cash, the Company would have paid $182,250 in cash consideration to redeem the units. | |
In October 2013, 12,500 OP Units were redeemed in exchange for the Company's common stock. In March and April 2013, 1,000 OP Units were redeemed in exchange for $41 in cash. | |
On August 29, 2013 and September 26, 2013, the Company purchased 20 properties in California. As part of the consideration, 1,448,108 OP Units were issued for a value of $62,341. | |
In December 2012, 304,817 OP Units were redeemed in exchange for the Company's common stock. In April 2012, 5,475 OP Units were redeemed for $155 in cash. | |
GAAP requires a company to present ownership interests in subsidiaries held by parties other than the company in the consolidated financial statements within the equity section but separate from the company's equity. It also requires the amount of consolidated net income attributable to the parent and to the noncontrolling interest to be clearly identified and presented on the face of the consolidated statement of operations and requires changes in ownership interest to be accounted for similarly as equity transactions. If noncontrolling interests are determined to be redeemable, they are to be carried at their redemption value as of the balance sheet date and reported as temporary equity. | |
The Company has evaluated the terms of the common OP Units and classifies the noncontrolling interest represented by the common OP Units as stockholders' equity in the accompanying consolidated balance sheets. The Company will periodically evaluate individual noncontrolling interests for the ability to continue to recognize the noncontrolling amount as permanent equity in the consolidated balance sheets. Any noncontrolling interests that fail to qualify as permanent equity will be reclassified as temporary equity and adjusted to the greater of (1) the carrying amount, or (2) its redemption value as of the end of the period in which the determination is made. | |
OTHER_NONCONTROLLING_INTERESTS
OTHER NONCONTROLLING INTERESTS | 12 Months Ended |
Dec. 31, 2013 | |
OTHER NONCONTROLLING INTERESTS | ' |
OTHER NONCONTROLLING INTERESTS | ' |
17. OTHER NONCONTROLLING INTERESTS | |
Other noncontrolling interests represent the ownership interests of various third parties in two consolidated joint ventures as of December 31, 2013. One of these consolidated joint ventures owns one property which was under construction at December 31, 2013. The second consolidated joint venture owns 19 properties. The ownership interests of the third party owners range from 1.0% to 3.3%. Other noncontrolling interests are included in the stockholders' equity section of the Company's consolidated balance sheet. The income or losses attributable to these third party owners based on their ownership percentages are reflected in net income allocated to the Operating Partnership and other noncontrolling interests in the consolidated statement of operations. | |
In November 2013, the Company purchased its joint venture partner's 10% membership interest in an existing joint venture for $1,292. The joint venture owned a single property located in California, and as a result of the acquisition, the property became wholly-owned by the Company. Since the Company retained its controlling financial interest in the subsidiary, this transaction was accounted for as an equity transaction. The carrying amount of the noncontrolling interest was reduced to zero to reflect the purchase, and the difference between the price paid by the Company and the adjustment to the carrying value of the noncontrolling interest was recorded as an adjustment to equity attributable to the parent. | |
In May 2013, the Company purchased one of its joint venture partner's 27.6% capital interest and 35% profit interest in a previously unconsolidated joint venture for $950. The partner's interest was reported in other noncontrolling interests prior to the purchase. As a result of the acquisition, the property became wholly-owned by the Company. Since the Company retained its controlling financial interest in the subsidiary, this transaction was accounted for as an equity transaction. The carrying amount of the noncontrolling interest was reduced to zero to reflect the purchase and the difference between the price paid by the Company and the carrying value of the noncontrolling interest was recorded as an adjustment to equity attributable to the parent. | |
In February 2013, the Company purchased one of its joint venture partner's 1.7% capital interest and 17% profit interest in consolidated property for $200. As a result, the Company's capital interest percentage in this joint venture increased from 95% to 96.7%. Since the Company retained its controlling financial interest in the subsidiary, this transaction was accounted for as an equity transaction. The carrying amount of the noncontrolling interest was reduced to reflect the purchase and the difference between the price paid by the Company and the adjustment to the carrying value of the noncontrolling interest was recorded as an adjustment to equity attributable to the parent. | |
STOCKBASED_COMPENSATION
STOCK-BASED COMPENSATION | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
STOCK-BASED COMPENSATION | ' | ||||||||||||||||
STOCK-BASED COMPENSATION | ' | ||||||||||||||||
18. STOCK-BASED COMPENSATION | |||||||||||||||||
The Company has the following plans under which shares were available for grant at December 31, 2013: | |||||||||||||||||
• | |||||||||||||||||
The 2004 Long-Term Incentive Compensation Plan as amended and restated, effective March 25, 2008, and | |||||||||||||||||
• | |||||||||||||||||
The 2004 Non-Employee Directors' Share Plan (together, the "Plans"). | |||||||||||||||||
Option grants are issued with an exercise price equal to the closing price of stock on the date of grant. Unless otherwise determined by the Compensation, Nominating and Governance Committee ("CNG Committee") at the time of grant, options shall vest ratably over a four-year period beginning on the date of grant. Each option will be exercisable once it has vested. Options are exercisable at such times and subject to such terms as determined by the CNG Committee, but under no circumstances may be exercised if such exercise would cause a violation of the ownership limit in the Company's charter. Options expire 10 years from the date of grant. | |||||||||||||||||
Also as defined under the terms of the Plans, restricted stock grants may be awarded. The stock grants are subject to a vesting period over which the restrictions are released and the stock certificates are given to the grantee. During the performance or vesting period, the grantee is not permitted to sell, transfer, pledge, encumber or assign shares of restricted stock granted under the Plans; however, the grantee has the ability to vote the shares and receive nonforfeitable dividends paid on shares. Unless otherwise determined by the CNG Committee at the time of grant, the forfeiture and transfer restrictions on the shares lapse over a four-year period beginning on the date of grant. | |||||||||||||||||
As of December 31, 2013, 2,390,415 shares were available for issuance under the Plans. | |||||||||||||||||
Option Grants | |||||||||||||||||
A summary of stock option activity is as follows: | |||||||||||||||||
Options | Number of Shares | Weighted Average | Weighted Average | Aggregate | |||||||||||||
Exercise Price | Remaining | Intrinsic Value as | |||||||||||||||
Contractual Life | of December 31, | ||||||||||||||||
(Years) | 2013 | ||||||||||||||||
Outstanding at December 31, 2010 | 3,105,905 | $ | 13.13 | ||||||||||||||
Granted | 110,900 | 19.6 | |||||||||||||||
Exercised | (1,388,269 | ) | 13.44 | ||||||||||||||
Forfeited | (29,675 | ) | 15.65 | ||||||||||||||
| | | | | | | | | | | | | | ||||
Outstanding at December 31, 2011 | 1,798,861 | $ | 13.25 | ||||||||||||||
Granted | 67,084 | 27.18 | |||||||||||||||
Exercised | (768,853 | ) | 13.55 | ||||||||||||||
Forfeited | — | — | |||||||||||||||
| | | | | | | | | | | | | | ||||
Outstanding at December 31, 2012 | 1,097,092 | $ | 13.89 | ||||||||||||||
Granted | 49,075 | 38.4 | |||||||||||||||
Exercised | (391,543 | ) | 14.81 | ||||||||||||||
Forfeited | — | — | |||||||||||||||
| | | | | | | | | | | | | | ||||
Outstanding at December 31, 2013 | 754,624 | $ | 15 | 5.1 | $ | 20,471 | |||||||||||
| | | | | | | | | | | | | | ||||
| | | | | | | | | | | | | | ||||
Vested and Expected to Vest | 734,400 | $ | 14.52 | 5.01 | $ | 20,276 | |||||||||||
Ending Exercisable | 556,191 | $ | 11.84 | 4.21 | $ | 16,847 | |||||||||||
The aggregate intrinsic value in the table above represents the total value (the difference between the Company's closing stock price on the last trading day of 2013 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on December 31, 2013. The amount of aggregate intrinsic value will change based on the fair market value of the Company's stock. | |||||||||||||||||
The weighted average fair value of stock options granted in 2013, 2012 and 2011, was $9.74, $6.64 and $5.39, respectively. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions: | |||||||||||||||||
For the Year Ended | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Expected volatility | 42 | % | 44 | % | 45 | % | |||||||||||
Dividend yield | 4 | % | 5 | % | 5 | % | |||||||||||
Risk-free interest rate | 1 | % | 1 | % | 2 | % | |||||||||||
Average expected term (years) | 5 | 5 | 5 | ||||||||||||||
The Black-Scholes model incorporates assumptions to value stock-based awards. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of the grant for the estimated life of the option. The Company uses actual historical data to calculate the expected price volatility, dividend yield and average expected term. The forfeiture rate, which is estimated at a weighted-average of 5.0% of unvested options outstanding as of December 31, 2013, is adjusted periodically based on the extent to which actual forfeitures differ, or are expected to differ, from the previous estimates. | |||||||||||||||||
A summary of stock options outstanding and exercisable as of December 31, 2013, is as follows: | |||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||
Exercise Price | Shares | Weighted Average | Weighted Average | Shares | Weighted Average | ||||||||||||
Remaining | Exercise Price | Exercise Price | |||||||||||||||
Contractual Life | |||||||||||||||||
$6.22 - $11.50 | 191,465 | 5.13 | $ | 6.22 | 191,465 | $ | 6.22 | ||||||||||
$11.51 - $12.50 | 192,960 | 4.83 | 12.06 | 134,315 | 12.17 | ||||||||||||
$12.51 - $15.50 | 143,700 | 2.56 | 14.76 | 143,700 | 14.76 | ||||||||||||
$15.51 - $19.60 | 116,350 | 5.32 | 18.37 | 75,950 | 17.71 | ||||||||||||
$19.61 - $38.40 | 110,149 | 8.61 | 32.2 | 10,761 | 27.35 | ||||||||||||
| | | | | | | | | | | | | | | | | |
$6.22 - $38.40 | 754,624 | 5.1 | $ | 15 | 556,191 | $ | 11.84 | ||||||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
The Company recorded compensation expense relating to outstanding options of $536, $585 and $942 in general and administrative expense for the years ended December 31, 2013, 2012 and 2011, respectively. Total cash received for the years ended December 31, 2013, 2012 and 2011, related to option exercises was $5,896, $10,267 and $18,622, respectively. At December 31, 2013, there was $704 of total unrecognized compensation expense related to non-vested stock options under the Company's 2004 Long-Term Incentive Compensation Plan. That cost is expected to be recognized over a weighted-average period of 1.60 years. The valuation model applied in this calculation utilizes subjective assumptions that could potentially change over time, including the expected forfeiture rate. Therefore, the amount of unrecognized compensation expense at December 31, 2013, noted above does not necessarily represent the expense that will ultimately be realized by the Company in the statement of operations. | |||||||||||||||||
Common Stock Granted to Employees and Directors | |||||||||||||||||
The Company recorded $4,283, $3,771 and $4,815 of expense in general and administrative expense in its statement of operations related to outstanding shares of common stock granted to employees and directors for the years ended December 31, 2013, 2012 and 2011, respectively. The forfeiture rate, which is estimated at a weighted-average of 9.7% of unvested awards outstanding as of December 31, 2013, is adjusted periodically based on the extent to which actual forfeitures differ, or are expected to differ, from the previous estimates. At December 31, 2013 there was $6,659 of total unrecognized compensation expense related to non-vested restricted stock awards under the Company's 2004 Long-Term Incentive Compensation Plan. That cost is expected to be recognized over a weighted-average period of 1.95 years. | |||||||||||||||||
The fair value of common stock awards is determined based on the closing trading price of the Company's common stock on the grant date. | |||||||||||||||||
A summary of the Company's employee and director share grant activity is as follows: | |||||||||||||||||
Restricted Stock Grants | Shares | Weighted-Average | |||||||||||||||
Grant-Date Fair Value | |||||||||||||||||
Unreleased at December 31, 2010 | 891,124 | $ | 10.62 | ||||||||||||||
Granted | 226,630 | 20.09 | |||||||||||||||
Released | (407,293 | ) | 11.91 | ||||||||||||||
Cancelled | (47,695 | ) | 14.31 | ||||||||||||||
| | | | | | | | ||||||||||
Unreleased at December 31, 2011 | 662,766 | $ | 12.81 | ||||||||||||||
Granted | 182,052 | 28.39 | |||||||||||||||
Released | (287,754 | ) | 12.98 | ||||||||||||||
Cancelled | (16,792 | ) | 14.03 | ||||||||||||||
| | | | | | | | ||||||||||
Unreleased at December 31, 2012 | 540,272 | $ | 17.93 | ||||||||||||||
Granted | 137,602 | 39.51 | |||||||||||||||
Released | (259,191 | ) | 15.11 | ||||||||||||||
Cancelled | (23,323 | ) | 23.62 | ||||||||||||||
| | | | | | | | ||||||||||
Unreleased at December 31, 2013 | 395,360 | $ | 26.96 | ||||||||||||||
| | | | | | | | ||||||||||
| | | | | | | | ||||||||||
EMPLOYEE_BENEFIT_PLAN
EMPLOYEE BENEFIT PLAN | 12 Months Ended |
Dec. 31, 2013 | |
EMPLOYEE BENEFIT PLAN | ' |
EMPLOYEE BENEFIT PLAN | ' |
19. EMPLOYEE BENEFIT PLAN | |
The Company has a retirement savings plan under Section 401(k) of the Internal Revenue Code under which eligible employees can contribute up to 15% of their annual salary, subject to a statutory prescribed annual limit. For the years ended December 31, 2013, 2012 and 2011, the Company made matching contributions to the plan of $1,013, $894, and $832, respectively, based on 100% of the first 3% and up to 50% of the next 2% of an employee's compensation. | |
INCOME_TAXES
INCOME TAXES | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
INCOME TAXES | ' | |||||||||||||
INCOME TAXES | ' | |||||||||||||
20. INCOME TAXES | ||||||||||||||
As a REIT, the Company is generally not subject to federal income tax with respect to that portion of its income which is distributed annually to its stockholders. However, the Company has elected to treat one of its corporate subsidiaries, Extra Space Management, Inc., as a taxable REIT subsidiary. In general, the Company's TRS may perform additional services for tenants and generally may engage in any real estate or non-real estate related business. A TRS is subject to corporate federal income tax. The Company accounts for income taxes in accordance with the provisions of ASC 740, "Income Taxes." Deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities. The Company has elected to use the Tax-Law-Ordering approach to determine when excess tax benefits will be realized. | ||||||||||||||
The income tax provision for the years ended December 31, 2013, 2012 and 2011, is comprised of the following components: | ||||||||||||||
For the Year Ended | ||||||||||||||
December 31, 2013 | ||||||||||||||
Federal | State | Total | ||||||||||||
Current expense | $ | 9,572 | $ | 615 | $ | 10,187 | ||||||||
Tax credits | (4,556 | ) | — | (4,556 | ) | |||||||||
Change in deferred benefit | 4,353 | — | 4,353 | |||||||||||
| | | | | | | | | | | ||||
Total tax expense | $ | 9,369 | $ | 615 | $ | 9,984 | ||||||||
| | | | | | | | | | | ||||
| | | | | | | | | | | ||||
For the Year Ended | ||||||||||||||
December 31, 2012 | ||||||||||||||
Federal | State | Total | ||||||||||||
Current expense | $ | 8,240 | $ | 612 | $ | 8,852 | ||||||||
Tax credits | (5,528 | ) | — | (5,528 | ) | |||||||||
Change in deferred benefit | 2,089 | — | 2,089 | |||||||||||
| | | | | | | | | | | ||||
Total tax expense | $ | 4,801 | $ | 612 | $ | 5,413 | ||||||||
| | | | | | | | | | | ||||
| | | | | | | | | | | ||||
For the Year Ended | ||||||||||||||
December 31, 2011 | ||||||||||||||
Federal | State | Total | ||||||||||||
Current expense | $ | 1,350 | $ | 606 | $ | 1,956 | ||||||||
Tax credits | (6,849 | ) | — | (6,849 | ) | |||||||||
Change in deferred benefit | 6,048 | — | 6,048 | |||||||||||
| | | | | | | | | | | ||||
Total tax expense | $ | 549 | $ | 606 | $ | 1,155 | ||||||||
| | | | | | | | | | | ||||
| | | | | | | | | | | ||||
A reconciliation of the statutory income tax provisions to the effective income tax provisions for the years ended December 31, 2013 and 2012 is as follows: | ||||||||||||||
For the Year Ended | ||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||
Expected tax at statutory rate | $ | 67,012 | 35 | % | $ | 46,586 | 35 | % | ||||||
Non-taxable REIT income | (53,519 | ) | (27.9 | )% | (37,729 | ) | (28.3 | )% | ||||||
State and local tax expense (benefit)—net of federal benefit | 615 | 0.3 | % | 612 | 0.5 | % | ||||||||
Change in valuation allowance | 435 | 0.2 | % | 1,641 | 1.2 | % | ||||||||
Tax Credits (WOTC & Solar) | (4,562 | ) | (2.4 | )% | (5,528 | ) | (4.2 | )% | ||||||
Miscellaneous | 3 | 0 | % | (169 | ) | (0.1 | )% | |||||||
| | | | | | | | | | | | | | |
Total provision | $ | 9,984 | 5.2 | % | $ | 5,413 | 4.1 | % | ||||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
The major sources of temporary differences stated at their deferred tax effects are as follows: | ||||||||||||||
December 31, | December 31, | |||||||||||||
2013 | 2012 | |||||||||||||
Deferred Tax Liabilities: | ||||||||||||||
Fixed Assets | $ | (14,557 | ) | $ | (9,951 | ) | ||||||||
Other | (663 | ) | (340 | ) | ||||||||||
| | | | | | | | |||||||
Total Deferred Tax Liabilities | $ | (15,220 | ) | $ | (10,291 | ) | ||||||||
| | | | | | | | |||||||
Deferred Tax Assets: | ||||||||||||||
Capitive Insurance Subsidiary | $ | 400 | $ | 385 | ||||||||||
Accrued liabilities | 1,043 | 1,193 | ||||||||||||
Stock compensation | 1,394 | 1,333 | ||||||||||||
Solar Credit | 8,480 | 10,313 | ||||||||||||
Other | 422 | 572 | ||||||||||||
State Deferreds | 4,570 | 4,135 | ||||||||||||
| | | | | | | | |||||||
Total Deferred Tax Assets | $ | 16,309 | $ | 17,931 | ||||||||||
| | | | | | | | |||||||
Valuation Allowance | $ | (4,570 | ) | $ | (4,135 | ) | ||||||||
| | | | | | | | |||||||
Net deferred income tax assets/(liabilities) | $ | (3,481 | ) | $ | 3,505 | |||||||||
| | | | | | | | |||||||
| | | | | | | | |||||||
The state income tax net operating losses expire between 2014 and 2032. The deferred tax benefits associated with the state income tax net operating losses have been fully reserved through the valuation allowance. The solar tax credit carryforwards expire in 2016. The tax years 2009 through 2012 remain open related to the state returns, and 2010 through 2012 for the federal returns. | ||||||||||||||
SEGMENT_INFORMATION
SEGMENT INFORMATION | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
SEGMENT INFORMATION | ' | ||||||||||
SEGMENT INFORMATION | ' | ||||||||||
21. SEGMENT INFORMATION | |||||||||||
The Company operates in three distinct segments; (1) rental operations; (2) tenant reinsurance; and (3) property management, acquisition and development. Management fees collected for wholly-owned properties are eliminated in consolidation. Financial information for the Company's business segments is set forth below: | |||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||
Balance Sheet | |||||||||||
Investment in unconsolidated real estate ventures | |||||||||||
Rental operations | $ | 88,125 | $ | 106,313 | |||||||
Total assets | |||||||||||
Property management, acquisition and development | $ | 301,001 | $ | 199,379 | |||||||
Rental operations | 3,641,746 | 2,996,453 | |||||||||
Tenant reinsurance | 34,393 | 27,645 | |||||||||
| | | | | | | | ||||
$ | 3,977,140 | $ | 3,223,477 | ||||||||
| | | | | | | | ||||
| | | | | | | | ||||
For the Year Ended December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
Statement of Operations | |||||||||||
Total revenues | |||||||||||
Rental operations | $ | 446,682 | $ | 346,874 | $ | 268,725 | |||||
Tenant reinsurance | 47,317 | 36,816 | 31,181 | ||||||||
Property management, acquisition and development | 26,614 | 25,706 | 29,924 | ||||||||
| | | | | | | | | | | |
$ | 520,613 | $ | 409,396 | $ | 329,830 | ||||||
| | | | | | | | | | | |
Operating expenses, including depreciation and amortization | |||||||||||
Rental operations | $ | 229,229 | $ | 184,540 | $ | 150,199 | |||||
Tenant reinsurance | 9,022 | 7,869 | 6,143 | ||||||||
Property management, acquisition and development | 68,879 | 59,746 | 58,012 | ||||||||
| | | | | | | | | | | |
$ | 307,130 | $ | 252,155 | $ | 214,354 | ||||||
| | | | | | | | | | | |
Income (loss) from operations | |||||||||||
Rental operations | $ | 217,453 | $ | 162,334 | $ | 118,526 | |||||
Tenant reinsurance | 38,295 | 28,947 | 25,038 | ||||||||
Property management, acquisition and development | (42,265 | ) | (34,040 | ) | (28,088 | ) | |||||
| | | | | | | | | | | |
$ | 213,483 | $ | 157,241 | $ | 115,476 | ||||||
| | | | | | | | | | | |
Gain on sale of real estate assets | |||||||||||
Rental operations | $ | 960 | $ | — | $ | — | |||||
| | | | | | | | | | | |
Loss on extinguishment of debt related to portfolio acquisition | |||||||||||
Property management, acquisition and development | $ | (9,153 | ) | $ | — | $ | — | ||||
| | | | | | | | | | | |
Interest expense | |||||||||||
Rental operations | $ | (69,702 | ) | $ | (70,472 | ) | $ | (66,598 | ) | ||
Property management, acquisition and development | (1,928 | ) | (1,378 | ) | (703 | ) | |||||
| | | | | | | | | | | |
$ | (71,630 | ) | $ | (71,850 | ) | $ | (67,301 | ) | |||
| | | | | | | | | | | |
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes | |||||||||||
Property management, acquisition and development | $ | (1,404 | ) | $ | (444 | ) | $ | (1,761 | ) | ||
| | | | | | | | | | | |
Interest income | |||||||||||
Tenant reinsurance | $ | 17 | $ | 12 | $ | 11 | |||||
Property management, acquisition and development | 732 | 1,804 | 1,016 | ||||||||
| | | | | | | | | | | |
$ | 749 | $ | 1,816 | $ | 1,027 | ||||||
| | | | | | | | | | | |
Interest income on note receivable from Preferred Operating Partnership unit holder | |||||||||||
Property management, acquisition and development | $ | 4,850 | $ | 4,850 | $ | 4,850 | |||||
| | | | | | | | | | | |
Equity in earnings of unconsolidated real estate ventures | |||||||||||
Rental operations | $ | 11,653 | $ | 10,859 | $ | 7,287 | |||||
| | | | | | | | | | | |
Equity in earnings of unconsolidated real estate ventures-gain on sale of real estate assets and purchase of joint venture partners interests | |||||||||||
Rental operations | $ | 46,032 | $ | 30,630 | $ | — | |||||
| | | | | | | | | | | |
Income tax expense | |||||||||||
Rental operations | $ | (149 | ) | $ | (660 | ) | $ | (696 | ) | ||
Tenant reinsurance | (13,409 | ) | (10,399 | ) | (8,767 | ) | |||||
Property management, acquisition and development | 3,574 | 5,646 | 8,308 | ||||||||
| | | | | | | | | | | |
$ | (9,984 | ) | $ | (5,413 | ) | $ | (1,155 | ) | |||
| | | | | | | | | | | |
Net income (loss) | |||||||||||
Rental operations | $ | 206,247 | $ | 132,691 | $ | 58,519 | |||||
Tenant reinsurance | 24,903 | 18,560 | 16,282 | ||||||||
Property management, acquisition and development | (45,594 | ) | (23,562 | ) | (16,378 | ) | |||||
| | | | | | | | | | | |
$ | 185,556 | $ | 127,689 | $ | 58,423 | ||||||
| | | | | | | | | | | |
Depreciation and amortization expense | |||||||||||
Property management, acquisition and development | $ | 6,015 | $ | 3,941 | $ | 3,296 | |||||
Rental operations | 89,217 | 70,512 | 54,718 | ||||||||
| | | | | | | | | | | |
$ | 95,232 | $ | 74,453 | $ | 58,014 | ||||||
| | | | | | | | | | | |
Statement of Cash Flows | |||||||||||
Acquisition, development and redevelopment of real estate assets | |||||||||||
Property management, acquisition and development | $ | (356,425 | ) | $ | (605,486 | ) | $ | (202,019 | ) |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
COMMITMENTS AND CONTINGENCIES | ' | |||||||||||
COMMITMENTS AND CONTINGENCIES | ' | |||||||||||
22. COMMITMENTS AND CONTINGENCIES | ||||||||||||
The Company has operating leases on its corporate offices and owns 18 self-storage facilities that are subject to leases. At December 31, 2013, future minimum rental payments under these non-cancelable operating leases were as follows (unaudited): | ||||||||||||
Less than 1 year | $ | 7,806 | ||||||||||
Year 2 | 5,690 | |||||||||||
Year 3 | 4,565 | |||||||||||
Year 4 | 3,274 | |||||||||||
Year 5 | 2,660 | |||||||||||
Thereafter | 45,862 | |||||||||||
| | | | | ||||||||
$ | 69,857 | |||||||||||
| | | | | ||||||||
| | | | | ||||||||
The monthly rental amounts for two of the ground leases include contingent rental payments based on the level of revenue achieved at the properties. The Company recorded expense of $2,983, $2,830 and $2,799 related to these ground leases in the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||
The Company has fully guaranteed loans for the following unconsolidated joint venture (unaudited): | ||||||||||||
Date of | Loan | Guaranteed | Estimated | |||||||||
Guaranty | Maturity | Loan Amount | Fair Market | |||||||||
Date | Value of | |||||||||||
Assets | ||||||||||||
Extra Space of Sacramento One LLC | 9-Apr | 14-Apr | $ | 4,307 | $ | 9,290 | ||||||
If the joint venture defaults on the loan, the Company may be forced to repay the loan. Repossessing and/or selling the self-storage facility and land that collateralize the loan could provide funds sufficient to reimburse the Company. The Company has recorded no liability in relation to this guarantee as of December 31, 2013, as the fair value of the guarantee is not material. The Company believes the risk of incurring a material loss as a result of having to perform on this guarantee is remote. | ||||||||||||
As of December 31, 2013, the Company was not involved in any material litigation nor, to its knowledge, is any material litigation threatened against it which, in the opinion of management, is expected to have a material adverse effect on the Company's financial condition or results of operations. | ||||||||||||
SUPPLEMENTARY_QUARTERLY_FINANC
SUPPLEMENTARY QUARTERLY FINANCIAL DATA (UNAUDITED) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
SUPPLEMENTARY QUARTERLY FINANCIAL DATA (UNAUDITED) | ' | |||||||||||||
SUPPLEMENTARY QUARTERLY FINANCIAL DATA (UNAUDITED) | ' | |||||||||||||
23. SUPPLEMENTARY QUARTERLY FINANCIAL DATA (UNAUDITED) | ||||||||||||||
For the Three Months Ended | ||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||
2013 | 2013 | 2013 | 2013 | |||||||||||
Revenues | $ | 119,322 | $ | 126,246 | $ | 133,111 | $ | 141,934 | ||||||
Cost of operations | 72,593 | 72,871 | 77,047 | 84,619 | ||||||||||
| | | | | | | | | | | | | | |
Revenues less cost of operations | $ | 46,729 | $ | 53,375 | $ | 56,064 | $ | 57,315 | ||||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Net income | $ | 33,931 | $ | 37,101 | $ | 32,352 | $ | 82,172 | ||||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Net income attributable to common stockholders | $ | 31,425 | $ | 34,466 | $ | 29,245 | $ | 76,940 | ||||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Earnings per common share—basic | $ | 0.28 | $ | 0.31 | $ | 0.26 | $ | 0.68 | ||||||
Earnings per common share—diluted | $ | 0.28 | $ | 0.31 | $ | 0.26 | $ | 0.67 | ||||||
For the Three Months Ended | ||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||
2012 | 2012 | 2012 | 2012 | |||||||||||
Revenues | $ | 90,987 | $ | 94,951 | $ | 109,791 | $ | 113,667 | ||||||
Cost of operations | 58,217 | 57,076 | 66,307 | 70,555 | ||||||||||
| | | | | | | | | | | | | | |
Revenues less cost of operations | $ | 32,770 | $ | 37,875 | $ | 43,484 | $ | 43,112 | ||||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Net income | $ | 22,518 | $ | 24,745 | $ | 41,553 | $ | 38,873 | ||||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Net income attributable to common stockholders | $ | 20,214 | $ | 22,413 | $ | 38,606 | $ | 36,076 | ||||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Earnings per common share—basic | $ | 0.21 | $ | 0.22 | $ | 0.37 | $ | 0.33 | ||||||
Earnings per common share—diluted | $ | 0.21 | $ | 0.22 | $ | 0.37 | $ | 0.33 |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2013 | |
SUBSEQUENT EVENTS | ' |
SUBSEQUENT EVENTS | ' |
24. SUBSEQUENT EVENTS | |
On February 5, 2014 the Company purchased a single property located in Texas for $14,150. | |
On January 7, 2014 the Company acquired a portfolio of 17 properties located in Virginia for $199,665. | |
Schedule_III_Real_Estate_and_A
Schedule III Real Estate and Accumulated Depreciation | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Schedule III Real Estate and Accumulated Depreciation | ' | ||||||||||||||||||||||||||||||||
Schedule III Real Estate and Accumulated Depreciation | ' | ||||||||||||||||||||||||||||||||
Extra Space Storage Inc. | |||||||||||||||||||||||||||||||||
Schedule III | |||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation | |||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Gross carrying amount at | |||||||||||||||||||||||||||||||||
Adjustments | December 31, 2013 | Date | |||||||||||||||||||||||||||||||
and costs | acquired or | ||||||||||||||||||||||||||||||||
subsequent | development | ||||||||||||||||||||||||||||||||
Property | Property Name | State | Debt | Land | Building and | to acquisition | Notes | Land | Building and | Total | Accumulated | completed | |||||||||||||||||||||
initial | improvements | improvements | depreciation | ||||||||||||||||||||||||||||||
cost | initial cost | ||||||||||||||||||||||||||||||||
8115 | Auburn | AL | $ | 2,499 | $ | 324 | $ | 1,895 | $ | 112 | $ | 324 | $ | 2,007 | $ | 2,331 | $ | 197 | 10-Aug | ||||||||||||||
8116 | Auburn | AL | — | 92 | 138 | 158 | 92 | 296 | 388 | 53 | 10-Aug | ||||||||||||||||||||||
751 | Birmingham | AL | 4,665 | 790 | 9,369 | 34 | 790 | 9,403 | 10,193 | 352 | 12-Jul | ||||||||||||||||||||||
654 | Hoover | AL | 2,712 | 1,313 | 2,858 | 621 | 1,313 | 3,479 | 4,792 | 936 | 7-Aug | ||||||||||||||||||||||
1542 | Chandler | AZ | — | 547 | 4,213 | 3 | 547 | 4,216 | 4,763 | 50 | 13-Jul | ||||||||||||||||||||||
239 | Mesa | AZ | 3,291 | 1,129 | 4,402 | 40 | 1,129 | 4,442 | 5,571 | 168 | 12-Jul | ||||||||||||||||||||||
1499 | Mesa | AZ | — | 2,973 | 5,545 | 76 | 2,973 | 5,621 | 8,594 | 155 | 12-Dec | ||||||||||||||||||||||
1543 | Mesa | AZ | — | 1,453 | 2,897 | 16 | 1,453 | 2,913 | 4,366 | 35 | 13-Jul | ||||||||||||||||||||||
8066 | Mesa | AZ | — | 849 | 2,547 | 165 | 849 | 2,712 | 3,561 | 691 | 4-Aug | ||||||||||||||||||||||
1211 | Peoria | AZ | 4,374 | 652 | 4,105 | 136 | 652 | 4,241 | 4,893 | 843 | 6-Apr | ||||||||||||||||||||||
1431 | Peoria | AZ | — | 1,060 | 4,731 | 12 | 1,060 | 4,743 | 5,803 | 352 | 11-Jan | ||||||||||||||||||||||
338 | Phoenix | AZ | 7,053 | 1,441 | 7,982 | 562 | 1,441 | 8,544 | 9,985 | 2,071 | 5-Jul | ||||||||||||||||||||||
659 | Phoenix | AZ | — | 669 | 4,135 | 248 | 669 | 4,383 | 5,052 | 858 | 7-Jan | ||||||||||||||||||||||
822 | Phoenix | AZ | — | 2,257 | 7,820 | 42 | 2,257 | 7,862 | 10,119 | 227 | 12-Nov | ||||||||||||||||||||||
1356 | Phoenix | AZ | 3,361 | 552 | 3,530 | 230 | 552 | 3,760 | 4,312 | 815 | 6-Jun | ||||||||||||||||||||||
814 | Tucson | AZ | — | 1,090 | 7,845 | 22 | 1,090 | 7,867 | 8,957 | 228 | 12-Nov | ||||||||||||||||||||||
1370 | Alameda | CA | — | 2,919 | 12,984 | 2,027 | 2,919 | 15,011 | 17,930 | 3,062 | 7-Jun | ||||||||||||||||||||||
1522 | Alhambra | CA | — | 10,109 | 6,065 | 2 | 10,109 | 6,067 | 16,176 | 45 | 13-Aug | ||||||||||||||||||||||
1523 | Anaheim | CA | — | 3,593 | 3,330 | 10 | 3,593 | 3,340 | 6,933 | 25 | 13-Aug | ||||||||||||||||||||||
1524 | Anaheim | CA | — | 2,519 | 2,886 | 8 | 2,519 | 2,894 | 5,413 | 22 | 13-Aug | ||||||||||||||||||||||
1232 | Antelope | CA | — | 1,525 | 8,345 | (299 | ) | 1,185 | 8,386 | 9,571 | 1,136 | 8-Jul | |||||||||||||||||||||
1471 | Bellflower | CA | 1,264 | 640 | 1,350 | 35 | 640 | 1,385 | 2,025 | 82 | 11-Oct | ||||||||||||||||||||||
1222 | Belmont | CA | — | 3,500 | 7,280 | 52 | 3,500 | 7,332 | 10,832 | 1,208 | 7-May | ||||||||||||||||||||||
1371 | Berkeley | CA | 19,782 | 1,716 | 19,602 | 1,843 | 1,716 | 21,445 | 23,161 | 3,882 | 7-Jun | ||||||||||||||||||||||
1472 | Bloomington | CA | — | 934 | 1,937 | 156 | 934 | 2,093 | 3,027 | 149 | 11-Oct | ||||||||||||||||||||||
1473 | Bloomington | CA | — | 647 | 1,303 | 130 | 647 | 1,433 | 2,080 | 93 | 11-Oct | ||||||||||||||||||||||
1071 | Burbank | CA | — | 3,199 | 5,082 | 1,751 | 3,618 | 6,414 | 10,032 | 2,266 | Aug-00 | ||||||||||||||||||||||
1525 | Burbank | CA | — | 4,061 | 5,318 | 2 | 4,061 | 5,320 | 9,381 | 40 | 13-Aug | ||||||||||||||||||||||
1461 | Burlingame | CA | 5,441 | 2,211 | 5,829 | 114 | 2,211 | 5,943 | 8,154 | 423 | 11-Apr | ||||||||||||||||||||||
1256 | Carson | CA | — | — | 9,709 | 74 | — | 9,783 | 9,783 | 702 | 11-Mar | ||||||||||||||||||||||
1372 | Castro Valley | CA | — | — | 6,346 | 384 | — | 6,730 | 6,730 | 1,147 | 7-Jun | ||||||||||||||||||||||
1474 | Cerritos | CA | 17,173 | 8,728 | 15,895 | 565 | 8,728 | 16,460 | 25,188 | 953 | 11-Oct | ||||||||||||||||||||||
224 | Chatsworth | CA | 10,675 | 5,853 | 11,286 | 382 | 9,921 | 7,600 | 17,521 | 869 | 13-Nov | ||||||||||||||||||||||
1004 | Claremont | CA | — | 1,472 | 2,012 | 231 | 1,472 | 2,243 | 3,715 | 618 | 4-Jun | ||||||||||||||||||||||
1475 | Claremont | CA | — | 1,375 | 1,434 | 168 | 1,375 | 1,602 | 2,977 | 93 | 11-Oct | ||||||||||||||||||||||
1373 | Colma | CA | 23,332 | 3,947 | 22,002 | 2,242 | 3,947 | 24,244 | 28,191 | 4,561 | 7-Jun | ||||||||||||||||||||||
1255 | Compton | CA | — | 1,426 | 7,582 | 42 | 1,426 | 7,624 | 9,050 | 1,042 | 8-Sep | ||||||||||||||||||||||
1526 | Concord | CA | — | 3,082 | 2,822 | 7 | 3,082 | 2,829 | 5,911 | 21 | 13-Aug | ||||||||||||||||||||||
1404 | El Cajon | CA | — | 1,100 | 6,380 | 46 | 1,100 | 6,426 | 7,526 | 692 | 9-Sep | ||||||||||||||||||||||
1378 | El Sobrante | CA | — | 1,209 | 4,018 | 1,280 | 1,209 | 5,298 | 6,507 | 1,154 | 7-Jun | ||||||||||||||||||||||
683 | Elk Grove | CA | — | 894 | 6,949 | — | 894 | 6,949 | 7,843 | 7 | 13-Dec | ||||||||||||||||||||||
696 | Elk Grove | CA | — | 640 | 8,640 | — | 640 | 8,640 | 9,280 | 9 | 13-Dec | ||||||||||||||||||||||
1166 | Elk Grove | CA | 2,936 | 952 | 6,936 | 441 | 1,075 | 7,254 | 8,329 | 611 | 7-Dec | ||||||||||||||||||||||
765 | Fair Oaks | CA | 4,337 | 644 | 11,287 | — | 644 | 11,287 | 11,931 | 12 | 13-Dec | ||||||||||||||||||||||
1121 | Fontana | CA | 5,418 | 1,246 | 3,356 | 477 | 1,300 | 3,779 | 5,079 | 1,037 | 3-Oct | ||||||||||||||||||||||
1157 | Fontana | CA | 3,280 | 961 | 3,846 | 428 | 1,000 | 4,235 | 5,235 | 1,296 | 2-Sep | ||||||||||||||||||||||
1476 | Fontana | CA | — | 768 | 4,208 | 117 | 768 | 4,325 | 5,093 | 254 | 11-Oct | ||||||||||||||||||||||
1477 | Fontana | CA | — | 778 | 4,723 | 119 | 778 | 4,842 | 5,620 | 291 | 11-Oct | ||||||||||||||||||||||
1478 | Fontana | CA | 3,997 | 684 | 3,951 | 97 | 684 | 4,048 | 4,732 | 241 | 11-Oct | ||||||||||||||||||||||
1031 | Glendale | CA | — | — | 6,084 | 254 | — | 6,338 | 6,338 | 1,644 | 4-Jun | ||||||||||||||||||||||
305 | Hawaiian Gardens | CA | 9,468 | 2,964 | 12,478 | 95 | 2,964 | 12,573 | 15,537 | 487 | 12-Jul | ||||||||||||||||||||||
1030 | Hawthorne | CA | 3,858 | 1,532 | 3,871 | 236 | 1,532 | 4,107 | 5,639 | 1,093 | 4-Jun | ||||||||||||||||||||||
1374 | Hayward | CA | 8,585 | 3,149 | 8,006 | 2,359 | 3,149 | 10,365 | 13,514 | 2,194 | 7-Jun | ||||||||||||||||||||||
177 | Hemet | CA | 5,051 | 1,146 | 6,369 | 272 | 1,146 | 6,641 | 7,787 | 1,546 | 5-Jul | ||||||||||||||||||||||
1479 | Hesperia | CA | — | 156 | 430 | 105 | 156 | 535 | 691 | 47 | 11-Oct | ||||||||||||||||||||||
1070 | Inglewood | CA | 5,530 | 1,379 | 3,343 | 961 | 1,529 | 4,154 | 5,683 | 1,557 | Aug-00 | ||||||||||||||||||||||
1480 | Irvine | CA | 5,056 | 3,821 | 3,999 | 59 | 3,821 | 4,058 | 7,879 | 240 | 11-Oct | ||||||||||||||||||||||
1481 | Lake Elsinore | CA | 3,310 | 587 | 4,219 | 179 | 587 | 4,398 | 4,985 | 252 | 11-Oct | ||||||||||||||||||||||
1482 | Lake Elsinore | CA | — | 294 | 2,105 | 80 | 294 | 2,185 | 2,479 | 129 | 11-Oct | ||||||||||||||||||||||
1278 | Lancaster | CA | — | 1,425 | 5,855 | 79 | 1,425 | 5,934 | 7,359 | 619 | 9-Oct | ||||||||||||||||||||||
1358 | Lancaster | CA | 5,706 | 1,347 | 5,827 | 234 | 1,347 | 6,061 | 7,408 | 1,278 | 6-Jul | ||||||||||||||||||||||
1013 | Livermore | CA | — | 1,134 | 4,615 | 227 | 1,134 | 4,842 | 5,976 | 1,233 | 4-Jun | ||||||||||||||||||||||
1483 | Long Beach | CA | 2,733 | 1,772 | 2,539 | 103 | 1,772 | 2,642 | 4,414 | 160 | 11-Oct | ||||||||||||||||||||||
354 | Long Beach | CA | 5,909 | 2,205 | 8,356 | 290 | 5,859 | 4,992 | 10,851 | 627 | 13-Nov | ||||||||||||||||||||||
352 | Los Angeles | CA | 10,345 | 4,555 | 10,590 | 33 | 4,555 | 10,623 | 15,178 | 400 | 12-Jul | ||||||||||||||||||||||
353 | Los Angeles | CA | 5,276 | 3,099 | 4,889 | 35 | 3,099 | 4,924 | 8,023 | 188 | 12-Jul | ||||||||||||||||||||||
1057 | Los Angeles | CA | 9,014 | 1,431 | 2,976 | 743 | 1,611 | 3,539 | 5,150 | 1,263 | Mar-00 | ||||||||||||||||||||||
1160 | Los Angeles | CA | — | 3,991 | 9,774 | 55 | 3,991 | 9,829 | 13,820 | 1,531 | 7-Dec | ||||||||||||||||||||||
1235 | Los Angeles | CA | 4,862 | 2,200 | 8,108 | 47 | 2,200 | 8,155 | 10,355 | 1,117 | 8-Sep | ||||||||||||||||||||||
1563 | Los Angeles | CA | — | 287 | 2,011 | — | 287 | 2,011 | 2,298 | 2 | 13-Dec | ||||||||||||||||||||||
1296 | Los Gatos | CA | — | 2,550 | 8,257 | 52 | 2,550 | 8,309 | 10,859 | 402 | 12-Jul | ||||||||||||||||||||||
8055 | Manteca | CA | 3,673 | 848 | 2,543 | 146 | 848 | 2,689 | 3,537 | 717 | 4-Jan | ||||||||||||||||||||||
107 | Marina del Rey | CA | 17,537 | 14,875 | 22,464 | 1,332 | 19,928 | 18,743 | 38,671 | 1,588 | 13-Nov | ||||||||||||||||||||||
1527 | Menlo Park | CA | — | 7,675 | 1,812 | 3 | 7,675 | 1,815 | 9,490 | 14 | 13-Aug | ||||||||||||||||||||||
1383 | Modesto | CA | 3,231 | 909 | 3,043 | 269 | 909 | 3,312 | 4,221 | 651 | 7-Jun | ||||||||||||||||||||||
1528 | Modesto | CA | — | 1,647 | 4,215 | 8 | 1,647 | 4,223 | 5,870 | 32 | 13-Aug | ||||||||||||||||||||||
231 | Moreno Valley | CA | 2,121 | 482 | 3,484 | 21 | 482 | 3,505 | 3,987 | 132 | 12-Jul | ||||||||||||||||||||||
484 | North Highlands | CA | 2,097 | 1,020 | 2,516 | 75 | 798 | 2,813 | 3,611 | 288 | 13-Nov | ||||||||||||||||||||||
1122 | North Hollywood | CA | 7,069 | 3,125 | 9,257 | 138 | 3,125 | 9,395 | 12,520 | 1,861 | 6-May | ||||||||||||||||||||||
1529 | North Hollywood | CA | — | 4,501 | 4,465 | 2 | 4,501 | 4,467 | 8,968 | 33 | 13-Aug | ||||||||||||||||||||||
1530 | Northridge | CA | — | 3,641 | 2,872 | 3 | 3,641 | 2,875 | 6,516 | 22 | 13-Aug | ||||||||||||||||||||||
1053 | Oakland | CA | 4,271 | — | 3,777 | 990 | — | 4,767 | 4,767 | 1,764 | Apr-00 | ||||||||||||||||||||||
1267 | Oakland | CA | — | 3,024 | 11,321 | 160 | 3,024 | 11,481 | 14,505 | 1,059 | 10-May | ||||||||||||||||||||||
1531 | Oakland | CA | — | 6,359 | 5,753 | 5 | 6,359 | 5,758 | 12,117 | 43 | 13-Aug | ||||||||||||||||||||||
1566 | Oakland | CA | — | 1,668 | 7,652 | — | 1,668 | 7,652 | 9,320 | 8 | 13-Dec | ||||||||||||||||||||||
645 | Oceanside | CA | 9,245 | 3,241 | 11,361 | 722 | 3,241 | 12,083 | 15,324 | 2,889 | 5-Jul | ||||||||||||||||||||||
825 | Orange | CA | 12,660 | 4,847 | 12,341 | 140 | 4,847 | 12,481 | 17,328 | 360 | 12-Nov | ||||||||||||||||||||||
695 | Oxnard | CA | — | 5,421 | 6,761 | — | 5,421 | 6,761 | 12,182 | 7 | 13-Dec | ||||||||||||||||||||||
1254 | Pacoima | CA | 2,257 | 3,050 | 7,597 | 81 | 3,050 | 7,678 | 10,728 | 852 | 9-Aug | ||||||||||||||||||||||
1111 | Palmdale | CA | 4,885 | 1,225 | 5,379 | 2,197 | 1,225 | 7,576 | 8,801 | 1,724 | 5-Jan | ||||||||||||||||||||||
1484 | Paramount | CA | 2,630 | 1,404 | 2,549 | 121 | 1,404 | 2,670 | 4,074 | 163 | 11-Oct | ||||||||||||||||||||||
1020 | Pico Rivera | CA | 4,150 | 1,150 | 3,450 | 161 | 1,150 | 3,611 | 4,761 | 1,160 | Aug-00 | ||||||||||||||||||||||
1485 | Placentia | CA | 6,832 | 4,798 | 5,483 | 165 | 4,798 | 5,648 | 10,446 | 331 | 11-Oct | ||||||||||||||||||||||
1382 | Pleasanton | CA | 7,127 | 1,208 | 4,283 | 418 | 1,208 | 4,701 | 5,909 | 1,001 | 7-May | ||||||||||||||||||||||
1029 | Richmond | CA | 4,944 | 953 | 4,635 | 607 | 953 | 5,242 | 6,195 | 1,409 | 4-Jun | ||||||||||||||||||||||
1532 | Richmond | CA | — | 3,139 | 7,437 | 6 | 3,139 | 7,443 | 10,582 | 56 | 13-Sep | ||||||||||||||||||||||
8016 | Riverside | CA | — | 1,075 | 4,042 | 515 | 1,075 | 4,557 | 5,632 | 1,226 | 4-Aug | ||||||||||||||||||||||
684 | Rocklin | CA | — | 1,745 | 8,005 | — | 1,745 | 8,005 | 9,750 | 9 | 13-Dec | ||||||||||||||||||||||
1555 | Rohnert Park | CA | — | 990 | 8,094 | 4 | 990 | 8,098 | 9,088 | 26 | 13-Nov | ||||||||||||||||||||||
328 | Sacramento | CA | 4,003 | 852 | 4,720 | 463 | 852 | 5,183 | 6,035 | 1,281 | 5-Jul | ||||||||||||||||||||||
1273 | Sacramento | CA | 3,082 | 1,738 | 5,522 | 107 | 1,844 | 5,523 | 7,367 | 469 | 10-Oct | ||||||||||||||||||||||
1433 | Sacramento | CA | — | 2,400 | 7,425 | 74 | 2,400 | 7,499 | 9,899 | 830 | 9-Sep | ||||||||||||||||||||||
1007 | San Bernardino | CA | — | 1,213 | 3,061 | 109 | 1,173 | 3,210 | 4,383 | 843 | 4-Jun | ||||||||||||||||||||||
1194 | San Bernardino | CA | — | 750 | 5,135 | 69 | 750 | 5,204 | 5,954 | 969 | 6-Jun | ||||||||||||||||||||||
1533 | San Diego | CA | — | 5,919 | 6,729 | 6 | 5,919 | 6,735 | 12,654 | 50 | 13-Aug | ||||||||||||||||||||||
1486 | San Dimas | CA | 5,466 | 1,867 | 6,354 | 132 | 1,867 | 6,486 | 8,353 | 376 | 11-Oct | ||||||||||||||||||||||
1368 | San Francisco | CA | 12,498 | 8,457 | 9,928 | 1,767 | 8,457 | 11,695 | 20,152 | 2,368 | 7-Jun | ||||||||||||||||||||||
1534 | San Francisco | CA | — | 5,098 | 4,054 | 7 | 5,098 | 4,061 | 9,159 | 30 | 13-Aug | ||||||||||||||||||||||
1491 | San Jose | CA | 2,514 | 2,428 | 2,323 | 97 | 2,428 | 2,420 | 4,848 | 96 | 12-Jul | ||||||||||||||||||||||
8145 | San Jose | CA | — | 5,340 | 6,821 | 197 | 5,340 | 7,018 | 12,358 | 753 | 9-Sep | ||||||||||||||||||||||
1257 | San Leandro | CA | — | 3,343 | 6,630 | (85 | ) | 3,291 | 6,597 | 9,888 | 548 | 10-Oct | |||||||||||||||||||||
1377 | San Leandro | CA | 14,812 | 4,601 | 9,777 | 1,933 | 4,601 | 11,710 | 16,311 | 2,429 | 7-Aug | ||||||||||||||||||||||
1535 | San Ramon | CA | — | 4,819 | 5,819 | 2 | 4,819 | 5,821 | 10,640 | 44 | 13-Aug | ||||||||||||||||||||||
1536 | Santa Ana | CA | — | 3,485 | 2,382 | 6 | 3,485 | 2,388 | 5,873 | 18 | 13-Aug | ||||||||||||||||||||||
1261 | Santa Clara | CA | 8,249 | 4,750 | 8,218 | 31 | 4,750 | 8,249 | 12,999 | 915 | 9-Jul | ||||||||||||||||||||||
721 | Santa Cruz | CA | 8,828 | 1,588 | 11,160 | 18 | 1,588 | 11,178 | 12,766 | 419 | 12-Jul | ||||||||||||||||||||||
1384 | Santa Fe Springs | CA | 6,590 | 3,617 | 7,022 | 285 | 3,617 | 7,307 | 10,924 | 1,300 | 7-Oct | ||||||||||||||||||||||
1487 | Santa Maria | CA | 2,980 | 1,556 | 2,740 | 208 | 1,556 | 2,948 | 4,504 | 177 | 11-Oct | ||||||||||||||||||||||
1488 | Santa Maria | CA | 3,228 | 1,310 | 3,526 | 59 | 1,310 | 3,585 | 4,895 | 209 | 11-Oct | ||||||||||||||||||||||
8008 | Sherman Oaks | CA | 16,732 | 4,051 | 12,152 | 308 | 4,051 | 12,460 | 16,511 | 3,056 | 4-Aug | ||||||||||||||||||||||
1275 | Simi Valley | CA | — | 5,533 | — | (3,308 | ) | 2,225 | — | 2,225 | — | ||||||||||||||||||||||
1537 | Stanton | CA | — | 5,022 | 2,267 | 5 | 5,022 | 2,272 | 7,294 | 17 | 13-Aug | ||||||||||||||||||||||
1095 | Stockton | CA | 2,506 | 649 | 3,272 | 172 | 649 | 3,444 | 4,093 | 1,066 | 2-May | ||||||||||||||||||||||
1564 | Stockton | CA | — | 3,619 | 2,443 | — | 3,619 | 2,443 | 6,062 | 3 | 13-Dec | ||||||||||||||||||||||
1538 | Sunnyvale | CA | — | 10,732 | 5,004 | 3 | 10,732 | 5,007 | 15,739 | 37 | 13-Aug | ||||||||||||||||||||||
1425 | Sylmar | CA | — | 3,058 | 4,671 | 249 | 3,058 | 4,920 | 7,978 | 834 | 8-May | ||||||||||||||||||||||
1253 | Thousand Oaks | CA | — | 4,500 | — | (1,000 | ) | 3,500 | — | 3,500 | — | ||||||||||||||||||||||
1009 | Torrance | CA | — | 3,710 | 6,271 | 956 | 4,110 | 6,827 | 10,937 | 1,788 | 4-Jun | ||||||||||||||||||||||
1112 | Tracy | CA | 5,159 | 778 | 2,638 | 808 | 911 | 3,313 | 4,224 | 935 | 3-Jul | ||||||||||||||||||||||
1174 | Tracy | CA | 3,168 | 946 | 1,937 | 253 | 946 | 2,190 | 3,136 | 666 | 4-Apr | ||||||||||||||||||||||
1379 | Vallejo | CA | 3,017 | 1,177 | 2,157 | 965 | 1,177 | 3,122 | 4,299 | 781 | 7-Jun | ||||||||||||||||||||||
1539 | Van Nuys | CA | — | 7,939 | 2,576 | 6 | 7,939 | 2,582 | 10,521 | 19 | 13-Aug | ||||||||||||||||||||||
8011 | Venice | CA | 14,658 | 2,803 | 8,410 | 193 | 2,803 | 8,603 | 11,406 | 2,106 | 4-Aug | ||||||||||||||||||||||
1540 | Ventura | CA | — | 3,453 | 2,837 | 2 | 3,453 | 2,839 | 6,292 | 21 | 13-Aug | ||||||||||||||||||||||
1489 | Victorville | CA | — | 151 | 751 | 138 | 151 | 889 | 1,040 | 58 | 11-Oct | ||||||||||||||||||||||
144 | Watsonville | CA | 3,241 | 1,699 | 3,056 | 216 | 1,699 | 3,272 | 4,971 | 795 | 5-Jul | ||||||||||||||||||||||
1083 | Whittier | CA | 3,400 | — | 2,985 | 170 | — | 3,155 | 3,155 | 970 | 2-Jun | ||||||||||||||||||||||
1541 | Wilmington | CA | — | 6,792 | 10,726 | 3 | 6,792 | 10,729 | 17,521 | 80 | 13-Aug | ||||||||||||||||||||||
1073 | Arvada | CO | 1,861 | 286 | 1,521 | 671 | 286 | 2,192 | 2,478 | 918 | Sep-00 | ||||||||||||||||||||||
1458 | Castle Rock | CO | 1,151 | 407 | 3,077 | 164 | 407 | 3,241 | 3,648 | 230 | 11-May | ||||||||||||||||||||||
665 | Colorado Springs | CO | 3,919 | 781 | 3,400 | 230 | 781 | 3,630 | 4,411 | 679 | 7-Aug | ||||||||||||||||||||||
744 | Colorado Springs | CO | 4,368 | 1,525 | 4,310 | 241 | 1,525 | 4,551 | 6,076 | 665 | 8-Nov | ||||||||||||||||||||||
1459 | Colorado Springs | CO | 1,782 | 296 | 4,199 | 198 | 296 | 4,397 | 4,693 | 314 | 11-Jun | ||||||||||||||||||||||
1460 | Colorado Springs | CO | — | — | 6,945 | 79 | — | 7,024 | 7,024 | 264 | 12-Jul | ||||||||||||||||||||||
679 | Denver | CO | 3,777 | 368 | 1,574 | 228 | 368 | 1,802 | 2,170 | 474 | 5-Jul | ||||||||||||||||||||||
1074 | Denver | CO | 2,635 | 602 | 2,052 | 1,299 | 745 | 3,208 | 3,953 | 1,173 | Sep-00 | ||||||||||||||||||||||
1359 | Parker | CO | 5,108 | 800 | 4,549 | 758 | 800 | 5,307 | 6,107 | 1,150 | 6-Sep | ||||||||||||||||||||||
1075 | Thornton | CO | 2,886 | 212 | 2,044 | 1,100 | 248 | 3,108 | 3,356 | 1,195 | Sep-00 | ||||||||||||||||||||||
1076 | Westminster | CO | 2,177 | 291 | 1,586 | 1,021 | 299 | 2,599 | 2,898 | 1,122 | Sep-00 | ||||||||||||||||||||||
568 | Brookfield | CT | 5,187 | 991 | 7,891 | 106 | 991 | 7,997 | 8,988 | 305 | 12-Jul | ||||||||||||||||||||||
1079 | Groton | CT | — | 1,277 | 3,992 | 435 | 1,277 | 4,427 | 5,704 | 1,310 | 4-Jan | ||||||||||||||||||||||
1192 | Middletown | CT | 2,853 | 932 | 2,810 | 183 | 932 | 2,993 | 3,925 | 486 | 7-Dec | ||||||||||||||||||||||
1553 | Newington | CT | — | 1,363 | 2,978 | 1 | 1,363 | 2,979 | 4,342 | 10 | 13-Nov | ||||||||||||||||||||||
1097 | Wethersfield | CT | 4,133 | 709 | 4,205 | 219 | 709 | 4,424 | 5,133 | 1,328 | 2-Aug | ||||||||||||||||||||||
1492 | Auburndale | FL | 1,297 | 470 | 1,076 | 139 | 470 | 1,215 | 1,685 | 57 | 12-May | ||||||||||||||||||||||
831 | Brandon | FL | — | 1,327 | 5,656 | 126 | 1,327 | 5,782 | 7,109 | 168 | 12-Nov | ||||||||||||||||||||||
1392 | Coral Springs | FL | 6,461 | 3,638 | 6,590 | 254 | 3,638 | 6,844 | 10,482 | 1,076 | 8-Jun | ||||||||||||||||||||||
752 | Deland | FL | 2,823 | 1,318 | 3,971 | 263 | 1,318 | 4,234 | 5,552 | 909 | 6-Jan | ||||||||||||||||||||||
1402 | Estero | FL | — | 2,198 | 8,215 | 59 | 2,198 | 8,274 | 10,472 | 911 | 9-Jul | ||||||||||||||||||||||
819 | Fort Lauderdale | FL | — | 1,576 | 5,397 | 192 | 1,576 | 5,589 | 7,165 | 160 | 12-Nov | ||||||||||||||||||||||
101 | Fort Myers | FL | 4,194 | 1,985 | 4,983 | 429 | 1,985 | 5,412 | 7,397 | 1,346 | 5-Jul | ||||||||||||||||||||||
1308 | Fort Myers | FL | 2,830 | 1,691 | 4,711 | 279 | 1,691 | 4,990 | 6,681 | 1,294 | 4-Aug | ||||||||||||||||||||||
1310 | Ft Lauderdale | FL | 2,542 | 1,587 | 4,205 | 315 | 1,587 | 4,520 | 6,107 | 1,202 | 4-Aug | ||||||||||||||||||||||
1427 | Ft Lauderdale | FL | — | 2,750 | 7,002 | 527 | 2,750 | 7,529 | 10,279 | 543 | 11-May | ||||||||||||||||||||||
1337 | Greenacres | FL | 2,615 | 1,463 | 3,244 | 122 | 1,463 | 3,366 | 4,829 | 813 | 5-Mar | ||||||||||||||||||||||
1266 | Hialeah | FL | — | 2,800 | 7,588 | 96 | 2,800 | 7,684 | 10,484 | 1,067 | 8-Aug | ||||||||||||||||||||||
1403 | Hialeah | FL | — | 1,678 | 6,807 | 36 | 1,678 | 6,843 | 8,521 | 580 | 10-Sep | ||||||||||||||||||||||
1409 | Hialeah | FL | — | 1,750 | 7,150 | 74 | 1,750 | 7,224 | 8,974 | 739 | 10-Jan | ||||||||||||||||||||||
763 | Hollywood | FL | 6,858 | 3,214 | 8,689 | 313 | 3,214 | 9,002 | 12,216 | 1,502 | 7-Nov | ||||||||||||||||||||||
1424 | Kendall | FL | — | 2,375 | 5,543 | 70 | 2,375 | 5,613 | 7,988 | 368 | 11-Feb | ||||||||||||||||||||||
1493 | Lakeland | FL | 3,926 | 593 | 4,701 | 150 | 593 | 4,851 | 5,444 | 223 | 12-May | ||||||||||||||||||||||
1494 | Lakeland | FL | 5,640 | 871 | 6,905 | 208 | 871 | 7,113 | 7,984 | 310 | 12-May | ||||||||||||||||||||||
8298 | Land O Lakes | FL | — | 798 | 4,490 | (57 | ) | 798 | 4,433 | 5,231 | 118 | 12-Dec | |||||||||||||||||||||
1314 | Madeira Beach | FL | 3,915 | 1,686 | 5,163 | 244 | 1,686 | 5,407 | 7,093 | 1,364 | 4-Aug | ||||||||||||||||||||||
1068 | Margate | FL | 3,421 | 430 | 3,139 | 704 | 469 | 3,804 | 4,273 | 1,358 | Aug-00 | ||||||||||||||||||||||
207 | Miami | FL | 5,814 | 4,867 | 7,126 | 382 | 5,042 | 7,333 | 12,375 | 572 | 13-Nov | ||||||||||||||||||||||
208 | Miami | FL | 5,793 | 1,979 | 6,513 | 113 | 1,979 | 6,626 | 8,605 | 253 | 12-Jul | ||||||||||||||||||||||
254 | Miami | FL | 8,121 | 3,257 | 9,713 | 102 | 3,257 | 9,815 | 13,072 | 374 | 12-Jul | ||||||||||||||||||||||
1066 | Miami | FL | 3,126 | 1,325 | 4,395 | 946 | 1,439 | 5,227 | 6,666 | 1,881 | Aug-00 | ||||||||||||||||||||||
1067 | Miami | FL | 8,056 | 5,315 | 4,305 | 1,383 | 5,859 | 5,144 | 11,003 | 1,786 | Aug-00 | ||||||||||||||||||||||
1385 | Miami | FL | 4,561 | 1,238 | 7,597 | 290 | 1,238 | 7,887 | 9,125 | 1,448 | 7-May | ||||||||||||||||||||||
1466 | Miami | FL | — | 521 | 5,198 | 123 | 521 | 5,321 | 5,842 | 324 | 11-Oct | ||||||||||||||||||||||
8133 | Miami | FL | — | 3,305 | 11,997 | — | 3,305 | 11,997 | 15,302 | 38 | 13-Nov | ||||||||||||||||||||||
1429 | Miami | FL | 6,853 | 4,798 | 9,475 | 118 | 4,798 | 9,593 | 14,391 | 995 | 9-Nov | ||||||||||||||||||||||
149 | Naples | FL | 5,147 | 2,226 | 4,655 | (4 | ) | 1,990 | 4,887 | 6,877 | 332 | 13-Nov | |||||||||||||||||||||
8144 | Naranja | FL | — | 603 | 11,223 | — | 603 | 11,223 | 11,826 | 36 | 13-Nov | ||||||||||||||||||||||
8297 | North Fort Myers | FL | — | 799 | 2,372 | (3,171 | ) | (a) | — | — | — | — | 12-Dec | ||||||||||||||||||||
1064 | North Lauderdale | FL | 4,186 | 428 | 3,516 | 1,004 | 459 | 4,489 | 4,948 | 1,722 | Aug-00 | ||||||||||||||||||||||
1060 | North Miami | FL | — | 1,256 | 6,535 | 567 | 1,256 | 7,102 | 8,358 | 1,903 | 4-Jun | ||||||||||||||||||||||
1335 | Ocoee | FL | 3,113 | 872 | 3,642 | 209 | 872 | 3,851 | 4,723 | 977 | 5-Mar | ||||||||||||||||||||||
1317 | Orlando | FL | 4,339 | 1,216 | 5,008 | 351 | 1,216 | 5,359 | 6,575 | 1,389 | 4-Aug | ||||||||||||||||||||||
1333 | Orlando | FL | 4,106 | 2,233 | 9,223 | 371 | 2,233 | 9,594 | 11,827 | 2,337 | 5-Mar | ||||||||||||||||||||||
1334 | Orlando | FL | 5,811 | 1,474 | 6,101 | 271 | 1,474 | 6,372 | 7,846 | 1,530 | 5-Mar | ||||||||||||||||||||||
1336 | Orlando | FL | 4,062 | 1,166 | 4,816 | 1,248 | 1,166 | 6,064 | 7,230 | 1,374 | 5-Mar | ||||||||||||||||||||||
8136 | Orlando | FL | — | 625 | 2,133 | 73 | 625 | 2,206 | 2,831 | 216 | 10-Jul | ||||||||||||||||||||||
1560 | Palm Springs | FL | — | 2,108 | 8,028 | 1 | 2,108 | 8,029 | 10,137 | 26 | 13-Nov | ||||||||||||||||||||||
1432 | Plantation | FL | — | 3,850 | — | (1,504 | ) | 2,346 | — | 2,346 | — | ||||||||||||||||||||||
1318 | Port Charlotte | FL | — | 1,389 | 4,632 | 211 | 1,389 | 4,843 | 6,232 | 1,222 | 4-Aug | ||||||||||||||||||||||
1319 | Riverview | FL | 2,398 | 654 | 2,953 | 262 | 654 | 3,215 | 3,869 | 840 | 4-Aug | ||||||||||||||||||||||
812 | Sarasota | FL | — | 4,666 | 9,016 | 208 | 4,666 | 9,224 | 13,890 | 265 | 12-Nov | ||||||||||||||||||||||
8187 | Seminole | FL | 2,620 | 1,133 | 3,017 | 144 | 1,133 | 3,161 | 4,294 | 84 | 12-Dec | ||||||||||||||||||||||
8137 | St Petersburg | FL | 2,531 | 805 | 3,345 | 32 | 805 | 3,377 | 4,182 | 91 | 12-Dec | ||||||||||||||||||||||
545 | Tampa | FL | 4,003 | 1,425 | 4,766 | 310 | 1,425 | 5,076 | 6,501 | 1,012 | 7-Mar | ||||||||||||||||||||||
1366 | Tampa | FL | 3,679 | 883 | 3,533 | 146 | 883 | 3,679 | 4,562 | 725 | 6-Nov | ||||||||||||||||||||||
1324 | Valrico | FL | 4,590 | 1,197 | 4,411 | 229 | 1,197 | 4,640 | 5,837 | 1,198 | 4-Aug | ||||||||||||||||||||||
692 | Venice | FL | 6,901 | 1,969 | 5,903 | 316 | 1,969 | 6,219 | 8,188 | 1,378 | 6-Jan | ||||||||||||||||||||||
976 | West Palm Beach | FL | 3,812 | 1,752 | 4,909 | 408 | 1,752 | 5,317 | 7,069 | 1,368 | 5-Jul | ||||||||||||||||||||||
1065 | West Palm Beach | FL | 1,484 | 1,164 | 2,511 | 717 | 1,246 | 3,146 | 4,392 | 1,135 | Aug-00 | ||||||||||||||||||||||
1069 | West Palm Beach | FL | 1,709 | 1,312 | 2,511 | 851 | 1,416 | 3,258 | 4,674 | 1,232 | Aug-00 | ||||||||||||||||||||||
1186 | West Palm Beach | FL | 3,458 | 1,729 | 4,058 | 77 | 1,729 | 4,135 | 5,864 | 221 | 11-Dec | ||||||||||||||||||||||
515 | West Palm Beach | FL | 2,478 | 1,550 | 2,894 | (11 | ) | 1,595 | 2,838 | 4,433 | 236 | 13-Nov | |||||||||||||||||||||
693 | Alpharetta | GA | 2,589 | 1,893 | 3,161 | 153 | 1,893 | 3,314 | 5,207 | 692 | 6-Aug | ||||||||||||||||||||||
815 | Atlanta | GA | — | 1,718 | 6,388 | 61 | 1,718 | 6,449 | 8,167 | 186 | 12-Nov | ||||||||||||||||||||||
1304 | Atlanta | GA | 7,943 | 3,737 | 8,333 | 395 | 3,737 | 8,728 | 12,465 | 2,240 | 4-Aug | ||||||||||||||||||||||
1320 | Atlanta | GA | — | 1,665 | 2,028 | 199 | 1,665 | 2,227 | 3,892 | 619 | 4-Aug | ||||||||||||||||||||||
1338 | Atlanta | GA | 6,569 | 3,319 | 8,325 | 499 | 3,319 | 8,824 | 12,143 | 2,179 | 5-Feb | ||||||||||||||||||||||
1544 | Augusta | GA | — | 710 | 2,299 | 3 | 710 | 2,302 | 3,012 | 7 | 13-Nov | ||||||||||||||||||||||
699 | Dacula | GA | 3,773 | 1,993 | 3,001 | 127 | 1,993 | 3,128 | 5,121 | 673 | 6-Jan | ||||||||||||||||||||||
8163 | Douglasville | GA | — | 1,209 | 719 | 310 | 1,209 | 1,029 | 2,238 | 122 | 10-Jun | ||||||||||||||||||||||
753 | Duluth | GA | 3,522 | 1,454 | 4,151 | 129 | 1,454 | 4,280 | 5,734 | 754 | 7-Jun | ||||||||||||||||||||||
8162 | Kennesaw | GA | — | 673 | 1,151 | 127 | 673 | 1,278 | 1,951 | 135 | 10-Jun | ||||||||||||||||||||||
1552 | Lawrenceville | GA | — | 2,117 | 2,784 | 3 | 2,117 | 2,787 | 4,904 | 9 | 13-Nov | ||||||||||||||||||||||
8134 | Lithonia | GA | — | 1,958 | 3,645 | 86 | 1,958 | 3,731 | 5,689 | 410 | 9-Nov | ||||||||||||||||||||||
8161 | Marietta | GA | — | 887 | 2,617 | 213 | 887 | 2,830 | 3,717 | 285 | 10-Jun | ||||||||||||||||||||||
1321 | Snellville | GA | — | 2,691 | 4,026 | 280 | 2,691 | 4,306 | 6,997 | 1,120 | 4-Aug | ||||||||||||||||||||||
417 | Stone Mountain | GA | 2,629 | 925 | 3,505 | 305 | 925 | 3,810 | 4,735 | 912 | 5-Jul | ||||||||||||||||||||||
1322 | Stone Mountain | GA | 2,870 | 1,817 | 4,382 | 293 | 1,817 | 4,675 | 6,492 | 1,189 | 4-Aug | ||||||||||||||||||||||
745 | Sugar Hill | GA | — | 1,368 | 2,540 | 190 | 1,368 | 2,730 | 4,098 | 511 | 7-Jun | ||||||||||||||||||||||
754 | Sugar Hill | GA | — | 1,371 | 2,547 | 184 | 1,371 | 2,731 | 4,102 | 512 | 7-Jun | ||||||||||||||||||||||
1599 | Tucker | GA | — | 1,773 | 10,456 | 2 | 1,773 | 10,458 | 12,231 | 56 | 13-Oct | ||||||||||||||||||||||
1313 | Alpharetta | GL | — | 1,973 | 1,587 | 248 | 1,973 | 1,835 | 3,808 | 494 | 4-Aug | ||||||||||||||||||||||
1521 | Honolulu | HI | — | 4,674 | 18,350 | 12 | 4,674 | 18,362 | 23,036 | 295 | 13-May | ||||||||||||||||||||||
1375 | Kahului | HI | — | 3,984 | 15,044 | 656 | 3,984 | 15,700 | 19,684 | 2,861 | 7-Jun | ||||||||||||||||||||||
1376 | Kapolei | HI | 9,700 | — | 24,701 | 430 | — | 25,131 | 25,131 | 4,351 | 7-Jun | ||||||||||||||||||||||
1567 | Kapolei | HI | — | — | 7,776 | — | — | 7,776 | 7,776 | 8 | 13-Dec | ||||||||||||||||||||||
1520 | Wahiawa | HI | — | 1,317 | 2,626 | 15 | 1,317 | 2,641 | 3,958 | 43 | 13-May | ||||||||||||||||||||||
8129 | Bedford Park | IL | — | 922 | 3,289 | 8 | 922 | 3,297 | 4,219 | 11 | 13-Nov | ||||||||||||||||||||||
728 | Chicago | IL | 3,050 | 449 | 2,471 | 744 | 449 | 3,215 | 3,664 | 875 | 5-Jul | ||||||||||||||||||||||
729 | Chicago | IL | 2,764 | 472 | 2,582 | 720 | 472 | 3,302 | 3,774 | 932 | 5-Jul | ||||||||||||||||||||||
731 | Chicago | IL | 4,194 | 621 | 3,428 | 904 | 621 | 4,332 | 4,953 | 1,229 | 5-Jul | ||||||||||||||||||||||
1226 | Chicago | IL | — | 1,925 | — | — | 1,925 | — | 1,925 | — | |||||||||||||||||||||||
1229 | Chicago | IL | 8,642 | 1,318 | 9,485 | 35 | 1,318 | 9,520 | 10,838 | 214 | 13-Feb | ||||||||||||||||||||||
8130 | Chicago | IL | — | 1,363 | 5,850 | — | 1,363 | 5,850 | 7,213 | 19 | 13-Nov | ||||||||||||||||||||||
8131 | Chicago | IL | — | 1,143 | 6,138 | 4 | 1,143 | 6,142 | 7,285 | 20 | 13-Nov | ||||||||||||||||||||||
8259 | Chicago | IL | — | 2,881 | 6,324 | — | 2,881 | 6,324 | 9,205 | 20 | 13-Nov | ||||||||||||||||||||||
1108 | Crest Hill | IL | 2,412 | 847 | 2,946 | 810 | 968 | 3,635 | 4,603 | 1,010 | 3-Jul | ||||||||||||||||||||||
1171 | Gurnee | IL | — | 1,374 | 8,296 | 118 | 1,374 | 8,414 | 9,788 | 1,355 | 7-Oct | ||||||||||||||||||||||
1178 | Highland Park | IL | 7,232 | 5,798 | 6,016 | 74 | 5,798 | 6,090 | 11,888 | 331 | 11-Dec | ||||||||||||||||||||||
8132 | Lincolnshire | IL | — | 1,438 | 5,128 | — | 1,438 | 5,128 | 6,566 | 16 | 13-Nov | ||||||||||||||||||||||
1173 | Naperville | IL | 4,934 | 1,860 | 5,793 | 79 | 1,860 | 5,872 | 7,732 | 315 | 11-Dec | ||||||||||||||||||||||
1259 | Naperville | IL | — | 2,800 | 7,355 | (731 | ) | 1,950 | 7,474 | 9,424 | 982 | 8-Dec | |||||||||||||||||||||
1242 | North Aurora | IL | 2,485 | 600 | 5,833 | 121 | 600 | 5,954 | 6,554 | 875 | 8-May | ||||||||||||||||||||||
730 | Skokie | IL | 4,131 | 1,119 | 7,502 | 194 | 1,119 | 7,696 | 8,815 | 292 | 12-Jul | ||||||||||||||||||||||
1104 | South Holland | IL | 2,543 | 839 | 2,879 | 336 | 865 | 3,189 | 4,054 | 972 | 2-Oct | ||||||||||||||||||||||
1263 | Tinley Park | IL | — | 1,823 | 4,794 | (191 | ) | 1,548 | 4,878 | 6,426 | 668 | 8-Aug | |||||||||||||||||||||
1393 | Carmel | IN | — | 1,169 | 4,393 | 238 | 1,169 | 4,631 | 5,800 | 716 | 8-Oct | ||||||||||||||||||||||
1514 | Connersville | IN | — | 472 | 315 | 106 | 472 | 421 | 893 | 38 | 11-Jun | ||||||||||||||||||||||
1394 | Fort Wayne | IN | — | 1,899 | 3,292 | 277 | 1,899 | 3,569 | 5,468 | 578 | 8-Oct | ||||||||||||||||||||||
652 | Indianapolis | IN | — | 588 | 3,457 | 284 | 588 | 3,741 | 4,329 | 725 | 7-Aug | ||||||||||||||||||||||
827 | Indianapolis | IN | 1,107 | 646 | 1,294 | 154 | 646 | 1,448 | 2,094 | 45 | 12-Nov | ||||||||||||||||||||||
1395 | Indianapolis | IN | — | 426 | 2,903 | 308 | 426 | 3,211 | 3,637 | 538 | 8-Oct | ||||||||||||||||||||||
1396 | Indianapolis | IN | — | 850 | 4,545 | 356 | 850 | 4,901 | 5,751 | 783 | 8-Oct | ||||||||||||||||||||||
1397 | Mishawaka | IN | 2,648 | 630 | 3,349 | 247 | 630 | 3,596 | 4,226 | 578 | 8-Oct | ||||||||||||||||||||||
1513 | Richmond | IN | — | 723 | 482 | 415 | 723 | 897 | 1,620 | 61 | 11-Jun | ||||||||||||||||||||||
586 | Wichita | KS | 2,105 | 366 | 1,897 | 371 | 366 | 2,268 | 2,634 | 582 | 6-Apr | ||||||||||||||||||||||
1515 | Covington | KY | 2,033 | 839 | 2,543 | 104 | 839 | 2,647 | 3,486 | 190 | 11-Jun | ||||||||||||||||||||||
343 | Louisville | KY | 2,859 | 586 | 3,244 | 384 | 586 | 3,628 | 4,214 | 905 | 5-Jul | ||||||||||||||||||||||
648 | Louisville | KY | 4,664 | 1,217 | 4,611 | 185 | 1,217 | 4,796 | 6,013 | 1,143 | 5-Jul | ||||||||||||||||||||||
668 | Louisville | KY | 4,816 | 892 | 2,677 | 186 | 892 | 2,863 | 3,755 | 638 | 5-Dec | ||||||||||||||||||||||
1315 | Metairie | LA | 3,848 | 2,056 | 4,216 | 173 | 2,056 | 4,389 | 6,445 | 1,110 | 4-Aug | ||||||||||||||||||||||
1316 | New Orleans | LA | 5,441 | 4,058 | 4,325 | 626 | 4,058 | 4,951 | 9,009 | 1,331 | 4-Aug | ||||||||||||||||||||||
1028 | Ashland | MA | — | 474 | 3,324 | 345 | 474 | 3,669 | 4,143 | 1,255 | 3-Jun | ||||||||||||||||||||||
1010 | Auburn | MA | — | 918 | 3,728 | 262 | 918 | 3,990 | 4,908 | 1,421 | 4-May | ||||||||||||||||||||||
1546 | Billerica | MA | — | 3,023 | 6,697 | — | 3,023 | 6,697 | 9,720 | 21 | 13-Nov | ||||||||||||||||||||||
1025 | Brockton | MA | — | 647 | 2,762 | 165 | 647 | 2,927 | 3,574 | 967 | 4-May | ||||||||||||||||||||||
1547 | Brockton | MA | — | 829 | 6,195 | — | 829 | 6,195 | 7,024 | 20 | 13-Nov | ||||||||||||||||||||||
8074 | Danvers | MA | — | 3,115 | 5,736 | 65 | 3,115 | 5,801 | 8,916 | 167 | 12-Nov | ||||||||||||||||||||||
1056 | Dedham | MA | — | 2,127 | 3,041 | 562 | 2,127 | 3,603 | 5,730 | 1,311 | 2-Mar | ||||||||||||||||||||||
1205 | Dedham | MA | — | 2,443 | 7,328 | 1,356 | 2,443 | 8,684 | 11,127 | 2,384 | 4-Feb | ||||||||||||||||||||||
1208 | East Somerville | MA | — | — | — | 167 | — | 167 | 167 | 107 | 4-Feb | ||||||||||||||||||||||
675 | Everett | MA | — | 692 | 2,129 | 773 | 692 | 2,902 | 3,594 | 821 | 5-Jul | ||||||||||||||||||||||
1001 | Foxboro | MA | — | 759 | 4,158 | 559 | 759 | 4,717 | 5,476 | 1,917 | 4-May | ||||||||||||||||||||||
734 | Framingham | MA | — | — | — | 20 | — | 20 | 20 | 3 | 12-Jul | ||||||||||||||||||||||
1002 | Hudson | MA | 3,368 | 806 | 3,122 | 361 | 806 | 3,483 | 4,289 | 1,365 | 4-May | ||||||||||||||||||||||
1098 | Jamaica Plain | MA | 9,685 | 3,285 | 11,275 | 580 | 3,285 | 11,855 | 15,140 | 1,835 | 7-Dec | ||||||||||||||||||||||
1084 | Kingston | MA | — | 555 | 2,491 | 171 | 555 | 2,662 | 3,217 | 950 | 2-Oct | ||||||||||||||||||||||
7002 | Lynn | MA | — | 1,703 | 3,237 | 375 | 1,703 | 3,612 | 5,315 | 1,248 | 1-Jun | ||||||||||||||||||||||
1035 | Marshfield | MA | 4,667 | 1,039 | 4,155 | 243 | 1,026 | 4,411 | 5,437 | 1,156 | 4-Mar | ||||||||||||||||||||||
1099 | Milton | MA | — | 2,838 | 3,979 | 6,606 | 2,838 | 10,585 | 13,423 | 2,167 | 2-Nov | ||||||||||||||||||||||
1554 | North Andover | MA | — | 773 | 4,120 | — | 773 | 4,120 | 4,893 | 13 | 13-Nov | ||||||||||||||||||||||
1011 | North Oxford | MA | — | 482 | 1,762 | 462 | 528 | 2,178 | 2,706 | 855 | Oct-99 | ||||||||||||||||||||||
1022 | Northborough | MA | 4,599 | 280 | 2,715 | 512 | 280 | 3,227 | 3,507 | 1,237 | 1-Feb | ||||||||||||||||||||||
1019 | Norwood | MA | 6,729 | 2,160 | 2,336 | 1,704 | 2,221 | 3,979 | 6,200 | 1,304 | Aug-99 | ||||||||||||||||||||||
519 | Plainville | MA | 5,064 | 2,223 | 4,430 | 403 | 2,223 | 4,833 | 7,056 | 1,420 | 5-Jul | ||||||||||||||||||||||
1204 | Quincy | MA | — | 1,359 | 4,078 | 250 | 1,359 | 4,328 | 5,687 | 1,212 | 4-Feb | ||||||||||||||||||||||
1023 | Raynham | MA | — | 588 | 2,270 | 737 | 670 | 2,925 | 3,595 | 1,019 | May-00 | ||||||||||||||||||||||
1135 | Revere | MA | 5,099 | 2,275 | 6,935 | 76 | 2,275 | 7,011 | 9,286 | 381 | 11-Dec | ||||||||||||||||||||||
1094 | Saugus | MA | — | 1,725 | 5,514 | 645 | 1,725 | 6,159 | 7,884 | 1,925 | 3-Jun | ||||||||||||||||||||||
1107 | Somerville | MA | 12,180 | 1,728 | 6,570 | 648 | 1,731 | 7,215 | 8,946 | 2,311 | 1-Jun | ||||||||||||||||||||||
746 | Stoneham | MA | 6,005 | 944 | 5,241 | 170 | 944 | 5,411 | 6,355 | 1,259 | 5-Jul | ||||||||||||||||||||||
1047 | Stoughton | MA | — | 1,754 | 2,769 | 283 | 1,754 | 3,052 | 4,806 | 1,126 | 4-May | ||||||||||||||||||||||
261 | Tyngsboro | MA | 3,523 | 1,843 | 5,004 | 30 | 1,843 | 5,034 | 6,877 | 193 | 12-Jul | ||||||||||||||||||||||
1206 | Waltham | MA | 5,256 | 3,770 | 11,310 | 1,108 | 3,770 | 12,418 | 16,188 | 3,255 | 4-Feb | ||||||||||||||||||||||
7001 | Weymouth | MA | — | 2,806 | 3,129 | 218 | 2,806 | 3,347 | 6,153 | 1,234 | Sep-00 | ||||||||||||||||||||||
1207 | Woburn | MA | — | — | — | 290 | — | 290 | 290 | 138 | 4-Feb | ||||||||||||||||||||||
1003 | Worcester | MA | 4,568 | 896 | 4,377 | 3,159 | 896 | 7,536 | 8,432 | 2,251 | 4-May | ||||||||||||||||||||||
1219 | Worcester | MA | 4,179 | 1,350 | 4,433 | 129 | 1,350 | 4,562 | 5,912 | 870 | 6-Dec | ||||||||||||||||||||||
152 | Annapolis | MD | 6,134 | 1,375 | 8,896 | 310 | 1,375 | 9,206 | 10,581 | 1,642 | 7-Aug | ||||||||||||||||||||||
1381 | Annapolis | MD | 6,575 | 5,248 | 7,247 | 192 | 5,248 | 7,439 | 12,687 | 1,348 | 7-Apr | ||||||||||||||||||||||
919 | Arnold | MD | 9,054 | 2,558 | 9,446 | 417 | 2,558 | 9,863 | 12,421 | 2,272 | 5-Jul | ||||||||||||||||||||||
750 | Baltimore | MD | 4,644 | 1,185 | 5,051 | 130 | 1,185 | 5,181 | 6,366 | 216 | 12-May | ||||||||||||||||||||||
1218 | Baltimore | MD | 3,936 | 1,266 | 10,789 | 65 | 1,266 | 10,854 | 12,120 | 244 | 13-Feb | ||||||||||||||||||||||
1233 | Baltimore | MD | 4,487 | 800 | 5,955 | 110 | 800 | 6,065 | 6,865 | 822 | 8-Nov | ||||||||||||||||||||||
1439 | Baltimore | MD | — | 1,900 | 5,277 | 131 | 1,900 | 5,408 | 7,308 | 501 | 10-Jun | ||||||||||||||||||||||
552 | Bethesda | MD | 12,200 | 3,671 | 18,331 | 427 | 3,671 | 18,758 | 22,429 | 4,779 | 5-Jul | ||||||||||||||||||||||
1453 | Capitol Heights | MD | 8,447 | 1,461 | 9,866 | 201 | 1,461 | 10,067 | 11,528 | 865 | 10-Oct | ||||||||||||||||||||||
757 | Cockeysville | MD | 3,959 | 465 | 5,600 | 200 | 465 | 5,800 | 6,265 | 278 | 12-Mar | ||||||||||||||||||||||
950 | Columbia | MD | 8,006 | 1,736 | 9,632 | 265 | 1,736 | 9,897 | 11,633 | 2,266 | 5-Jul | ||||||||||||||||||||||
1262 | Edgewood | MD | — | 1,000 | — | (575 | ) | 425 | — | 425 | — | ||||||||||||||||||||||
980 | Ft. Washington | MD | 9,232 | 4,920 | 9,174 | 208 | 4,920 | 9,382 | 14,302 | 1,742 | 7-Jan | ||||||||||||||||||||||
258 | Gambrills | MD | 4,926 | 1,905 | 7,104 | 25 | 1,905 | 7,129 | 9,034 | 268 | 12-Jul | ||||||||||||||||||||||
8248 | Glen Burnie | MD | 4,585 | 1,303 | 4,218 | 286 | 1,303 | 4,504 | 5,807 | 320 | 11-Jul | ||||||||||||||||||||||
1500 | Hanover | MD | 7,240 | 2,160 | 11,340 | 68 | 2,160 | 11,408 | 13,568 | 159 | 13-Jun | ||||||||||||||||||||||
1195 | Lanham | MD | 12,477 | 3,346 | 10,079 | 583 | 2,618 | 11,390 | 14,008 | 3,098 | 4-Feb | ||||||||||||||||||||||
1292 | Laurel Heights | MD | 6,104 | 3,000 | 5,930 | 87 | 3,000 | 6,017 | 9,017 | 978 | 7-Dec | ||||||||||||||||||||||
512 | Lexington Park | MD | — | 4,314 | 8,412 | 81 | 4,314 | 8,493 | 12,807 | 227 | 12-Dec | ||||||||||||||||||||||
918 | Pasadena | MD | 3,810 | 1,869 | 3,056 | 701 | 1,869 | 3,757 | 5,626 | 701 | 8-Sep | ||||||||||||||||||||||
1287 | Pasadena | MD | — | 3,500 | 7,407 | 128 | 3,500 | 7,535 | 11,035 | 501 | 11-Mar | ||||||||||||||||||||||
8211 | Randallstown | MD | 4,645 | 764 | 6,331 | 207 | 764 | 6,538 | 7,302 | 420 | 11-Aug | ||||||||||||||||||||||
380 | Rockville | MD | 12,348 | 4,596 | 11,328 | 308 | 4,596 | 11,636 | 16,232 | 2,249 | 6-Sep | ||||||||||||||||||||||
507 | Towson | MD | 3,908 | 861 | 4,742 | 211 | 861 | 4,953 | 5,814 | 1,187 | 5-Jul | ||||||||||||||||||||||
588 | Towson | MD | 6,231 | 1,094 | 9,598 | 45 | 1,094 | 9,643 | 10,737 | 363 | 12-Jul | ||||||||||||||||||||||
553 | Belleville | MI | 4,030 | 954 | 4,984 | 56 | 954 | 5,040 | 5,994 | 189 | 12-Jul | ||||||||||||||||||||||
309 | Grandville | MI | 1,620 | 726 | 1,298 | 396 | 726 | 1,694 | 2,420 | 503 | 5-Jul | ||||||||||||||||||||||
556 | Mount Clemens | MI | 2,002 | 798 | 1,796 | 439 | 798 | 2,235 | 3,033 | 569 | 5-Jul | ||||||||||||||||||||||
664 | Florissant | MO | 3,509 | 1,241 | 4,648 | 326 | 1,241 | 4,974 | 6,215 | 981 | 7-Aug | ||||||||||||||||||||||
985 | Grandview | MO | 1,048 | 612 | 1,770 | 387 | 612 | 2,157 | 2,769 | 635 | 5-Jul | ||||||||||||||||||||||
656 | St. Louis | MO | — | 1,444 | 4,162 | 339 | 1,444 | 4,501 | 5,945 | 874 | 7-Aug | ||||||||||||||||||||||
663 | St. Louis | MO | 2,720 | 676 | 3,551 | 304 | 676 | 3,855 | 4,531 | 765 | 7-Aug | ||||||||||||||||||||||
1061 | St. Louis | MO | 2,677 | 631 | 2,159 | 616 | 690 | 2,716 | 3,406 | 1,010 | Jun-00 | ||||||||||||||||||||||
1062 | St. Louis | MO | 2,647 | 156 | 1,313 | 617 | 173 | 1,913 | 2,086 | 765 | Jun-00 | ||||||||||||||||||||||
8277 | Cary | NC | — | 3,614 | 1,788 | 1 | 3,614 | 1,789 | 5,403 | 10 | 13-Oct | ||||||||||||||||||||||
8027 | Merrimack | NH | 3,887 | 754 | 3,299 | 599 | 817 | 3,835 | 4,652 | 1,168 | Apr-99 | ||||||||||||||||||||||
738 | Nashua | NH | — | — | 755 | 101 | — | 856 | 856 | 286 | 5-Jul | ||||||||||||||||||||||
1329 | Avenel | NJ | 7,739 | 1,518 | 8,037 | 331 | 1,518 | 8,368 | 9,886 | 2,043 | 5-Jan | ||||||||||||||||||||||
1330 | Bayville | NJ | 3,842 | 1,193 | 5,312 | 340 | 1,193 | 5,652 | 6,845 | 1,424 | 4-Dec | ||||||||||||||||||||||
1408 | Bellmawr | NJ | — | 3,600 | 4,765 | 265 | 3,675 | 4,955 | 8,630 | 617 | 8-Sep | ||||||||||||||||||||||
8342 | Berkeley Heights | NJ | — | 1,598 | 7,553 | 73 | 1,598 | 7,626 | 9,224 | 291 | 12-Jul | ||||||||||||||||||||||
818 | Cherry Hill | NJ | — | 2,323 | 1,549 | 106 | 2,323 | 1,655 | 3,978 | 52 | 12-Nov | ||||||||||||||||||||||
1519 | Cranbury | NJ | — | 3,543 | 5,095 | 181 | 3,543 | 5,276 | 8,819 | 152 | 12-Nov | ||||||||||||||||||||||
1115 | Edison | NJ | — | 2,519 | 8,547 | 717 | 2,519 | 9,264 | 11,783 | 2,973 | 1-Dec | ||||||||||||||||||||||
1116 | Egg Harbor Twp. | NJ | 4,197 | 1,724 | 5,001 | 714 | 1,724 | 5,715 | 7,439 | 1,954 | 1-Dec | ||||||||||||||||||||||
1258 | Ewing | NJ | — | 1,552 | 4,720 | (83 | ) | 1,563 | 4,626 | 6,189 | 864 | 7-Mar | |||||||||||||||||||||
8343 | Fairfield | NJ | — | — | 9,402 | 78 | — | 9,480 | 9,480 | 359 | 12-Jul | ||||||||||||||||||||||
1516 | Fort Lee | NJ | — | 4,402 | 9,831 | 208 | 4,402 | 10,039 | 14,441 | 286 | 12-Nov | ||||||||||||||||||||||
1038 | Glen Rock | NJ | — | 1,109 | 2,401 | 551 | 1,222 | 2,839 | 4,061 | 880 | 1-Mar | ||||||||||||||||||||||
330 | Hackensack | NJ | — | 2,283 | 11,234 | 839 | 2,283 | 12,073 | 14,356 | 2,947 | 5-Jul | ||||||||||||||||||||||
8346 | Hackettstown | NJ | — | 2,144 | 6,660 | 39 | 2,144 | 6,699 | 8,843 | 238 | 12-Aug | ||||||||||||||||||||||
332 | Harrison | NJ | 3,654 | 300 | 6,003 | 168 | 300 | 6,171 | 6,471 | 233 | 12-Jul | ||||||||||||||||||||||
1117 | Hazlet | NJ | 7,813 | 1,362 | 10,262 | 598 | 1,362 | 10,860 | 12,222 | 3,470 | 1-Dec | ||||||||||||||||||||||
1039 | Hoboken | NJ | 7,981 | 2,687 | 6,092 | 254 | 2,687 | 6,346 | 9,033 | 1,940 | 2-Jul | ||||||||||||||||||||||
1118 | Howell | NJ | 3,361 | 2,440 | 3,407 | 423 | 2,440 | 3,830 | 6,270 | 1,308 | 1-Dec | ||||||||||||||||||||||
1120 | Iselin | NJ | 4,832 | 505 | 4,524 | 532 | 505 | 5,056 | 5,561 | 1,728 | 1-Dec | ||||||||||||||||||||||
821 | Lawnside | NJ | — | 1,249 | 5,613 | 110 | 1,249 | 5,723 | 6,972 | 169 | 12-Nov | ||||||||||||||||||||||
1196 | Lawrenceville | NJ | 5,575 | 3,402 | 10,230 | 494 | 3,402 | 10,724 | 14,126 | 2,866 | 4-Feb | ||||||||||||||||||||||
739 | Linden | NJ | 3,786 | 1,517 | 8,384 | 248 | 1,517 | 8,632 | 10,149 | 1,957 | 5-Jul | ||||||||||||||||||||||
1328 | Lumberton | NJ | 4,198 | 831 | 4,060 | 222 | 831 | 4,282 | 5,113 | 1,136 | 4-Dec | ||||||||||||||||||||||
1040 | Lyndhurst | NJ | — | 2,679 | 4,644 | 1,014 | 2,929 | 5,408 | 8,337 | 1,650 | 1-Mar | ||||||||||||||||||||||
8347 | Mahwah | NJ | — | 1,890 | 13,112 | 200 | 1,890 | 13,312 | 15,202 | 475 | 12-Aug | ||||||||||||||||||||||
8093 | Maple Shade | NJ | 4,276 | 1,093 | 5,492 | 85 | 1,093 | 5,577 | 6,670 | 306 | 11-Dec | ||||||||||||||||||||||
784 | Merchantville | NJ | 3,757 | 1,644 | 3,115 | 200 | 1,644 | 3,315 | 4,959 | 254 | 11-Jun | ||||||||||||||||||||||
1054 | Metuchen | NJ | 5,830 | 1,153 | 4,462 | 276 | 1,153 | 4,738 | 5,891 | 1,515 | 1-Dec | ||||||||||||||||||||||
1428 | Monmouth Junction | NJ | 3,052 | 1,700 | 5,835 | 122 | 1,700 | 5,957 | 7,657 | 609 | 9-Dec | ||||||||||||||||||||||
8348 | Montville | NJ | 8,209 | 1,511 | 11,749 | 44 | 1,511 | 11,793 | 13,304 | 418 | 12-Aug | ||||||||||||||||||||||
1197 | Morrisville | NJ | — | 2,487 | 7,494 | 1,214 | 2,487 | 8,708 | 11,195 | 2,352 | 4-Feb | ||||||||||||||||||||||
381 | Mt Laurel | NJ | 3,099 | 329 | 5,217 | 72 | 329 | 5,289 | 5,618 | 206 | 12-Jul | ||||||||||||||||||||||
1360 | Neptune | NJ | 7,445 | 4,204 | 8,906 | 316 | 4,204 | 9,222 | 13,426 | 1,763 | 6-Nov | ||||||||||||||||||||||
8344 | Newark | NJ | — | 806 | 8,340 | 91 | 806 | 8,431 | 9,237 | 320 | 12-Jul | ||||||||||||||||||||||
677 | North Bergen | NJ | — | 861 | 17,127 | 133 | 861 | 17,260 | 18,121 | 983 | 11-Oct | ||||||||||||||||||||||
809 | North Bergen | NJ | 10,318 | 2,299 | 12,728 | 432 | 2,299 | 13,160 | 15,459 | 2,997 | 5-Jul | ||||||||||||||||||||||
1089 | North Bergen | NJ | 9,411 | 2,100 | 6,606 | 355 | 2,100 | 6,961 | 9,061 | 2,032 | 3-Jul | ||||||||||||||||||||||
8345 | North Brunswick | NJ | — | 2,789 | 4,404 | 95 | 2,789 | 4,499 | 7,288 | 177 | 12-Jul | ||||||||||||||||||||||
1119 | Old Bridge | NJ | 5,685 | 2,758 | 6,450 | 990 | 2,758 | 7,440 | 10,198 | 2,455 | 1-Dec | ||||||||||||||||||||||
810 | Parlin | NJ | — | 2,517 | 4,516 | 480 | 2,517 | 4,996 | 7,513 | 1,390 | 5-Jul | ||||||||||||||||||||||
1032 | Parlin | NJ | — | — | 5,273 | 398 | — | 5,671 | 5,671 | 2,105 | 4-May | ||||||||||||||||||||||
8341 | Parsippany | NJ | — | 2,353 | 7,798 | 103 | 2,353 | 7,901 | 10,254 | 306 | 12-Jul | ||||||||||||||||||||||
655 | Toms River | NJ | 4,992 | 1,790 | 9,935 | 341 | 1,790 | 10,276 | 12,066 | 2,480 | 5-Jul | ||||||||||||||||||||||
1331 | Union | NJ | 6,605 | 1,754 | 6,237 | 372 | 1,754 | 6,609 | 8,363 | 1,682 | 4-Dec | ||||||||||||||||||||||
1517 | Union | NJ | — | 1,133 | 7,239 | 74 | 1,133 | 7,313 | 8,446 | 211 | 12-Nov | ||||||||||||||||||||||
1518 | Watchung | NJ | — | 1,843 | 4,499 | 113 | 1,843 | 4,612 | 6,455 | 133 | 12-Nov | ||||||||||||||||||||||
547 | Albuquerque | NM | 4,775 | 1,298 | 4,628 | 625 | 1,298 | 5,253 | 6,551 | 999 | 7-Aug | ||||||||||||||||||||||
817 | Albuquerque | NM | 1,949 | 755 | 1,797 | 27 | 755 | 1,824 | 2,579 | 54 | 12-Nov | ||||||||||||||||||||||
485 | Santa Fe | NM | 5,905 | 3,066 | 7,366 | 302 | 3,066 | 7,668 | 10,734 | 292 | 12-Jul | ||||||||||||||||||||||
830 | Henderson | NV | — | 2,934 | 8,897 | 80 | 2,934 | 8,977 | 11,911 | 260 | 12-Nov | ||||||||||||||||||||||
816 | Las Vegas | NV | — | 400 | 4,936 | 49 | 400 | 4,985 | 5,385 | 147 | 12-Nov | ||||||||||||||||||||||
820 | Las Vegas | NV | 4,512 | 773 | 6,006 | 67 | 773 | 6,073 | 6,846 | 179 | 12-Nov | ||||||||||||||||||||||
1058 | Las Vegas | NV | 1,194 | 251 | 717 | 517 | 278 | 1,207 | 1,485 | 520 | Feb-00 | ||||||||||||||||||||||
1465 | Las Vegas | NV | 2,462 | 1,441 | 1,810 | 105 | 1,441 | 1,915 | 3,356 | 141 | 11-Jun | ||||||||||||||||||||||
850 | Las Vegas | NV | 3,717 | 628 | 4,005 | (453 | ) | 279 | 3,901 | 4,180 | 429 | 13-Nov | |||||||||||||||||||||
409 | Amsterdam | NY | — | 715 | 241 | (956 | ) | (a) | — | — | — | — | 12-Jul | ||||||||||||||||||||
1391 | Bohemia | NY | 1,470 | 1,456 | 1,398 | 351 | 1,456 | 1,749 | 3,205 | 330 | 7-Dec | ||||||||||||||||||||||
1042 | Bronx | NY | 18,369 | 3,450 | 21,210 | 347 | 3,450 | 21,557 | 25,007 | 1,142 | 11-Dec | ||||||||||||||||||||||
1213 | Bronx | NY | 9,548 | 3,995 | 11,870 | 781 | 3,995 | 12,651 | 16,646 | 3,234 | 4-Aug | ||||||||||||||||||||||
727 | Brooklyn | NY | — | 16,188 | 23,309 | 297 | 16,257 | 23,537 | 39,794 | 892 | 12-Jul | ||||||||||||||||||||||
1399 | Brooklyn | NY | 20,074 | 12,993 | 10,405 | 306 | 12,993 | 10,711 | 23,704 | 1,492 | 8-Oct | ||||||||||||||||||||||
1450 | Brooklyn | NY | 8,160 | 2,802 | 6,536 | 204 | 2,802 | 6,740 | 9,542 | 660 | 10-May | ||||||||||||||||||||||
1398 | Centereach | NY | 4,191 | 2,226 | 1,657 | 192 | 2,226 | 1,849 | 4,075 | 286 | 8-Oct | ||||||||||||||||||||||
8349 | Central Valley | NY | — | 2,800 | 12,173 | 380 | 2,800 | 12,553 | 15,353 | 446 | 12-Aug | ||||||||||||||||||||||
1451 | Freeport | NY | 5,253 | 5,676 | 3,784 | 745 | 5,676 | 4,529 | 10,205 | 421 | 10-Nov | ||||||||||||||||||||||
674 | Hauppauge | NY | 5,676 | 1,238 | 7,095 | 336 | 1,238 | 7,431 | 8,669 | 284 | 12-Jul | ||||||||||||||||||||||
630 | Hicksville | NY | 8,939 | 2,581 | 10,677 | 29 | 2,581 | 10,706 | 13,287 | 402 | 12-Jul | ||||||||||||||||||||||
405 | Kingston | NY | 4,959 | 837 | 6,199 | 15 | 837 | 6,214 | 7,051 | 234 | 12-Jul | ||||||||||||||||||||||
502 | Mount Vernon | NY | — | 1,585 | 6,025 | 2,389 | 1,585 | 8,414 | 9,999 | 1,898 | 5-Jul | ||||||||||||||||||||||
1087 | Mount Vernon | NY | 8,401 | 1,926 | 7,622 | 783 | 1,926 | 8,405 | 10,331 | 2,474 | 2-Nov | ||||||||||||||||||||||
1055 | Nanuet | NY | 3,688 | 2,072 | 4,644 | 1,724 | 2,739 | 5,701 | 8,440 | 1,767 | 2-Feb | ||||||||||||||||||||||
406 | New Paltz | NY | 4,564 | 2,059 | 3,715 | 410 | 2,059 | 4,125 | 6,184 | 1,096 | 5-Jul | ||||||||||||||||||||||
539 | New York | NY | 19,326 | 3,060 | 16,978 | 696 | 3,060 | 17,674 | 20,734 | 4,095 | 5-Jul | ||||||||||||||||||||||
1050 | Plainview | NY | 7,692 | 4,287 | 3,710 | 661 | 4,287 | 4,371 | 8,658 | 1,599 | Dec-00 | ||||||||||||||||||||||
8350 | Poughkeepsie | NY | — | 1,038 | 7,862 | 71 | 1,038 | 7,933 | 8,971 | 303 | 12-Jul | ||||||||||||||||||||||
470 | Ridge | NY | 6,264 | 1,762 | 6,934 | 16 | 1,762 | 6,950 | 8,712 | 261 | 12-Jul | ||||||||||||||||||||||
1501 | Cincinnati | OH | — | 2,941 | 2,177 | 195 | 2,941 | 2,372 | 5,313 | 195 | 11-Jun | ||||||||||||||||||||||
1502 | Cincinnati | OH | 4,638 | 1,815 | 5,733 | 219 | 1,815 | 5,952 | 7,767 | 435 | 11-Jun | ||||||||||||||||||||||
1503 | Cincinnati | OH | — | 1,445 | 3,755 | 185 | 1,445 | 3,940 | 5,385 | 292 | 11-Jun | ||||||||||||||||||||||
1504 | Cincinnati | OH | — | 1,217 | 1,941 | 109 | 1,217 | 2,050 | 3,267 | 151 | 11-Jun | ||||||||||||||||||||||
438 | Columbus | OH | 2,764 | 483 | 2,654 | 568 | 483 | 3,222 | 3,705 | 940 | 5-Jul | ||||||||||||||||||||||
522 | Columbus | OH | 1,430 | 657 | 2,025 | 13 | 727 | 1,968 | 2,695 | 163 | 13-Nov | ||||||||||||||||||||||
525 | Columbus | OH | 3,622 | 924 | 5,113 | 247 | 1,227 | 5,057 | 6,284 | 495 | 13-Nov | ||||||||||||||||||||||
1548 | Fairfield | OH | — | 904 | 3,856 | 7 | 904 | 3,863 | 4,767 | 12 | 13-Nov | ||||||||||||||||||||||
1511 | Greenville | OH | — | 189 | 302 | 72 | 189 | 374 | 563 | 32 | 11-Jun | ||||||||||||||||||||||
1505 | Hamilton | OH | — | 673 | 2,910 | 96 | 673 | 3,006 | 3,679 | 211 | 11-Jun | ||||||||||||||||||||||
829 | Hilliard | OH | 2,110 | 1,613 | 2,369 | 208 | 1,613 | 2,577 | 4,190 | 82 | 12-Nov | ||||||||||||||||||||||
365 | Kent | OH | 1,430 | 220 | 1,206 | 222 | 220 | 1,428 | 1,648 | 424 | 5-Jul | ||||||||||||||||||||||
1506 | Lebanon | OH | — | 1,657 | 1,566 | 301 | 1,657 | 1,867 | 3,524 | 137 | 11-Jun | ||||||||||||||||||||||
368 | Mentor | OH | 1,343 | 409 | 1,609 | 97 | 409 | 1,706 | 2,115 | 71 | 12-Jul | ||||||||||||||||||||||
826 | Mentor | OH | 1,280 | 658 | 1,267 | 174 | 658 | 1,441 | 2,099 | 44 | 12-Nov | ||||||||||||||||||||||
1507 | Middletown | OH | 1,310 | 534 | 1,047 | 93 | 534 | 1,140 | 1,674 | 88 | 11-Jun | ||||||||||||||||||||||
1509 | Sidney | OH | — | 201 | 262 | 63 | 201 | 325 | 526 | 33 | 11-Jun | ||||||||||||||||||||||
1510 | Troy | OH | — | 273 | 544 | 115 | 273 | 659 | 932 | 57 | 11-Jun | ||||||||||||||||||||||
1512 | Washington Court House | OH | — | 197 | 499 | 61 | 197 | 560 | 757 | 47 | 11-Jun | ||||||||||||||||||||||
367 | Willoughby | OH | 1,108 | 155 | 1,811 | 34 | 155 | 1,845 | 2,000 | 69 | 12-Jul | ||||||||||||||||||||||
1508 | Xenia | OH | 1,655 | 302 | 1,022 | 60 | 302 | 1,082 | 1,384 | 84 | 11-Jun | ||||||||||||||||||||||
288 | Aloha | OR | 6,207 | 1,221 | 6,262 | 265 | 1,221 | 6,527 | 7,748 | 1,561 | 5-Jul | ||||||||||||||||||||||
286 | Beaverton | OR | 4,730 | 2,014 | 5,786 | 46 | 2,014 | 5,832 | 7,846 | 223 | 12-Jul | ||||||||||||||||||||||
1294 | King City | OR | 3,081 | 2,520 | 6,845 | 45 | 2,520 | 6,890 | 9,410 | 720 | 9-Sep | ||||||||||||||||||||||
1332 | Bensalem | PA | 3,329 | 1,131 | 4,525 | 288 | 1,131 | 4,813 | 5,944 | 1,237 | 4-Dec | ||||||||||||||||||||||
1354 | Bensalem | PA | — | 750 | 3,015 | 180 | 750 | 3,195 | 3,945 | 708 | 6-Mar | ||||||||||||||||||||||
1036 | Doylestown | PA | — | 220 | 3,442 | 1,055 | 521 | 4,196 | 4,717 | 1,325 | Nov-99 | ||||||||||||||||||||||
1046 | Kennedy Township | PA | 2,591 | 736 | 3,173 | 188 | 736 | 3,361 | 4,097 | 1,234 | 4-May | ||||||||||||||||||||||
1198 | Philadelphia | PA | 5,646 | 1,965 | 5,925 | 1,083 | 1,965 | 7,008 | 8,973 | 1,928 | 4-Feb | ||||||||||||||||||||||
542 | Philadelphia | PA | 8,578 | 3,000 | 7,909 | 59 | 596 | 10,372 | 10,968 | 543 | 13-Nov | ||||||||||||||||||||||
1045 | Pittsburgh | PA | 3,822 | 889 | 4,117 | 559 | 889 | 4,676 | 5,565 | 1,675 | 4-May | ||||||||||||||||||||||
1063 | Pittsburgh | PA | 2,591 | 991 | 1,990 | 885 | 1,082 | 2,784 | 3,866 | 954 | Aug-00 | ||||||||||||||||||||||
1048 | Willow Grove | PA | 5,182 | 1,297 | 4,027 | 212 | 1,297 | 4,239 | 5,536 | 361 | 11-Jan | ||||||||||||||||||||||
741 | Johnston | RI | 6,767 | 2,658 | 4,799 | 462 | 2,658 | 5,261 | 7,919 | 1,339 | 5-Jul | ||||||||||||||||||||||
1150 | Johnston | RI | 1,932 | 533 | 2,127 | 47 | 533 | 2,174 | 2,707 | 118 | 11-Dec | ||||||||||||||||||||||
1303 | Charleston | SC | 3,521 | 1,279 | 4,171 | 213 | 1,279 | 4,384 | 5,663 | 1,109 | 4-Aug | ||||||||||||||||||||||
1305 | Columbia | SC | 2,821 | 838 | 3,312 | 251 | 838 | 3,563 | 4,401 | 944 | 4-Aug | ||||||||||||||||||||||
8174 | Columbia | SC | 3,310 | 1,784 | 2,745 | 59 | 1,784 | 2,804 | 4,588 | 105 | 12-Jul | ||||||||||||||||||||||
1311 | Goose Creek | SC | — | 1,683 | 4,372 | 1,020 | 1,683 | 5,392 | 7,075 | 1,274 | 4-Aug | ||||||||||||||||||||||
1323 | Summerville | SC | — | 450 | 4,454 | 179 | 450 | 4,633 | 5,083 | 1,178 | 4-Aug | ||||||||||||||||||||||
578 | Bartlett | TN | 2,512 | 632 | 3,798 | 35 | 632 | 3,833 | 4,465 | 144 | 12-Jul | ||||||||||||||||||||||
487 | Cordova | TN | 6,576 | 2,627 | 9,786 | 432 | 8,187 | 4,658 | 12,845 | 788 | 13-Nov | ||||||||||||||||||||||
506 | Cordova | TN | 2,573 | 852 | 2,720 | 258 | 852 | 2,978 | 3,830 | 786 | 5-Jul | ||||||||||||||||||||||
704 | Cordova | TN | — | 894 | 2,680 | 151 | 894 | 2,831 | 3,725 | 555 | 7-Jan | ||||||||||||||||||||||
8122 | Cordova | TN | 2,057 | 652 | 1,791 | 72 | 652 | 1,863 | 2,515 | 142 | 11-Apr | ||||||||||||||||||||||
823 | Franklin | TN | — | 3,357 | 8,984 | 143 | 3,357 | 9,127 | 12,484 | 267 | 12-Nov | ||||||||||||||||||||||
198 | Memphis | TN | 2,002 | 1,255 | 2,909 | 77 | 1,313 | 2,928 | 4,241 | 255 | 13-Nov | ||||||||||||||||||||||
252 | Memphis | TN | 2,955 | 1,154 | 4,217 | 119 | 803 | 4,687 | 5,490 | 313 | 13-Nov | ||||||||||||||||||||||
374 | Memphis | TN | 1,041 | 110 | 1,280 | 19 | 110 | 1,299 | 1,409 | 49 | 12-Jul | ||||||||||||||||||||||
680 | Memphis | TN | 1,713 | 274 | 2,623 | 21 | 274 | 2,644 | 2,918 | 101 | 12-Jul | ||||||||||||||||||||||
811 | Memphis | TN | 3,538 | 1,040 | 3,867 | 113 | 1,040 | 3,980 | 5,020 | 116 | 12-Nov | ||||||||||||||||||||||
813 | Memphis | TN | 2,629 | 1,617 | 2,875 | 87 | 1,617 | 2,962 | 4,579 | 85 | 12-Nov | ||||||||||||||||||||||
574 | Nashville | TN | 2,892 | 390 | 2,598 | 690 | 390 | 3,288 | 3,678 | 941 | 6-Apr | ||||||||||||||||||||||
1363 | Allen | TX | 4,605 | 901 | 5,553 | 214 | 901 | 5,767 | 6,668 | 1,127 | 6-Nov | ||||||||||||||||||||||
1301 | Arlington | TX | 2,206 | 534 | 2,525 | 403 | 534 | 2,928 | 3,462 | 844 | 4-Aug | ||||||||||||||||||||||
472 | Austin | TX | 2,287 | 2,790 | 4,991 | 134 | 3,411 | 4,504 | 7,915 | 360 | 13-Nov | ||||||||||||||||||||||
1302 | Austin | TX | 5,169 | 870 | 4,455 | 327 | 870 | 4,782 | 5,652 | 1,259 | 4-Aug | ||||||||||||||||||||||
476 | Dallas | TX | 4,194 | 5,061 | 8,224 | 223 | 7,143 | 6,365 | 13,508 | 644 | 13-Nov | ||||||||||||||||||||||
514 | Dallas | TX | 11,432 | 1,980 | 12,501 | 344 | 1,980 | 12,845 | 14,825 | 2,642 | 6-May | ||||||||||||||||||||||
561 | Dallas | TX | 2,032 | 337 | 2,216 | 483 | 337 | 2,699 | 3,036 | 729 | 6-Apr | ||||||||||||||||||||||
629 | Dallas | TX | 5,306 | 921 | 7,656 | 64 | 921 | 7,720 | 8,641 | 289 | 12-Jul | ||||||||||||||||||||||
1307 | Dallas | TX | 10,770 | 4,432 | 6,181 | 1,115 | 4,432 | 7,296 | 11,728 | 1,768 | 4-Aug | ||||||||||||||||||||||
1497 | Dallas | TX | 3,926 | 2,542 | 3,274 | 196 | 2,542 | 3,470 | 6,012 | 131 | 12-Aug | ||||||||||||||||||||||
795 | Euless | TX | 2,915 | 671 | 3,213 | 624 | 671 | 3,837 | 4,508 | 331 | 11-Apr | ||||||||||||||||||||||
8081 | Euless | TX | — | 1,374 | 5,636 | 61 | 1,374 | 5,697 | 7,071 | 92 | 13-May | ||||||||||||||||||||||
1309 | Fort Worth | TX | 4,775 | 631 | 5,794 | 272 | 631 | 6,066 | 6,697 | 1,551 | 4-Aug | ||||||||||||||||||||||
1551 | Fort Worth | TX | — | 3,158 | 2,512 | 5 | 3,158 | 2,517 | 5,675 | 8 | 13-Nov | ||||||||||||||||||||||
1559 | Fort Worth | TX | — | 2,033 | 2,495 | — | 2,033 | 2,495 | 4,528 | 3 | 13-Dec | ||||||||||||||||||||||
1549 | Garland | TX | — | 1,424 | 2,209 | — | 1,424 | 2,209 | 3,633 | 7 | 13-Nov | ||||||||||||||||||||||
1312 | Grand Prairie | TX | 2,391 | 551 | 2,330 | 310 | 551 | 2,640 | 3,191 | 697 | 4-Aug | ||||||||||||||||||||||
1496 | Grand Prairie | TX | — | 2,327 | 1,551 | 161 | 2,327 | 1,712 | 4,039 | 65 | 12-Aug | ||||||||||||||||||||||
466 | Houston | TX | 3,241 | 1,828 | 4,196 | 181 | 2,017 | 4,188 | 6,205 | 394 | 13-Nov | ||||||||||||||||||||||
584 | Houston | TX | 8,874 | 2,596 | 8,735 | 397 | 2,596 | 9,132 | 11,728 | 1,874 | 6-Apr | ||||||||||||||||||||||
1457 | Houston | TX | — | 402 | 1,870 | 181 | 402 | 2,051 | 2,453 | 182 | 10-Dec | ||||||||||||||||||||||
1490 | Houston | TX | 6,001 | 1,036 | 8,133 | 84 | 1,036 | 8,217 | 9,253 | 405 | 12-Feb | ||||||||||||||||||||||
1550 | Killeen | TX | — | 1,207 | 1,688 | — | 1,207 | 1,688 | 2,895 | 5 | 13-Nov | ||||||||||||||||||||||
1456 | La Porte | TX | — | 1,608 | 2,351 | 273 | 1,608 | 2,624 | 4,232 | 254 | 10-Dec | ||||||||||||||||||||||
473 | Plano | TX | 3,145 | 2,259 | 4,780 | 70 | 2,752 | 4,357 | 7,109 | 417 | 13-Nov | ||||||||||||||||||||||
1364 | Plano | TX | 5,271 | 1,010 | 6,203 | 335 | 1,010 | 6,538 | 7,548 | 1,257 | 6-Nov | ||||||||||||||||||||||
1365 | Plano | TX | 4,580 | 614 | 3,775 | 258 | 614 | 4,033 | 4,647 | 810 | 6-Nov | ||||||||||||||||||||||
1357 | Rowlett | TX | 2,185 | 1,002 | 2,601 | 342 | 1,002 | 2,943 | 3,945 | 639 | 6-Aug | ||||||||||||||||||||||
1306 | San Antonio | TX | 2,569 | 1,269 | 1,816 | 603 | 1,269 | 2,419 | 3,688 | 727 | 4-Aug | ||||||||||||||||||||||
1326 | San Antonio | TX | 2,511 | 253 | 1,496 | 159 | 253 | 1,655 | 1,908 | 458 | 4-Aug | ||||||||||||||||||||||
1387 | San Antonio | TX | — | 2,471 | 3,556 | (194 | ) | 2,471 | 3,362 | 5,833 | 597 | 7-Dec | |||||||||||||||||||||
521 | South Houston | TX | 3,331 | 478 | 4,069 | 772 | 478 | 4,841 | 5,319 | 1,105 | 6-Apr | ||||||||||||||||||||||
306 | Spring | TX | 3,310 | 506 | 5,096 | 117 | 506 | 5,213 | 5,719 | 203 | 12-Jul | ||||||||||||||||||||||
8246 | Spring | TX | 1,943 | 978 | 1,347 | 158 | 978 | 1,505 | 2,483 | 99 | 11-Aug | ||||||||||||||||||||||
1006 | Kearns | UT | — | 642 | 2,607 | 346 | 642 | 2,953 | 3,595 | 810 | 4-Jun | ||||||||||||||||||||||
1454 | Murray | UT | — | 571 | 986 | 2,081 | 571 | 3,067 | 3,638 | 182 | 10-Nov | ||||||||||||||||||||||
792 | Orem | UT | 2,099 | 841 | 2,335 | 172 | 841 | 2,507 | 3,348 | 183 | 11-Apr | ||||||||||||||||||||||
8002 | Salt Lake City | UT | 3,052 | 986 | 3,455 | 162 | 986 | 3,617 | 4,603 | 314 | 10-Oct | ||||||||||||||||||||||
132 | Sandy | UT | 5,583 | 1,349 | 4,372 | 450 | 1,349 | 4,822 | 6,171 | 1,158 | 5-Jul | ||||||||||||||||||||||
8149 | Sandy | UT | — | 2,063 | 5,202 | 7 | 2,063 | 5,209 | 7,272 | 173 | 12-Sep | ||||||||||||||||||||||
1455 | West Jordan | UT | 2,123 | 735 | 2,146 | 347 | 735 | 2,493 | 3,228 | 218 | 10-Nov | ||||||||||||||||||||||
230 | West Valley City | UT | 2,845 | 461 | 1,722 | 163 | 461 | 1,885 | 2,346 | 482 | 5-Jul | ||||||||||||||||||||||
467 | Alexandria | VA | 13,563 | 5,029 | 18,943 | 44 | 5,029 | 18,987 | 24,016 | 713 | 12-Jul | ||||||||||||||||||||||
1380 | Alexandria | VA | 5,698 | 1,620 | 13,103 | 567 | 1,623 | 13,667 | 15,290 | 2,650 | 7-Jun | ||||||||||||||||||||||
1452 | Arlington | VA | — | — | 4,802 | 144 | — | 4,946 | 4,946 | 1,339 | 10-Oct | ||||||||||||||||||||||
707 | Burke | VA | 4,861 | 4,520 | 13,916 | 445 | 11,534 | 7,347 | 18,881 | 890 | 13-Nov | ||||||||||||||||||||||
717 | Dumfries | VA | 5,264 | 932 | 9,349 | 157 | 932 | 9,506 | 10,438 | 667 | 11-May | ||||||||||||||||||||||
678 | Falls Church | VA | 5,909 | 1,259 | 6,975 | 397 | 1,259 | 7,372 | 8,631 | 1,747 | 5-Jul | ||||||||||||||||||||||
828 | Falls Church | VA | — | 5,703 | 13,307 | 112 | 5,703 | 13,419 | 19,122 | 388 | 12-Nov | ||||||||||||||||||||||
327 | Fredericksburg | VA | 4,339 | 2,128 | 5,398 | 47 | 2,128 | 5,445 | 7,573 | 204 | 12-Jul | ||||||||||||||||||||||
824 | Fredericksburg | VA | — | 1,438 | 2,459 | 115 | 1,438 | 2,574 | 4,012 | 75 | 12-Nov | ||||||||||||||||||||||
1325 | Richmond | VA | 4,582 | 2,305 | 5,467 | 315 | 2,305 | 5,782 | 8,087 | 1,409 | 4-Aug | ||||||||||||||||||||||
764 | Stafford | VA | 4,437 | 2,076 | 5,175 | 77 | 2,076 | 5,252 | 7,328 | 688 | 9-Jan | ||||||||||||||||||||||
1498 | Stafford | VA | 4,445 | 1,172 | 5,562 | 110 | 1,172 | 5,672 | 6,844 | 192 | 12-Sep | ||||||||||||||||||||||
1341 | Lakewood | WA | 4,474 | 1,917 | 5,256 | 199 | 1,917 | 5,455 | 7,372 | 1,159 | 6-Feb | ||||||||||||||||||||||
1342 | Lakewood | WA | 4,471 | 1,389 | 4,780 | 290 | 1,389 | 5,070 | 6,459 | 1,083 | 6-Feb | ||||||||||||||||||||||
643 | Seattle | WA | 7,379 | 2,727 | 7,241 | 224 | 2,727 | 7,465 | 10,192 | 1,737 | 5-Jul | ||||||||||||||||||||||
1343 | Tacoma | WA | 3,502 | 1,031 | 3,103 | 143 | 1,031 | 3,246 | 4,277 | 721 | 6-Feb | ||||||||||||||||||||||
285 | Vancouver | WA | 3,132 | 709 | 4,280 | 55 | 709 | 4,335 | 5,044 | 164 | 12-Jul | ||||||||||||||||||||||
Other corporate assets | (3,936 | ) | 849 | 2,202 | 64,023 | — | 67,074 | 67,074 | 8,728 | Various | |||||||||||||||||||||||
Construction in progress | — | — | — | 6,651 | — | 6,651 | 6,651 | — | |||||||||||||||||||||||||
Intangible tenant relationships and lease rights | — | — | 60,011 | 14,498 | — | 74,509 | 74,509 | 60,330 | Various | ||||||||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$ | 1,588,596 | $ | 1,000,356 | $ | 2,894,399 | $ | 238,543 | $ | 1,019,921 | $ | 3,113,377 | $ | 4,133,298 | $ | 496,754 | ||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) Adjustments relate to sale of property | |||||||||||||||||||||||||||||||||
Activity in real estate facilities during the years ended December 31, 2013, 2012 and 2011 is as follows: | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
Operating facilities | |||||||||||||||||||||||||||||||||
Balance at beginning of year | $ | 3,379,512 | $ | 2,573,731 | $ | 2,198,361 | |||||||||||||||||||||||||||
Acquisitions | 711,710 | 761,977 | 301,531 | ||||||||||||||||||||||||||||||
Improvements | 37,949 | 34,964 | 39,352 | ||||||||||||||||||||||||||||||
Transfers from construction in progress | 3,643 | 8,957 | 34,777 | ||||||||||||||||||||||||||||||
Dispositions and other | (6,166 | ) | (117 | ) | (290 | ) | |||||||||||||||||||||||||||
| | | | | | | | | | | |||||||||||||||||||||||
Balance at end of year | $ | 4,126,648 | $ | 3,379,512 | $ | 2,573,731 | |||||||||||||||||||||||||||
| | | | | | | | | | | |||||||||||||||||||||||
Accumulated depreciation: | |||||||||||||||||||||||||||||||||
Balance at beginning of year | $ | 391,928 | $ | 319,302 | $ | 263,042 | |||||||||||||||||||||||||||
Depreciation expense | 104,963 | 72,626 | 56,702 | ||||||||||||||||||||||||||||||
Dispositions and other | (137 | ) | — | (442 | ) | ||||||||||||||||||||||||||||
| | | | | | | | | | | |||||||||||||||||||||||
Balance at end of year | $ | 496,754 | $ | 391,928 | $ | 319,302 | |||||||||||||||||||||||||||
| | | | | | | | | | | |||||||||||||||||||||||
Real estate under development/redevelopment: | |||||||||||||||||||||||||||||||||
Balance at beginning of year | $ | 4,138 | $ | 9,366 | $ | 37,083 | |||||||||||||||||||||||||||
Current development | 6,466 | 3,759 | 7,060 | ||||||||||||||||||||||||||||||
Transfers to operating facilities | (3,954 | ) | (8,987 | ) | (34,777 | ) | |||||||||||||||||||||||||||
Dispositions and other | — | — | — | ||||||||||||||||||||||||||||||
| | | | | | | | | | | |||||||||||||||||||||||
Balance at end of year | $ | 6,650 | $ | 4,138 | $ | 9,366 | |||||||||||||||||||||||||||
| | | | | | | | | | | |||||||||||||||||||||||
Net real estate assets | $ | 3,636,544 | $ | 2,991,722 | $ | 2,263,795 | |||||||||||||||||||||||||||
| | | | | | | | | | | |||||||||||||||||||||||
| | | | | | | | | | | |||||||||||||||||||||||
The aggregate cost of real estate for U.S. federal income tax purposes is $3,679,606. | |||||||||||||||||||||||||||||||||
SUMMARY_OF_SIGNIFICANT_ACCOUNT1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' | |||||||||||||
Basis of Presentation | ' | |||||||||||||
Basis of Presentation | ||||||||||||||
The consolidated financial statements are presented on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles ("GAAP") and include the accounts of the Company and its wholly- or majority- owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. | ||||||||||||||
Variable Interest Entities | ' | |||||||||||||
Variable Interest Entities | ||||||||||||||
The Company accounts for arrangements that are not controlled through voting or similar rights as variable interest entities ("VIEs"). An enterprise is required to consolidate a VIE if it is the primary beneficiary of the VIE. A VIE is created when (i) the equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support from other parties, or (ii) the entity's equity holders as a group either: (a) lack the power, through voting or similar rights, to direct the activities of the entity that most significantly impact the entity's economic performance, (b) are not obligated to absorb expected losses of the entity if they occur, or (c) do not have the right to receive expected residual returns of the entity if they occur. If an entity is deemed to be a VIE, the enterprise that is deemed to have a variable interest, or combination of variable interests, that provides the enterprise with a controlling financial interest in the VIE, is considered the primary beneficiary and must consolidate the VIE. | ||||||||||||||
The Company has concluded that under certain circumstances when the Company (1) enters into option agreements for the purchase of land or facilities from an entity and pays a non-refundable deposit, or (2) enters into arrangements for the formation of joint ventures, a VIE may be created under condition (i), (ii) (b) or (c) of the previous paragraph. For each VIE created, the Company has performed a qualitative analysis, including considering which party, if any, has the power to direct the activities most significant to the economic performance of each VIE and whether that party has the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could be significant to the VIE. If the Company is determined to be the primary beneficiary of the VIE, the assets, liabilities and operations of the VIE are consolidated with the Company's financial statements. Additionally, the Operating Partnership has notes payable to three trusts that are VIEs under condition (ii)(a) above. Since the Operating Partnership is not the primary beneficiary of the trusts, these VIEs are not consolidated. | ||||||||||||||
The Company's investments in real estate joint ventures, where the Company has significant influence, but not control, and joint ventures which are VIEs in which the Company is not the primary beneficiary, are recorded under the equity method of accounting on the accompanying consolidated financial statements. | ||||||||||||||
Use of Estimates | ' | |||||||||||||
Use of Estimates | ||||||||||||||
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||||||||||||
Reclassifications | ' | |||||||||||||
Reclassifications | ||||||||||||||
Certain amounts in the 2012 and 2011 financial statements and supporting note disclosures have been reclassified to conform to the current year presentation. Such reclassifications did not impact previously reported net income or accumulated deficit. | ||||||||||||||
Fair Value Disclosures | ' | |||||||||||||
Fair Value Disclosures | ||||||||||||||
Derivative financial instruments | ||||||||||||||
Currently, the Company uses interest rate swaps to manage its interest rate risk. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of future interest rates (forward curves) derived from observable market interest rate forward curves. | ||||||||||||||
The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty's nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. In conjunction with the Financial Accounting Standard Board's fair value measurement guidance, the Company made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio. | ||||||||||||||
Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of December 31, 2013, the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. | ||||||||||||||
The table below presents the Company's assets and liabilities measured at fair value on a recurring basis as of December 31, 2013, aggregated by the level in the fair value hierarchy within which those measurements fall. | ||||||||||||||
Fair Value Measurements at | ||||||||||||||
Reporting Date Using | ||||||||||||||
Description | December 31, | Quoted Prices | Significant | Significant | ||||||||||
2013 | in Active | Other | Unobservable | |||||||||||
Markets for | Observable | Inputs | ||||||||||||
Identical | Inputs | (Level 3) | ||||||||||||
Assets (Level 1) | (Level 2) | |||||||||||||
Other assets—Cash Flow Hedge Swap Agreements | $ | 13,630 | $ | — | $ | 13,630 | $ | — | ||||||
Other liabilities—Cash Flow Hedge Swap Agreements | $ | (3,684 | ) | $ | — | $ | (3,684 | ) | $ | — | ||||
There were no transfers of assets and liabilities between Level 1 and Level 2 during the year ended December 31, 2013. The Company did not have any significant assets or liabilities that are re-measured on a recurring basis using significant unobservable inputs as of December 31, 2013 or 2012. | ||||||||||||||
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | ||||||||||||||
Long-lived assets held for use are evaluated by the Company for impairment when events or circumstances indicate that there may be impairment. The Company reviews each self-storage facility at least annually to determine if any such events or circumstances have occurred or exist. The Company focuses on facilities where occupancy and/or rental income have decreased by a significant amount. For these facilities, the Company determines whether the decrease is temporary or permanent and whether the facility will likely recover the lost occupancy and/or revenue in the short term. In addition, the Company reviews facilities in the lease-up stage and compares actual operating results to original projections. | ||||||||||||||
When the Company determines that an event that may indicate impairment has occurred, the Company compares the carrying value of the related long-lived assets to the undiscounted future net operating cash flows attributable to the assets. An impairment loss is recorded if the net carrying value of the assets exceeds the undiscounted future net operating cash flows attributable to the assets. The impairment loss recognized equals the excess of net carrying value over the related fair value of the assets. | ||||||||||||||
When real estate assets are identified by management as held for sale, the Company discontinues depreciating the assets and estimates the fair value of the assets, net of selling costs. If the estimated fair value, net of selling costs, of the assets that have been identified for sale is less than the net carrying value of the assets, then a valuation allowance is established. The operations of assets held for sale or sold during the period are generally presented as discontinued operations for all periods presented. | ||||||||||||||
The Company assesses whether there are any indicators that the value of the Company's investments in unconsolidated real estate ventures may be impaired annually and when events or circumstances indicate that there may be impairment. An investment is impaired if management's estimate of the fair value of the investment is less than its carrying value. To the extent impairment has occurred, and is considered to be other than temporary, the loss is measured as the excess of the carrying amount of the investment over the fair value of the investment. | ||||||||||||||
As of December 31, 2013 and 2012, the Company did not have any assets or liabilities measured at fair value on a nonrecurring basis. | ||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||
The carrying values of cash and cash equivalents, restricted cash, receivables, other financial instruments included in other assets, accounts payable and accrued expenses, variable-rate notes payable, lines of credit and other liabilities reflected in the consolidated balance sheets at December 31, 2013 and 2012, approximate fair value. | ||||||||||||||
The fair values of the Company's note receivable from Preferred Operating Partnership unit holders was based on the discounted estimated future cash flows of the note (categorized within Level 3 of the fair value hierarchy); the discount rate used approximated the current market rate for loans with similar maturities and credit quality. The fair values of the Company's fixed rate notes payable and notes payable to trusts were estimated using the discounted estimated future cash payments to be made on such debt (categorized within Level 3 of the fair value hierarchy); the discount rates used approximated current market rates for loans, or groups of loans, with similar maturities and credit quality. The fair value of the Company's exchangeable senior notes was estimated using an average market price for similar securities obtained from a third party. | ||||||||||||||
The fair values of the Company's fixed-rate assets and liabilities were as follows for the periods indicated: | ||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||
Fair | Carrying | Fair | Carrying | |||||||||||
Value | Value | Value | Value | |||||||||||
Note receivable from Preferred Operating Partnership unit holders | $ | 103,491 | $ | 100,000 | $ | 108,138 | $ | 100,000 | ||||||
Fixed rate notes payable and notes payable to trusts | $ | 1,365,290 | $ | 1,368,885 | $ | 1,342,957 | $ | 1,275,605 | ||||||
Exchangeable senior notes | $ | 251,103 | $ | 250,000 | $ | — | $ | — | ||||||
Real Estate Assets | ' | |||||||||||||
Real Estate Assets | ||||||||||||||
Real estate assets are stated at cost, less accumulated depreciation. Direct and allowable internal costs associated with the development, construction, renovation, and improvement of real estate assets are capitalized. Interest, property taxes, and other costs associated with development incurred during the construction period are capitalized. The construction period begins when expenditures for the real estate assets have been made and activities that are necessary to prepare the asset for its intended use are in progress. The construction period ends when the asset is substantially complete and ready for its intended use. Capitalized interest during the years ended December 31, 2013, 2012 and 2011, was $0, $0 and $752, respectively. | ||||||||||||||
Expenditures for maintenance and repairs are charged to expense as incurred. Major replacements and betterments that improve or extend the life of the asset are capitalized and depreciated over their estimated useful lives. Depreciation is computed using the straight-line method over the estimated useful lives of the buildings and improvements, which are generally between five and 39 years. | ||||||||||||||
In connection with the Company's acquisition of self-storage facilities, the purchase price is allocated to the tangible and intangible assets and liabilities acquired based on their fair values, which are estimated using significant unobservable inputs. The value of the tangible assets, consisting of land and buildings, are determined as if vacant. Intangible assets, which represent the value of existing tenant relationships, are recorded at their fair values based on the avoided cost to replace the current leases. The Company measures the value of tenant relationships based on the rent lost due to the amount of time required to replace existing customers which is based on the Company's historical experience with turnover in its facilities. Debt assumed as part of an acquisition is recorded at fair value based on current interest rates compared to contractual rates. Acquisition-related transaction costs are expensed as incurred. | ||||||||||||||
Intangible lease rights represent: (1) purchase price amounts allocated to leases on three properties that cannot be classified as ground or building leases; these rights are amortized to expense over the life of the leases and (2) intangibles related to ground leases on five properties where the leases were assumed by the Company at rates that were lower than the current market rates for similar leases. The values associated with these assumed leases were recorded as intangibles, which will be amortized over the lease terms. | ||||||||||||||
Investments in Real Estate Ventures | ' | |||||||||||||
Investments in Real Estate Ventures | ||||||||||||||
The Company's investments in real estate joint ventures, where the Company has significant influence, but not control and joint ventures which are VIEs in which the Company is not the primary beneficiary, are recorded under the equity method of accounting in the accompanying consolidated financial statements. | ||||||||||||||
Under the equity method, the Company's investment in real estate ventures is stated at cost and adjusted for the Company's share of net earnings or losses and reduced by distributions. Equity in earnings of real estate ventures is generally recognized based on the Company's ownership interest in the earnings of each of the unconsolidated real estate ventures. For the purposes of presentation in the statement of cash flows, the Company follows the "look through" approach for classification of distributions from joint ventures. Under this approach, distributions are reported under operating cash flow unless the facts and circumstances of a specific distribution clearly indicate that it is a return of capital (e.g., a liquidating dividend or distribution of the proceeds from the joint venture's sale of assets), in which case it is reported as an investing activity. | ||||||||||||||
Cash and Cash Equivalents | ' | |||||||||||||
Cash and Cash Equivalents | ||||||||||||||
The Company's cash is deposited with financial institutions located throughout the United States and at times may exceed federally insured limits. The Company considers all highly liquid debt instruments with a maturity date of three months or less to be cash equivalents. | ||||||||||||||
Restricted Cash | ' | |||||||||||||
Restricted Cash | ||||||||||||||
Restricted cash is comprised of letters of credit and escrowed funds deposited with financial institutions located throughout the United States relating to earnest money deposits on potential acquisitions, real estate taxes, insurance and capital expenditures. | ||||||||||||||
Other Assets | ' | |||||||||||||
Other Assets | ||||||||||||||
Other assets consist primarily of equipment and fixtures, deferred financing costs, customer accounts receivable, investments in trusts, other intangible assets, income taxes receivable, deferred tax assets, prepaid expenses and the fair value of interest rate swaps. Depreciation of equipment and fixtures is computed on a straight-line basis over three to five years. Deferred financing costs are amortized to interest expense using the effective interest method over the terms of the respective debt agreements. | ||||||||||||||
Derivative Instruments and Hedging Activities | ' | |||||||||||||
Derivative Instruments and Hedging Activities | ||||||||||||||
The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. | ||||||||||||||
The Company made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio. | ||||||||||||||
Risk Management and Use of Financial Instruments | ' | |||||||||||||
Risk Management and Use of Financial Instruments | ||||||||||||||
In the normal course of its ongoing business operations, the Company encounters economic risk. There are three main components of economic risk: interest rate risk, credit risk and market risk. The Company is subject to interest rate risk on its interest-bearing liabilities. Credit risk is the risk of inability or unwillingness of tenants to make contractually required payments. Market risk is the risk of declines in the value of properties due to changes in rental rates, interest rates or other market factors affecting the value of properties held by the Company. The Company has entered into interest rate swap agreements to manage a portion of its interest rate risk. | ||||||||||||||
Exchange of Common Operating Partnership Units | ' | |||||||||||||
Exchange of Common Operating Partnership Units | ||||||||||||||
Redemption of common Operating Partnership units for share of common stock, when redeemed under the original provisions of the Operating Partnership agreement, are accounted for by reclassifying the underlying net book value of the units from noncontrolling interest to the Company's equity. The difference between the fair value of the consideration paid and the adjustment to the carrying amount of the noncontrolling interest is recognized as additional paid in capital for the Company. | ||||||||||||||
Revenue and Expense Recognition | ' | |||||||||||||
Revenue and Expense Recognition | ||||||||||||||
Rental revenues are recognized as earned based upon amounts that are currently due from tenants. Leases are generally on month-to-month terms. Prepaid rents are recognized on a straight-line basis over the term of the leases. Promotional discounts are recognized as a reduction to rental income over the promotional period. Late charges, administrative fees, merchandise sales and truck rentals are recognized as income when earned. Management fee revenues are recognized monthly as services are performed and in accordance with the terms of the related management agreements. Equity in earnings of unconsolidated real estate entities is recognized based on our ownership interest in the earnings of each of the unconsolidated real estate entities. Interest income is recognized as earned. | ||||||||||||||
Property expenses, including utilities, property taxes, repairs and maintenance and other costs to manage the facilities are recognized as incurred. The Company accrues for property tax expense based upon invoice amounts, estimates and historical trends. If these estimates are incorrect, the timing of expense recognition could be affected. | ||||||||||||||
Tenant reinsurance premiums are recognized as revenue over the period of insurance coverage. The Company records an unpaid claims liability at the end of each period based on existing unpaid claims and historical claims payment history. The unpaid claims liability represents an estimate of the ultimate cost to settle all unpaid claims as of each period end, including both reported but unpaid claims and claims that may have been incurred but have not been reported. The Company uses a third party claims administrator to adjust all tenant reinsurance claims received. The administrator evaluates each claim to determine the ultimate claim loss and includes an estimate for claims that may have been incurred but not reported. Annually, a third party actuary evaluates the adequacy of the unpaid claims liability. Prior year claim reserves are adjusted as experience develops or new information becomes known. The impact of such adjustments is included in the current period operations. The unpaid claims liability is not discounted to its present value. Each tenant chooses the amount of insurance coverage they want through the tenant reinsurance program. Tenants can purchase policies in amounts of two thousand dollars to ten thousand dollars of insurance coverage in exchange for a monthly fee. As of December 31, 2013, the average insurance coverage for tenants was approximately two thousand two hundred dollars. The Company's exposure per claim is limited by the maximum amount of coverage chosen by each tenant. The Company purchases reinsurance for losses exceeding a set amount for any one event. The Company does not currently have any amounts recoverable under the reinsurance arrangements. | ||||||||||||||
Real Estate Sales | ' | |||||||||||||
Real Estate Sales | ||||||||||||||
In general, sales of real estate and related profits/losses are recognized when all consideration has changed hands and risks and rewards of ownership have been transferred. Certain types of continuing involvement preclude sale treatment and related profit recognition; other forms of continuing involvement allow for sale recognition but require deferral of profit recognition. | ||||||||||||||
Advertising Costs | ' | |||||||||||||
Advertising Costs | ||||||||||||||
The Company incurs advertising costs primarily attributable to internet, directory and other advertising. These costs are expensed as incurred. The Company recognized $6,482, $6,026, and $5,958 in advertising expense for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||
Income Taxes | ' | |||||||||||||
Income Taxes | ||||||||||||||
The Company has elected to be treated as a REIT under Sections 856 through 860 of the Internal Revenue Code. In order to maintain its qualification as a REIT, among other things, the Company is required to distribute at least 90% of its REIT taxable income to its stockholders and meet certain tests regarding the nature of its income and assets. As a REIT, the Company is not subject to federal income tax with respect to that portion of its income which meets certain criteria and is distributed annually to stockholders. The Company plans to continue to operate so that it meets the requirements for taxation as a REIT. Many of these requirements, however, are highly technical and complex. If the Company were to fail to meet these requirements, it would be subject to federal income tax. The Company is subject to certain state and local taxes. Provision for such taxes has been included in income tax expense on the Company's consolidated statements of operations. For the year ended December 31, 2013, 21.4% (unaudited) of all distributions to stockholders qualified as a return of capital. | ||||||||||||||
The Company has elected to treat its corporate subsidiary, Extra Space Management, Inc. ("ESMI"), as a taxable REIT subsidiary ("TRS"). In general, the Company's TRS may perform additional services for tenants and may engage in any real estate or non-real estate related business. A TRS is subject to corporate federal income tax. ESM Reinsurance Limited, a wholly-owned subsidiary of ESMI, generates income from insurance premiums that are subject to corporate federal income tax and state insurance premiums tax. | ||||||||||||||
Deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities. At December 31, 2013 and 2012, there were no material unrecognized tax benefits. Interest and penalties relating to uncertain tax positions will be recognized in income tax expense when incurred. As of December 31, 2013 and 2012, the Company had no interest or penalties related to uncertain tax provisions. | ||||||||||||||
Stock-Based Compensation | ' | |||||||||||||
Stock-Based Compensation | ||||||||||||||
The measurement and recognition of compensation expense for all share-based payment awards to employees and directors are based on estimated fair values. Awards granted are valued at fair value and any compensation element is recognized on a straight line basis over the service periods of each award. | ||||||||||||||
Earnings Per Common Share | ' | |||||||||||||
Earnings Per Common Share | ||||||||||||||
Basic earnings per common share is computed by dividing net income attributable to common stockholders by the weighted average number of shares outstanding during the period. All outstanding unvested restricted stock awards contain rights to non-forfeitable dividends and participate in undistributed earnings with common stockholders; accordingly, they are considered participating securities that are included in the two-class method of computing basic earnings per common share. Diluted earnings per common share measures the performance of the Company over the reporting period while giving effect to all potential common shares that were dilutive and outstanding during the period. The denominator includes the weighted average number of basic shares and the number of additional weighted average common shares that would have been outstanding if the potential common shares that were dilutive had been issued, and is calculated using either the treasury stock or as if-converted method. Potential common shares are securities (such as options, convertible debt, redeemable Series A Participating Redeemable Preferred Units ("Series A Units"), Series B Redeemable Preferred Units, ("Series B Units"), redeemable and convertible Series C Convertible Redeemable Preferred Units ("Series C Units") and redeemable Operating Partnership units ("OP Units")) that do not have a current right to participate in earnings but could do so in the future by virtue of their option, or redemption right. In computing the dilutive effect of convertible securities, net income is adjusted to add back any changes in earnings in the period associated with the convertible security. The numerator also is adjusted for the effects of any other non-discretionary changes in income or loss that would result from the assumed conversion of those potential common shares. In computing diluted earnings per common share, only potential common shares that are dilutive (those that reduce earnings per share) are included. For the years ended December 31, 2013, 2012 and 2011, options to purchase approximately 44,958 shares, 57,335 shares and 107,523 shares of common stock, respectively, were excluded from the computation of earnings per share as their effect would have been anti-dilutive. As of December 31, 2013, 3,334,956 OP Units, 257,266 Series B Units, and 33,202 Series C Units were excluded from the computation of earnings per share as their effect would have been anti-dilutive. As of December 31, 2012 and 2011, 2,755,650 OP Units and 3,049,935 OP Units, respectively, were excluded from the computation of earnings per share as their effect would have been anti-dilutive. | ||||||||||||||
The Company's Operating Partnership had $250,000 of its 2.375% Exchangeable Senior Notes due 2033 (the "Notes due 2033") issued and outstanding as of December 31, 2013. The Notes due 2033 could potentially have a dilutive impact on the Company's earnings per share calculations. The Notes due 2033 are exchangeable by holders into shares of the Company's common stock under certain circumstances per the terms of the indenture governing the Notes due 2033. The exchange price of the Notes due 2033 was $55.69 per share as of December 31, 2013, and could change over time as described in the indenture. The Company has irrevocably agreed to pay only cash for the accreted principal amount of the Notes due 2033 relative to its exchange obligations, but retained the right to satisfy the exchange obligation in excess of the accreted principal amount in cash and/or common stock. Though the Company has retained that right, Accounting Standards Codification ("ASC") 260, "Earnings per Share," requires an assumption that shares would be used to pay the exchange obligation in excess of the accreted principal amount, and requires that those shares be included in the Company's calculation of weighted average common shares outstanding for the diluted earnings per share computation. For the year ended December 31, 2013, no shares related to the Notes due 2033 were included in the computation for diluted earnings per share as the per share price of the Company's common stock during this period did not exceed the exchange price. | ||||||||||||||
The Company's Operating Partnership had $87,663 of Exchangeable Senior Notes due 2027 (the "Notes due 2027") that were surrendered for exchange in April 2012. Prior to their exchange, the Notes due 2027 could potentially have had a dilutive effect on the Company's earnings per share calculations. The Notes due 2027 were exchangeable by holders into cash and shares of the Company's common stock under certain circumstances per the terms of the indenture governing the Notes due 2027 and at the time prior to surrender had an exchange price of $23.20 per share. The Company had irrevocably agreed to pay only cash for the accreted principal amount of the Notes due 2027 relative to its exchange obligations, but retained the right to satisfy the exchange obligations in excess of the accreted principal amount in cash and/or common stock. Though the Company retained that right, ASC 260 required an assumption that shares would be used to pay the exchange obligations in excess of the accreted principal amount, and required that those shares be included in the Company's calculation of weighted average common shares outstanding for the diluted earnings per share computation. No shares were included in the diluted share calculation for the year ended December 31, 2011 as the stock price during this time did not exceed the exchange price. No shares were included for the year ended December 31, 2012 as the Notes due 2027 were no longer outstanding. | ||||||||||||||
For the purposes of computing the diluted impact on earnings per share of the potential exchange of Series A Units for common shares upon redemption, where the Company has the option to redeem in cash or shares and where the Company has stated the positive intent and ability to settle at least $115,000 of the instrument in cash (or net settle a portion of the Series A Units against the related outstanding note receivable), only the amount of the instrument in excess of $115,000 is considered in the calculation of shares contingently issuable for the purposes of computing diluted earnings per share as allowed by ASC 260-10-45-46. | ||||||||||||||
For the purposes of computing the diluted impact on earnings per share of the potential exchange of Series B Units for common shares upon redemption, where the Company has the option to redeem in cash or shares and where the Company has stated the intent and ability to settle the redemption in shares, the Company divided the total value of the Series B Units outstanding as of December 31, 2013 of $33,568 by the closing price of the Company's common stock as of December 31, 2013 of $42.13 per share. Assuming full exchange for common shares as of December 31, 2013, 796,776 shares would have been issued to the holders of the Series B Units. | ||||||||||||||
For the purposes of computing the diluted impact on earnings per share of the potential exchange of Series C Units into common shares upon redemption, where the Company has the option to redeem in cash or shares and where the Company has stated the intent and ability to settle the redemption in shares, the Company divided the total value of the Series C Units outstanding as of December 31, 2013 of $17,177 by the closing price of the Company's common stock as of December 31, 2013 of $42.13 per share. Assuming full exchange for common shares as of December 31, 2013, 407,705 shares would have been issued to the holders of the Series C Units. | ||||||||||||||
The computation of earnings per share is as follows for the periods presented: | ||||||||||||||
For the Year Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Net income attributable to common stockholders | $ | 172,076 | $ | 117,309 | $ | 50,449 | ||||||||
Earnings and dividends allocated to participating securities | (567 | ) | (279 | ) | (365 | ) | ||||||||
| | | | | | | | | | | ||||
Earnings for basic computations | 171,509 | 117,030 | 50,084 | |||||||||||
Earnings and dividends allocated to participating securities | 567 | 279 | 365 | |||||||||||
Add: Income allocated to noncontrolling interest—Preferred Operating Partnership and Operating Partnership | 7,255 | 6,876 | 6,289 | |||||||||||
Subtract: Fixed component of income allocated to noncontrolling interest—Preferred Operating Partnership | (5,750 | ) | (5,750 | ) | (5,750 | ) | ||||||||
| | | | | | | | | | | ||||
Net income for diluted computations | $ | 173,581 | $ | 118,435 | $ | 50,988 | ||||||||
| | | | | | | | | | | ||||
| | | | | | | | | | | ||||
Weighted average common shares outstanding: | ||||||||||||||
Average number of common shares outstanding—basic | 111,349,361 | 101,766,385 | 91,301,265 | |||||||||||
Series A Units | 989,980 | 989,980 | 989,980 | |||||||||||
Dilutive and cancelled stock options and restricted stock awards | 765,753 | 1,011,000 | 1,342,328 | |||||||||||
| | | | | | | | | | | ||||
Average number of common shares outstanding—diluted | 113,105,094 | 103,767,365 | 93,633,573 | |||||||||||
Earnings per common share | ||||||||||||||
Basic | $ | 1.54 | $ | 1.15 | $ | 0.55 | ||||||||
Diluted | $ | 1.53 | $ | 1.14 | $ | 0.54 | ||||||||
Recently Issued Accounting Standards | ' | |||||||||||||
Recently Issued Accounting Standards | ||||||||||||||
In February 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2013-02 "Comprehensive Income—Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income," which supersedes and replaces the presentation requirements for reclassifications out of accumulated other comprehensive income in ASUs 2011-05 and 2011-12. The amendment requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under GAAP. For other amounts that are not required under GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under GAAP that provide additional detail about those amounts. ASU 2013-02 was effective for fiscal years, and interim periods within those years, beginning on or after December 15, 2012. The Company adopted the amended standard beginning January 1, 2013 and presents accumulated other comprehensive income in accordance with the requirements of the standard. | ||||||||||||||
SUMMARY_OF_SIGNIFICANT_ACCOUNT2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' | |||||||||||||
Schedule of assets and liabilities measured at fair value on a recurring basis | ' | |||||||||||||
Fair Value Measurements at | ||||||||||||||
Reporting Date Using | ||||||||||||||
Description | December 31, | Quoted Prices | Significant | Significant | ||||||||||
2013 | in Active | Other | Unobservable | |||||||||||
Markets for | Observable | Inputs | ||||||||||||
Identical | Inputs | (Level 3) | ||||||||||||
Assets (Level 1) | (Level 2) | |||||||||||||
Other assets—Cash Flow Hedge Swap Agreements | $ | 13,630 | $ | — | $ | 13,630 | $ | — | ||||||
Other liabilities—Cash Flow Hedge Swap Agreements | $ | (3,684 | ) | $ | — | $ | (3,684 | ) | $ | — | ||||
Schedule of fair value of financial instruments | ' | |||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||
Fair | Carrying | Fair | Carrying | |||||||||||
Value | Value | Value | Value | |||||||||||
Note receivable from Preferred Operating Partnership unit holders | $ | 103,491 | $ | 100,000 | $ | 108,138 | $ | 100,000 | ||||||
Fixed rate notes payable and notes payable to trusts | $ | 1,365,290 | $ | 1,368,885 | $ | 1,342,957 | $ | 1,275,605 | ||||||
Exchangeable senior notes | $ | 251,103 | $ | 250,000 | $ | — | $ | — | ||||||
Schedule of computation of earnings per common share | ' | |||||||||||||
For the Year Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Net income attributable to common stockholders | $ | 172,076 | $ | 117,309 | $ | 50,449 | ||||||||
Earnings and dividends allocated to participating securities | (567 | ) | (279 | ) | (365 | ) | ||||||||
| | | | | | | | | | | ||||
Earnings for basic computations | 171,509 | 117,030 | 50,084 | |||||||||||
Earnings and dividends allocated to participating securities | 567 | 279 | 365 | |||||||||||
Add: Income allocated to noncontrolling interest—Preferred Operating Partnership and Operating Partnership | 7,255 | 6,876 | 6,289 | |||||||||||
Subtract: Fixed component of income allocated to noncontrolling interest—Preferred Operating Partnership | (5,750 | ) | (5,750 | ) | (5,750 | ) | ||||||||
| | | | | | | | | | | ||||
Net income for diluted computations | $ | 173,581 | $ | 118,435 | $ | 50,988 | ||||||||
| | | | | | | | | | | ||||
| | | | | | | | | | | ||||
Weighted average common shares outstanding: | ||||||||||||||
Average number of common shares outstanding—basic | 111,349,361 | 101,766,385 | 91,301,265 | |||||||||||
Series A Units | 989,980 | 989,980 | 989,980 | |||||||||||
Dilutive and cancelled stock options and restricted stock awards | 765,753 | 1,011,000 | 1,342,328 | |||||||||||
| | | | | | | | | | | ||||
Average number of common shares outstanding—diluted | 113,105,094 | 103,767,365 | 93,633,573 | |||||||||||
Earnings per common share | ||||||||||||||
Basic | $ | 1.54 | $ | 1.15 | $ | 0.55 | ||||||||
Diluted | $ | 1.53 | $ | 1.14 | $ | 0.54 |
REAL_ESTATE_ASSETS_Tables
REAL ESTATE ASSETS (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
REAL ESTATE ASSETS | ' | |||||||
Schedule of components of real estate assets | ' | |||||||
December 31, 2013 | December 31, 2012 | |||||||
Land—operating | $ | 1,009,500 | $ | 755,565 | ||||
Land—development | 10,421 | 12,050 | ||||||
Buildings and improvements | 3,032,218 | 2,551,886 | ||||||
Intangible assets—tenant relationships | 65,811 | 51,355 | ||||||
Intangible lease rights | 8,698 | 8,656 | ||||||
| | | | | | | | |
4,126,648 | 3,379,512 | |||||||
Less: accumulated depreciation and amortization | (496,754 | ) | (391,928 | ) | ||||
| | | | | | | | |
Net operating real estate assets | 3,629,894 | 2,987,584 | ||||||
Real estate under development/redevelopment | 6,650 | 4,138 | ||||||
| | | | | | | | |
Net real estate assets | $ | 3,636,544 | $ | 2,991,722 | ||||
| | | | | | | | |
| | | | | | | | |
Real estate assets held for sale included in net real estate assets | $ | 5,625 | $ | 8,600 | ||||
| | | | | | | | |
| | | | | | | | |
PROPERTY_ACQUISITIONS_AND_DISP1
PROPERTY ACQUISITIONS AND DISPOSITIONS (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||
PROPERTY ACQUISITIONS AND DISPOSITIONS | ' | |||||||||||||||||||||||||||||||||||||||||||||
Schedule of operating properties acquired | ' | |||||||||||||||||||||||||||||||||||||||||||||
Consideration Paid | Acquisition Date Fair Value | |||||||||||||||||||||||||||||||||||||||||||||
Property Location | Number of | Date of | Total | Cash Paid | Loan | Non-cash | Notes | Previous | Net | Value of | Number of | Land | Building | Intangible | Closing | Notes | ||||||||||||||||||||||||||||||
Properties | Acquisition | Assumed | gain | Issued | equity | Liabilities/ | OP Units | OP Units | costs— | |||||||||||||||||||||||||||||||||||||
to/from | interest | (Assets) Assumed | Issued | Issued | expensed | |||||||||||||||||||||||||||||||||||||||||
Seller | ||||||||||||||||||||||||||||||||||||||||||||||
Texas | 1 | 12/9/13 | $ | 4,616 | $ | 4,610 | $ | — | $ | — | $ | — | $ | — | $ | 6 | $ | — | — | $ | 2,033 | $ | 2,495 | $ | 70 | $ | 18 | |||||||||||||||||||
Hawaii | 1 | 12/6/13 | 8,029 | 7,987 | — | — | — | — | 42 | — | — | — | 7,776 | 218 | 35 | |||||||||||||||||||||||||||||||
California | 2 | 12/3/13 | 24,334 | 16,588 | — | 4,208 | — | (1,263 | ) | 67 | 4,734 | 112,446 | 6,061 | 15,402 | 392 | 2,479 | -1 | |||||||||||||||||||||||||||||
California | 6 | 12/2/13 | 48,514 | 26,114 | 4,342 | 5,131 | — | 311 | 173 | 12,443 | 295,550 | 8,859 | 38,347 | 864 | 444 | -1 | ||||||||||||||||||||||||||||||
Florida | 2 | 11/8/13 | 27,547 | 27,572 | — | — | — | — | (25 | ) | — | — | 3,909 | 23,221 | 374 | 43 | ||||||||||||||||||||||||||||||
Florida | 1 | 11/7/13 | 10,500 | 10,460 | — | — | — | — | 40 | — | — | 2,108 | 8,028 | 161 | 203 | |||||||||||||||||||||||||||||||
Various states | 16 | 11/4/13 | 96,711 | 98,424 | — | — | — | — | (1,713 | ) | — | — | 24,248 | 70,160 | 1,874 | 429 | ||||||||||||||||||||||||||||||
Various states | 19 | 11/1/13 | 187,825 | 43,475 | 99,339 | 34,137 | — | 12,373 | (1,499 | ) | — | — | 85,123 | 99,500 | 3,203 | 1 | -2 | |||||||||||||||||||||||||||||
Georgia | 1 | 10/15/13 | 12,414 | 12,382 | — | — | — | — | 32 | — | — | 1,773 | 10,456 | 174 | 11 | |||||||||||||||||||||||||||||||
North Carolina | 1 | 10/15/13 | 5,535 | 5,519 | — | — | — | — | 16 | — | — | 3,614 | 1,788 | 126 | 7 | |||||||||||||||||||||||||||||||
California | 1 | 9/26/13 | 10,928 | 4,791 | — | — | — | — | 51 | 6,086 | 177,107 | 3,138 | 7,429 | 181 | 180 | -3 | ||||||||||||||||||||||||||||||
California | 19 | 8/29/13 | 186,427 | 96,085 | — | — | — | — | 519 | 89,823 | 2,613,728 | 100,446 | 81,830 | 2,997 | 1,154 | -3 | ||||||||||||||||||||||||||||||
Arizona | 2 | 7/25/13 | 9,313 | 9,183 | — | — | — | — | 130 | — | — | 2,001 | 7,110 | 192 | 10 | |||||||||||||||||||||||||||||||
Maryland | 1 | 6/10/13 | 13,688 | 419 | 7,122 | — | — | — | 17 | 6,130 | 143,860 | 2,160 | 11,340 | — | 188 | |||||||||||||||||||||||||||||||
Texas | 1 | 5/8/13 | 7,104 | 7,057 | — | — | — | — | 47 | — | — | 1,374 | 5,636 | 86 | 8 | |||||||||||||||||||||||||||||||
Hawaii | 2 | 5/3/13 | 27,560 | 27,491 | — | — | — | — | 69 | — | — | 5,991 | 20,976 | 438 | 155 | |||||||||||||||||||||||||||||||
Illinois | 1 | 2/13/13 | 11,083 | 7,592 | — | 341 | 2,251 | 1,173 | (274 | ) | — | — | 1,318 | 9,485 | 190 | 90 | ||||||||||||||||||||||||||||||
Maryland | 1 | 2/13/13 | 12,321 | 8,029 | — | 2,215 | — | 2,273 | (196 | ) | — | — | 1,266 | 10,789 | 260 | 6 | ||||||||||||||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
2013 Totals | 78 | $ | 704,449 | $ | 413,778 | $ | 110,803 | $ | 46,032 | $ | 2,251 | $ | 14,867 | $ | (2,498 | ) | $ | 119,216 | 3,342,691 | $ | 255,422 | $ | 431,768 | $ | 11,800 | $ | 5,461 | |||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Florida | 1 | 12/28/12 | $ | 4,270 | $ | 4,258 | $ | — | $ | — | $ | — | $ | — | $ | 12 | $ | — | — | $ | 805 | $ | 3,345 | $ | 95 | $ | 25 | |||||||||||||||||||
Maryland | 1 | 12/27/12 | 13,107 | 10,596 | 2,692 | — | — | — | (181 | ) | — | — | 4,314 | 8,412 | 206 | 175 | ||||||||||||||||||||||||||||||
Arizona | 1 | 12/27/12 | 8,667 | 8,608 | — | — | — | — | 59 | — | — | 2,973 | 5,545 | 141 | 8 | |||||||||||||||||||||||||||||||
Florida | 2 | 12/27/12 | 8,766 | 142 | — | — | 8,584 | — | 40 | — | — | 1,597 | 6,862 | 215 | 92 | -4 | ||||||||||||||||||||||||||||||
Florida | 1 | 12/3/12 | 4,273 | 4,254 | — | — | — | — | 19 | — | — | 1,133 | 3,017 | 99 | 24 | |||||||||||||||||||||||||||||||
Various states | 21 | 11/30/12 | 164,566 | 140,513 | — | 10,171 | — | 14,184 | (302 | ) | — | — | 41,988 | 119,681 | 2,881 | 16 | -5 | |||||||||||||||||||||||||||||
New Jersey | 4 | 11/30/12 | 39,336 | 39,283 | — | — | — | — | 53 | — | — | 10,920 | 26,712 | 825 | 879 | |||||||||||||||||||||||||||||||
Massachusetts | 1 | 11/9/12 | 9,011 | 8,994 | — | — | — | — | 17 | — | — | 3,115 | 5,684 | 190 | 22 | |||||||||||||||||||||||||||||||
Utah | 1 | 9/28/12 | 7,410 | 7,322 | — | — | — | — | 88 | — | — | 2,063 | 5,202 | 132 | 13 | -6 | ||||||||||||||||||||||||||||||
Virginia | 1 | 9/20/12 | 6,884 | 6,850 | — | — | — | — | 34 | — | — | 1,172 | 5,562 | 119 | 31 | |||||||||||||||||||||||||||||||
New Jersey | 1 | 8/28/12 | 13,678 | 13,678 | — | — | — | — | — | — | — | 1,511 | 11,732 | 241 | 194 | |||||||||||||||||||||||||||||||
New Jersey | 1 | 8/23/12 | 9,091 | 9,099 | — | — | — | — | (8 | ) | — | — | 2,144 | 6,660 | 158 | 129 | ||||||||||||||||||||||||||||||
New Jersey | 1 | 8/23/12 | 15,475 | 15,431 | — | — | — | — | 44 | — | — | 1,890 | 13,112 | 269 | 204 | |||||||||||||||||||||||||||||||
New York | 1 | 8/10/12 | 15,300 | 15,377 | — | — | — | — | (77 | ) | — | — | 2,800 | 12,173 | 269 | 58 | ||||||||||||||||||||||||||||||
Texas | 2 | 8/10/12 | 9,948 | 9,775 | — | — | — | — | 173 | — | — | 4,869 | 4,826 | 241 | 12 | |||||||||||||||||||||||||||||||
California | 1 | 7/26/12 | 4,860 | 2,376 | 2,592 | — | — | — | (108 | ) | — | — | 2,428 | 2,317 | 93 | 22 | ||||||||||||||||||||||||||||||
South Carolina | 1 | 7/19/12 | 4,651 | 4,621 | — | — | — | — | 30 | — | — | 1,784 | 2,755 | 107 | 5 | |||||||||||||||||||||||||||||||
New Jersey, New York | 6 | 7/18/12 | 55,622 | 55,748 | — | — | — | — | (126 | ) | — | — | 8,584 | 45,359 | 1,227 | 452 | ||||||||||||||||||||||||||||||
Colorado | 1 | 7/18/12 | 7,085 | 7,038 | — | — | — | — | 47 | — | — | — | 6,945 | 137 | 3 | |||||||||||||||||||||||||||||||
Various states | 36 | 7/2/12 | 322,516 | 162,705 | 145,000 | 13,499 | — | 3,355 | (2,043 | ) | — | — | 67,550 | 246,133 | 8,142 | 691 | -7 | |||||||||||||||||||||||||||||
Maryland | 1 | 5/31/12 | 6,501 | 6,438 | — | — | — | — | 11 | 52 | 1,814 | 1,185 | 5,051 | 147 | 118 | |||||||||||||||||||||||||||||||
Florida | 3 | 5/2/12 | 14,942 | 14,792 | — | — | — | — | 150 | — | — | 1,933 | 12,682 | 321 | 6 | |||||||||||||||||||||||||||||||
Maryland | 1 | 3/7/12 | 6,284 | 5,886 | — | — | — | — | 21 | 377 | 14,193 | 465 | 5,600 | 128 | 91 | |||||||||||||||||||||||||||||||
Texas | 1 | 2/29/12 | 9,405 | 9,323 | — | — | — | — | 82 | — | — | 1,036 | 8,133 | 187 | 49 | |||||||||||||||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
2012 Totals | 91 | $ | 761,648 | $ | 563,107 | $ | 150,284 | $ | 23,670 | $ | 8,584 | $ | 17,539 | $ | (1,965 | ) | $ | 429 | 16,007 | $ | 168,259 | $ | 573,500 | $ | 16,570 | $ | 3,319 | |||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
-1 | ||||||||||||||||||||||||||||||||||||||||||||||
This represents the acquisition of eight properties. The Company previously held no equity interest in three of the properties. For the remaining five, the Company acquired its joint venture partners' 65% interests in five joint ventures, each of which held one property in California, resulting in full ownership by the Company. Prior to the acquisition date the Company accounted for its 35% interests in these joint ventures as equity-method investments. The total acquisition date fair value of the previous equity interests was approximately $8,400 and is included as consideration transferred. The Company recognized non-cash gains of $9,340 as a result of re-measuring its prior equity interests in these joint ventures held before the acquisition. The eight were acquired in exchange for approximately $42,702 of cash and 407,996 Series C Units valued at $17,177. | ||||||||||||||||||||||||||||||||||||||||||||||
-2 | ||||||||||||||||||||||||||||||||||||||||||||||
This represents the acquisition of a joint venture partner's 49% interest in HSRE-ESP IA, LLC ("HSRE"), an existing joint venture, for $43,475 in cash and the assumption of a $96,516 loan. The result of this acquisition is that the Company owns a 99% interest in HSRE. The joint venture partner retained a 1% interest, which is included in other noncontrolling interests on the Company's consolidated balance sheets. HSRE owns 19 properties in California, Florida, Nevada, Ohio, Pennsylvania, Tennessee, Texas and Virginia. Prior to the acquisition date, the Company accounted for its 50% interest in the joint venture as an equity-method investment. The acquisition date fair value of the previous equity interest was approximately $43,500 which was calculated based on the fair value of the assets in the joint venture, and is included as consideration transferred. The Company recognized a non-cash gain of $34,137 as a result of re-measuring its prior equity interest in HSRE held before the acquisition. The properties are now consolidated as the Company owns the majority interest in the joint venture. A premium of $2,823 on the debt assumed was recorded in order to record the loan at fair value on the date of purchase. This premium is included in premiums on notes payable in the consolidated balance sheets and will be amortized to interest expense over the remaining term of the loan. | ||||||||||||||||||||||||||||||||||||||||||||||
-3 | ||||||||||||||||||||||||||||||||||||||||||||||
On August 29, 2013, the Operating Partnership completed the purchase of 19 out of 20 self-storage facilities affiliated with All Aboard Mini Storage, all of which are located in California. On September 26, 2013, the Operating Partnership completed the purchase of the remaining facility. These properties were acquired in exchange for $100,876 in cash (including $98,960 of debt assumed and immediately defeased at closing), 1,342,727 Series B Units valued at $33,568 and 1,448,108 common OP Units valued at $62,341. In accordance with ASC 805, "Business Combinations," the assumed debt was recorded at its fair value as of the closing date. The difference between the price paid to extinguish the debt, which included $9,153 of defeasance costs, and the carrying value of the debt was recorded as loss on extinguishment of debt related to portfolio acquisition on the Company's Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||||||||||||
-4 | ||||||||||||||||||||||||||||||||||||||||||||||
On May 1, 2012, the Company purchased two notes receivable from Capmark Bank for a total of $7,875. These receivables were due from Spacebox Land O'Lakes, LLC and Spacebox North Fort Myers, LLC (collectively, "Spacebox"), a third party. The notes bore interest at 15% per annum. Spacebox owned two self-storage facilities located in Florida that served as collateral for the notes. On December 27, 2012, the Company acquired the two properties owned by Spacebox in exchange for $142 of cash and forgiveness of the notes, which had an outstanding balance at the time of purchase of $8,584, including accrued interest. | ||||||||||||||||||||||||||||||||||||||||||||||
-5 | ||||||||||||||||||||||||||||||||||||||||||||||
This represents the acquisition of the Company's joint venture partner's 80% interest in the Storage Portfolio Bravo II LLC ("SPB II") joint venture, resulting in full ownership by the Company. The joint venture owned 21 properties in eleven states. Prior to the acquisition date, the Company accounted for its 20% interest in the joint venture as an equity-method investment. The acquisition date fair value of the previous equity interest was approximately $31,500 and is included as consideration transferred. The Company recognized a non-cash gain of $10,171 as a result of re-measuring its prior equity interest in SPB II held before the acquisition. | ||||||||||||||||||||||||||||||||||||||||||||||
-6 | ||||||||||||||||||||||||||||||||||||||||||||||
This property was purchased from Sandy Self Storage, LLC, which was partially owned by Kenneth T. Woolley, the son of Kenneth M. Woolley, Executive Chairman. | ||||||||||||||||||||||||||||||||||||||||||||||
-7 | ||||||||||||||||||||||||||||||||||||||||||||||
This represents the acquisition of Prudential Real Estate Investors' ("PREI®") 94.9% interest in the ESS PRISA III LLC joint venture ("PRISA III") that was formed in 2005, resulting in full ownership by the Company. The joint venture owned 36 properties located in 18 states. Prior to the acquisition date, the Company accounted for its 5.1% interest in PRISA III as an equity-method investment. The acquisition date fair value of the previous equity interest was approximately $16,300 and is included as consideration transferred. The Company recognized a non-cash gain of $13,499 as a result of re-measuring its prior equity interest in PRISA III held before the acquisition. | ||||||||||||||||||||||||||||||||||||||||||||||
Pro forma financial information | ' | |||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||
Total revenues | $ | 558,484 | $ | 457,786 | ||||||||||||||||||||||||||||||||||||||||||
Net income attributable to common stockholders | $ | 189,794 | $ | 132,744 | ||||||||||||||||||||||||||||||||||||||||||
Earnings per common share | ||||||||||||||||||||||||||||||||||||||||||||||
Basic | $ | 1.7 | $ | 1.3 | ||||||||||||||||||||||||||||||||||||||||||
Diluted | $ | 1.7 | $ | 1.3 | ||||||||||||||||||||||||||||||||||||||||||
Summary of revenues and earnings related to acquisition since the acquisition date | ' | |||||||||||||||||||||||||||||||||||||||||||||
For the | ||||||||||||||||||||||||||||||||||||||||||||||
Year Ended | ||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||
Total revenues | $ | 17,907 | ||||||||||||||||||||||||||||||||||||||||||||
Net income attributable to common stockholders | $ | 6,132 |
INVESTMENTS_IN_UNCONSOLIDATED_1
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES | ' | |||||||||||||||||||
Schedule of investments in unconsolidated real estate ventures | ' | |||||||||||||||||||
Investment balance at | ||||||||||||||||||||
Equity | Excess Profit | December 31, | ||||||||||||||||||
Ownership % | Participation % | 2013 | 2012 | |||||||||||||||||
Extra Space West One LLC ("ESW") | 5% | 40% | $ | 138 | $ | 413 | ||||||||||||||
Extra Space West Two LLC ("ESW II") | 5% | 40% | 4,286 | 4,404 | ||||||||||||||||
Extra Space Northern Properties Six LLC ("ESNPS") | 10% | 35% | 263 | 626 | ||||||||||||||||
Extra Space of Santa Monica LLC ("ESSM") | 48% | 48% | 2,541 | 2,655 | ||||||||||||||||
Clarendon Storage Associates Limited Partnership ("Clarendon") | 50% | 50% | 3,155 | 3,160 | ||||||||||||||||
HSRE-ESP IA, LLC ("HSRE") | 99% | 99% | — | 12,506 | ||||||||||||||||
PRISA Self Storage LLC ("PRISA") | 2% | 17% | 10,737 | 10,972 | ||||||||||||||||
PRISA II Self Storage LLC ("PRISA II") | 2% | 17% | 9,143 | 9,331 | ||||||||||||||||
VRS Self Storage LLC ("VRS") | 45% | 54% | 41,810 | 43,107 | ||||||||||||||||
WCOT Self Storage LLC ("WCOT") | 5% | 20% | 4,145 | 4,315 | ||||||||||||||||
Storage Portfolio I LLC ("SP I") | 25% | 25 - 40% | 12,343 | 12,587 | ||||||||||||||||
Extra Space of Eastern Avenue LLC ("Eastern Avenue") | 58% | 40% | — | 2,305 | ||||||||||||||||
Extra Space of Montrose Avenue LLC ("Montrose") | 39% | 50% | — | 1,173 | ||||||||||||||||
Other unconsolidated real estate ventures | 18 - 50% | 19 - 50% | (436 | ) | (1,241 | ) | ||||||||||||||
| | | | | | | | | | | | |||||||||
$ | 88,125 | $ | 106,313 | |||||||||||||||||
| | | | | | | | | | | | |||||||||
Schedule of equity in earnings of unconsolidated real estate ventures | ' | |||||||||||||||||||
For the Year Ended | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||
Equity in earnings of ESW | $ | 1,406 | $ | 1,263 | $ | 1,156 | ||||||||||||||
Equity in earnings (losses) of ESW II | 50 | 26 | (8 | ) | ||||||||||||||||
Equity in earnings of ESNPS | 461 | 382 | 338 | |||||||||||||||||
Equity in earnings of ESSM | 369 | 314 | 114 | |||||||||||||||||
Equity in earnings of Clarendon | 516 | 471 | 465 | |||||||||||||||||
Equity in earnings of HSRE | 1,428 | 1,298 | 388 | |||||||||||||||||
Equity in earnings of PRISA | 890 | 821 | 674 | |||||||||||||||||
Equity in earnings of PRISA II | 703 | 643 | 530 | |||||||||||||||||
Equity in earnings of PRISA III | — | 187 | 330 | |||||||||||||||||
Equity in earnings of VRS | 3,464 | 2,849 | 2,279 | |||||||||||||||||
Equity in earnings of WCOT | 448 | 370 | 92 | |||||||||||||||||
Equity in earnings (losses) of SP I | 1,243 | 1,103 | (116 | ) | ||||||||||||||||
Equity in earnings of SPB II | — | 430 | 301 | |||||||||||||||||
Equity in earnings of Everest | — | — | 88 | |||||||||||||||||
Equity in earnings of Eastern Avenue | 461 | 157 | 137 | |||||||||||||||||
Equity in losses of Montrose | — | (20 | ) | (46 | ) | |||||||||||||||
Equity in earnings of other minority owned properties | 214 | 565 | 565 | |||||||||||||||||
| | | | | | | | | | | ||||||||||
$ | 11,653 | $ | 10,859 | $ | 7,287 | |||||||||||||||
| | | | | | | | | | | ||||||||||
| | | | | | | | | | | ||||||||||
Disclosure of real estate ventures' debt | ' | |||||||||||||||||||
Loan Amount | Current | Debt | ||||||||||||||||||
Interest Rate | Maturity | |||||||||||||||||||
ESW—Fixed | $ | 16,700 | 5 | % | Sep-15 | |||||||||||||||
ESW II—Swapped to fixed | 19,327 | 3.57 | % | Feb-19 | ||||||||||||||||
ESNPS—Fixed | 34,500 | 5.27 | % | Jun-15 | ||||||||||||||||
ESSM—Variable | 11,125 | 2.19 | % | Nov-14 | ||||||||||||||||
Clarendon—Swapped to fixed | 8,024 | 5.93 | % | Sep-18 | ||||||||||||||||
PRISA | — | — | Unleveraged | |||||||||||||||||
PRISA II | — | — | Unleveraged | |||||||||||||||||
VRS—Swapped to fixed | 52,100 | 3.34 | % | Jul-19 | ||||||||||||||||
WCOT—Swapped to fixed | 87,500 | 3.34 | % | Aug-19 | ||||||||||||||||
SP I—Fixed | 93,994 | 4.66 | % | Apr-18 | ||||||||||||||||
Other minority owned properties | 25,504 | Various | Various | |||||||||||||||||
Condensed financial information of unconsolidated real estate ventures | ' | |||||||||||||||||||
December 31, | ||||||||||||||||||||
Balance Sheets: | 2013(a) | 2012(a)(b) | ||||||||||||||||||
Assets: | ||||||||||||||||||||
Net real estate assets | $ | 1,474,754 | $ | 1,633,402 | ||||||||||||||||
Other | 33,788 | 33,103 | ||||||||||||||||||
| | | | | | | | |||||||||||||
$ | 1,508,542 | $ | 1,666,505 | |||||||||||||||||
| | | | | | | | |||||||||||||
| | | | | | | | |||||||||||||
Liabilities and members' equity: | ||||||||||||||||||||
Notes payable | $ | 304,121 | $ | 404,630 | ||||||||||||||||
Other liabilities | 22,040 | 27,383 | ||||||||||||||||||
Members' equity | 1,182,381 | 1,234,492 | ||||||||||||||||||
| | | | | | | | |||||||||||||
$ | 1,508,542 | $ | 1,666,505 | |||||||||||||||||
| | | | | | | | |||||||||||||
| | | | | | | | |||||||||||||
For the Year Ended December 31, | ||||||||||||||||||||
Statements of Income: | 2013(a) | 2012(a)(b) | 2011(b) | |||||||||||||||||
Rents and other income | $ | 260,487 | $ | 266,222 | $ | 304,499 | ||||||||||||||
Expenses | 149,595 | 164,285 | 217,114 | |||||||||||||||||
| | | | | | | | | | | ||||||||||
Net income | $ | 110,892 | $ | 101,937 | $ | 87,385 | ||||||||||||||
| | | | | | | | | | | ||||||||||
| | | | | | | | | | | ||||||||||
(a) | ||||||||||||||||||||
On November 1, 2013 the Company acquired its partner's 49% interest in HSRE as disclosed in Note 4. Property Acquisitions and Dispositions. As such, HSRE is now consolidated on the Company's balance sheet and has been excluded from the 2013 balance sheet table above. | ||||||||||||||||||||
(b) | ||||||||||||||||||||
The income statement information for the years ended December 31, 2012 and 2011 includes results from PRISA III and SPB II, which were acquired by the Company during 2012. Balance sheet information as of December 31, 2013 and 2012 does not include PRISA III or SPB II. | ||||||||||||||||||||
Schedule of the comparison of the liability balance and the maximum exposure to loss related to the Company's each VIE | ' | |||||||||||||||||||
Liability | Investment | Balance of | Amounts | Maximum | Difference | |||||||||||||||
Balance | Balance | Guaranteed | Payable to | Exposure | ||||||||||||||||
Loan | the Company | to Loss | ||||||||||||||||||
Extra Space of Sacramento One LLC | $ | — | $ | (1,096 | ) | $ | 4,307 | $ | 6,283 | $ | 9,494 | $ | (9,494 | ) |
OTHER_ASSETS_Tables
OTHER ASSETS (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
OTHER ASSETS | ' | |||||||
Schedule of other assets | ' | |||||||
December 31, 2013 | December 31, 2012 | |||||||
Equipment and fixtures | $ | 21,774 | $ | 15,090 | ||||
Less: accumulated depreciation | (12,805 | ) | (10,223 | ) | ||||
Other intangible assets | 6,460 | 3,434 | ||||||
Deferred financing costs, net | 21,881 | 19,783 | ||||||
Prepaid expenses and deposits | 8,355 | 7,934 | ||||||
Receivables, net | 32,025 | 19,881 | ||||||
Investments in Trusts | 3,590 | 3,590 | ||||||
Income taxes receivable | 1,845 | 3,609 | ||||||
Fair value of interest rate swaps | 13,630 | — | ||||||
Deferred tax asset | — | 3,505 | ||||||
| | | | | | | | |
$ | 96,755 | $ | 66,603 | |||||
| | | | | | | | |
| | | | | | | | |
NOTES_PAYABLE_Tables
NOTES PAYABLE (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
NOTES PAYABLE | ' | |||||||
Schedule of components of notes payable | ' | |||||||
December 31, 2013 | December 31, 2012 | |||||||
Fixed Rate | ||||||||
Mortgage loans with banks (including loans subject to interest rate swaps) bearing interest at fixed rates between 2.8% and 6.7%. The loans are collateralized by mortgages on real estate assets and the assignment of rents. Principal and interest payments are made monthly with all outstanding principal and interest due between May 2014 and April 2021. | $ | 1,249,295 | $ | 1,156,015 | ||||
Variable Rate | ||||||||
Mortgage loans with banks bearing floating interest rates based on LIBOR and Prime. Interest rates based on LIBOR are between LIBOR plus 1.8% (1.97% at December 31, 2013 and 2.21% December 31, 2012) and LIBOR plus 2.1% (2.27% at December 31, 2013 and 3.21% December 31, 2012). Interest rates based on Prime are 3.25% at December 31, 2013. The loans are collateralized by mortgages on real estate assets and the assignment of rents. Principal and interest payments are made monthly with all outstanding principal and interest due between December 2014 and April 2020. | 339,301 | 213,675 | ||||||
| | | | | | | | |
$ | 1,588,596 | $ | 1,369,690 | |||||
| | | | | | | | |
| | | | | | | | |
Schedule of maturities of notes payable | ' | |||||||
2014 | $ | 29,004 | ||||||
2015 | 257,432 | |||||||
2016 | 156,315 | |||||||
2017 | 422,215 | |||||||
2018 | 137,794 | |||||||
Thereafter | 585,836 | |||||||
| | | | | ||||
$ | 1,588,596 | |||||||
| | | | | ||||
| | | | | ||||
DERIVATIVES_Tables
DERIVATIVES (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
DERIVATIVES | ' | ||||||||||||
Schedule summarizing the terms of entity's derivative financial instruments | ' | ||||||||||||
Hedge Product | Current Notional | Strike | Effective Dates | Maturity Dates | |||||||||
Amounts | |||||||||||||
Swap Agreements | $4,780 - $96,107 | 2.79% - 6.32% | 7/1/2009 - 7/25/2013 | 7/1/2014 - 4/1/2021 | |||||||||
Schedule of balance sheet classification and fair value of the entity's derivative financial instruments | ' | ||||||||||||
Asset (Liability) Derivatives | |||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||
Derivatives designated as | Balance Sheet | Fair | Balance Sheet | Fair | |||||||||
hedging instruments: | Location | Value | Location | Value | |||||||||
Swap Agreements | Other assets | $ | 13,630 | Other assets | $ | — | |||||||
Swap Agreements | Other liabilities | $ | (3,684 | ) | Other liabilities | $ | (15,228 | ) | |||||
Interest payments recognized as an increase or decrease in interest expense | ' | ||||||||||||
For the Year Ended | |||||||||||||
Classification of | December 31, | ||||||||||||
Type | Income (Expense) | 2013 | 2012 | 2011 | |||||||||
Swap Agreements | Interest expense | $ | (8,917 | ) | $ | (6,758 | ) | $ | (3,771 | ) | |||
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Schedule of information relating to the gain (loss) recognized on the swap agreements | ' | ||||||||||||
Gain (loss) | |||||||||||||
reclassified | |||||||||||||
Gain (loss) | from OCI | ||||||||||||
recognized in OCI | Location of amounts | For the Year Ended | |||||||||||
reclassified from OCI | December 31, 2013 | ||||||||||||
Type | December 31, 2013 | into income | |||||||||||
Swap Agreements | $ | 13,718 | Interest expense | $ | (8,917 | ) | |||||||
| | | | | | | | | | ||||
| | | | | | | | | | ||||
NOTES_PAYABLE_TO_TRUSTS_Tables
NOTES PAYABLE TO TRUSTS (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
NOTES PAYABLE TO TRUSTS | ' | |||||||||||||
Schedule of the liabilities and the maximum exposure to loss related to the trusts | ' | |||||||||||||
Notes payable | Investment | Maximum | Difference | |||||||||||
to Trusts | Balance | exposure to loss | ||||||||||||
Trust | $ | 36,083 | $ | 1,083 | $ | 35,000 | $ | — | ||||||
Trust II | 42,269 | 1,269 | 41,000 | — | ||||||||||
Trust III | 41,238 | 1,238 | 40,000 | — | ||||||||||
| | | | | | | | | | | | | | |
$ | 119,590 | $ | 3,590 | $ | 116,000 | $ | — | |||||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
EXCHANGEABLE_SENIOR_NOTES_Tabl
EXCHANGEABLE SENIOR NOTES (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
EXCHANGEABLE SENIOR NOTES | ' | ||||||||||
Information about the debt and equity components of the exchangeable senior notes | ' | ||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||
Carrying amount of equity component | $ | (14,496 | ) | $ | — | ||||||
| | | | | | | | ||||
| | | | | | | | ||||
Principal amount of liability component | $ | 250,000 | $ | — | |||||||
Unamortized discount—equity component | (13,131 | ) | — | ||||||||
Unamortized cash discount | (3,356 | ) | — | ||||||||
| | | | | | | | ||||
Net carrying amount of liability component | $ | 233,513 | $ | — | |||||||
| | | | | | | | ||||
| | | | | | | | ||||
Interest cost recognized and the amortization of the discount on the liability component | ' | ||||||||||
For the Year Ended | |||||||||||
December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
Contractual interest | $ | 3,134 | $ | 790 | $ | 3,178 | |||||
Amortization of discount | 1,404 | 444 | 1,761 | ||||||||
| | | | | | | | | | | |
Total interest expense recognized | $ | 4,538 | $ | 1,234 | $ | 4,939 | |||||
| | | | | | | | | | | |
| | | | | | | | | | | |
LINES_OF_CREDIT_Tables
LINES OF CREDIT (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
LINES OF CREDIT | ' | ||||||||||||||||||||
Summarized information of lines of credit | ' | ||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||
Line of Credit | Amount | Capacity | Interest | Origination | Maturity | Basis Rate | Notes | ||||||||||||||
Drawn | Rate | Date | |||||||||||||||||||
Credit Line 1 | $ | — | $ | 75,000 | 2.07 | % | 2/13/09 | 5/13/14 | LIBOR plus 1.90 | % | -1 | ||||||||||
Credit Line 2 | — | 85,000 | 2.07 | % | 6/4/10 | 6/3/16 | LIBOR plus 1.90 | % | -2 | ||||||||||||
Credit Line 3 | — | 40,000 | 2.37 | % | 11/16/10 | 2/13/17 | LIBOR plus 2.20 | % | (3)(4) | ||||||||||||
Credit Line 4 | — | 80,000 | 1.87 | % | 4/29/11 | 11/18/16 | LIBOR plus 1.70 | % | -4 | ||||||||||||
| | | | | | | | | | | | | | | | | | | | | |
$ | — | $ | 280,000 | ||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
-1 | |||||||||||||||||||||
One year extension available | |||||||||||||||||||||
-2 | |||||||||||||||||||||
One two-year extension available | |||||||||||||||||||||
-3 | |||||||||||||||||||||
Amended February 13, 2014 to extend the maturity date to February 13, 2017, increase the capacity to $50,000 and lower the interest rate to Libor plus 1.75%. | |||||||||||||||||||||
-4 | |||||||||||||||||||||
Two one-year extensions available | |||||||||||||||||||||
OTHER_LIABILITIES_Tables
OTHER LIABILITIES (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
OTHER LIABILITIES | ' | |||||||
Summarized statement of other liabilities | ' | |||||||
December 31, 2013 | December 31, 2012 | |||||||
Deferred rental income | $ | 24,037 | $ | 20,752 | ||||
Lease obligation liability | 2,076 | 3,826 | ||||||
Fair value of interest rate swaps | 3,684 | 15,228 | ||||||
Income taxes payable | 671 | 1,414 | ||||||
Deferred tax liability | 3,481 | — | ||||||
Other miscellaneous liabilities | 4,048 | 7,028 | ||||||
| | | | | | | | |
$ | 37,997 | $ | 48,248 | |||||
| | | | | | | | |
| | | | | | | | |
Schedule of roll forward of the liability of unpaid claims | ' | |||||||
For the Year Ended | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Unpaid claims liability at beginning of year | $ | 1,414 | $ | 715 | ||||
Provision for current year claims | 3,817 | 3,417 | ||||||
Increase (decrease) in provision for prior year claims | (116 | ) | 22 | |||||
Payments for current year claims | (2,627 | ) | (2,028 | ) | ||||
Payments for prior year claims | (1,252 | ) | (712 | ) | ||||
| | | | | | | | |
Unpaid claims liability at the end of the year | $ | 1,236 | $ | 1,414 | ||||
| | | | | | | | |
| | | | | | | | |
RELATED_PARTY_AND_AFFILIATED_R1
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ||||||||||||
Summarized information of management fee revenues for related party and affiliated joint ventures | ' | ||||||||||||
For the Year Ended | |||||||||||||
December 31, | |||||||||||||
Entity | Type | 2013 | 2012 | 2011 | |||||||||
ESW | Affiliated real estate joint ventures | $ | 450 | $ | 430 | $ | 410 | ||||||
ESW II | Affiliated real estate joint ventures | 382 | 354 | 335 | |||||||||
ESNPS | Affiliated real estate joint ventures | 528 | 498 | 479 | |||||||||
ESSM | Affiliated real estate joint ventures | 117 | 107 | 85 | |||||||||
HSRE | Affiliated real estate joint ventures | 1,146 | 1,094 | 1,045 | |||||||||
PRISA | Affiliated real estate joint ventures | 5,215 | 5,174 | 4,961 | |||||||||
PRISA II | Affiliated real estate joint ventures | 4,397 | 4,138 | 4,016 | |||||||||
PRISA III | Affiliated real estate joint ventures | — | 920 | 1,796 | |||||||||
VRS | Affiliated real estate joint ventures | 1,286 | 1,207 | 1,156 | |||||||||
WCOT | Affiliated real estate joint ventures | 1,601 | 1,520 | 1,497 | |||||||||
SP I | Affiliated real estate joint ventures | 1,953 | 1,885 | 6,392 | |||||||||
SPB II | Affiliated real estate joint ventures | — | 923 | 969 | |||||||||
Everest | Affiliated real estate joint ventures | 15 | 133 | 528 | |||||||||
Other | Franchisees, third parties and other | 9,524 | 7,323 | 6,255 | |||||||||
| | | | | | | | | | | | | |
$ | 26,614 | $ | 25,706 | $ | 29,924 | ||||||||
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Summarized information of receivables from related party and affiliated joint ventures | ' | ||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||
Mortgage notes receivable | $ | 5,818 | $ | 7,670 | |||||||||
Other receivables from properties | 1,724 | 3,408 | |||||||||||
| | | | | | | | ||||||
$ | 7,542 | $ | 11,078 | ||||||||||
| | | | | | | | ||||||
| | | | | | | | ||||||
STOCKBASED_COMPENSATION_Tables
STOCK-BASED COMPENSATION (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
STOCK-BASED COMPENSATION | ' | ||||||||||||||||
Summary of stock option activity | ' | ||||||||||||||||
Options | Number of Shares | Weighted Average | Weighted Average | Aggregate | |||||||||||||
Exercise Price | Remaining | Intrinsic Value as | |||||||||||||||
Contractual Life | of December 31, | ||||||||||||||||
(Years) | 2013 | ||||||||||||||||
Outstanding at December 31, 2010 | 3,105,905 | $ | 13.13 | ||||||||||||||
Granted | 110,900 | 19.6 | |||||||||||||||
Exercised | (1,388,269 | ) | 13.44 | ||||||||||||||
Forfeited | (29,675 | ) | 15.65 | ||||||||||||||
| | | | | | | | | | | | | | ||||
Outstanding at December 31, 2011 | 1,798,861 | $ | 13.25 | ||||||||||||||
Granted | 67,084 | 27.18 | |||||||||||||||
Exercised | (768,853 | ) | 13.55 | ||||||||||||||
Forfeited | — | — | |||||||||||||||
| | | | | | | | | | | | | | ||||
Outstanding at December 31, 2012 | 1,097,092 | $ | 13.89 | ||||||||||||||
Granted | 49,075 | 38.4 | |||||||||||||||
Exercised | (391,543 | ) | 14.81 | ||||||||||||||
Forfeited | — | — | |||||||||||||||
| | | | | | | | | | | | | | ||||
Outstanding at December 31, 2013 | 754,624 | $ | 15 | 5.1 | $ | 20,471 | |||||||||||
| | | | | | | | | | | | | | ||||
| | | | | | | | | | | | | | ||||
Vested and Expected to Vest | 734,400 | $ | 14.52 | 5.01 | $ | 20,276 | |||||||||||
Ending Exercisable | 556,191 | $ | 11.84 | 4.21 | $ | 16,847 | |||||||||||
Schedule of weighted average assumptions used to estimate fair value of granted stock options | ' | ||||||||||||||||
For the Year Ended | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Expected volatility | 42 | % | 44 | % | 45 | % | |||||||||||
Dividend yield | 4 | % | 5 | % | 5 | % | |||||||||||
Risk-free interest rate | 1 | % | 1 | % | 2 | % | |||||||||||
Average expected term (years) | 5 | 5 | 5 | ||||||||||||||
Schedule of stock options outstanding and exercisable | ' | ||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||
Exercise Price | Shares | Weighted Average | Weighted Average | Shares | Weighted Average | ||||||||||||
Remaining | Exercise Price | Exercise Price | |||||||||||||||
Contractual Life | |||||||||||||||||
$6.22 - $11.50 | 191,465 | 5.13 | $ | 6.22 | 191,465 | $ | 6.22 | ||||||||||
$11.51 - $12.50 | 192,960 | 4.83 | 12.06 | 134,315 | 12.17 | ||||||||||||
$12.51 - $15.50 | 143,700 | 2.56 | 14.76 | 143,700 | 14.76 | ||||||||||||
$15.51 - $19.60 | 116,350 | 5.32 | 18.37 | 75,950 | 17.71 | ||||||||||||
$19.61 - $38.40 | 110,149 | 8.61 | 32.2 | 10,761 | 27.35 | ||||||||||||
| | | | | | | | | | | | | | | | | |
$6.22 - $38.40 | 754,624 | 5.1 | $ | 15 | 556,191 | $ | 11.84 | ||||||||||
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Summary of the Company's employee and director share grant activity | ' | ||||||||||||||||
Restricted Stock Grants | Shares | Weighted-Average | |||||||||||||||
Grant-Date Fair Value | |||||||||||||||||
Unreleased at December 31, 2010 | 891,124 | $ | 10.62 | ||||||||||||||
Granted | 226,630 | 20.09 | |||||||||||||||
Released | (407,293 | ) | 11.91 | ||||||||||||||
Cancelled | (47,695 | ) | 14.31 | ||||||||||||||
| | | | | | | | ||||||||||
Unreleased at December 31, 2011 | 662,766 | $ | 12.81 | ||||||||||||||
Granted | 182,052 | 28.39 | |||||||||||||||
Released | (287,754 | ) | 12.98 | ||||||||||||||
Cancelled | (16,792 | ) | 14.03 | ||||||||||||||
| | | | | | | | ||||||||||
Unreleased at December 31, 2012 | 540,272 | $ | 17.93 | ||||||||||||||
Granted | 137,602 | 39.51 | |||||||||||||||
Released | (259,191 | ) | 15.11 | ||||||||||||||
Cancelled | (23,323 | ) | 23.62 | ||||||||||||||
| | | | | | | | ||||||||||
Unreleased at December 31, 2013 | 395,360 | $ | 26.96 | ||||||||||||||
| | | | | | | | ||||||||||
| | | | | | | | ||||||||||
INCOME_TAXES_Tables
INCOME TAXES (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
INCOME TAXES | ' | |||||||||||||
Summarized statement of components of income tax provision | ' | |||||||||||||
For the Year Ended | ||||||||||||||
December 31, 2013 | ||||||||||||||
Federal | State | Total | ||||||||||||
Current expense | $ | 9,572 | $ | 615 | $ | 10,187 | ||||||||
Tax credits | (4,556 | ) | — | (4,556 | ) | |||||||||
Change in deferred benefit | 4,353 | — | 4,353 | |||||||||||
| | | | | | | | | | | ||||
Total tax expense | $ | 9,369 | $ | 615 | $ | 9,984 | ||||||||
| | | | | | | | | | | ||||
| | | | | | | | | | | ||||
For the Year Ended | ||||||||||||||
December 31, 2012 | ||||||||||||||
Federal | State | Total | ||||||||||||
Current expense | $ | 8,240 | $ | 612 | $ | 8,852 | ||||||||
Tax credits | (5,528 | ) | — | (5,528 | ) | |||||||||
Change in deferred benefit | 2,089 | — | 2,089 | |||||||||||
| | | | | | | | | | | ||||
Total tax expense | $ | 4,801 | $ | 612 | $ | 5,413 | ||||||||
| | | | | | | | | | | ||||
| | | | | | | | | | | ||||
For the Year Ended | ||||||||||||||
December 31, 2011 | ||||||||||||||
Federal | State | Total | ||||||||||||
Current expense | $ | 1,350 | $ | 606 | $ | 1,956 | ||||||||
Tax credits | (6,849 | ) | — | (6,849 | ) | |||||||||
Change in deferred benefit | 6,048 | — | 6,048 | |||||||||||
| | | | | | | | | | | ||||
Total tax expense | $ | 549 | $ | 606 | $ | 1,155 | ||||||||
| | | | | | | | | | | ||||
| | | | | | | | | | | ||||
Schedule of reconciliation of the statutory income tax provisions to the effective income tax provisions | ' | |||||||||||||
For the Year Ended | ||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||
Expected tax at statutory rate | $ | 67,012 | 35 | % | $ | 46,586 | 35 | % | ||||||
Non-taxable REIT income | (53,519 | ) | (27.9 | )% | (37,729 | ) | (28.3 | )% | ||||||
State and local tax expense (benefit)—net of federal benefit | 615 | 0.3 | % | 612 | 0.5 | % | ||||||||
Change in valuation allowance | 435 | 0.2 | % | 1,641 | 1.2 | % | ||||||||
Tax Credits (WOTC & Solar) | (4,562 | ) | (2.4 | )% | (5,528 | ) | (4.2 | )% | ||||||
Miscellaneous | 3 | 0 | % | (169 | ) | (0.1 | )% | |||||||
| | | | | | | | | | | | | | |
Total provision | $ | 9,984 | 5.2 | % | $ | 5,413 | 4.1 | % | ||||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Schedule of major sources of temporary differences stated at their deferred tax effects | ' | |||||||||||||
December 31, | December 31, | |||||||||||||
2013 | 2012 | |||||||||||||
Deferred Tax Liabilities: | ||||||||||||||
Fixed Assets | $ | (14,557 | ) | $ | (9,951 | ) | ||||||||
Other | (663 | ) | (340 | ) | ||||||||||
| | | | | | | | |||||||
Total Deferred Tax Liabilities | $ | (15,220 | ) | $ | (10,291 | ) | ||||||||
| | | | | | | | |||||||
Deferred Tax Assets: | ||||||||||||||
Capitive Insurance Subsidiary | $ | 400 | $ | 385 | ||||||||||
Accrued liabilities | 1,043 | 1,193 | ||||||||||||
Stock compensation | 1,394 | 1,333 | ||||||||||||
Solar Credit | 8,480 | 10,313 | ||||||||||||
Other | 422 | 572 | ||||||||||||
State Deferreds | 4,570 | 4,135 | ||||||||||||
| | | | | | | | |||||||
Total Deferred Tax Assets | $ | 16,309 | $ | 17,931 | ||||||||||
| | | | | | | | |||||||
Valuation Allowance | $ | (4,570 | ) | $ | (4,135 | ) | ||||||||
| | | | | | | | |||||||
Net deferred income tax assets/(liabilities) | $ | (3,481 | ) | $ | 3,505 | |||||||||
| | | | | | | | |||||||
| | | | | | | | |||||||
SEGMENT_INFORMATION_Tables
SEGMENT INFORMATION (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
SEGMENT INFORMATION | ' | ||||||||||
Schedule of financial information of business segments | ' | ||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||
Balance Sheet | |||||||||||
Investment in unconsolidated real estate ventures | |||||||||||
Rental operations | $ | 88,125 | $ | 106,313 | |||||||
Total assets | |||||||||||
Property management, acquisition and development | $ | 301,001 | $ | 199,379 | |||||||
Rental operations | 3,641,746 | 2,996,453 | |||||||||
Tenant reinsurance | 34,393 | 27,645 | |||||||||
| | | | | | | | ||||
$ | 3,977,140 | $ | 3,223,477 | ||||||||
| | | | | | | | ||||
| | | | | | | | ||||
For the Year Ended December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
Statement of Operations | |||||||||||
Total revenues | |||||||||||
Rental operations | $ | 446,682 | $ | 346,874 | $ | 268,725 | |||||
Tenant reinsurance | 47,317 | 36,816 | 31,181 | ||||||||
Property management, acquisition and development | 26,614 | 25,706 | 29,924 | ||||||||
| | | | | | | | | | | |
$ | 520,613 | $ | 409,396 | $ | 329,830 | ||||||
| | | | | | | | | | | |
Operating expenses, including depreciation and amortization | |||||||||||
Rental operations | $ | 229,229 | $ | 184,540 | $ | 150,199 | |||||
Tenant reinsurance | 9,022 | 7,869 | 6,143 | ||||||||
Property management, acquisition and development | 68,879 | 59,746 | 58,012 | ||||||||
| | | | | | | | | | | |
$ | 307,130 | $ | 252,155 | $ | 214,354 | ||||||
| | | | | | | | | | | |
Income (loss) from operations | |||||||||||
Rental operations | $ | 217,453 | $ | 162,334 | $ | 118,526 | |||||
Tenant reinsurance | 38,295 | 28,947 | 25,038 | ||||||||
Property management, acquisition and development | (42,265 | ) | (34,040 | ) | (28,088 | ) | |||||
| | | | | | | | | | | |
$ | 213,483 | $ | 157,241 | $ | 115,476 | ||||||
| | | | | | | | | | | |
Gain on sale of real estate assets | |||||||||||
Rental operations | $ | 960 | $ | — | $ | — | |||||
| | | | | | | | | | | |
Loss on extinguishment of debt related to portfolio acquisition | |||||||||||
Property management, acquisition and development | $ | (9,153 | ) | $ | — | $ | — | ||||
| | | | | | | | | | | |
Interest expense | |||||||||||
Rental operations | $ | (69,702 | ) | $ | (70,472 | ) | $ | (66,598 | ) | ||
Property management, acquisition and development | (1,928 | ) | (1,378 | ) | (703 | ) | |||||
| | | | | | | | | | | |
$ | (71,630 | ) | $ | (71,850 | ) | $ | (67,301 | ) | |||
| | | | | | | | | | | |
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes | |||||||||||
Property management, acquisition and development | $ | (1,404 | ) | $ | (444 | ) | $ | (1,761 | ) | ||
| | | | | | | | | | | |
Interest income | |||||||||||
Tenant reinsurance | $ | 17 | $ | 12 | $ | 11 | |||||
Property management, acquisition and development | 732 | 1,804 | 1,016 | ||||||||
| | | | | | | | | | | |
$ | 749 | $ | 1,816 | $ | 1,027 | ||||||
| | | | | | | | | | | |
Interest income on note receivable from Preferred Operating Partnership unit holder | |||||||||||
Property management, acquisition and development | $ | 4,850 | $ | 4,850 | $ | 4,850 | |||||
| | | | | | | | | | | |
Equity in earnings of unconsolidated real estate ventures | |||||||||||
Rental operations | $ | 11,653 | $ | 10,859 | $ | 7,287 | |||||
| | | | | | | | | | | |
Equity in earnings of unconsolidated real estate ventures-gain on sale of real estate assets and purchase of joint venture partners interests | |||||||||||
Rental operations | $ | 46,032 | $ | 30,630 | $ | — | |||||
| | | | | | | | | | | |
Income tax expense | |||||||||||
Rental operations | $ | (149 | ) | $ | (660 | ) | $ | (696 | ) | ||
Tenant reinsurance | (13,409 | ) | (10,399 | ) | (8,767 | ) | |||||
Property management, acquisition and development | 3,574 | 5,646 | 8,308 | ||||||||
| | | | | | | | | | | |
$ | (9,984 | ) | $ | (5,413 | ) | $ | (1,155 | ) | |||
| | | | | | | | | | | |
Net income (loss) | |||||||||||
Rental operations | $ | 206,247 | $ | 132,691 | $ | 58,519 | |||||
Tenant reinsurance | 24,903 | 18,560 | 16,282 | ||||||||
Property management, acquisition and development | (45,594 | ) | (23,562 | ) | (16,378 | ) | |||||
| | | | | | | | | | | |
$ | 185,556 | $ | 127,689 | $ | 58,423 | ||||||
| | | | | | | | | | | |
Depreciation and amortization expense | |||||||||||
Property management, acquisition and development | $ | 6,015 | $ | 3,941 | $ | 3,296 | |||||
Rental operations | 89,217 | 70,512 | 54,718 | ||||||||
| | | | | | | | | | | |
$ | 95,232 | $ | 74,453 | $ | 58,014 | ||||||
| | | | | | | | | | | |
Statement of Cash Flows | |||||||||||
Acquisition, development and redevelopment of real estate assets | |||||||||||
Property management, acquisition and development | $ | (356,425 | ) | $ | (605,486 | ) | $ | (202,019 | ) |
COMMITMENTS_AND_CONTINGENCIES_
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
COMMITMENTS AND CONTINGENCIES | ' | |||||||||||
Schedule of future minimum rental payments under non-cancelable operating lease | ' | |||||||||||
Less than 1 year | $ | 7,806 | ||||||||||
Year 2 | 5,690 | |||||||||||
Year 3 | 4,565 | |||||||||||
Year 4 | 3,274 | |||||||||||
Year 5 | 2,660 | |||||||||||
Thereafter | 45,862 | |||||||||||
| | | | | ||||||||
$ | 69,857 | |||||||||||
| | | | | ||||||||
| | | | | ||||||||
Schedule of guaranteed loans for unconsolidated joint ventures | ' | |||||||||||
Date of | Loan | Guaranteed | Estimated | |||||||||
Guaranty | Maturity | Loan Amount | Fair Market | |||||||||
Date | Value of | |||||||||||
Assets | ||||||||||||
Extra Space of Sacramento One LLC | 9-Apr | 14-Apr | $ | 4,307 | $ | 9,290 |
SUPPLEMENTARY_QUARTERLY_FINANC1
SUPPLEMENTARY QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
SUPPLEMENTARY QUARTERLY FINANCIAL DATA (UNAUDITED) | ' | |||||||||||||
Schedule of supplementary quarterly financial data | ' | |||||||||||||
For the Three Months Ended | ||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||
2013 | 2013 | 2013 | 2013 | |||||||||||
Revenues | $ | 119,322 | $ | 126,246 | $ | 133,111 | $ | 141,934 | ||||||
Cost of operations | 72,593 | 72,871 | 77,047 | 84,619 | ||||||||||
| | | | | | | | | | | | | | |
Revenues less cost of operations | $ | 46,729 | $ | 53,375 | $ | 56,064 | $ | 57,315 | ||||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Net income | $ | 33,931 | $ | 37,101 | $ | 32,352 | $ | 82,172 | ||||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Net income attributable to common stockholders | $ | 31,425 | $ | 34,466 | $ | 29,245 | $ | 76,940 | ||||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Earnings per common share—basic | $ | 0.28 | $ | 0.31 | $ | 0.26 | $ | 0.68 | ||||||
Earnings per common share—diluted | $ | 0.28 | $ | 0.31 | $ | 0.26 | $ | 0.67 | ||||||
For the Three Months Ended | ||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||
2012 | 2012 | 2012 | 2012 | |||||||||||
Revenues | $ | 90,987 | $ | 94,951 | $ | 109,791 | $ | 113,667 | ||||||
Cost of operations | 58,217 | 57,076 | 66,307 | 70,555 | ||||||||||
| | | | | | | | | | | | | | |
Revenues less cost of operations | $ | 32,770 | $ | 37,875 | $ | 43,484 | $ | 43,112 | ||||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Net income | $ | 22,518 | $ | 24,745 | $ | 41,553 | $ | 38,873 | ||||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Net income attributable to common stockholders | $ | 20,214 | $ | 22,413 | $ | 38,606 | $ | 36,076 | ||||||
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Earnings per common share—basic | $ | 0.21 | $ | 0.22 | $ | 0.37 | $ | 0.33 | ||||||
Earnings per common share—diluted | $ | 0.21 | $ | 0.22 | $ | 0.37 | $ | 0.33 |
DESCRIPTION_OF_BUSINESS_Detail
DESCRIPTION OF BUSINESS (Details) | 12 Months Ended |
Dec. 31, 2013 | |
segment | |
property | |
state | |
DESCRIPTION OF BUSINESS | ' |
Number of operating storage facilities in which the entity has equity interests (in properties) | 779 |
Number of properties owned by franchisees and third parties | 250 |
Number of operating properties owned and/or managed | 1,029 |
Number of states in which operating storage facilities are located | 35 |
Number of reportable segments | 3 |
Maximum percentage of rental income accounted for by any single tenant | 5.00% |
SUMMARY_OF_SIGNIFICANT_ACCOUNT3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | entity | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' | ' |
Number of nonconsolidated VIEs to which Operating Partnership has notes payable (in number of entities) | 3 | ' |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ' | ' |
Other assets - Cash Flow Hedge Swap Agreements | $13,630 | ' |
Other liabilities - Cash Flow Hedge Swap Agreements | -3,684 | -15,228 |
Transfers of assets and liabilities between Level 1 and Level 2 | 0 | ' |
Recurring basis | Estimated Fair Value | ' | ' |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ' | ' |
Other assets - Cash Flow Hedge Swap Agreements | 13,630 | ' |
Other liabilities - Cash Flow Hedge Swap Agreements | -3,684 | ' |
Recurring basis | Significant Other Observable Inputs (Level 2) | ' | ' |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ' | ' |
Other assets - Cash Flow Hedge Swap Agreements | 13,630 | ' |
Other liabilities - Cash Flow Hedge Swap Agreements | ($3,684) | ' |
SUMMARY_OF_SIGNIFICANT_ACCOUNT4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value of Financial Instruments | ' | ' |
Note receivable from Preferred Operating Partnership unit holder | $100,000 | $100,000 |
Estimated Fair Value | ' | ' |
Fair Value of Financial Instruments | ' | ' |
Note receivable from Preferred Operating Partnership unit holder | 103,491 | 108,138 |
Fixed rate notes payable and notes payable to trusts | 1,365,290 | 1,342,957 |
Exchangeable senior notes | 251,103 | ' |
Carrying Value | ' | ' |
Fair Value of Financial Instruments | ' | ' |
Note receivable from Preferred Operating Partnership unit holder | 100,000 | 100,000 |
Fixed rate notes payable and notes payable to trusts | 1,368,885 | 1,275,605 |
Exchangeable senior notes | $250,000 | ' |
SUMMARY_OF_SIGNIFICANT_ACCOUNT5
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
property | |||
item | |||
REAL ESTATE ASSETS | ' | ' | ' |
Capitalized interest | $0 | $0 | $752 |
Assets | ' | ' | ' |
Number of properties whereby leases cannot be classified as ground or building leases | 3 | ' | ' |
Number of properties whereby leases have been assumed at rates lower than the current market rates | 5 | ' | ' |
Risk Management and Use of Financial Instruments | ' | ' | ' |
Number of components of economic risk | 3 | ' | ' |
Revenue and Expense Recognition | ' | ' | ' |
Minimum amount of insurance coverage | 2,000 | ' | ' |
Maximum amount of insurance coverage | 10,000 | ' | ' |
Average amount of insurance coverage | 2,200 | ' | ' |
Advertising Costs | ' | ' | ' |
Advertising expense | 6,482 | 6,026 | 5,958 |
Income Taxes | ' | ' | ' |
Minimum REIT taxable income that the company is required to distribute to its stockholders (as a percent) | 90.00% | ' | ' |
Percentage of all distributions to stockholders which qualifies as a return of capital | 21.40% | ' | ' |
Interest or penalties related to uncertain tax provisions | $0 | $0 | ' |
Buildings and improvements | Maximum | ' | ' | ' |
Assets | ' | ' | ' |
Estimated useful life | '39 years | ' | ' |
Buildings and improvements | Minimum | ' | ' | ' |
Assets | ' | ' | ' |
Estimated useful life | '5 years | ' | ' |
Equipment and fixtures | Maximum | ' | ' | ' |
Assets | ' | ' | ' |
Estimated useful life | '5 years | ' | ' |
Equipment and fixtures | Minimum | ' | ' | ' |
Assets | ' | ' | ' |
Estimated useful life | '3 years | ' | ' |
SUMMARY_OF_SIGNIFICANT_ACCOUNT6
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Stock options | ' | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share | ' | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share | 44,958 | 57,335 | 107,523 |
OP Units | ' | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share | ' | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share | 3,334,956 | 2,755,650 | 3,049,935 |
Series B Units | ' | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share | ' | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share | 257,266 | ' | ' |
Series C Units | ' | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share | ' | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share | 33,202 | ' | ' |
SUMMARY_OF_SIGNIFICANT_ACCOUNT7
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 5) (USD $) | 12 Months Ended | 12 Months Ended | ||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 21, 2013 | Apr. 30, 2012 | Mar. 31, 2012 | Mar. 01, 2012 | Mar. 27, 2007 |
Series A Units | Series B Units | Series C Units | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | ||||
2.375% Exchangeable Senior Notes due 2033 | 2.375% Exchangeable Senior Notes due 2033 | 3.625% Exchangeable Senior Notes due 2027 | 3.625% Exchangeable Senior Notes due 2027 | 3.625% Exchangeable Senior Notes due 2027 | 3.625% Exchangeable Senior Notes due 2027 | |||||||
Earnings Per Common Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of notes | ' | ' | ' | ' | ' | ' | $250,000 | ' | ' | ' | ' | ' |
Interest rate (as a percent) | ' | ' | ' | ' | ' | ' | 2.38% | 2.38% | ' | ' | ' | 3.63% |
Exchange price (in dollars per share) | ' | ' | ' | ' | ' | ' | $55.69 | ' | ' | $23.20 | ' | ' |
Exchangeable senior notes | 250,000 | ' | ' | ' | ' | ' | 250,000 | ' | 87,663 | ' | 87,663 | ' |
Shares related to the Notes included in the computation for diluted earnings per share | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exchangeable preferred operating partnership units settled in cash, minimum | ' | ' | ' | 115,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Units outstanding (in dollars) | ' | ' | ' | ' | $33,568 | $17,177 | ' | ' | ' | ' | ' | ' |
Closing price of common stock (in dollars per share) | $42.13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares which would have been issued upon assuming full exchange | 989,980 | 989,980 | 989,980 | ' | 796,776 | 407,705 | ' | ' | ' | ' | ' | ' |
SUMMARY_OF_SIGNIFICANT_ACCOUNT8
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 6) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Computation of earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to common stockholders | $76,940 | $29,245 | $34,466 | $31,425 | $36,076 | $38,606 | $22,413 | $20,214 | $172,076 | $117,309 | $50,449 |
Earnings and dividends allocated to participating securities | ' | ' | ' | ' | ' | ' | ' | ' | -567 | -279 | -365 |
Earnings for basic computations | ' | ' | ' | ' | ' | ' | ' | ' | 171,509 | 117,030 | 50,084 |
Earnings and dividends allocated to participating securities | ' | ' | ' | ' | ' | ' | ' | ' | 567 | 279 | 365 |
Add: Income allocated to noncontrolling interest - Preferred Operating Partnership and Operating Partnership | ' | ' | ' | ' | ' | ' | ' | ' | 7,255 | 6,876 | 6,289 |
Subtract: Fixed component of income allocated to noncontrolling interest - Preferred Operating Partnership | ' | ' | ' | ' | ' | ' | ' | ' | -5,750 | -5,750 | -5,750 |
Net income for diluted computations | ' | ' | ' | ' | ' | ' | ' | ' | $173,581 | $118,435 | $50,988 |
Weighted average common shares outstanding: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average number of common shares outstanding - basic | ' | ' | ' | ' | ' | ' | ' | ' | 111,349,361 | 101,766,385 | 91,301,265 |
Series A Units (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 989,980 | 989,980 | 989,980 |
Dilutive and cancelled stock options and restricted stock awards (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 765,753 | 1,011,000 | 1,342,328 |
Average number of common shares outstanding - diluted | ' | ' | ' | ' | ' | ' | ' | ' | 113,105,094 | 103,767,365 | 93,633,573 |
Earnings per common share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (in dollars per share) | $0.68 | $0.26 | $0.31 | $0.28 | $0.33 | $0.37 | $0.22 | $0.21 | $1.54 | $1.15 | $0.55 |
Diluted (in dollars per share) | $0.67 | $0.26 | $0.31 | $0.28 | $0.33 | $0.37 | $0.22 | $0.21 | $1.53 | $1.14 | $0.54 |
REAL_ESTATE_ASSETS_Details
REAL ESTATE ASSETS (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
REAL ESTATE ASSETS | ' | ' | ' |
Gross real estate assets | $4,126,648 | $3,379,512 | ' |
Less: accumulated depreciation and amortization | -496,754 | -391,928 | ' |
Net operating real estate assets | 3,629,894 | 2,987,584 | ' |
Real estate under development/redevelopment | 6,650 | 4,138 | ' |
Net real estate assets | 3,636,544 | 2,991,722 | 2,263,795 |
Real estate assets held for sale included in net real estate assets | 5,625 | 8,600 | ' |
Amortization period of intangible assets-tenant relationships | '18 months | ' | ' |
Amortization expense related to the tenant relationships and lease rights | 12,065 | 7,177 | 2,633 |
Maximum | ' | ' | ' |
REAL ESTATE ASSETS | ' | ' | ' |
Remaining amortization period (in years) | 'P49Y | ' | ' |
Minimum | ' | ' | ' |
REAL ESTATE ASSETS | ' | ' | ' |
Remaining amortization period (in years) | 'P5Y | ' | ' |
Land - operating | ' | ' | ' |
REAL ESTATE ASSETS | ' | ' | ' |
Gross real estate assets | 1,009,500 | 755,565 | ' |
Land - development | ' | ' | ' |
REAL ESTATE ASSETS | ' | ' | ' |
Gross real estate assets | 10,421 | 12,050 | ' |
Buildings and improvements | ' | ' | ' |
REAL ESTATE ASSETS | ' | ' | ' |
Gross real estate assets | 3,032,218 | 2,551,886 | ' |
Intangible assets - tenant relationships | ' | ' | ' |
REAL ESTATE ASSETS | ' | ' | ' |
Gross real estate assets | 65,811 | 51,355 | ' |
Intangible lease rights | ' | ' | ' |
REAL ESTATE ASSETS | ' | ' | ' |
Gross real estate assets | $8,698 | $8,656 | ' |
PROPERTY_ACQUISITIONS_AND_DISP2
PROPERTY ACQUISITIONS AND DISPOSITIONS (Details) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 11, 2013 | Dec. 07, 2013 | Sep. 26, 2013 | 16-May-13 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Nov. 03, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 02, 2013 | Dec. 03, 2013 | Sep. 26, 2013 | Aug. 29, 2013 | Sep. 26, 2013 | Jun. 30, 2007 | Dec. 31, 2013 | Sep. 26, 2013 | Dec. 03, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 03, 2013 | Dec. 31, 2013 | Dec. 03, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 27, 2012 | 1-May-12 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Jul. 31, 2012 |
property | property | property | Prudential Real Estate Investors' | PRISA III | Storage Portfolio Bravo II LLC | HSRE-ESP IA, LLC (HSRE) | HSRE-ESP IA, LLC (HSRE) | Affiliated joint venture | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Texas, 1 Property Acquired 2013/12/09 | Hawaii 1 Property Acquired 2013/12/06 | California properties acquired | California properties acquired | California properties acquired | California properties acquired | California, 2 Properties Acquired 2013/12/03 | California, 6 Properties Acquired 2013/12/02 | Florida, 2 Property Acquired 2013/11/08 | Florida, 1 Property Acquired 2013/11/07 | Various states, 16 Property Acquired 2013/11/04 | Various states, 19 Property Acquired 2013/11/01 | Georgia 1 Property Acquired 2013/10/15 | North Carolina 1 Property Acquired 2013/10/15 | California, 1 Property Acquired 2013/09/26 | California, 19 Properties Acquired 2013/08/29 | Arizona, 2 Properties Acquired 2013/07/25 | Maryland 1 Property Acquired 2013/06/10 | Texas 1 Property Acquired 2013/05/08 | Hawaii 2 Properties Acquired 2013/05/03 | Illinois 1 Property Acquired 2013/02/13 | Maryland 1 Property Acquired 2013/02/13 | Florida, 1 Property Acquired 2012/12/28 | Maryland, 1 Property Acquired 2012/12/27 | Arizona, 1 Property Acquired 2012/12/27 | Florida, 2 Properties Acquired 2012/12/27 | Florida, 2 Properties Acquired 2012/12/27 | Florida, 2 Properties Acquired 2012/12/27 | Florida, 2 Properties Acquired 2012/12/27 | Florida, 1 Property Acquired 2012/12/03 | Various states, 21 Properties Acquired 2012/11/30 | New Jersey, 4 Properties Acquired 2012/11/30 | Massachusetts, 1 Property Acquired 2012/11/09 | Utah, 1 Property Acquired 2012/09/28 | Virginia, 1 Property Acquired 2012/09/20 | New Jersey, 1 Property Acquired 2012/08/28 | New Jersey, 1 Property Acquired 2012/08/23 | New Jersey,1 Property Acquired 2012/08/23 | New York, 1 Property Acquired 2012/08/10 | Texas, 2 Property Acquired 2012/08/10 | California, 1 Property Acquired 2012/07/26 | South Carolina, 1 Property Acquired 2012/07/19 | New Jersey, New York, 6 Property Acquired 2012/07/18 | Colorado, 1 Property Acquired 2012/07/18 | Various states, 36 Property Acquired 2012/07/02 | Maryland, 1 Property Acquired 2012/05/31 | Florida, 3 Property Acquired 2012/05/02 | Maryland, 1 Property Acquired 2012/03/07 | Texas, 1 Property Acquired 2012/02/29 | Maryland, land acquired on July 31, 2012 | ||||||
property | property | property | property | item | property | property | property | property | property | Series B Units | Series C Units | property | property | property | property | Series C Units | Series C Units | property | property | property | property | property | property | property | property | property | property | property | property | property | property | property | property | property | property | property | property | Spacebox | Spacebox | Spacebox | property | property | property | property | property | property | property | property | property | property | property | property | property | property | property | property | property | property | property | property | |||||||||||||
property | item | item | property | item | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property Acquisitions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Properties | ' | ' | ' | ' | ' | 78 | 91 | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | 20 | ' | ' | ' | ' | 1 | 1 | ' | 8 | ' | ' | 2 | 6 | 2 | 1 | 16 | 19 | 1 | 1 | 1 | 19 | 2 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 2 | ' | ' | ' | 1 | 21 | 4 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 6 | 1 | 36 | 1 | 3 | 1 | 1 | ' |
Total Consideration Paid | ' | ' | ' | ' | ' | $704,449 | $761,648 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,616 | $8,029 | ' | ' | ' | ' | $24,334 | $48,514 | $27,547 | $10,500 | $96,711 | $187,825 | $12,414 | $5,535 | $10,928 | $186,427 | $9,313 | $13,688 | $7,104 | $27,560 | $11,083 | $12,321 | $4,270 | $13,107 | $8,667 | $8,766 | ' | ' | ' | $4,273 | $164,566 | $39,336 | $9,011 | $7,410 | $6,884 | $13,678 | $9,091 | $15,475 | $15,300 | $9,948 | $4,860 | $4,651 | $55,622 | $7,085 | $322,516 | $6,501 | $14,942 | $6,284 | $9,405 | ' |
Cash Consideration Paid | ' | ' | ' | ' | ' | 413,778 | 563,107 | ' | ' | ' | ' | 43,475 | 43,475 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,610 | 7,987 | ' | 42,702 | ' | ' | 16,588 | 26,114 | 27,572 | 10,460 | 98,424 | 43,475 | 12,382 | 5,519 | 4,791 | 96,085 | 9,183 | 419 | 7,057 | 27,491 | 7,592 | 8,029 | 4,258 | 10,596 | 8,608 | 142 | ' | ' | ' | 4,254 | 140,513 | 39,283 | 8,994 | 7,322 | 6,850 | 13,678 | 9,099 | 15,431 | 15,377 | 9,775 | 2,376 | 4,621 | 55,748 | 7,038 | 162,705 | 6,438 | 14,792 | 5,886 | 9,323 | ' |
Loans Assumed | ' | ' | ' | ' | ' | 110,803 | 150,284 | 132,327 | ' | ' | ' | 96,516 | ' | ' | ' | 4,342 | 98,960 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,342 | ' | ' | ' | 99,339 | ' | ' | ' | ' | ' | 7,122 | ' | ' | ' | ' | ' | 2,692 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,592 | ' | ' | ' | 145,000 | ' | ' | ' | ' | ' |
Non-cash gain | ' | ' | ' | ' | ' | 46,032 | 23,670 | ' | ' | ' | ' | 34,137 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,340 | 9,340 | ' | ' | 4,208 | 5,131 | ' | ' | ' | 34,137 | ' | ' | ' | ' | ' | ' | ' | ' | 341 | 2,215 | ' | ' | ' | ' | ' | ' | ' | ' | 10,171 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,499 | ' | ' | ' | ' | ' |
Notes Issued to/from Seller | ' | ' | ' | ' | ' | 2,251 | 8,584 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,251 | ' | ' | ' | ' | 8,584 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Previous equity interest | ' | ' | ' | ' | ' | 14,867 | 17,539 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,263 | 311 | ' | ' | ' | 12,373 | ' | ' | ' | ' | ' | ' | ' | ' | 1,173 | 2,273 | ' | ' | ' | ' | ' | ' | ' | ' | 14,184 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,355 | ' | ' | ' | ' | ' |
Net Liabilities (Assets) Assumed | ' | ' | ' | ' | ' | -2,498 | -1,965 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 42 | ' | ' | ' | ' | 67 | 173 | -25 | 40 | -1,713 | -1,499 | 32 | 16 | 51 | 519 | 130 | -17 | 47 | 69 | -274 | -196 | 12 | -181 | 59 | 40 | ' | ' | ' | 19 | -302 | 53 | 17 | 88 | 34 | ' | -8 | 44 | -77 | 173 | -108 | 30 | -126 | 47 | -2,043 | 11 | 150 | 21 | 82 | ' |
Value of OP units issued | ' | ' | ' | ' | ' | 119,216 | 429 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,734 | 12,443 | ' | ' | ' | ' | ' | ' | 6,086 | 89,823 | ' | 6,130 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52 | ' | 377 | ' | ' |
Number of OP Units Issued (in shares) | ' | ' | ' | ' | ' | 3,342,691 | 16,007 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 112,446 | 295,550 | ' | ' | ' | ' | ' | ' | 177,107 | 2,613,728 | ' | 143,860 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,814 | ' | 14,193 | ' | ' |
Acquisition Date Fair Value, Land | ' | ' | ' | ' | ' | 255,422 | 168,259 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,033 | ' | ' | ' | ' | ' | 6,061 | 8,859 | 3,909 | 2,108 | 24,248 | 85,123 | 1,773 | 3,614 | 3,138 | 100,446 | 2,001 | 2,160 | 1,374 | 5,991 | 1,318 | 1,266 | 805 | 4,314 | 2,973 | 1,597 | ' | ' | ' | 1,133 | 41,988 | 10,920 | 3,115 | 2,063 | 1,172 | 1,511 | 2,144 | 1,890 | 2,800 | 4,869 | 2,428 | 1,784 | 8,584 | ' | 67,550 | 1,185 | 1,933 | 465 | 1,036 | ' |
Acquisition Date Fair Value, Building | ' | ' | ' | ' | ' | 431,768 | 573,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,495 | 7,776 | ' | ' | ' | ' | 15,402 | 38,347 | 23,221 | 8,028 | 70,160 | 99,500 | 10,456 | 1,788 | 7,429 | 81,830 | 7,110 | 11,340 | 5,636 | 20,976 | 9,485 | 10,789 | 3,345 | 8,412 | 5,545 | 6,862 | ' | ' | ' | 3,017 | 119,681 | 26,712 | 5,684 | 5,202 | 5,562 | 11,732 | 6,660 | 13,112 | 12,173 | 4,826 | 2,317 | 2,755 | 45,359 | 6,945 | 246,133 | 5,051 | 12,682 | 5,600 | 8,133 | ' |
Acquisition Date Fair Value, Intangible | ' | ' | ' | ' | ' | 11,800 | 16,570 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 70 | 218 | ' | ' | ' | ' | 392 | 864 | 374 | 161 | 1,874 | 3,203 | 174 | 126 | 181 | 2,997 | 192 | ' | 86 | 438 | 190 | 260 | 95 | 206 | 141 | 215 | ' | ' | ' | 99 | 2,881 | 825 | 190 | 132 | 119 | 241 | 158 | 269 | 269 | 241 | 93 | 107 | 1,227 | 137 | 8,142 | 147 | 321 | 128 | 187 | ' |
Closing costs - expensed | ' | ' | ' | ' | ' | 5,461 | 3,319 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18 | 35 | ' | ' | ' | ' | 2,479 | 444 | 43 | 203 | 429 | 1 | 11 | 7 | 180 | 1,154 | 10 | 188 | 8 | 155 | 90 | 6 | 25 | 175 | 8 | 92 | ' | ' | ' | 24 | 16 | 879 | 22 | 13 | 31 | 194 | 129 | 204 | 58 | 12 | 22 | 5 | 452 | 3 | 691 | 118 | 6 | 91 | 49 | ' |
Number of properties in which interests were acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional interest acquired in the venture (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | 94.90% | ' | 80.00% | 49.00% | 49.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65.00% | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of properties held by each joint venture | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of properties owned by joint venture | ' | ' | ' | ' | ' | 19 | ' | ' | 36 | ' | 21 | 19 | 19 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of states in which joint venture owns properties | ' | ' | ' | ' | ' | ' | ' | ' | 18 | ' | 11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity ownership prior to the acquisition (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.10% | 20.00% | 50.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Previous equity interest, fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,300 | 31,500 | 43,500 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,400 | 8,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of notes receivable purchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note receivable purchased | ' | ' | ' | ' | ' | 5,000 | 7,875 | 50,140 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,875 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Ownership (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99.00% | 99.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership interests of third party owners (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 1.00% | ' | ' | ' | ' | ' | ' | ' | 5.80% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of joint ventures in which interests were acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of self-storage facilities (properties) acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 2 | ' | 19 | ' | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of self storage properties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8 | ' | ' | 20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash portion of payment for acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42,702 | 100,876 | ' | 100,876 | ' | ' | ' | ' | ' | ' | 29,054 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred OP units issued as part of the acquisition (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,342,727 | 407,996 | ' | ' | ' | ' | 295,107 | 407,996 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred OP units issued as part of the acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33,568 | 17,177 | ' | ' | ' | ' | 12,424 | 17,177 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of premium on loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,823 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of ownership interest sold in parcel of undeveloped land | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common OP units issued as part of the acquisition (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,448,108 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common OP units issued as part of the acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 62,341 | ' | 62,341 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defeasance costs | ' | ' | 9,153 | ' | ' | -9,153 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on condemnation of a portion of land | ' | ' | ' | ' | 800 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of self storage property which portion of land condemned | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property sold | 2,025 | 3,250 | ' | 950 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of interest in parcel of undeveloped land held by buyer as a tenant in common | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (loss) on sale of property | 0 | 160 | ' | 0 | ' | 960 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Consideration Paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,671 |
Number of acquired properties included in pro forma financial information out of total properties acquired | ' | ' | ' | ' | ' | 55 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number properties excluded from pro | ' | ' | ' | ' | ' | 23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pro forma financial information | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | 558,484 | 457,786 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to common stockholders | ' | ' | ' | ' | ' | 189,794 | 132,744 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings per common share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | ' | ' | ' | ' | ' | $1.70 | $1.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Diluted | ' | ' | ' | ' | ' | $1.70 | $1.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary of revenues and earnings related to acquisition since the acquisition date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | 17,907 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to common stockholders | ' | ' | ' | ' | ' | $6,132 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
INVESTMENTS_IN_UNCONSOLIDATED_2
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES (Details) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 20, 2012 | Feb. 17, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Nov. 03, 2013 | Dec. 31, 2013 | Dec. 03, 2013 | Dec. 31, 2013 | Dec. 03, 2013 | Dec. 31, 2013 | Feb. 13, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 13, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Jul. 02, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Nov. 30, 2013 | Nov. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 15, 2012 | Dec. 31, 2013 | Dec. 31, 2011 |
item | item | HSRE-ESP IA, LLC (HSRE) | HSRE-ESP IA, LLC (HSRE) | California properties acquired | California properties acquired | California properties acquired | California properties acquired | Extra Space of Eastern Avenue LLC | Extra Space of Eastern Avenue LLC | Extra Space of Eastern Avenue LLC | Extra Space of Eastern Avenue LLC | Extra Space of Montrose Avenue LLC | Extra Space of Montrose Avenue LLC | Extra Space of Montrose Avenue LLC | Extra Space of Montrose Avenue LLC | Extra Space West One LLC (ESW) | Extra Space West One LLC (ESW) | Extra Space West One LLC (ESW) | Extra Space West Two LLC (ESW II) | Extra Space West Two LLC (ESW II) | Extra Space West Two LLC (ESW II) | Extra Space Northern Properties Six LLC (ESNPS) | Extra Space Northern Properties Six LLC (ESNPS) | Extra Space Northern Properties Six LLC (ESNPS) | Extra Space of Santa Monica LLC (ESSM) | Extra Space of Santa Monica LLC (ESSM) | Extra Space of Santa Monica LLC (ESSM) | Clarendon Storage Associates Limited Partnership (Clarendon) | Clarendon Storage Associates Limited Partnership (Clarendon) | Clarendon Storage Associates Limited Partnership (Clarendon) | HSRE-ESP IA, LLC (HSRE) | HSRE-ESP IA, LLC (HSRE) | HSRE-ESP IA, LLC (HSRE) | PRISA Self Storage LLC (PRISA) | PRISA Self Storage LLC (PRISA) | PRISA Self Storage LLC (PRISA) | PRISA II Self Storage LLC (PRISA II) | PRISA II Self Storage LLC (PRISA II) | PRISA II Self Storage LLC (PRISA II) | VRS Self Storage LLC (VRS) | VRS Self Storage LLC (VRS) | VRS Self Storage LLC (VRS) | WCOT Self Storage LLC (WCOT) | WCOT Self Storage LLC (WCOT) | WCOT Self Storage LLC (WCOT) | Storage Portfolio I LLC (SP I) | Storage Portfolio I LLC (SP I) | Storage Portfolio I LLC (SP I) | Storage Portfolio I LLC (SP I) | Storage Portfolio I LLC (SP I) | Other unconsolidated real estate ventures | Other unconsolidated real estate ventures | Other unconsolidated real estate ventures | Other unconsolidated real estate ventures | Other unconsolidated real estate ventures | PRISA III Self Storage LLC (PRISA III) | PRISA III Self Storage LLC (PRISA III) | PRISA III Self Storage LLC (PRISA III) | Storage Portfolio Bravo II (SPB II) | Storage Portfolio Bravo II (SPB II) | Storage Portfolio Bravo II (SPB II) | Storage Portfolio Bravo II (SPB II) | U-Storage de Mexico S.A and related entities (U-Storage) | U-Storage de Mexico S.A and related entities (U-Storage) | Extra Space Joint Ventures with Everest Real Estate Fund (Everest) | ||||
property | property | property | property | property | Series C Units | Series C Units | property | property | Minimum | Maximum | Minimum | Maximum | property | property | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Real estate joint ventures of the entity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Ownership (as a percent) | ' | ' | ' | ' | ' | 99.00% | 99.00% | ' | ' | ' | ' | ' | 58.00% | ' | ' | ' | ' | ' | 39.00% | 5.00% | ' | ' | 5.00% | ' | ' | 10.00% | ' | ' | 48.00% | ' | ' | 50.00% | ' | ' | 99.00% | ' | ' | 2.00% | ' | ' | 2.00% | ' | ' | 45.00% | ' | ' | 5.00% | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | 18.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Excess Profit Participation (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' | ' | ' | ' | 50.00% | 40.00% | ' | ' | 40.00% | ' | ' | 35.00% | ' | ' | 48.00% | ' | ' | 50.00% | ' | ' | 99.00% | ' | ' | 17.00% | ' | ' | 17.00% | ' | ' | 54.00% | ' | ' | 20.00% | ' | ' | ' | ' | ' | 25.00% | 40.00% | ' | ' | ' | 19.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment balance | ' | ' | $88,125 | $106,313 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,305 | ' | ' | $1,173 | ' | ' | $138 | $413 | ' | $4,286 | $4,404 | ' | $263 | $626 | ' | $2,541 | $2,655 | ' | $3,155 | $3,160 | ' | ' | $12,506 | ' | $10,737 | $10,972 | ' | $9,143 | $9,331 | ' | $41,810 | $43,107 | ' | $4,145 | $4,315 | ' | $12,343 | $12,587 | ' | ' | ' | ($436) | ($1,241) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of previously unconsolidated entities that were required to be consolidated | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of joint ventures in which interests were acquired | ' | ' | ' | ' | ' | ' | ' | 5 | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of properties held by each joint venture | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash portion of payment for acquisition | ' | ' | ' | ' | ' | ' | ' | 29,054 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred OP units issued as part of the acquisition (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 295,107 | 407,996 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred OP units issued as part of the acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,424 | 17,177 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional interest acquired in the venture (as a percent) | ' | ' | ' | ' | ' | 49.00% | 49.00% | 65.00% | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Consideration Paid | ' | ' | 413,778 | 563,107 | ' | 43,475 | 43,475 | ' | 42,702 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership interests of third party owners (as a percent) | ' | ' | ' | ' | ' | 1.00% | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value of ownership interest of third party owners | ' | ' | ' | ' | ' | 870 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Previous equity interest, fair value | ' | ' | ' | ' | ' | 43,500 | 0 | 8,400 | 8,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership interest acquired in joint venture (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48.00% | ' | ' | ' | 61.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 94.90% | ' | ' | ' | 80.00% | ' | ' | ' | ' | ' |
Number of self-storage facilities (properties) acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36 | ' | ' | ' | 21 | ' | ' | ' | ' | ' |
Number of properties owned by joint venture | ' | ' | 19 | ' | ' | 19 | 19 | ' | ' | ' | ' | 1 | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid for acquiring equity interest in the joint venture | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,979 | ' | ' | ' | 6,878 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-cash gain | ' | ' | 46,032 | 23,670 | ' | 34,137 | ' | 9,340 | 9,340 | ' | ' | 2,215 | ' | ' | ' | 341 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,499 | 13,499 | ' | 10,171 | ' | ' | ' | ' | ' | ' |
Number of joint ventures dissolved | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity ownership percentage in joint venture, prior to dissolution and final distribution | 20.00% | 40.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity ownership prior to the acquisition (as a percent) | ' | ' | ' | ' | ' | 50.00% | 50.00% | 35.00% | 35.00% | ' | ' | 52.00% | ' | ' | ' | 39.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.10% | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' |
Cash gain on sale of investment in joint venture | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Gain recognized from dissolution of joint venture | 1,409 | 5,550 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional contributions | ' | ' | 1,516 | 1,423 | 4,088 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Promissory notes to purchase interest in joint venture | ' | ' | ' | 8,584 | 4,850 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes payable assumed | ' | ' | 110,803 | 150,284 | 132,327 | 96,516 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of states in which joint venture owns properties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18 | ' | ' | ' | 11 | ' | ' | ' | ' | ' |
Percentage of interest in a joint venture sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' |
Aggregate consideration received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,841 | ' | ' |
Cash consideration received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,492 | ' | ' |
Issuance of notes receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,349 | ' | ' |
Balance of note receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 747 | ' |
Equity in earnings of real estate ventures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in earnings (losses) | ' | ' | 11,653 | 10,859 | 7,287 | ' | ' | ' | ' | ' | ' | ' | 461 | 157 | 137 | ' | -20 | -46 | ' | 1,406 | 1,263 | 1,156 | 50 | 26 | -8 | 461 | 382 | 338 | 369 | 314 | 114 | 516 | 471 | 465 | 1,428 | 1,298 | 388 | 890 | 821 | 674 | 703 | 643 | 530 | 3,464 | 2,849 | 2,279 | 448 | 370 | 92 | 1,243 | 1,103 | -116 | ' | ' | 214 | 565 | 565 | ' | ' | ' | 187 | 330 | ' | ' | 430 | 301 | ' | ' | 88 |
Amortization amount of excess purchase price included in equity earnings | ' | ' | $25,713 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization period of excess purchase price included in equity earnings | ' | ' | '40 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
INVESTMENTS_IN_UNCONSOLIDATED_3
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES (Details 2) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Extra Space West One LLC (ESW) | ' |
Information (unaudited) related to the real estate ventures' debt | ' |
Loan Amount - Fixed | $16,700 |
Current Interest Rate (as a percent) | 5.00% |
Extra Space West Two LLC (ESW II) | ' |
Information (unaudited) related to the real estate ventures' debt | ' |
Loan Amount - Swapped to fixed | 19,327 |
Current Interest Rate (as a percent) | 3.57% |
Extra Space Northern Properties Six LLC (ESNPS) | ' |
Information (unaudited) related to the real estate ventures' debt | ' |
Loan Amount - Fixed | 34,500 |
Current Interest Rate (as a percent) | 5.27% |
Extra Space of Santa Monica LLC (ESSM) | ' |
Information (unaudited) related to the real estate ventures' debt | ' |
Loan Amount - Variable | 11,125 |
Current Interest Rate (as a percent) | 2.19% |
Clarendon Storage Associates Limited Partnership (Clarendon) | ' |
Information (unaudited) related to the real estate ventures' debt | ' |
Loan Amount - Swapped to fixed | 8,024 |
Current Interest Rate (as a percent) | 5.93% |
VRS Self Storage LLC (VRS) | ' |
Information (unaudited) related to the real estate ventures' debt | ' |
Loan Amount - Swapped to fixed | 52,100 |
Current Interest Rate (as a percent) | 3.34% |
WCOT Self Storage LLC (WCOT) | ' |
Information (unaudited) related to the real estate ventures' debt | ' |
Loan Amount - Swapped to fixed | 87,500 |
Current Interest Rate (as a percent) | 3.34% |
Storage Portfolio I LLC (SP I) | ' |
Information (unaudited) related to the real estate ventures' debt | ' |
Loan Amount - Fixed | 93,994 |
Current Interest Rate (as a percent) | 4.66% |
Other unconsolidated real estate ventures | ' |
Information (unaudited) related to the real estate ventures' debt | ' |
Loan Amount | $25,504 |
INVESTMENTS_IN_UNCONSOLIDATED_4
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES (Details 3) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Assets: | ' | ' | ' |
Net real estate assets | $1,474,754 | $1,633,402 | ' |
Other | 33,788 | 33,103 | ' |
Total | 1,508,542 | 1,666,505 | ' |
Liabilities and member's equity: | ' | ' | ' |
Notes payable | 304,121 | 404,630 | ' |
Other liabilities | 22,040 | 27,383 | ' |
Member's equity | 1,182,381 | 1,234,492 | ' |
Total | 1,508,542 | 1,666,505 | ' |
Statements of Operations: | ' | ' | ' |
Rents and other income | 260,487 | 266,222 | 304,499 |
Expenses | 149,595 | 164,285 | 217,114 |
Net income | $110,892 | $101,937 | $87,385 |
INVESTMENTS_IN_UNCONSOLIDATED_5
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES (Details 4) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
item | |
Variable Interests in Unconsolidated Real Estate Joint Ventures: | ' |
Management fees charged from unconsolidated VIE (as a percent) | 6.00% |
Number of consolidated VIEs | 0 |
Variable Interest Entity, not primary beneficiary | ' |
Variable Interests in Unconsolidated Real Estate Joint Ventures: | ' |
Number of interests in unconsolidated VIE joint ventures | 1 |
Equity Ownership (as a percent) | 18.00% |
Profit interest in unconsolidated joint venture (as a percent) | 50.00% |
Voting rights in unconsolidated VIE joint ventures (as a percent) | 50.00% |
Management fees charged from unconsolidated VIE (as a percent) | 6.00% |
Liability related to guarantee recorded | 0 |
Variable Interest Entity, not primary beneficiary | Extra Space of Sacramento One LLC | ' |
Variable Interests in Unconsolidated Real Estate Joint Ventures: | ' |
Investment balance | -1,096 |
Balance of guaranteed loan | 4,307 |
Amounts Payable to the Company | 6,283 |
Maximum exposure to loss | 9,494 |
Difference | -9,494 |
OTHER_ASSETS_Details
OTHER ASSETS (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Components of other assets | ' | ' |
Equipment and fixtures | $21,774 | $15,090 |
Less: accumulated depreciation | -12,805 | -10,223 |
Other intangible assets | 6,460 | 3,434 |
Deferred financing costs, net | 21,881 | 19,783 |
Prepaid expenses and deposits | 8,355 | 7,934 |
Receivables, net | 32,025 | 19,881 |
Investments in Trusts | 3,590 | 3,590 |
Income taxes receivable | 1,845 | 3,609 |
Fair value of interest rate swaps | 13,630 | ' |
Deferred tax assets | ' | 3,505 |
Other assets, net | $96,755 | $66,603 |
NOTES_PAYABLE_Details
NOTES PAYABLE (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Notes Payable | ' | ' |
Total notes payable | 1,588,596 | 1,369,690 |
Summary of the scheduled maturities of notes payable | ' | ' |
Total notes payable | 1,588,596 | 1,369,690 |
Notes Payable: | ' | ' |
Notes Payable | ' | ' |
Notes payable at fixed rate of interest | 1,249,295 | 1,156,015 |
Notes payable at variable rate of interest | 339,301 | 213,675 |
Total notes payable | 1,588,596 | 1,369,690 |
Fixed Rate Interest | ' | ' |
Fixed rate of interest, low end of range (as a percent) | 2.80% | ' |
Fixed rate of interest, high end of range (as a percent) | 6.70% | ' |
Summary of the scheduled maturities of notes payable | ' | ' |
2014 | 29,004 | ' |
2015 | 257,432 | ' |
2016 | 156,315 | ' |
2017 | 422,215 | ' |
2018 | 137,794 | ' |
Thereafter | 585,836 | ' |
Total notes payable | 1,588,596 | 1,369,690 |
Notes Payable, Other Disclosures | ' | ' |
Interest rate floor on debt (as a percent) | 2.05% | ' |
Notes payable subject to recourse | 1,016,463 | ' |
Notes Payable: | LIBOR | ' | ' |
Variable Rate Interest | ' | ' |
Effective rate of interest, low end of range (as a percent) | 1.97% | 2.21% |
Effective rate of interest, high end of range (as a percent) | 2.27% | 3.21% |
Notes Payable: | LIBOR | Minimum | ' | ' |
Variable Rate Interest | ' | ' |
Basis spread on variable rate (as a percent) | 1.80% | ' |
Notes Payable: | LIBOR | Maximum | ' | ' |
Variable Rate Interest | ' | ' |
Basis spread on variable rate (as a percent) | 2.10% | ' |
Notes Payable: | Prime | ' | ' |
Variable Rate Interest | ' | ' |
Basis spread on variable rate (as a percent) | 3.25% | ' |
DERIVATIVES_Details
DERIVATIVES (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
item | |||
Derivatives | ' | ' | ' |
Estimated amount of unrealized gains or losses expected to be reclassified as interest expense in next fiscal year | $8,298 | ' | ' |
Number of derivative financial instruments | 22 | ' | ' |
Strike rate cash flow hedge swap agreements, low end of range (as a percent) | 2.79% | ' | ' |
Strike rate cash flow hedge swap agreements, high end of range (as a percent) | 6.32% | ' | ' |
Other assets - Fair Value of Swap Agreements | 13,630 | ' | ' |
Other liabilities - Fair Value of Swap Agreements | -3,684 | -15,228 | ' |
Swap agreements increase (decrease) in interest expenses due to interest payments | -8,917 | -6,758 | -3,771 |
Swap agreements gain (loss) recognized in OCI | 13,718 | ' | ' |
Swap agreements gain (loss) reclassified from OCI - Interest expense | -8,917 | ' | ' |
Credit risk derivative, fair value of derivatives in a net liability position | 3,684 | ' | ' |
Estimated termination value on settlement | 3,946 | ' | ' |
Low end of range | ' | ' | ' |
Derivatives | ' | ' | ' |
Notional Amounts | 4,780 | ' | ' |
High end of range | ' | ' | ' |
Derivatives | ' | ' | ' |
Notional Amounts | $96,107 | ' | ' |
NOTES_PAYABLE_TO_TRUSTS_Detail
NOTES PAYABLE TO TRUSTS (Details) (USD $) | 0 Months Ended | 1 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Jul. 27, 2010 | Jun. 30, 2010 | Jun. 30, 2010 | Jul. 31, 2005 | Jul. 31, 2005 | Jul. 31, 2005 | 31-May-05 | 31-May-05 | 31-May-05 | Apr. 30, 2005 | Apr. 30, 2005 | Apr. 30, 2005 |
Trust III | Trust II | Trust | Variable Interest Entity, not primary beneficiary | Variable Interest Entity, not primary beneficiary | Variable Interest Entity, not primary beneficiary | Variable Interest Entity, not primary beneficiary | Variable Interest Entity, not primary beneficiary | Variable Interest Entity, not primary beneficiary | Variable Interest Entity, not primary beneficiary | Variable Interest Entity, not primary beneficiary | Variable Interest Entity, not primary beneficiary | |
Preferred securities | Preferred securities | Preferred securities | Trust III | Trust III | Trust III | Trust II | Trust II | Trust II | Trust | Trust | Trust | |
Preferred securities | Common securities | Preferred securities | Common securities | Preferred securities | Common securities | |||||||
security | security | security | ||||||||||
NOTES PAYABLE TO TRUSTS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of securities | ' | ' | ' | ' | $40,000 | $1,238 | ' | $41,000 | $1,269 | ' | $35,000 | $1,083 |
Number of securities issued (in securities) | ' | ' | ' | ' | ' | 1,238 | ' | ' | 1,269 | ' | ' | 1,083 |
Proceeds from issuance of securities | ' | ' | ' | 41,238 | ' | ' | 42,269 | ' | ' | 36,083 | ' | ' |
Prepayment premium on redemption of securities | $0 | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NOTES_PAYABLE_TO_TRUSTS_Detail1
NOTES PAYABLE TO TRUSTS (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Jul. 31, 2010 | Dec. 31, 2013 | Jun. 30, 2010 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | ||
Variable Interest Entity, not primary beneficiary | Variable Interest Entity, not primary beneficiary | Variable Interest Entity, not primary beneficiary | Variable Interest Entity, not primary beneficiary | Variable Interest Entity, not primary beneficiary | Variable Interest Entity, not primary beneficiary | |||
Trusts | Trust III | Trust III | Trust II | Trust II | Trust | |||
NOTES PAYABLE TO TRUSTS | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate, fixed (as a percent) | ' | ' | ' | ' | 6.91% | ' | 6.67% | ' |
Reference rate | ' | ' | ' | 'three month LIBOR | ' | 'three month LIBOR | ' | 'three month LIBOR |
Margin added to variable rate (as a percent) | ' | ' | ' | 2.40% | ' | 2.40% | ' | 2.25% |
Interest rate swap, fixed rate of interest (as a percent) | ' | ' | ' | 4.99% | ' | 4.99% | ' | 5.62% |
Comparison of the liability balance and the maximum exposure to loss related to trusts | ' | ' | ' | ' | ' | ' | ' | ' |
Notes payable to Trusts | $119,590 | $119,590 | $119,590 | $41,238 | ' | $42,269 | ' | $36,083 |
Investment Balance | 3,590 | 3,590 | 3,590 | 1,238 | ' | 1,269 | ' | 1,083 |
Maximum exposure to loss | ' | ' | $116,000 | $40,000 | ' | $41,000 | ' | $35,000 |
EXCHANGEABLE_SENIOR_NOTES_Deta
EXCHANGEABLE SENIOR NOTES (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | |||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 21, 2013 | Dec. 31, 2013 | Jun. 21, 2013 | Jun. 21, 2013 | Mar. 27, 2007 | Apr. 30, 2012 | Apr. 26, 2012 | Mar. 01, 2012 | |
2033 Notes and 2027 Notes | 2033 Notes and 2027 Notes | 2033 Notes and 2027 Notes | 2.375% Exchangeable Senior Notes due 2033 | 2.375% Exchangeable Senior Notes due 2033 | 2.375% Exchangeable Senior Notes due 2033 | 2.375% Exchangeable Senior Notes due 2033 | 3.625% Exchangeable Senior Notes due 2027 | 3.625% Exchangeable Senior Notes due 2027 | 3.625% Exchangeable Senior Notes due 2027 | 3.625% Exchangeable Senior Notes due 2027 | ||||
Operating Partnership | Operating Partnership | Minimum | Maximum | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | |||||||
Operating Partnership | Operating Partnership | |||||||||||||
Notes payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of notes issued | ' | ' | ' | ' | ' | ' | $250,000,000 | ' | ' | ' | $250,000,000 | ' | ' | ' |
Interest rate (as a percent) | ' | ' | ' | ' | ' | ' | 2.38% | 2.38% | ' | ' | 3.63% | ' | ' | ' |
Discount rate (as a percent) | ' | ' | ' | ' | ' | ' | 1.50% | ' | ' | ' | ' | ' | ' | ' |
Issuance cost | ' | ' | ' | ' | ' | ' | 1,672,000 | ' | ' | ' | ' | ' | ' | ' |
Amortization period | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' |
Conversion ratio, number of shares per $1,000 principal amount, numerator | ' | ' | ' | ' | ' | ' | 17.96 | ' | ' | ' | ' | ' | ' | ' |
Principal amount used for debt instrument conversion ratio | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' |
Redemption price as percentage of principal amount of notes plus accrued and unpaid interest | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | 100.00% | ' | ' |
Number of days of written notice to holders of notes required for redemption | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | '60 days | ' | ' | ' | ' |
Redemption price as percentage of principal amount of notes at request of debt holders and upon occurrence of designated event | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' |
Information about the equity and the liability component of the convertible debt instruments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying amount of equity component | ' | ' | ' | ' | ' | ' | ' | -14,496,000 | ' | ' | ' | ' | ' | ' |
Principal amount of liability component | 250,000,000 | ' | ' | ' | ' | ' | ' | 250,000,000 | ' | ' | ' | 87,663,000 | ' | 87,663,000 |
Unamortized discount - equity component | ' | ' | ' | ' | ' | ' | ' | -13,131,000 | ' | ' | ' | ' | ' | ' |
Unamortized cash discount | -16,487,000 | ' | ' | ' | ' | ' | -3,750,000 | -3,356,000 | ' | ' | ' | ' | ' | ' |
Net carrying amount of liability component | ' | ' | ' | ' | ' | ' | ' | 233,513,000 | ' | ' | ' | ' | ' | ' |
Effective interest rate on the liability component (as a percent) | ' | ' | ' | ' | ' | ' | ' | 4.00% | ' | ' | 5.75% | ' | ' | ' |
Shares of common stock issued | 115,755,527 | 110,737,205 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 684,685 | ' |
Information relating to the contractual interest rate and amortization of the discount on the liability component | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contractual interest | ' | ' | ' | 3,134,000 | 790,000 | 3,178,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of discount | 1,404,000 | 444,000 | 1,761,000 | 1,404,000 | 444,000 | 1,761,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Total interest expense recognized | ' | ' | ' | $4,538,000 | $1,234,000 | $4,939,000 | ' | ' | ' | ' | ' | ' | ' | ' |
LINES_OF_CREDIT_Details
LINES OF CREDIT (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 13, 2014 |
In Thousands, unless otherwise specified | Credit Line 1 | Credit Line 2 | Credit Line 3 | Credit Line 4 | Amended Credit Line 3 | |
count | count | count | ||||
Line of Credit | ' | ' | ' | ' | ' | ' |
Capacity | $280,000 | $75,000 | $85,000 | $40,000 | $80,000 | $50,000 |
Interest Rate (as a percent) | ' | 2.07% | 2.07% | 2.37% | 1.87% | ' |
Line of credit facility variable rate basis | ' | 'LIBOR | 'LIBOR | 'LIBOR | 'LIBOR | 'LIBOR |
Basis spread on variable rate (as a percent) | ' | 1.90% | 1.90% | 2.20% | 1.70% | 1.75% |
Extension of maturity date | ' | '1 year | '2 years | '1 year | '1 year | ' |
Number of extensions to maturity date (in count) | ' | ' | 1 | 2 | 2 | ' |
OTHER_LIABILITIES_Details
OTHER LIABILITIES (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
item | item | item | |
OTHER LIABILITIES | ' | ' | ' |
Deferred rental income | $24,037 | $20,752 | ' |
Lease obligation liability | 2,076 | 3,826 | ' |
Fair value of interest rate swaps | 3,684 | 15,228 | ' |
Income taxes payable | 671 | 1,414 | ' |
Deferred tax liability | 3,481 | ' | ' |
Other miscellaneous liabilities | 4,048 | 7,028 | ' |
Other liabilities, Total | 37,997 | 48,248 | ' |
Minimum rental receivable under non-cancelable subleases | 2,352 | 3,826 | ' |
Number of claims made | 2,316 | 2,060 | 1,834 |
Roll forward of the liability of unpaid claims | ' | ' | ' |
Unpaid claims liability at beginning of year | 1,414 | 715 | ' |
Provision for current year claims | 3,817 | 3,417 | ' |
Increase (decrease) in provision for prior year claims | -116 | 22 | ' |
Payments for current year claims | -2,627 | -2,028 | ' |
Payments for prior year claims | -1,252 | -712 | ' |
Unpaid claims liability at the end of year | $1,236 | $1,414 | $715 |
RELATED_PARTY_AND_AFFILIATED_R2
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS (Details) (USD $) | 0 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 02, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ' | ' | ' |
Management fees as a percentage of cash collected from total revenues | ' | 6.00% | ' | ' |
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ' | ' | ' |
Management fee revenues | ' | $26,614 | $25,706 | $29,924 |
Receivables representing asset management fee owed | ' | ' | ' | 5,327 |
Receivables from related parties and affiliated real estate joint ventures | ' | ' | ' | ' |
Due from related Parties | ' | 7,542 | 11,078 | ' |
Mortgage notes receivable | ' | ' | ' | ' |
Receivables from related parties and affiliated real estate joint ventures | ' | ' | ' | ' |
Due from related Parties | ' | 5,818 | 7,670 | ' |
Other receivables from properties | ' | ' | ' | ' |
Receivables from related parties and affiliated real estate joint ventures | ' | ' | ' | ' |
Due from related Parties | ' | 1,724 | 3,408 | ' |
Extra Space West One LLC (ESW) | ' | ' | ' | ' |
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ' | ' | ' |
Management fee revenues | ' | 450 | 430 | 410 |
Extra Space West Two LLC (ESW II) | ' | ' | ' | ' |
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ' | ' | ' |
Management fee revenues | ' | 382 | 354 | 335 |
Extra Space Northern Properties Six LLC (ESNPS) | ' | ' | ' | ' |
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ' | ' | ' |
Management fee revenues | ' | 528 | 498 | 479 |
Extra Space of Santa Monica LLC (ESSM) | ' | ' | ' | ' |
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ' | ' | ' |
Management fee revenues | ' | 117 | 107 | 85 |
HSRE-ESP IA, LLC (HSRE) | ' | ' | ' | ' |
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ' | ' | ' |
Management fee revenues | ' | 1,146 | 1,094 | 1,045 |
PRISA Self Storage LLC (PRISA) | ' | ' | ' | ' |
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ' | ' | ' |
Management fee revenues | ' | 5,215 | 5,174 | 4,961 |
PRISA II Self Storage LLC (PRISA II) | ' | ' | ' | ' |
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ' | ' | ' |
Management fee revenues | ' | 4,397 | 4,138 | 4,016 |
PRISA III | ' | ' | ' | ' |
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ' | ' | ' |
Management fee revenues | ' | ' | 920 | 1,796 |
VRS Self Storage LLC (VRS) | ' | ' | ' | ' |
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ' | ' | ' |
Management fee revenues | ' | 1,286 | 1,207 | 1,156 |
WCOT Self Storage LLC (WCOT) | ' | ' | ' | ' |
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ' | ' | ' |
Management fee revenues | ' | 1,601 | 1,520 | 1,497 |
Storage Portfolio I LLC (SP I) | ' | ' | ' | ' |
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ' | ' | ' |
Basis points multiplied by the total asset value for asset management fee | ' | 0.50% | ' | ' |
Management fee revenues | ' | 1,953 | 1,885 | 6,392 |
Period over which asset management fee is not recorded | ' | ' | ' | '5 years |
Annual asset management fee | ' | ' | ' | 885 |
Reduction of equity in earnings | ' | ' | ' | 221 |
Amount of net income understated | ' | ' | ' | 664 |
Increase in management fee revenues to record asset management fee | ' | ' | ' | 4,425 |
Adjustment to reduce equity in earnings | ' | ' | ' | 1,106 |
Storage Portfolio Bravo II (SPB II) | ' | ' | ' | ' |
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ' | ' | ' |
Management fee revenues | ' | ' | 923 | 969 |
Extra Space Joint Ventures with Everest Real Estate Fund (Everest) | ' | ' | ' | ' |
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ' | ' | ' |
Management fee revenues | ' | 15 | 133 | 528 |
Other | ' | ' | ' | ' |
RELATED PARTY AND AFFILIATED REAL ESTATE JOINT VENTURE TRANSACTIONS | ' | ' | ' | ' |
Management fee revenues | ' | 9,524 | 7,323 | 6,255 |
Centershift | ' | ' | ' | ' |
Receivables from related parties and affiliated real estate joint ventures | ' | ' | ' | ' |
Cash paid for related party transactions | ' | 1,095 | 1,235 | 1,087 |
Contract period | '3 years | ' | ' | ' |
Buy out of remainder of contract | 1,500 | ' | ' | ' |
Payment for purchase of some source code and some equipment | 2,600 | ' | ' | ' |
SpenAero, L.C. | ' | ' | ' | ' |
Receivables from related parties and affiliated real estate joint ventures | ' | ' | ' | ' |
Cash paid for related party transactions | ' | $803 | $649 | $608 |
STOCKHOLDERS_EQUITY_Details
STOCKHOLDERS' EQUITY (Details) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Nov. 08, 2013 | Nov. 09, 2012 | Apr. 16, 2012 | 31-May-11 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
item | |||||||
STOCKHOLDERS' EQUITY | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares authorized | ' | ' | ' | ' | 300,000,000 | 300,000,000 | ' |
Common stock, par value per share (in dollars per share) | ' | ' | ' | ' | $0.01 | $0.01 | ' |
Preferred stock, shares authorized | ' | ' | ' | ' | 50,000,000 | 50,000,000 | ' |
Preferred stock, par value per share (in dollars per share) | ' | ' | ' | ' | $0.01 | $0.01 | ' |
Preferred stock, shares issued | ' | ' | ' | ' | 0 | 0 | ' |
Preferred stock, shares outstanding | ' | ' | ' | ' | 0 | 0 | ' |
Common stock, shares issued | ' | ' | ' | ' | 115,755,527 | 110,737,205 | ' |
Common stock, shares outstanding | ' | ' | ' | ' | 115,755,527 | 110,737,205 | ' |
Number of votes, common stock holder rights | ' | ' | ' | ' | 1 | ' | ' |
Common stock, voting rights | ' | ' | ' | ' | 'All holders of the Company's common stock are entitled to receive dividends and to one vote on all matters submitted to a vote of stockholders. | ' | ' |
Public stock offering (in shares) | 4,500,000 | 5,980,000 | 8,050,000 | 5,335,423 | ' | ' | ' |
Offer price of shares of common stock sold in a public offering (in dollars per share) | $45.81 | $33.98 | $28.22 | $21.16 | ' | ' | ' |
Gross proceeds from issuance of common stock | $206,145 | $203,200 | $227,171 | $112,898 | ' | ' | ' |
Transaction costs of stock issuance | 157 | 300 | 483 | 549 | ' | ' | ' |
Net proceeds from issuance of common stock | $205,988 | $202,900 | $226,688 | $112,349 | $205,988 | $429,588 | $112,349 |
NONCONTROLLING_INTEREST_REPRES1
NONCONTROLLING INTEREST REPRESENTED BY PREFERRED OPERATING PARTNERSHIP UNITS (Details) (USD $) | 12 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | ||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2007 | Dec. 02, 2013 | Dec. 03, 2013 | Sep. 26, 2013 | Aug. 29, 2013 | Jun. 30, 2007 | Jun. 30, 2007 | Dec. 31, 2013 | Sep. 26, 2013 | Dec. 31, 2013 | Dec. 03, 2013 | Jun. 30, 2007 | Jun. 25, 2007 |
Series B Units | Series C Units | Holders of A units | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | ||||
item | Series A Units | property | property | property | property | Series A Units | Series A Units | Series B Units | Series B Units | Series C Units | Holders of A units | Holders of A units | ||||||
Noncontrolling interest represented by preferred operating partnership units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of self-storage facilities (properties) acquired | ' | ' | ' | ' | ' | ' | 6 | 2 | ' | 19 | 10 | ' | ' | ' | ' | ' | ' | ' |
Preferred OP units issued as part of the acquisition (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 989,980 | ' | 1,342,727 | ' | 407,996 | ' | ' |
Loan to holders of preferred OP units | $100,000 | $100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100,000 |
Note receivable interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.85% | ' |
Maximum number of preferred OP units converted prior to the maturity date of the loan (in shares) | ' | ' | ' | ' | ' | 114,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fixed priority return on preferred OP units, amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 115,000 | ' | ' | ' | ' | ' |
Fixed priority return on preferred OP units, stated return rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' |
Fixed priority return on preferred OP units, liquidation value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 115,000 | ' | ' | ' | ' | ' |
Number of self storage properties | ' | ' | ' | ' | ' | ' | 8 | ' | ' | 20 | ' | ' | ' | ' | ' | ' | ' | ' |
Cash portion of payment for acquisition | ' | ' | ' | ' | ' | ' | ' | 42,702 | 100,876 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Assumed | 110,803 | 150,284 | 132,327 | ' | ' | ' | ' | 4,342 | 98,960 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred OP units issued as part of the acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33,568 | ' | 17,177 | ' | ' |
Common OP units issued as part of the acquisition (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 1,448,108 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common OP units issued as part of the acquisition | ' | ' | ' | ' | ' | ' | ' | ' | $62,341 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liquidation value (in dollars per share) | ' | ' | ' | $25 | $42.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual rate of return (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | ' | ' | ' |
Ownership interest in 4 of the 8 properties through joint ventures prior to the acquisition | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of self-storage properties in which ownership interest was held prior to acquisition of remaining properties | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly distribution per preferred OP unit payable above quarterly distribution for common OP Unit | ' | ' | ' | ' | $0.18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of quarters immediately preceding the fifth anniversary of issuance for which distribution is payable | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period from date of issuance after which preferred OP units will become redeemable at the option of the holder | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period from date of issuance after which preferred OP units will become convertible into common OP units at the option of the holder | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred OP units conversion ratio | ' | ' | ' | ' | 0.9145 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NONCONTROLLING_INTEREST_IN_OPE1
NONCONTROLLING INTEREST IN OPERATING PARTNERSHIP (Details) (USD $) | 12 Months Ended | 0 Months Ended | 1 Months Ended | |||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 26, 2013 | Oct. 31, 2013 | Sep. 26, 2013 | Apr. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Apr. 30, 2012 | Dec. 31, 2013 |
property | property | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | Operating Partnership | |
property | ||||||||||
Noncontrolling interest in operating partnership | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership interest held by entity (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 94.20% |
Noncontrolling interest in operating partnership (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.80% |
Common OP units outstanding (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,334,118 |
Period used as a denomination to determine the average closing price of common stock | '10 days | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common OP units conversion basis | 'one-for-one basis | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ten day average closing stock price (in dollars per share) | $42.05 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consideration to be paid on redemption of common OP units | $182,250 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of units redeemed during the period (in units) | ' | ' | ' | 12,500 | ' | ' | ' | 304,817 | ' | ' |
Number of units redeemed for cash during the period (in units) | ' | ' | ' | ' | ' | 1,000 | 1,000 | ' | 5,475 | ' |
Cash consideration paid on redemption of common OP units | 0 | ' | ' | ' | ' | 41 | 41 | ' | 155 | ' |
Number of properties purchased | 78 | 91 | ' | ' | 20 | ' | ' | ' | ' | ' |
Common OP units issued as part of the acquisition (in shares) | ' | ' | 1,448,108 | ' | ' | ' | ' | ' | ' | ' |
Common OP units issued as part of the acquisition | ' | ' | $62,341 | ' | $62,341 | ' | ' | ' | ' | ' |
OTHER_NONCONTROLLING_INTERESTS1
OTHER NONCONTROLLING INTERESTS (Details) (USD $) | 1 Months Ended | |||||||
In Thousands, unless otherwise specified | Nov. 30, 2013 | 31-May-13 | Feb. 28, 2013 | Dec. 31, 2013 | Feb. 27, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
property | property | property | Other noncontrolling interests | Other noncontrolling interests | Other noncontrolling interests | |||
property | Minimum | Maximum | ||||||
Other Noncontrolling Interests | ' | ' | ' | ' | ' | ' | ' | ' |
Number of consolidated self-storage properties | ' | ' | ' | ' | ' | 2 | ' | ' |
Number of properties under construction | ' | ' | ' | 1 | ' | ' | ' | ' |
Number of properties owned by consolidated joint venture | ' | ' | ' | 19 | ' | ' | ' | ' |
Ownership interests of third party owners (as a percent) | ' | ' | ' | ' | ' | ' | 1.00% | 3.30% |
Number of joint venture partners in a consolidated self-storage property in which ownership interest was acquired | ' | 1 | 1 | ' | ' | ' | ' | ' |
Purchase of capital interest by entity in a joint venture partner of a consolidated property (as a percent) | 10.00% | 27.60% | 1.70% | ' | ' | ' | ' | ' |
Purchase of profit interest by the entity in a joint venture partner of a consolidated property (as a percent) | ' | 35.00% | 17.00% | ' | ' | ' | ' | ' |
Cash paid for acquiring interest in a joint venture partner of a consolidated property | $1,292 | $950 | $200 | ' | ' | ' | ' | ' |
Ownership interest held by entity in joint venture partner of a consolidated property prior to acquisition (as a percent) | ' | ' | ' | ' | 95.00% | ' | ' | ' |
Ownership interest held by entity in joint venture partner of a consolidated property (as a percent) | ' | ' | ' | ' | 96.70% | ' | ' | ' |
STOCKBASED_COMPENSATION_Detail
STOCK-BASED COMPENSATION (Details) | 12 Months Ended |
Dec. 31, 2013 | |
STOCK BASED COMPENSATION | ' |
Shares available for issuance under plans | 2,390,415 |
Stock options | ' |
STOCK BASED COMPENSATION | ' |
Vesting period | '4 years |
Expiration period, minimum | '10 years |
Restricted stock | ' |
STOCK BASED COMPENSATION | ' |
Vesting period | '4 years |
STOCKBASED_COMPENSATION_Detail1
STOCK-BASED COMPENSATION (Details 2) (Stock options, USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stock options | ' | ' | ' |
Stock options activity | ' | ' | ' |
Balance at the beginning of the period (in shares) | 1,097,092 | 1,798,861 | 3,105,905 |
Granted (in shares) | 49,075 | 67,084 | 110,900 |
Exercised (in shares) | -391,543 | -768,853 | -1,388,269 |
Forfeited (in shares) | ' | ' | -29,675 |
Balance at the end of the period (in shares) | 754,624 | 1,097,092 | 1,798,861 |
Vested and expected to vest (in shares) | 734,400 | ' | ' |
Exercisable at the end of the period (in shares) | 556,191 | ' | ' |
Weighted Average Exercise Price | ' | ' | ' |
Balance at the beginning of the period (in dollars per share) | $13.89 | $13.25 | $13.13 |
Granted (in dollars per share) | $38.40 | $27.18 | $19.60 |
Exercised (in dollars per share) | $14.81 | $13.55 | $13.44 |
Forfeited (in dollars per share) | ' | ' | $15.65 |
Balance at the end of the period (in dollars per share) | $15 | $13.89 | $13.25 |
Vested and Expected to Vest (in dollars per share) | $14.52 | ' | ' |
Exercisable at the end of the period (in dollars per share) | $11.84 | ' | ' |
Weighted Average Remaining Contractual Term | ' | ' | ' |
Outstanding at the beginning of the period | '5 years 1 month 6 days | ' | ' |
Outstanding at the end of the period | '5 years 1 month 6 days | ' | ' |
Vested and Expected to Vest | '5 years 4 days | ' | ' |
Exercisable at the end of the period | '4 years 2 months 16 days | ' | ' |
Aggregate intrinsic value | ' | ' | ' |
Outstanding at the end of the period | $20,471 | ' | ' |
Vested and Expected to Vest at the end of the period | 20,276 | ' | ' |
Exercisable at the end of the period | $16,847 | ' | ' |
Weighted average fair value of stock options granted (in dollars per share) | $9.74 | $6.64 | $5.39 |
Weighted average assumptions used to estimate fair value of option | ' | ' | ' |
Expected volatility (as a percent) | 42.00% | 44.00% | 45.00% |
Dividend yield (as a percent) | 4.00% | 5.00% | 5.00% |
Risk-free interest rate (as a percent) | 1.00% | 1.00% | 2.00% |
Average expected term | '5 years | '5 years | '5 years |
Weighted average forfeiture rate (as a percent) | 5.00% | ' | ' |
STOCKBASED_COMPENSATION_Detail2
STOCK-BASED COMPENSATION (Details 3) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Exercise price range $6.22-$11.50 | ' |
Information about non-qualified stock options, by exercise price | ' |
Exercise price range, lower limit (in dollars per share) | $6.22 |
Exercise price range, upper limit (in dollars per share) | $11.50 |
Options outstanding | ' |
Shares | 191,465 |
Weighted Average Remaining Contractual Life | '5 years 1 month 17 days |
Weighted Average Exercise Price (in dollars per share) | $6.22 |
Options exercisable | ' |
Shares | 191,465 |
Weighted Average Exercise Price (in dollars per share) | $6.22 |
Exercise price range $11.51-$12.50 | ' |
Information about non-qualified stock options, by exercise price | ' |
Exercise price range, lower limit (in dollars per share) | $11.51 |
Exercise price range, upper limit (in dollars per share) | $12.50 |
Options outstanding | ' |
Shares | 192,960 |
Weighted Average Remaining Contractual Life | '4 years 9 months 29 days |
Weighted Average Exercise Price (in dollars per share) | $12.06 |
Options exercisable | ' |
Shares | 134,315 |
Weighted Average Exercise Price (in dollars per share) | $12.17 |
Exercise price range $12.51-$15.50 | ' |
Information about non-qualified stock options, by exercise price | ' |
Exercise price range, lower limit (in dollars per share) | $12.51 |
Exercise price range, upper limit (in dollars per share) | $15.50 |
Options outstanding | ' |
Shares | 143,700 |
Weighted Average Remaining Contractual Life | '2 years 6 months 22 days |
Weighted Average Exercise Price (in dollars per share) | $14.76 |
Options exercisable | ' |
Shares | 143,700 |
Weighted Average Exercise Price (in dollars per share) | $14.76 |
Exercise price range $15.51-$19.60 | ' |
Information about non-qualified stock options, by exercise price | ' |
Exercise price range, lower limit (in dollars per share) | $15.51 |
Exercise price range, upper limit (in dollars per share) | $19.60 |
Options outstanding | ' |
Shares | 116,350 |
Weighted Average Remaining Contractual Life | '5 years 3 months 25 days |
Weighted Average Exercise Price (in dollars per share) | $18.37 |
Options exercisable | ' |
Shares | 75,950 |
Weighted Average Exercise Price (in dollars per share) | $17.71 |
Exercise price range $19.61-$38.40 | ' |
Information about non-qualified stock options, by exercise price | ' |
Exercise price range, lower limit (in dollars per share) | $19.61 |
Exercise price range, upper limit (in dollars per share) | $38.40 |
Options outstanding | ' |
Shares | 110,149 |
Weighted Average Remaining Contractual Life | '8 years 7 months 10 days |
Weighted Average Exercise Price (in dollars per share) | $32.20 |
Options exercisable | ' |
Shares | 10,761 |
Weighted Average Exercise Price (in dollars per share) | $27.35 |
Exercise price range $6.22-$38.40 | ' |
Information about non-qualified stock options, by exercise price | ' |
Exercise price range, lower limit (in dollars per share) | $6.22 |
Exercise price range, upper limit (in dollars per share) | $38.40 |
Options outstanding | ' |
Shares | 754,624 |
Weighted Average Remaining Contractual Life | '5 years 1 month 6 days |
Weighted Average Exercise Price (in dollars per share) | $15 |
Options exercisable | ' |
Shares | 556,191 |
Weighted Average Exercise Price (in dollars per share) | $11.84 |
STOCKBASED_COMPENSATION_Detail3
STOCK-BASED COMPENSATION (Details 4) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stock-based compensation | ' | ' | ' |
Cash received related to option exercise | $5,896 | $10,267 | $18,622 |
Stock options | ' | ' | ' |
Stock-based compensation | ' | ' | ' |
Compensation expense recorded during the period in general and administrative expense | 536 | 585 | 942 |
Cash received related to option exercise | 5,896 | 10,267 | 18,622 |
Unrecognized compensation expense | 704 | ' | ' |
Weighted-average period for recognition of unrecognized compensation expense | '1 year 7 months 6 days | ' | ' |
Restricted stock | ' | ' | ' |
Stock-based compensation | ' | ' | ' |
Compensation expense recorded during the period in general and administrative expense | 4,283 | 3,771 | 4,815 |
Weighted average forfeiture rate (as a percent) | 9.70% | ' | ' |
Unrecognized compensation expense | $6,659 | ' | ' |
Weighted-average period for recognition of unrecognized compensation expense | '1 year 11 months 12 days | ' | ' |
Restricted Stock Grants | ' | ' | ' |
Balance at the beginning of the period (in shares) | 540,272 | 662,766 | 891,124 |
Granted (in shares) | 137,602 | 182,052 | 226,630 |
Released (in shares) | -259,191 | -287,754 | -407,293 |
Cancelled (in shares) | -23,323 | -16,792 | -47,695 |
Balance at the end of the period (in shares) | 395,360 | 540,272 | 662,766 |
Weighted-Average Grant-Date Fair Value | ' | ' | ' |
Balance at the beginning of the period (in dollars per share) | $17.93 | $12.81 | $10.62 |
Granted (in dollars per share) | $39.51 | $28.39 | $20.09 |
Released (in dollars per share) | $15.11 | $12.98 | $11.91 |
Cancelled (in dollars per share) | $23.62 | $14.03 | $14.31 |
Balance at the end of the period (in dollars per share) | $26.96 | $17.93 | $12.81 |
EMPLOYEE_BENEFIT_PLAN_Details
EMPLOYEE BENEFIT PLAN (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Retirement savings plan under Section 401(k) of the Internal Revenue Code | ' | ' | ' |
Employee contribution to retirement saving plan as a percentage of annual salary, maximum | 15.00% | ' | ' |
Matching contributions made by the entity during the period | $1,013 | $894 | $832 |
Percentage of company's matching contributions of first 3 percent of employee's compensation | 100.00% | ' | ' |
Percentage of employee's compensation that qualifies for 100 percent matching contribution by the company | 3.00% | ' | ' |
Maximum percentage of the company's matching contributions of next 2 percent of employee's compensation | 50.00% | ' | ' |
Percentage of employee's compensation that qualifies for 50 percent matching contribution by the company | 2.00% | ' | ' |
INCOME_TAXES_Details
INCOME TAXES (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income tax provision | ' | ' | ' |
Current expense, federal | $9,572 | $8,240 | $1,350 |
Current expense, state | 615 | 612 | 606 |
Current expense, Total | 10,187 | 8,852 | 1,956 |
Tax credit, Federal | -4,556 | -5,528 | -6,849 |
Tax credit, Total | -4,556 | -5,528 | -6,849 |
Change in deferred benefit, Federal | 4,353 | 2,089 | 6,048 |
Change in deferred benefit, Total | 4,353 | 2,089 | 6,048 |
Income tax expense, Federal | 9,369 | 4,801 | 549 |
Income tax expense, State | 615 | 612 | 606 |
Total tax expense | 9,984 | 5,413 | 1,155 |
Reconciliation of effective income tax amount | ' | ' | ' |
Expected tax at statutory rate | 67,012 | 46,586 | ' |
Non-taxable REIT income | -53,519 | -37,729 | ' |
State and local tax expense (benefit) - net of federal benefit | 615 | 612 | ' |
Change in valuation allowance | 435 | 1,641 | ' |
Tax Credits (WOTC & Solar) | -4,562 | -5,528 | ' |
Miscellaneous | 3 | -169 | ' |
Total tax expense | 9,984 | 5,413 | 1,155 |
Reconciliation of the statutory income tax provisions to the effective income tax provisions | ' | ' | ' |
Expected tax at statutory rate (as a percent) | 35.00% | 35.00% | ' |
Non-taxable REIT income (as a percent) | -27.90% | -28.30% | ' |
State and local tax expense (benefit) - net of federal benefit (as a percent) | 0.30% | 0.50% | ' |
Change in valuation allowance (as a percent) | 0.20% | 1.20% | ' |
Tax credits (WOTC & Solar) (as a percent) | -2.40% | -4.20% | ' |
Miscellaneous (as a percent) | 0.00% | -0.10% | ' |
Total provision (as a percent) | 5.20% | 4.10% | ' |
Deferred Tax Liabilities: | ' | ' | ' |
Fixed Assets | -14,557 | -9,951 | ' |
Other | -663 | -340 | ' |
Total Deferred Tax Liabilities | -15,220 | -10,291 | ' |
Deferred Tax Assets: | ' | ' | ' |
Capitive Insurance Subsidiary | 400 | 385 | ' |
Accrued liabilities | 1,043 | 1,193 | ' |
Stock compensation | 1,394 | 1,333 | ' |
Solar credit | 8,480 | 10,313 | ' |
Other | 422 | 572 | ' |
State Deferreds | 4,570 | 4,135 | ' |
Total Deferred Tax Assets | 16,309 | 17,931 | ' |
Valuation allowance | -4,570 | -4,135 | ' |
Net deferred income tax assets/(liabilities) | ' | 3,505 | ' |
Net deferred income tax assets/(liabilities) | ($3,481) | ' | ' |
SEGMENT_INFORMATION_Details
SEGMENT INFORMATION (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Sep. 26, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
segment | ||||||||||||
SEGMENT INFORMATION | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of reportable segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' |
Balance Sheet | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment in unconsolidated real estate ventures | ' | $88,125 | ' | ' | ' | $106,313 | ' | ' | ' | $88,125 | $106,313 | ' |
Total assets | ' | 3,977,140 | ' | ' | ' | 3,223,477 | ' | ' | ' | 3,977,140 | 3,223,477 | ' |
Statement of Operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | 141,934 | 133,111 | 126,246 | 119,322 | 113,667 | 109,791 | 94,951 | 90,987 | 520,613 | 409,396 | 329,830 |
Operating expenses, including depreciation and amortization | ' | 84,619 | 77,047 | 72,871 | 72,593 | 70,555 | 66,307 | 57,076 | 58,217 | 307,130 | 252,155 | 214,354 |
Income (loss) from operations | ' | 57,315 | 56,064 | 53,375 | 46,729 | 43,112 | 43,484 | 37,875 | 32,770 | 213,483 | 157,241 | 115,476 |
Gain on sale of real estate assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 960 | ' | ' |
Loss on extinguishment of debt related to portfolio acquisition | 9,153 | ' | ' | ' | ' | ' | ' | ' | ' | -9,153 | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | -71,630 | -71,850 | -67,301 |
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,404 | -444 | -1,761 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 749 | 1,816 | 1,027 |
Interest income on note receivable from Preferred Operating Partnership unit holder | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,850 | 4,850 | 4,850 |
Equity in earnings of unconsolidated real estate ventures | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,653 | 10,859 | 7,287 |
Equity in earnings of unconsolidated real estate ventures-gain on sale of real estate assets and purchase of joint venture partners interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46,032 | 30,630 | ' |
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9,984 | -5,413 | -1,155 |
Net income (loss) | ' | 82,172 | 32,352 | 37,101 | 33,931 | 38,873 | 41,553 | 24,745 | 22,518 | 185,556 | 127,689 | 58,423 |
Depreciation and amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total depreciation and amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 95,232 | 74,453 | 58,014 |
Statement of Cash Flows | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition, development and redevelopment of real estate assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | -356,425 | -605,486 | -202,019 |
Rental operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance Sheet | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment in unconsolidated real estate ventures | ' | 88,125 | ' | ' | ' | 106,313 | ' | ' | ' | 88,125 | 106,313 | ' |
Total assets | ' | 3,641,746 | ' | ' | ' | 2,996,453 | ' | ' | ' | 3,641,746 | 2,996,453 | ' |
Statement of Operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 446,682 | 346,874 | 268,725 |
Operating expenses, including depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 229,229 | 184,540 | 150,199 |
Income (loss) from operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | 217,453 | 162,334 | 118,526 |
Gain on sale of real estate assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | 960 | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | -69,702 | -70,472 | -66,598 |
Equity in earnings of unconsolidated real estate ventures | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,653 | 10,859 | 7,287 |
Equity in earnings of unconsolidated real estate ventures-gain on sale of real estate assets and purchase of joint venture partners interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46,032 | 30,630 | ' |
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | -149 | -660 | -696 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 206,247 | 132,691 | 58,519 |
Depreciation and amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total depreciation and amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 89,217 | 70,512 | 54,718 |
Tenant reinsurance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance Sheet | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | ' | 34,393 | ' | ' | ' | 27,645 | ' | ' | ' | 34,393 | 27,645 | ' |
Statement of Operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,317 | 36,816 | 31,181 |
Operating expenses, including depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,022 | 7,869 | 6,143 |
Income (loss) from operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,295 | 28,947 | 25,038 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17 | 12 | 11 |
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | -13,409 | -10,399 | -8,767 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24,903 | 18,560 | 16,282 |
Property management, acquisition and development | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance Sheet | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | ' | 301,001 | ' | ' | ' | 199,379 | ' | ' | ' | 301,001 | 199,379 | ' |
Statement of Operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,614 | 25,706 | 29,924 |
Operating expenses, including depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | 68,879 | 59,746 | 58,012 |
Income (loss) from operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | -42,265 | -34,040 | -28,088 |
Loss on extinguishment of debt related to portfolio acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9,153 | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,928 | -1,378 | -703 |
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,404 | -444 | -1,761 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 732 | 1,804 | 1,016 |
Interest income on note receivable from Preferred Operating Partnership unit holder | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,850 | 4,850 | 4,850 |
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,574 | 5,646 | 8,308 |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -45,594 | -23,562 | -16,378 |
Depreciation and amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total depreciation and amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,015 | 3,941 | 3,296 |
Statement of Cash Flows | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition, development and redevelopment of real estate assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($356,425) | ($605,486) | ($202,019) |
COMMITMENTS_AND_CONTINGENCIES_1
COMMITMENTS AND CONTINGENCIES (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
facility | |||
COMMITMENTS AND CONTINGENCIES | ' | ' | ' |
Number of owned self-storage facilities that have leases | 18 | ' | ' |
Future minimum rental payments under operating lease | ' | ' | ' |
Less than 1 year | $7,806 | ' | ' |
Year 2 | 5,690 | ' | ' |
Year 3 | 4,565 | ' | ' |
Year 4 | 3,274 | ' | ' |
Year 5 | 2,660 | ' | ' |
Thereafter | 45,862 | ' | ' |
Total | 69,857 | ' | ' |
Expense related to ground leases | 2,983 | 2,830 | 2,799 |
Extra Space of Sacramento One LLC | ' | ' | ' |
Commitments and Contingencies | ' | ' | ' |
Guaranteed loan amount | 4,307 | ' | ' |
Estimated Fair Value of Assets | 9,290 | ' | ' |
Liability related to guarantee recorded | $0 | ' | ' |
SUPPLEMENTARY_QUARTERLY_FINANC2
SUPPLEMENTARY QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
SUPPLEMENTARY QUARTERLY FINANCIAL DATA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $141,934 | $133,111 | $126,246 | $119,322 | $113,667 | $109,791 | $94,951 | $90,987 | $520,613 | $409,396 | $329,830 |
Cost of operations | 84,619 | 77,047 | 72,871 | 72,593 | 70,555 | 66,307 | 57,076 | 58,217 | 307,130 | 252,155 | 214,354 |
Revenue less cost of operations | 57,315 | 56,064 | 53,375 | 46,729 | 43,112 | 43,484 | 37,875 | 32,770 | 213,483 | 157,241 | 115,476 |
Net income | 82,172 | 32,352 | 37,101 | 33,931 | 38,873 | 41,553 | 24,745 | 22,518 | 185,556 | 127,689 | 58,423 |
Net income attributable to common stockholders | $76,940 | $29,245 | $34,466 | $31,425 | $36,076 | $38,606 | $22,413 | $20,214 | $172,076 | $117,309 | $50,449 |
Earnings per common share - basic (in dollars per share) | $0.68 | $0.26 | $0.31 | $0.28 | $0.33 | $0.37 | $0.22 | $0.21 | $1.54 | $1.15 | $0.55 |
Earnings per common share - diluted (in dollars per share) | $0.67 | $0.26 | $0.31 | $0.28 | $0.33 | $0.37 | $0.22 | $0.21 | $1.53 | $1.14 | $0.54 |
SUBSEQUENT_EVENTS_Details
SUBSEQUENT EVENTS (Details) (USD $) | 12 Months Ended | 0 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 05, 2014 | Jan. 07, 2014 |
property | property | Subsequent event | Subsequent event | |
Texas 1 property purchased on February 5, 2014 | Virginia 17 properties acquired on January 7, 2014 | |||
property | ||||
SUBSEQUENT EVENTS | ' | ' | ' | ' |
Number of properties acquired | 78 | 91 | ' | 17 |
Total Consideration Paid | $704,449 | $761,648 | $14,150 | $199,665 |
Schedule_III_Real_Estate_and_A1
Schedule III Real Estate and Accumulated Depreciation (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Real Estate and Accumulated Depreciation | ' |
Debt | $1,588,596 |
Land initial cost | 1,000,356 |
Building and improvements initial cost | 2,894,399 |
Adjustments and costs subsequent to acquisition | 238,543 |
Gross carrying amount | ' |
Land | 1,019,921 |
Building and improvements | 3,113,377 |
Total | 4,133,298 |
Accumulated depreciation | 496,754 |
Intangible tenant relationships and lease rights | ' |
Real Estate and Accumulated Depreciation | ' |
Building and improvements initial cost | 60,011 |
Adjustments and costs subsequent to acquisition | 14,498 |
Gross carrying amount | ' |
Building and improvements | 74,509 |
Total | 74,509 |
Accumulated depreciation | 60,330 |
Other corporate assets | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | -3,936 |
Land initial cost | 849 |
Building and improvements initial cost | 2,202 |
Adjustments and costs subsequent to acquisition | 64,023 |
Gross carrying amount | ' |
Building and improvements | 67,074 |
Total | 67,074 |
Accumulated depreciation | 8,728 |
Construction in progress | ' |
Real Estate and Accumulated Depreciation | ' |
Adjustments and costs subsequent to acquisition | 6,651 |
Gross carrying amount | ' |
Building and improvements | 6,651 |
Total | 6,651 |
8115 Auburn, AL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,499 |
Land initial cost | 324 |
Building and improvements initial cost | 1,895 |
Adjustments and costs subsequent to acquisition | 112 |
Gross carrying amount | ' |
Land | 324 |
Building and improvements | 2,007 |
Total | 2,331 |
Accumulated depreciation | 197 |
8116 Auburn, AL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 92 |
Building and improvements initial cost | 138 |
Adjustments and costs subsequent to acquisition | 158 |
Gross carrying amount | ' |
Land | 92 |
Building and improvements | 296 |
Total | 388 |
Accumulated depreciation | 53 |
0751 Birmingham, AL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,665 |
Land initial cost | 790 |
Building and improvements initial cost | 9,369 |
Adjustments and costs subsequent to acquisition | 34 |
Gross carrying amount | ' |
Land | 790 |
Building and improvements | 9,403 |
Total | 10,193 |
Accumulated depreciation | 352 |
0654 Hoover, AL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,712 |
Land initial cost | 1,313 |
Building and improvements initial cost | 2,858 |
Adjustments and costs subsequent to acquisition | 621 |
Gross carrying amount | ' |
Land | 1,313 |
Building and improvements | 3,479 |
Total | 4,792 |
Accumulated depreciation | 936 |
1542 Chandler, AZ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 547 |
Building and improvements initial cost | 4,213 |
Adjustments and costs subsequent to acquisition | 3 |
Gross carrying amount | ' |
Land | 547 |
Building and improvements | 4,216 |
Total | 4,763 |
Accumulated depreciation | 50 |
0239 Mesa, AZ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,291 |
Land initial cost | 1,129 |
Building and improvements initial cost | 4,402 |
Adjustments and costs subsequent to acquisition | 40 |
Gross carrying amount | ' |
Land | 1,129 |
Building and improvements | 4,442 |
Total | 5,571 |
Accumulated depreciation | 168 |
1499 Mesa, AZ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,973 |
Building and improvements initial cost | 5,545 |
Adjustments and costs subsequent to acquisition | 76 |
Gross carrying amount | ' |
Land | 2,973 |
Building and improvements | 5,621 |
Total | 8,594 |
Accumulated depreciation | 155 |
1543 Mesa, AZ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,453 |
Building and improvements initial cost | 2,897 |
Adjustments and costs subsequent to acquisition | 16 |
Gross carrying amount | ' |
Land | 1,453 |
Building and improvements | 2,913 |
Total | 4,366 |
Accumulated depreciation | 35 |
8066 Mesa, AZ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 849 |
Building and improvements initial cost | 2,547 |
Adjustments and costs subsequent to acquisition | 165 |
Gross carrying amount | ' |
Land | 849 |
Building and improvements | 2,712 |
Total | 3,561 |
Accumulated depreciation | 691 |
1211 Peoria, AZ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,374 |
Land initial cost | 652 |
Building and improvements initial cost | 4,105 |
Adjustments and costs subsequent to acquisition | 136 |
Gross carrying amount | ' |
Land | 652 |
Building and improvements | 4,241 |
Total | 4,893 |
Accumulated depreciation | 843 |
1431 Peoria, AZ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,060 |
Building and improvements initial cost | 4,731 |
Adjustments and costs subsequent to acquisition | 12 |
Gross carrying amount | ' |
Land | 1,060 |
Building and improvements | 4,743 |
Total | 5,803 |
Accumulated depreciation | 352 |
0338 Phoenix, AZ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 7,053 |
Land initial cost | 1,441 |
Building and improvements initial cost | 7,982 |
Adjustments and costs subsequent to acquisition | 562 |
Gross carrying amount | ' |
Land | 1,441 |
Building and improvements | 8,544 |
Total | 9,985 |
Accumulated depreciation | 2,071 |
0659 Phoenix, AZ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 669 |
Building and improvements initial cost | 4,135 |
Adjustments and costs subsequent to acquisition | 248 |
Gross carrying amount | ' |
Land | 669 |
Building and improvements | 4,383 |
Total | 5,052 |
Accumulated depreciation | 858 |
0822 Phoenix, AZ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,257 |
Building and improvements initial cost | 7,820 |
Adjustments and costs subsequent to acquisition | 42 |
Gross carrying amount | ' |
Land | 2,257 |
Building and improvements | 7,862 |
Total | 10,119 |
Accumulated depreciation | 227 |
1356 Phoenix, AZ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,361 |
Land initial cost | 552 |
Building and improvements initial cost | 3,530 |
Adjustments and costs subsequent to acquisition | 230 |
Gross carrying amount | ' |
Land | 552 |
Building and improvements | 3,760 |
Total | 4,312 |
Accumulated depreciation | 815 |
0814 Tucson, AZ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,090 |
Building and improvements initial cost | 7,845 |
Adjustments and costs subsequent to acquisition | 22 |
Gross carrying amount | ' |
Land | 1,090 |
Building and improvements | 7,867 |
Total | 8,957 |
Accumulated depreciation | 228 |
1370 Alameda, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,919 |
Building and improvements initial cost | 12,984 |
Adjustments and costs subsequent to acquisition | 2,027 |
Gross carrying amount | ' |
Land | 2,919 |
Building and improvements | 15,011 |
Total | 17,930 |
Accumulated depreciation | 3,062 |
1522 Alhambra, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 10,109 |
Building and improvements initial cost | 6,065 |
Adjustments and costs subsequent to acquisition | 2 |
Gross carrying amount | ' |
Land | 10,109 |
Building and improvements | 6,067 |
Total | 16,176 |
Accumulated depreciation | 45 |
1523 Anaheim, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,593 |
Building and improvements initial cost | 3,330 |
Adjustments and costs subsequent to acquisition | 10 |
Gross carrying amount | ' |
Land | 3,593 |
Building and improvements | 3,340 |
Total | 6,933 |
Accumulated depreciation | 25 |
1524 Anaheim, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,519 |
Building and improvements initial cost | 2,886 |
Adjustments and costs subsequent to acquisition | 8 |
Gross carrying amount | ' |
Land | 2,519 |
Building and improvements | 2,894 |
Total | 5,413 |
Accumulated depreciation | 22 |
1232 Antelope, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,525 |
Building and improvements initial cost | 8,345 |
Adjustments and costs subsequent to acquisition | -299 |
Gross carrying amount | ' |
Land | 1,185 |
Building and improvements | 8,386 |
Total | 9,571 |
Accumulated depreciation | 1,136 |
1471 Bellflower, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,264 |
Land initial cost | 640 |
Building and improvements initial cost | 1,350 |
Adjustments and costs subsequent to acquisition | 35 |
Gross carrying amount | ' |
Land | 640 |
Building and improvements | 1,385 |
Total | 2,025 |
Accumulated depreciation | 82 |
1222 Belmont, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,500 |
Building and improvements initial cost | 7,280 |
Adjustments and costs subsequent to acquisition | 52 |
Gross carrying amount | ' |
Land | 3,500 |
Building and improvements | 7,332 |
Total | 10,832 |
Accumulated depreciation | 1,208 |
1371 Berkeley, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 19,782 |
Land initial cost | 1,716 |
Building and improvements initial cost | 19,602 |
Adjustments and costs subsequent to acquisition | 1,843 |
Gross carrying amount | ' |
Land | 1,716 |
Building and improvements | 21,445 |
Total | 23,161 |
Accumulated depreciation | 3,882 |
1472 Bloomington, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 934 |
Building and improvements initial cost | 1,937 |
Adjustments and costs subsequent to acquisition | 156 |
Gross carrying amount | ' |
Land | 934 |
Building and improvements | 2,093 |
Total | 3,027 |
Accumulated depreciation | 149 |
1473 Bloomington, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 647 |
Building and improvements initial cost | 1,303 |
Adjustments and costs subsequent to acquisition | 130 |
Gross carrying amount | ' |
Land | 647 |
Building and improvements | 1,433 |
Total | 2,080 |
Accumulated depreciation | 93 |
1071 Burbank, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,199 |
Building and improvements initial cost | 5,082 |
Adjustments and costs subsequent to acquisition | 1,751 |
Gross carrying amount | ' |
Land | 3,618 |
Building and improvements | 6,414 |
Total | 10,032 |
Accumulated depreciation | 2,266 |
1525 Burbank, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 4,061 |
Building and improvements initial cost | 5,318 |
Adjustments and costs subsequent to acquisition | 2 |
Gross carrying amount | ' |
Land | 4,061 |
Building and improvements | 5,320 |
Total | 9,381 |
Accumulated depreciation | 40 |
1461 Burlingame, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,441 |
Land initial cost | 2,211 |
Building and improvements initial cost | 5,829 |
Adjustments and costs subsequent to acquisition | 114 |
Gross carrying amount | ' |
Land | 2,211 |
Building and improvements | 5,943 |
Total | 8,154 |
Accumulated depreciation | 423 |
1256 Carson, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Building and improvements initial cost | 9,709 |
Adjustments and costs subsequent to acquisition | 74 |
Gross carrying amount | ' |
Building and improvements | 9,783 |
Total | 9,783 |
Accumulated depreciation | 702 |
1372 Castro Valley, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Building and improvements initial cost | 6,346 |
Adjustments and costs subsequent to acquisition | 384 |
Gross carrying amount | ' |
Building and improvements | 6,730 |
Total | 6,730 |
Accumulated depreciation | 1,147 |
1474 Cerritos, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 17,173 |
Land initial cost | 8,728 |
Building and improvements initial cost | 15,895 |
Adjustments and costs subsequent to acquisition | 565 |
Gross carrying amount | ' |
Land | 8,728 |
Building and improvements | 16,460 |
Total | 25,188 |
Accumulated depreciation | 953 |
0224 Chatsworth, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 10,675 |
Land initial cost | 5,853 |
Building and improvements initial cost | 11,286 |
Adjustments and costs subsequent to acquisition | 382 |
Gross carrying amount | ' |
Land | 9,921 |
Building and improvements | 7,600 |
Total | 17,521 |
Accumulated depreciation | 869 |
1004 Claremont, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,472 |
Building and improvements initial cost | 2,012 |
Adjustments and costs subsequent to acquisition | 231 |
Gross carrying amount | ' |
Land | 1,472 |
Building and improvements | 2,243 |
Total | 3,715 |
Accumulated depreciation | 618 |
1475 Claremont, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,375 |
Building and improvements initial cost | 1,434 |
Adjustments and costs subsequent to acquisition | 168 |
Gross carrying amount | ' |
Land | 1,375 |
Building and improvements | 1,602 |
Total | 2,977 |
Accumulated depreciation | 93 |
1373 Colma, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 23,332 |
Land initial cost | 3,947 |
Building and improvements initial cost | 22,002 |
Adjustments and costs subsequent to acquisition | 2,242 |
Gross carrying amount | ' |
Land | 3,947 |
Building and improvements | 24,244 |
Total | 28,191 |
Accumulated depreciation | 4,561 |
1255 Compton, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,426 |
Building and improvements initial cost | 7,582 |
Adjustments and costs subsequent to acquisition | 42 |
Gross carrying amount | ' |
Land | 1,426 |
Building and improvements | 7,624 |
Total | 9,050 |
Accumulated depreciation | 1,042 |
1526 Concord, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,082 |
Building and improvements initial cost | 2,822 |
Adjustments and costs subsequent to acquisition | 7 |
Gross carrying amount | ' |
Land | 3,082 |
Building and improvements | 2,829 |
Total | 5,911 |
Accumulated depreciation | 21 |
1404 El Cajon, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,100 |
Building and improvements initial cost | 6,380 |
Adjustments and costs subsequent to acquisition | 46 |
Gross carrying amount | ' |
Land | 1,100 |
Building and improvements | 6,426 |
Total | 7,526 |
Accumulated depreciation | 692 |
1378 El Sobrante, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,209 |
Building and improvements initial cost | 4,018 |
Adjustments and costs subsequent to acquisition | 1,280 |
Gross carrying amount | ' |
Land | 1,209 |
Building and improvements | 5,298 |
Total | 6,507 |
Accumulated depreciation | 1,154 |
0683 Elk Grove, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 894 |
Building and improvements initial cost | 6,949 |
Gross carrying amount | ' |
Land | 894 |
Building and improvements | 6,949 |
Total | 7,843 |
Accumulated depreciation | 7 |
0696 Elk Grove, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 640 |
Building and improvements initial cost | 8,640 |
Gross carrying amount | ' |
Land | 640 |
Building and improvements | 8,640 |
Total | 9,280 |
Accumulated depreciation | 9 |
1166 Elk Grove, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,936 |
Land initial cost | 952 |
Building and improvements initial cost | 6,936 |
Adjustments and costs subsequent to acquisition | 441 |
Gross carrying amount | ' |
Land | 1,075 |
Building and improvements | 7,254 |
Total | 8,329 |
Accumulated depreciation | 611 |
0765 Fair Oaks, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,337 |
Land initial cost | 644 |
Building and improvements initial cost | 11,287 |
Gross carrying amount | ' |
Land | 644 |
Building and improvements | 11,287 |
Total | 11,931 |
Accumulated depreciation | 12 |
1121 Fontana, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,418 |
Land initial cost | 1,246 |
Building and improvements initial cost | 3,356 |
Adjustments and costs subsequent to acquisition | 477 |
Gross carrying amount | ' |
Land | 1,300 |
Building and improvements | 3,779 |
Total | 5,079 |
Accumulated depreciation | 1,037 |
1157 Fontana, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,280 |
Land initial cost | 961 |
Building and improvements initial cost | 3,846 |
Adjustments and costs subsequent to acquisition | 428 |
Gross carrying amount | ' |
Land | 1,000 |
Building and improvements | 4,235 |
Total | 5,235 |
Accumulated depreciation | 1,296 |
1476 Fontana, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 768 |
Building and improvements initial cost | 4,208 |
Adjustments and costs subsequent to acquisition | 117 |
Gross carrying amount | ' |
Land | 768 |
Building and improvements | 4,325 |
Total | 5,093 |
Accumulated depreciation | 254 |
1477 Fontana, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 778 |
Building and improvements initial cost | 4,723 |
Adjustments and costs subsequent to acquisition | 119 |
Gross carrying amount | ' |
Land | 778 |
Building and improvements | 4,842 |
Total | 5,620 |
Accumulated depreciation | 291 |
1478 Fontana, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,997 |
Land initial cost | 684 |
Building and improvements initial cost | 3,951 |
Adjustments and costs subsequent to acquisition | 97 |
Gross carrying amount | ' |
Land | 684 |
Building and improvements | 4,048 |
Total | 4,732 |
Accumulated depreciation | 241 |
1031 Glendale, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Building and improvements initial cost | 6,084 |
Adjustments and costs subsequent to acquisition | 254 |
Gross carrying amount | ' |
Building and improvements | 6,338 |
Total | 6,338 |
Accumulated depreciation | 1,644 |
0305 Hawaiian Gardens, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 9,468 |
Land initial cost | 2,964 |
Building and improvements initial cost | 12,478 |
Adjustments and costs subsequent to acquisition | 95 |
Gross carrying amount | ' |
Land | 2,964 |
Building and improvements | 12,573 |
Total | 15,537 |
Accumulated depreciation | 487 |
1030 Hawthorne, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,858 |
Land initial cost | 1,532 |
Building and improvements initial cost | 3,871 |
Adjustments and costs subsequent to acquisition | 236 |
Gross carrying amount | ' |
Land | 1,532 |
Building and improvements | 4,107 |
Total | 5,639 |
Accumulated depreciation | 1,093 |
1374 Hayward, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 8,585 |
Land initial cost | 3,149 |
Building and improvements initial cost | 8,006 |
Adjustments and costs subsequent to acquisition | 2,359 |
Gross carrying amount | ' |
Land | 3,149 |
Building and improvements | 10,365 |
Total | 13,514 |
Accumulated depreciation | 2,194 |
0177 Hemet, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,051 |
Land initial cost | 1,146 |
Building and improvements initial cost | 6,369 |
Adjustments and costs subsequent to acquisition | 272 |
Gross carrying amount | ' |
Land | 1,146 |
Building and improvements | 6,641 |
Total | 7,787 |
Accumulated depreciation | 1,546 |
1479 Hesperia, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 156 |
Building and improvements initial cost | 430 |
Adjustments and costs subsequent to acquisition | 105 |
Gross carrying amount | ' |
Land | 156 |
Building and improvements | 535 |
Total | 691 |
Accumulated depreciation | 47 |
1070 Inglewood, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,530 |
Land initial cost | 1,379 |
Building and improvements initial cost | 3,343 |
Adjustments and costs subsequent to acquisition | 961 |
Gross carrying amount | ' |
Land | 1,529 |
Building and improvements | 4,154 |
Total | 5,683 |
Accumulated depreciation | 1,557 |
1480 Irvine, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,056 |
Land initial cost | 3,821 |
Building and improvements initial cost | 3,999 |
Adjustments and costs subsequent to acquisition | 59 |
Gross carrying amount | ' |
Land | 3,821 |
Building and improvements | 4,058 |
Total | 7,879 |
Accumulated depreciation | 240 |
1481 Lake Elsinore, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,310 |
Land initial cost | 587 |
Building and improvements initial cost | 4,219 |
Adjustments and costs subsequent to acquisition | 179 |
Gross carrying amount | ' |
Land | 587 |
Building and improvements | 4,398 |
Total | 4,985 |
Accumulated depreciation | 252 |
1482 Lake Elsinore, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 294 |
Building and improvements initial cost | 2,105 |
Adjustments and costs subsequent to acquisition | 80 |
Gross carrying amount | ' |
Land | 294 |
Building and improvements | 2,185 |
Total | 2,479 |
Accumulated depreciation | 129 |
1278 Lancaster, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,425 |
Building and improvements initial cost | 5,855 |
Adjustments and costs subsequent to acquisition | 79 |
Gross carrying amount | ' |
Land | 1,425 |
Building and improvements | 5,934 |
Total | 7,359 |
Accumulated depreciation | 619 |
1358 Lancaster, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,706 |
Land initial cost | 1,347 |
Building and improvements initial cost | 5,827 |
Adjustments and costs subsequent to acquisition | 234 |
Gross carrying amount | ' |
Land | 1,347 |
Building and improvements | 6,061 |
Total | 7,408 |
Accumulated depreciation | 1,278 |
1013 Livermore, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,134 |
Building and improvements initial cost | 4,615 |
Adjustments and costs subsequent to acquisition | 227 |
Gross carrying amount | ' |
Land | 1,134 |
Building and improvements | 4,842 |
Total | 5,976 |
Accumulated depreciation | 1,233 |
1483 Long Beach, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,733 |
Land initial cost | 1,772 |
Building and improvements initial cost | 2,539 |
Adjustments and costs subsequent to acquisition | 103 |
Gross carrying amount | ' |
Land | 1,772 |
Building and improvements | 2,642 |
Total | 4,414 |
Accumulated depreciation | 160 |
0354 Long Beach, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,909 |
Land initial cost | 2,205 |
Building and improvements initial cost | 8,356 |
Adjustments and costs subsequent to acquisition | 290 |
Gross carrying amount | ' |
Land | 5,859 |
Building and improvements | 4,992 |
Total | 10,851 |
Accumulated depreciation | 627 |
0352 Los Angeles, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 10,345 |
Land initial cost | 4,555 |
Building and improvements initial cost | 10,590 |
Adjustments and costs subsequent to acquisition | 33 |
Gross carrying amount | ' |
Land | 4,555 |
Building and improvements | 10,623 |
Total | 15,178 |
Accumulated depreciation | 400 |
0353 Los Angeles, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,276 |
Land initial cost | 3,099 |
Building and improvements initial cost | 4,889 |
Adjustments and costs subsequent to acquisition | 35 |
Gross carrying amount | ' |
Land | 3,099 |
Building and improvements | 4,924 |
Total | 8,023 |
Accumulated depreciation | 188 |
1057 Los Angeles, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 9,014 |
Land initial cost | 1,431 |
Building and improvements initial cost | 2,976 |
Adjustments and costs subsequent to acquisition | 743 |
Gross carrying amount | ' |
Land | 1,611 |
Building and improvements | 3,539 |
Total | 5,150 |
Accumulated depreciation | 1,263 |
1160 Los Angeles, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,991 |
Building and improvements initial cost | 9,774 |
Adjustments and costs subsequent to acquisition | 55 |
Gross carrying amount | ' |
Land | 3,991 |
Building and improvements | 9,829 |
Total | 13,820 |
Accumulated depreciation | 1,531 |
1235 Los Angeles, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,862 |
Land initial cost | 2,200 |
Building and improvements initial cost | 8,108 |
Adjustments and costs subsequent to acquisition | 47 |
Gross carrying amount | ' |
Land | 2,200 |
Building and improvements | 8,155 |
Total | 10,355 |
Accumulated depreciation | 1,117 |
1563 Los Angeles, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 287 |
Building and improvements initial cost | 2,011 |
Gross carrying amount | ' |
Land | 287 |
Building and improvements | 2,011 |
Total | 2,298 |
Accumulated depreciation | 2 |
1296 Los Gatos, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,550 |
Building and improvements initial cost | 8,257 |
Adjustments and costs subsequent to acquisition | 52 |
Gross carrying amount | ' |
Land | 2,550 |
Building and improvements | 8,309 |
Total | 10,859 |
Accumulated depreciation | 402 |
8055 Manteca, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,673 |
Land initial cost | 848 |
Building and improvements initial cost | 2,543 |
Adjustments and costs subsequent to acquisition | 146 |
Gross carrying amount | ' |
Land | 848 |
Building and improvements | 2,689 |
Total | 3,537 |
Accumulated depreciation | 717 |
0107 Marina del Rey, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 17,537 |
Land initial cost | 14,875 |
Building and improvements initial cost | 22,464 |
Adjustments and costs subsequent to acquisition | 1,332 |
Gross carrying amount | ' |
Land | 19,928 |
Building and improvements | 18,743 |
Total | 38,671 |
Accumulated depreciation | 1,588 |
1527 Menlo Park, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 7,675 |
Building and improvements initial cost | 1,812 |
Adjustments and costs subsequent to acquisition | 3 |
Gross carrying amount | ' |
Land | 7,675 |
Building and improvements | 1,815 |
Total | 9,490 |
Accumulated depreciation | 14 |
1383 Modesto, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,231 |
Land initial cost | 909 |
Building and improvements initial cost | 3,043 |
Adjustments and costs subsequent to acquisition | 269 |
Gross carrying amount | ' |
Land | 909 |
Building and improvements | 3,312 |
Total | 4,221 |
Accumulated depreciation | 651 |
1528 Modesto, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,647 |
Building and improvements initial cost | 4,215 |
Adjustments and costs subsequent to acquisition | 8 |
Gross carrying amount | ' |
Land | 1,647 |
Building and improvements | 4,223 |
Total | 5,870 |
Accumulated depreciation | 32 |
0231 Moreno Valley, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,121 |
Land initial cost | 482 |
Building and improvements initial cost | 3,484 |
Adjustments and costs subsequent to acquisition | 21 |
Gross carrying amount | ' |
Land | 482 |
Building and improvements | 3,505 |
Total | 3,987 |
Accumulated depreciation | 132 |
0484 North Highlands, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,097 |
Land initial cost | 1,020 |
Building and improvements initial cost | 2,516 |
Adjustments and costs subsequent to acquisition | 75 |
Gross carrying amount | ' |
Land | 798 |
Building and improvements | 2,813 |
Total | 3,611 |
Accumulated depreciation | 288 |
1122 North Hollywood, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 7,069 |
Land initial cost | 3,125 |
Building and improvements initial cost | 9,257 |
Adjustments and costs subsequent to acquisition | 138 |
Gross carrying amount | ' |
Land | 3,125 |
Building and improvements | 9,395 |
Total | 12,520 |
Accumulated depreciation | 1,861 |
1529 North Hollywood, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 4,501 |
Building and improvements initial cost | 4,465 |
Adjustments and costs subsequent to acquisition | 2 |
Gross carrying amount | ' |
Land | 4,501 |
Building and improvements | 4,467 |
Total | 8,968 |
Accumulated depreciation | 33 |
1530 Northridge, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,641 |
Building and improvements initial cost | 2,872 |
Adjustments and costs subsequent to acquisition | 3 |
Gross carrying amount | ' |
Land | 3,641 |
Building and improvements | 2,875 |
Total | 6,516 |
Accumulated depreciation | 22 |
1053 Oakland, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,271 |
Building and improvements initial cost | 3,777 |
Adjustments and costs subsequent to acquisition | 990 |
Gross carrying amount | ' |
Building and improvements | 4,767 |
Total | 4,767 |
Accumulated depreciation | 1,764 |
1267 Oakland, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,024 |
Building and improvements initial cost | 11,321 |
Adjustments and costs subsequent to acquisition | 160 |
Gross carrying amount | ' |
Land | 3,024 |
Building and improvements | 11,481 |
Total | 14,505 |
Accumulated depreciation | 1,059 |
1531 Oakland, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 6,359 |
Building and improvements initial cost | 5,753 |
Adjustments and costs subsequent to acquisition | 5 |
Gross carrying amount | ' |
Land | 6,359 |
Building and improvements | 5,758 |
Total | 12,117 |
Accumulated depreciation | 43 |
1566 Oakland, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,668 |
Building and improvements initial cost | 7,652 |
Gross carrying amount | ' |
Land | 1,668 |
Building and improvements | 7,652 |
Total | 9,320 |
Accumulated depreciation | 8 |
0645 Oceanside, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 9,245 |
Land initial cost | 3,241 |
Building and improvements initial cost | 11,361 |
Adjustments and costs subsequent to acquisition | 722 |
Gross carrying amount | ' |
Land | 3,241 |
Building and improvements | 12,083 |
Total | 15,324 |
Accumulated depreciation | 2,889 |
0825 Orange, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 12,660 |
Land initial cost | 4,847 |
Building and improvements initial cost | 12,341 |
Adjustments and costs subsequent to acquisition | 140 |
Gross carrying amount | ' |
Land | 4,847 |
Building and improvements | 12,481 |
Total | 17,328 |
Accumulated depreciation | 360 |
0695 Oxnard, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 5,421 |
Building and improvements initial cost | 6,761 |
Gross carrying amount | ' |
Land | 5,421 |
Building and improvements | 6,761 |
Total | 12,182 |
Accumulated depreciation | 7 |
1254 Pacoima, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,257 |
Land initial cost | 3,050 |
Building and improvements initial cost | 7,597 |
Adjustments and costs subsequent to acquisition | 81 |
Gross carrying amount | ' |
Land | 3,050 |
Building and improvements | 7,678 |
Total | 10,728 |
Accumulated depreciation | 852 |
1111 Palmdale, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,885 |
Land initial cost | 1,225 |
Building and improvements initial cost | 5,379 |
Adjustments and costs subsequent to acquisition | 2,197 |
Gross carrying amount | ' |
Land | 1,225 |
Building and improvements | 7,576 |
Total | 8,801 |
Accumulated depreciation | 1,724 |
1484 Paramount, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,630 |
Land initial cost | 1,404 |
Building and improvements initial cost | 2,549 |
Adjustments and costs subsequent to acquisition | 121 |
Gross carrying amount | ' |
Land | 1,404 |
Building and improvements | 2,670 |
Total | 4,074 |
Accumulated depreciation | 163 |
1020 Pico Rivera, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,150 |
Land initial cost | 1,150 |
Building and improvements initial cost | 3,450 |
Adjustments and costs subsequent to acquisition | 161 |
Gross carrying amount | ' |
Land | 1,150 |
Building and improvements | 3,611 |
Total | 4,761 |
Accumulated depreciation | 1,160 |
1485 Placentia, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,832 |
Land initial cost | 4,798 |
Building and improvements initial cost | 5,483 |
Adjustments and costs subsequent to acquisition | 165 |
Gross carrying amount | ' |
Land | 4,798 |
Building and improvements | 5,648 |
Total | 10,446 |
Accumulated depreciation | 331 |
1382 Pleasanton, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 7,127 |
Land initial cost | 1,208 |
Building and improvements initial cost | 4,283 |
Adjustments and costs subsequent to acquisition | 418 |
Gross carrying amount | ' |
Land | 1,208 |
Building and improvements | 4,701 |
Total | 5,909 |
Accumulated depreciation | 1,001 |
1029 Richmond, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,944 |
Land initial cost | 953 |
Building and improvements initial cost | 4,635 |
Adjustments and costs subsequent to acquisition | 607 |
Gross carrying amount | ' |
Land | 953 |
Building and improvements | 5,242 |
Total | 6,195 |
Accumulated depreciation | 1,409 |
1532 Richmond, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,139 |
Building and improvements initial cost | 7,437 |
Adjustments and costs subsequent to acquisition | 6 |
Gross carrying amount | ' |
Land | 3,139 |
Building and improvements | 7,443 |
Total | 10,582 |
Accumulated depreciation | 56 |
8016 Riverside, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,075 |
Building and improvements initial cost | 4,042 |
Adjustments and costs subsequent to acquisition | 515 |
Gross carrying amount | ' |
Land | 1,075 |
Building and improvements | 4,557 |
Total | 5,632 |
Accumulated depreciation | 1,226 |
0684 Rocklin, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,745 |
Building and improvements initial cost | 8,005 |
Gross carrying amount | ' |
Land | 1,745 |
Building and improvements | 8,005 |
Total | 9,750 |
Accumulated depreciation | 9 |
1555 Rohnert Park, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 990 |
Building and improvements initial cost | 8,094 |
Adjustments and costs subsequent to acquisition | 4 |
Gross carrying amount | ' |
Land | 990 |
Building and improvements | 8,098 |
Total | 9,088 |
Accumulated depreciation | 26 |
0328 Sacramento, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,003 |
Land initial cost | 852 |
Building and improvements initial cost | 4,720 |
Adjustments and costs subsequent to acquisition | 463 |
Gross carrying amount | ' |
Land | 852 |
Building and improvements | 5,183 |
Total | 6,035 |
Accumulated depreciation | 1,281 |
1273 Sacramento, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,082 |
Land initial cost | 1,738 |
Building and improvements initial cost | 5,522 |
Adjustments and costs subsequent to acquisition | 107 |
Gross carrying amount | ' |
Land | 1,844 |
Building and improvements | 5,523 |
Total | 7,367 |
Accumulated depreciation | 469 |
1433 Sacramento, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,400 |
Building and improvements initial cost | 7,425 |
Adjustments and costs subsequent to acquisition | 74 |
Gross carrying amount | ' |
Land | 2,400 |
Building and improvements | 7,499 |
Total | 9,899 |
Accumulated depreciation | 830 |
1007 San Bernardino, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,213 |
Building and improvements initial cost | 3,061 |
Adjustments and costs subsequent to acquisition | 109 |
Gross carrying amount | ' |
Land | 1,173 |
Building and improvements | 3,210 |
Total | 4,383 |
Accumulated depreciation | 843 |
1194 San Bernardino, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 750 |
Building and improvements initial cost | 5,135 |
Adjustments and costs subsequent to acquisition | 69 |
Gross carrying amount | ' |
Land | 750 |
Building and improvements | 5,204 |
Total | 5,954 |
Accumulated depreciation | 969 |
1533 San Diego, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 5,919 |
Building and improvements initial cost | 6,729 |
Adjustments and costs subsequent to acquisition | 6 |
Gross carrying amount | ' |
Land | 5,919 |
Building and improvements | 6,735 |
Total | 12,654 |
Accumulated depreciation | 50 |
1486 San Dimas, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,466 |
Land initial cost | 1,867 |
Building and improvements initial cost | 6,354 |
Adjustments and costs subsequent to acquisition | 132 |
Gross carrying amount | ' |
Land | 1,867 |
Building and improvements | 6,486 |
Total | 8,353 |
Accumulated depreciation | 376 |
1368 San Francisco, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 12,498 |
Land initial cost | 8,457 |
Building and improvements initial cost | 9,928 |
Adjustments and costs subsequent to acquisition | 1,767 |
Gross carrying amount | ' |
Land | 8,457 |
Building and improvements | 11,695 |
Total | 20,152 |
Accumulated depreciation | 2,368 |
1534 San Francisco, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 5,098 |
Building and improvements initial cost | 4,054 |
Adjustments and costs subsequent to acquisition | 7 |
Gross carrying amount | ' |
Land | 5,098 |
Building and improvements | 4,061 |
Total | 9,159 |
Accumulated depreciation | 30 |
1491 San Jose, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,514 |
Land initial cost | 2,428 |
Building and improvements initial cost | 2,323 |
Adjustments and costs subsequent to acquisition | 97 |
Gross carrying amount | ' |
Land | 2,428 |
Building and improvements | 2,420 |
Total | 4,848 |
Accumulated depreciation | 96 |
8145 San Jose, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 5,340 |
Building and improvements initial cost | 6,821 |
Adjustments and costs subsequent to acquisition | 197 |
Gross carrying amount | ' |
Land | 5,340 |
Building and improvements | 7,018 |
Total | 12,358 |
Accumulated depreciation | 753 |
1257 San Leandro, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,343 |
Building and improvements initial cost | 6,630 |
Adjustments and costs subsequent to acquisition | -85 |
Gross carrying amount | ' |
Land | 3,291 |
Building and improvements | 6,597 |
Total | 9,888 |
Accumulated depreciation | 548 |
1377 San Leandro, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 14,812 |
Land initial cost | 4,601 |
Building and improvements initial cost | 9,777 |
Adjustments and costs subsequent to acquisition | 1,933 |
Gross carrying amount | ' |
Land | 4,601 |
Building and improvements | 11,710 |
Total | 16,311 |
Accumulated depreciation | 2,429 |
1535 San Ramon, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 4,819 |
Building and improvements initial cost | 5,819 |
Adjustments and costs subsequent to acquisition | 2 |
Gross carrying amount | ' |
Land | 4,819 |
Building and improvements | 5,821 |
Total | 10,640 |
Accumulated depreciation | 44 |
1536 Santa Ana, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,485 |
Building and improvements initial cost | 2,382 |
Adjustments and costs subsequent to acquisition | 6 |
Gross carrying amount | ' |
Land | 3,485 |
Building and improvements | 2,388 |
Total | 5,873 |
Accumulated depreciation | 18 |
1261 Santa Clara, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 8,249 |
Land initial cost | 4,750 |
Building and improvements initial cost | 8,218 |
Adjustments and costs subsequent to acquisition | 31 |
Gross carrying amount | ' |
Land | 4,750 |
Building and improvements | 8,249 |
Total | 12,999 |
Accumulated depreciation | 915 |
0721 Santa Cruz, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 8,828 |
Land initial cost | 1,588 |
Building and improvements initial cost | 11,160 |
Adjustments and costs subsequent to acquisition | 18 |
Gross carrying amount | ' |
Land | 1,588 |
Building and improvements | 11,178 |
Total | 12,766 |
Accumulated depreciation | 419 |
1384 Santa Fe Springs, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,590 |
Land initial cost | 3,617 |
Building and improvements initial cost | 7,022 |
Adjustments and costs subsequent to acquisition | 285 |
Gross carrying amount | ' |
Land | 3,617 |
Building and improvements | 7,307 |
Total | 10,924 |
Accumulated depreciation | 1,300 |
1487 Santa Maria, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,980 |
Land initial cost | 1,556 |
Building and improvements initial cost | 2,740 |
Adjustments and costs subsequent to acquisition | 208 |
Gross carrying amount | ' |
Land | 1,556 |
Building and improvements | 2,948 |
Total | 4,504 |
Accumulated depreciation | 177 |
1488 Santa Maria, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,228 |
Land initial cost | 1,310 |
Building and improvements initial cost | 3,526 |
Adjustments and costs subsequent to acquisition | 59 |
Gross carrying amount | ' |
Land | 1,310 |
Building and improvements | 3,585 |
Total | 4,895 |
Accumulated depreciation | 209 |
8008 Sherman Oaks, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 16,732 |
Land initial cost | 4,051 |
Building and improvements initial cost | 12,152 |
Adjustments and costs subsequent to acquisition | 308 |
Gross carrying amount | ' |
Land | 4,051 |
Building and improvements | 12,460 |
Total | 16,511 |
Accumulated depreciation | 3,056 |
1275 Simi Valley, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 5,533 |
Adjustments and costs subsequent to acquisition | -3,308 |
Gross carrying amount | ' |
Land | 2,225 |
Total | 2,225 |
1537 Stanton, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 5,022 |
Building and improvements initial cost | 2,267 |
Adjustments and costs subsequent to acquisition | 5 |
Gross carrying amount | ' |
Land | 5,022 |
Building and improvements | 2,272 |
Total | 7,294 |
Accumulated depreciation | 17 |
1095 Stockton, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,506 |
Land initial cost | 649 |
Building and improvements initial cost | 3,272 |
Adjustments and costs subsequent to acquisition | 172 |
Gross carrying amount | ' |
Land | 649 |
Building and improvements | 3,444 |
Total | 4,093 |
Accumulated depreciation | 1,066 |
1564 Stockton, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,619 |
Building and improvements initial cost | 2,443 |
Gross carrying amount | ' |
Land | 3,619 |
Building and improvements | 2,443 |
Total | 6,062 |
Accumulated depreciation | 3 |
1538 Sunnyvale, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 10,732 |
Building and improvements initial cost | 5,004 |
Adjustments and costs subsequent to acquisition | 3 |
Gross carrying amount | ' |
Land | 10,732 |
Building and improvements | 5,007 |
Total | 15,739 |
Accumulated depreciation | 37 |
1425 Sylmar, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,058 |
Building and improvements initial cost | 4,671 |
Adjustments and costs subsequent to acquisition | 249 |
Gross carrying amount | ' |
Land | 3,058 |
Building and improvements | 4,920 |
Total | 7,978 |
Accumulated depreciation | 834 |
1253 Thousand Oaks, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 4,500 |
Adjustments and costs subsequent to acquisition | -1,000 |
Gross carrying amount | ' |
Land | 3,500 |
Total | 3,500 |
1009 Torrance, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,710 |
Building and improvements initial cost | 6,271 |
Adjustments and costs subsequent to acquisition | 956 |
Gross carrying amount | ' |
Land | 4,110 |
Building and improvements | 6,827 |
Total | 10,937 |
Accumulated depreciation | 1,788 |
1112 Tracy, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,159 |
Land initial cost | 778 |
Building and improvements initial cost | 2,638 |
Adjustments and costs subsequent to acquisition | 808 |
Gross carrying amount | ' |
Land | 911 |
Building and improvements | 3,313 |
Total | 4,224 |
Accumulated depreciation | 935 |
1174 Tracy, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,168 |
Land initial cost | 946 |
Building and improvements initial cost | 1,937 |
Adjustments and costs subsequent to acquisition | 253 |
Gross carrying amount | ' |
Land | 946 |
Building and improvements | 2,190 |
Total | 3,136 |
Accumulated depreciation | 666 |
1379 Vallejo, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,017 |
Land initial cost | 1,177 |
Building and improvements initial cost | 2,157 |
Adjustments and costs subsequent to acquisition | 965 |
Gross carrying amount | ' |
Land | 1,177 |
Building and improvements | 3,122 |
Total | 4,299 |
Accumulated depreciation | 781 |
1539 Van Nuys, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 7,939 |
Building and improvements initial cost | 2,576 |
Adjustments and costs subsequent to acquisition | 6 |
Gross carrying amount | ' |
Land | 7,939 |
Building and improvements | 2,582 |
Total | 10,521 |
Accumulated depreciation | 19 |
8011 Venice, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 14,658 |
Land initial cost | 2,803 |
Building and improvements initial cost | 8,410 |
Adjustments and costs subsequent to acquisition | 193 |
Gross carrying amount | ' |
Land | 2,803 |
Building and improvements | 8,603 |
Total | 11,406 |
Accumulated depreciation | 2,106 |
1540 Ventura, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,453 |
Building and improvements initial cost | 2,837 |
Adjustments and costs subsequent to acquisition | 2 |
Gross carrying amount | ' |
Land | 3,453 |
Building and improvements | 2,839 |
Total | 6,292 |
Accumulated depreciation | 21 |
1489 Victorville, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 151 |
Building and improvements initial cost | 751 |
Adjustments and costs subsequent to acquisition | 138 |
Gross carrying amount | ' |
Land | 151 |
Building and improvements | 889 |
Total | 1,040 |
Accumulated depreciation | 58 |
0144 Watsonville, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,241 |
Land initial cost | 1,699 |
Building and improvements initial cost | 3,056 |
Adjustments and costs subsequent to acquisition | 216 |
Gross carrying amount | ' |
Land | 1,699 |
Building and improvements | 3,272 |
Total | 4,971 |
Accumulated depreciation | 795 |
1083 Whittier, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,400 |
Building and improvements initial cost | 2,985 |
Adjustments and costs subsequent to acquisition | 170 |
Gross carrying amount | ' |
Building and improvements | 3,155 |
Total | 3,155 |
Accumulated depreciation | 970 |
1541 Wilmington, CA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 6,792 |
Building and improvements initial cost | 10,726 |
Adjustments and costs subsequent to acquisition | 3 |
Gross carrying amount | ' |
Land | 6,792 |
Building and improvements | 10,729 |
Total | 17,521 |
Accumulated depreciation | 80 |
1073 Arvada, CO | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,861 |
Land initial cost | 286 |
Building and improvements initial cost | 1,521 |
Adjustments and costs subsequent to acquisition | 671 |
Gross carrying amount | ' |
Land | 286 |
Building and improvements | 2,192 |
Total | 2,478 |
Accumulated depreciation | 918 |
1458 Castle Rock, CO | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,151 |
Land initial cost | 407 |
Building and improvements initial cost | 3,077 |
Adjustments and costs subsequent to acquisition | 164 |
Gross carrying amount | ' |
Land | 407 |
Building and improvements | 3,241 |
Total | 3,648 |
Accumulated depreciation | 230 |
0665 Colorado Springs, CO | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,919 |
Land initial cost | 781 |
Building and improvements initial cost | 3,400 |
Adjustments and costs subsequent to acquisition | 230 |
Gross carrying amount | ' |
Land | 781 |
Building and improvements | 3,630 |
Total | 4,411 |
Accumulated depreciation | 679 |
0744 Colorado Springs, CO | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,368 |
Land initial cost | 1,525 |
Building and improvements initial cost | 4,310 |
Adjustments and costs subsequent to acquisition | 241 |
Gross carrying amount | ' |
Land | 1,525 |
Building and improvements | 4,551 |
Total | 6,076 |
Accumulated depreciation | 665 |
1459 Colorado Springs, CO | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,782 |
Land initial cost | 296 |
Building and improvements initial cost | 4,199 |
Adjustments and costs subsequent to acquisition | 198 |
Gross carrying amount | ' |
Land | 296 |
Building and improvements | 4,397 |
Total | 4,693 |
Accumulated depreciation | 314 |
1460 Colorado Springs, CO | ' |
Real Estate and Accumulated Depreciation | ' |
Building and improvements initial cost | 6,945 |
Adjustments and costs subsequent to acquisition | 79 |
Gross carrying amount | ' |
Building and improvements | 7,024 |
Total | 7,024 |
Accumulated depreciation | 264 |
0679 Denver, CO | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,777 |
Land initial cost | 368 |
Building and improvements initial cost | 1,574 |
Adjustments and costs subsequent to acquisition | 228 |
Gross carrying amount | ' |
Land | 368 |
Building and improvements | 1,802 |
Total | 2,170 |
Accumulated depreciation | 474 |
1074 Denver, CO | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,635 |
Land initial cost | 602 |
Building and improvements initial cost | 2,052 |
Adjustments and costs subsequent to acquisition | 1,299 |
Gross carrying amount | ' |
Land | 745 |
Building and improvements | 3,208 |
Total | 3,953 |
Accumulated depreciation | 1,173 |
1359 Parker, CO | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,108 |
Land initial cost | 800 |
Building and improvements initial cost | 4,549 |
Adjustments and costs subsequent to acquisition | 758 |
Gross carrying amount | ' |
Land | 800 |
Building and improvements | 5,307 |
Total | 6,107 |
Accumulated depreciation | 1,150 |
1075 Thornton, CO | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,886 |
Land initial cost | 212 |
Building and improvements initial cost | 2,044 |
Adjustments and costs subsequent to acquisition | 1,100 |
Gross carrying amount | ' |
Land | 248 |
Building and improvements | 3,108 |
Total | 3,356 |
Accumulated depreciation | 1,195 |
1076 Westminster, CO | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,177 |
Land initial cost | 291 |
Building and improvements initial cost | 1,586 |
Adjustments and costs subsequent to acquisition | 1,021 |
Gross carrying amount | ' |
Land | 299 |
Building and improvements | 2,599 |
Total | 2,898 |
Accumulated depreciation | 1,122 |
0568 Brookfield, CT | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,187 |
Land initial cost | 991 |
Building and improvements initial cost | 7,891 |
Adjustments and costs subsequent to acquisition | 106 |
Gross carrying amount | ' |
Land | 991 |
Building and improvements | 7,997 |
Total | 8,988 |
Accumulated depreciation | 305 |
1079 Groton, CT | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,277 |
Building and improvements initial cost | 3,992 |
Adjustments and costs subsequent to acquisition | 435 |
Gross carrying amount | ' |
Land | 1,277 |
Building and improvements | 4,427 |
Total | 5,704 |
Accumulated depreciation | 1,310 |
1192 Middletown, CT | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,853 |
Land initial cost | 932 |
Building and improvements initial cost | 2,810 |
Adjustments and costs subsequent to acquisition | 183 |
Gross carrying amount | ' |
Land | 932 |
Building and improvements | 2,993 |
Total | 3,925 |
Accumulated depreciation | 486 |
1553 Newington, CT | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,363 |
Building and improvements initial cost | 2,978 |
Adjustments and costs subsequent to acquisition | 1 |
Gross carrying amount | ' |
Land | 1,363 |
Building and improvements | 2,979 |
Total | 4,342 |
Accumulated depreciation | 10 |
1097 Wethersfield, CT | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,133 |
Land initial cost | 709 |
Building and improvements initial cost | 4,205 |
Adjustments and costs subsequent to acquisition | 219 |
Gross carrying amount | ' |
Land | 709 |
Building and improvements | 4,424 |
Total | 5,133 |
Accumulated depreciation | 1,328 |
1492 Auburndale, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,297 |
Land initial cost | 470 |
Building and improvements initial cost | 1,076 |
Adjustments and costs subsequent to acquisition | 139 |
Gross carrying amount | ' |
Land | 470 |
Building and improvements | 1,215 |
Total | 1,685 |
Accumulated depreciation | 57 |
0831 Brandon, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,327 |
Building and improvements initial cost | 5,656 |
Adjustments and costs subsequent to acquisition | 126 |
Gross carrying amount | ' |
Land | 1,327 |
Building and improvements | 5,782 |
Total | 7,109 |
Accumulated depreciation | 168 |
1392 Coral Springs, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,461 |
Land initial cost | 3,638 |
Building and improvements initial cost | 6,590 |
Adjustments and costs subsequent to acquisition | 254 |
Gross carrying amount | ' |
Land | 3,638 |
Building and improvements | 6,844 |
Total | 10,482 |
Accumulated depreciation | 1,076 |
0752 Deland, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,823 |
Land initial cost | 1,318 |
Building and improvements initial cost | 3,971 |
Adjustments and costs subsequent to acquisition | 263 |
Gross carrying amount | ' |
Land | 1,318 |
Building and improvements | 4,234 |
Total | 5,552 |
Accumulated depreciation | 909 |
1402 Estero, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,198 |
Building and improvements initial cost | 8,215 |
Adjustments and costs subsequent to acquisition | 59 |
Gross carrying amount | ' |
Land | 2,198 |
Building and improvements | 8,274 |
Total | 10,472 |
Accumulated depreciation | 911 |
0819 Fort Lauderdale, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,576 |
Building and improvements initial cost | 5,397 |
Adjustments and costs subsequent to acquisition | 192 |
Gross carrying amount | ' |
Land | 1,576 |
Building and improvements | 5,589 |
Total | 7,165 |
Accumulated depreciation | 160 |
0101 Fort Myers, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,194 |
Land initial cost | 1,985 |
Building and improvements initial cost | 4,983 |
Adjustments and costs subsequent to acquisition | 429 |
Gross carrying amount | ' |
Land | 1,985 |
Building and improvements | 5,412 |
Total | 7,397 |
Accumulated depreciation | 1,346 |
1308 Fort Myers, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,830 |
Land initial cost | 1,691 |
Building and improvements initial cost | 4,711 |
Adjustments and costs subsequent to acquisition | 279 |
Gross carrying amount | ' |
Land | 1,691 |
Building and improvements | 4,990 |
Total | 6,681 |
Accumulated depreciation | 1,294 |
1310 Ft Lauderdale, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,542 |
Land initial cost | 1,587 |
Building and improvements initial cost | 4,205 |
Adjustments and costs subsequent to acquisition | 315 |
Gross carrying amount | ' |
Land | 1,587 |
Building and improvements | 4,520 |
Total | 6,107 |
Accumulated depreciation | 1,202 |
1427 Ft Lauderdale, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,750 |
Building and improvements initial cost | 7,002 |
Adjustments and costs subsequent to acquisition | 527 |
Gross carrying amount | ' |
Land | 2,750 |
Building and improvements | 7,529 |
Total | 10,279 |
Accumulated depreciation | 543 |
1337 Greenacres, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,615 |
Land initial cost | 1,463 |
Building and improvements initial cost | 3,244 |
Adjustments and costs subsequent to acquisition | 122 |
Gross carrying amount | ' |
Land | 1,463 |
Building and improvements | 3,366 |
Total | 4,829 |
Accumulated depreciation | 813 |
1266 Hialeah, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,800 |
Building and improvements initial cost | 7,588 |
Adjustments and costs subsequent to acquisition | 96 |
Gross carrying amount | ' |
Land | 2,800 |
Building and improvements | 7,684 |
Total | 10,484 |
Accumulated depreciation | 1,067 |
1403 Hialeah, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,678 |
Building and improvements initial cost | 6,807 |
Adjustments and costs subsequent to acquisition | 36 |
Gross carrying amount | ' |
Land | 1,678 |
Building and improvements | 6,843 |
Total | 8,521 |
Accumulated depreciation | 580 |
1409 Hialeah, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,750 |
Building and improvements initial cost | 7,150 |
Adjustments and costs subsequent to acquisition | 74 |
Gross carrying amount | ' |
Land | 1,750 |
Building and improvements | 7,224 |
Total | 8,974 |
Accumulated depreciation | 739 |
0763 Hollywood, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,858 |
Land initial cost | 3,214 |
Building and improvements initial cost | 8,689 |
Adjustments and costs subsequent to acquisition | 313 |
Gross carrying amount | ' |
Land | 3,214 |
Building and improvements | 9,002 |
Total | 12,216 |
Accumulated depreciation | 1,502 |
1424 Kendall, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,375 |
Building and improvements initial cost | 5,543 |
Adjustments and costs subsequent to acquisition | 70 |
Gross carrying amount | ' |
Land | 2,375 |
Building and improvements | 5,613 |
Total | 7,988 |
Accumulated depreciation | 368 |
1493 Lakeland, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,926 |
Land initial cost | 593 |
Building and improvements initial cost | 4,701 |
Adjustments and costs subsequent to acquisition | 150 |
Gross carrying amount | ' |
Land | 593 |
Building and improvements | 4,851 |
Total | 5,444 |
Accumulated depreciation | 223 |
1494 Lakeland, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,640 |
Land initial cost | 871 |
Building and improvements initial cost | 6,905 |
Adjustments and costs subsequent to acquisition | 208 |
Gross carrying amount | ' |
Land | 871 |
Building and improvements | 7,113 |
Total | 7,984 |
Accumulated depreciation | 310 |
8298 Land O Lakes, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 798 |
Building and improvements initial cost | 4,490 |
Adjustments and costs subsequent to acquisition | -57 |
Gross carrying amount | ' |
Land | 798 |
Building and improvements | 4,433 |
Total | 5,231 |
Accumulated depreciation | 118 |
1314 Madeira Beach, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,915 |
Land initial cost | 1,686 |
Building and improvements initial cost | 5,163 |
Adjustments and costs subsequent to acquisition | 244 |
Gross carrying amount | ' |
Land | 1,686 |
Building and improvements | 5,407 |
Total | 7,093 |
Accumulated depreciation | 1,364 |
1068 Margate, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,421 |
Land initial cost | 430 |
Building and improvements initial cost | 3,139 |
Adjustments and costs subsequent to acquisition | 704 |
Gross carrying amount | ' |
Land | 469 |
Building and improvements | 3,804 |
Total | 4,273 |
Accumulated depreciation | 1,358 |
0207 Miami, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,814 |
Land initial cost | 4,867 |
Building and improvements initial cost | 7,126 |
Adjustments and costs subsequent to acquisition | 382 |
Gross carrying amount | ' |
Land | 5,042 |
Building and improvements | 7,333 |
Total | 12,375 |
Accumulated depreciation | 572 |
0208 Miami, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,793 |
Land initial cost | 1,979 |
Building and improvements initial cost | 6,513 |
Adjustments and costs subsequent to acquisition | 113 |
Gross carrying amount | ' |
Land | 1,979 |
Building and improvements | 6,626 |
Total | 8,605 |
Accumulated depreciation | 253 |
0254 Miami, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 8,121 |
Land initial cost | 3,257 |
Building and improvements initial cost | 9,713 |
Adjustments and costs subsequent to acquisition | 102 |
Gross carrying amount | ' |
Land | 3,257 |
Building and improvements | 9,815 |
Total | 13,072 |
Accumulated depreciation | 374 |
1066 Miami, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,126 |
Land initial cost | 1,325 |
Building and improvements initial cost | 4,395 |
Adjustments and costs subsequent to acquisition | 946 |
Gross carrying amount | ' |
Land | 1,439 |
Building and improvements | 5,227 |
Total | 6,666 |
Accumulated depreciation | 1,881 |
1067 Miami, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 8,056 |
Land initial cost | 5,315 |
Building and improvements initial cost | 4,305 |
Adjustments and costs subsequent to acquisition | 1,383 |
Gross carrying amount | ' |
Land | 5,859 |
Building and improvements | 5,144 |
Total | 11,003 |
Accumulated depreciation | 1,786 |
1385 Miami, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,561 |
Land initial cost | 1,238 |
Building and improvements initial cost | 7,597 |
Adjustments and costs subsequent to acquisition | 290 |
Gross carrying amount | ' |
Land | 1,238 |
Building and improvements | 7,887 |
Total | 9,125 |
Accumulated depreciation | 1,448 |
1466 Miami, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 521 |
Building and improvements initial cost | 5,198 |
Adjustments and costs subsequent to acquisition | 123 |
Gross carrying amount | ' |
Land | 521 |
Building and improvements | 5,321 |
Total | 5,842 |
Accumulated depreciation | 324 |
8133 Miami, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,305 |
Building and improvements initial cost | 11,997 |
Gross carrying amount | ' |
Land | 3,305 |
Building and improvements | 11,997 |
Total | 15,302 |
Accumulated depreciation | 38 |
1429 Miami, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,853 |
Land initial cost | 4,798 |
Building and improvements initial cost | 9,475 |
Adjustments and costs subsequent to acquisition | 118 |
Gross carrying amount | ' |
Land | 4,798 |
Building and improvements | 9,593 |
Total | 14,391 |
Accumulated depreciation | 995 |
0149 Naples, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,147 |
Land initial cost | 2,226 |
Building and improvements initial cost | 4,655 |
Adjustments and costs subsequent to acquisition | -4 |
Gross carrying amount | ' |
Land | 1,990 |
Building and improvements | 4,887 |
Total | 6,877 |
Accumulated depreciation | 332 |
8144 Naranja, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 603 |
Building and improvements initial cost | 11,223 |
Gross carrying amount | ' |
Land | 603 |
Building and improvements | 11,223 |
Total | 11,826 |
Accumulated depreciation | 36 |
8297 North Fort Myers, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 799 |
Building and improvements initial cost | 2,372 |
Adjustments and costs subsequent to acquisition | -3,171 |
1064 North Lauderdale, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,186 |
Land initial cost | 428 |
Building and improvements initial cost | 3,516 |
Adjustments and costs subsequent to acquisition | 1,004 |
Gross carrying amount | ' |
Land | 459 |
Building and improvements | 4,489 |
Total | 4,948 |
Accumulated depreciation | 1,722 |
1060 North Miami, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,256 |
Building and improvements initial cost | 6,535 |
Adjustments and costs subsequent to acquisition | 567 |
Gross carrying amount | ' |
Land | 1,256 |
Building and improvements | 7,102 |
Total | 8,358 |
Accumulated depreciation | 1,903 |
1335 Ocoee, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,113 |
Land initial cost | 872 |
Building and improvements initial cost | 3,642 |
Adjustments and costs subsequent to acquisition | 209 |
Gross carrying amount | ' |
Land | 872 |
Building and improvements | 3,851 |
Total | 4,723 |
Accumulated depreciation | 977 |
1317 Orlando, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,339 |
Land initial cost | 1,216 |
Building and improvements initial cost | 5,008 |
Adjustments and costs subsequent to acquisition | 351 |
Gross carrying amount | ' |
Land | 1,216 |
Building and improvements | 5,359 |
Total | 6,575 |
Accumulated depreciation | 1,389 |
1333 Orlando, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,106 |
Land initial cost | 2,233 |
Building and improvements initial cost | 9,223 |
Adjustments and costs subsequent to acquisition | 371 |
Gross carrying amount | ' |
Land | 2,233 |
Building and improvements | 9,594 |
Total | 11,827 |
Accumulated depreciation | 2,337 |
1334 Orlando, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,811 |
Land initial cost | 1,474 |
Building and improvements initial cost | 6,101 |
Adjustments and costs subsequent to acquisition | 271 |
Gross carrying amount | ' |
Land | 1,474 |
Building and improvements | 6,372 |
Total | 7,846 |
Accumulated depreciation | 1,530 |
1336 Orlando, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,062 |
Land initial cost | 1,166 |
Building and improvements initial cost | 4,816 |
Adjustments and costs subsequent to acquisition | 1,248 |
Gross carrying amount | ' |
Land | 1,166 |
Building and improvements | 6,064 |
Total | 7,230 |
Accumulated depreciation | 1,374 |
8136 Orlando, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 625 |
Building and improvements initial cost | 2,133 |
Adjustments and costs subsequent to acquisition | 73 |
Gross carrying amount | ' |
Land | 625 |
Building and improvements | 2,206 |
Total | 2,831 |
Accumulated depreciation | 216 |
1560 Palm Springs, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,108 |
Building and improvements initial cost | 8,028 |
Adjustments and costs subsequent to acquisition | 1 |
Gross carrying amount | ' |
Land | 2,108 |
Building and improvements | 8,029 |
Total | 10,137 |
Accumulated depreciation | 26 |
1432 Plantation, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,850 |
Adjustments and costs subsequent to acquisition | -1,504 |
Gross carrying amount | ' |
Land | 2,346 |
Total | 2,346 |
1318 Port Charlotte, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,389 |
Building and improvements initial cost | 4,632 |
Adjustments and costs subsequent to acquisition | 211 |
Gross carrying amount | ' |
Land | 1,389 |
Building and improvements | 4,843 |
Total | 6,232 |
Accumulated depreciation | 1,222 |
1319 Riverview, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,398 |
Land initial cost | 654 |
Building and improvements initial cost | 2,953 |
Adjustments and costs subsequent to acquisition | 262 |
Gross carrying amount | ' |
Land | 654 |
Building and improvements | 3,215 |
Total | 3,869 |
Accumulated depreciation | 840 |
0812 Sarasota, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 4,666 |
Building and improvements initial cost | 9,016 |
Adjustments and costs subsequent to acquisition | 208 |
Gross carrying amount | ' |
Land | 4,666 |
Building and improvements | 9,224 |
Total | 13,890 |
Accumulated depreciation | 265 |
8187 Seminole, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,620 |
Land initial cost | 1,133 |
Building and improvements initial cost | 3,017 |
Adjustments and costs subsequent to acquisition | 144 |
Gross carrying amount | ' |
Land | 1,133 |
Building and improvements | 3,161 |
Total | 4,294 |
Accumulated depreciation | 84 |
8137 St Petersburg, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,531 |
Land initial cost | 805 |
Building and improvements initial cost | 3,345 |
Adjustments and costs subsequent to acquisition | 32 |
Gross carrying amount | ' |
Land | 805 |
Building and improvements | 3,377 |
Total | 4,182 |
Accumulated depreciation | 91 |
0545 Tampa, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,003 |
Land initial cost | 1,425 |
Building and improvements initial cost | 4,766 |
Adjustments and costs subsequent to acquisition | 310 |
Gross carrying amount | ' |
Land | 1,425 |
Building and improvements | 5,076 |
Total | 6,501 |
Accumulated depreciation | 1,012 |
1366 Tampa, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,679 |
Land initial cost | 883 |
Building and improvements initial cost | 3,533 |
Adjustments and costs subsequent to acquisition | 146 |
Gross carrying amount | ' |
Land | 883 |
Building and improvements | 3,679 |
Total | 4,562 |
Accumulated depreciation | 725 |
1324 Valrico, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,590 |
Land initial cost | 1,197 |
Building and improvements initial cost | 4,411 |
Adjustments and costs subsequent to acquisition | 229 |
Gross carrying amount | ' |
Land | 1,197 |
Building and improvements | 4,640 |
Total | 5,837 |
Accumulated depreciation | 1,198 |
0692 Venice, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,901 |
Land initial cost | 1,969 |
Building and improvements initial cost | 5,903 |
Adjustments and costs subsequent to acquisition | 316 |
Gross carrying amount | ' |
Land | 1,969 |
Building and improvements | 6,219 |
Total | 8,188 |
Accumulated depreciation | 1,378 |
0976 West Palm Beach, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,812 |
Land initial cost | 1,752 |
Building and improvements initial cost | 4,909 |
Adjustments and costs subsequent to acquisition | 408 |
Gross carrying amount | ' |
Land | 1,752 |
Building and improvements | 5,317 |
Total | 7,069 |
Accumulated depreciation | 1,368 |
1065 West Palm Beach, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,484 |
Land initial cost | 1,164 |
Building and improvements initial cost | 2,511 |
Adjustments and costs subsequent to acquisition | 717 |
Gross carrying amount | ' |
Land | 1,246 |
Building and improvements | 3,146 |
Total | 4,392 |
Accumulated depreciation | 1,135 |
1069 West Palm Beach, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,709 |
Land initial cost | 1,312 |
Building and improvements initial cost | 2,511 |
Adjustments and costs subsequent to acquisition | 851 |
Gross carrying amount | ' |
Land | 1,416 |
Building and improvements | 3,258 |
Total | 4,674 |
Accumulated depreciation | 1,232 |
1186 West Palm Beach, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,458 |
Land initial cost | 1,729 |
Building and improvements initial cost | 4,058 |
Adjustments and costs subsequent to acquisition | 77 |
Gross carrying amount | ' |
Land | 1,729 |
Building and improvements | 4,135 |
Total | 5,864 |
Accumulated depreciation | 221 |
0515 West Palm Beach, FL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,478 |
Land initial cost | 1,550 |
Building and improvements initial cost | 2,894 |
Adjustments and costs subsequent to acquisition | -11 |
Gross carrying amount | ' |
Land | 1,595 |
Building and improvements | 2,838 |
Total | 4,433 |
Accumulated depreciation | 236 |
0693 Alpharetta, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,589 |
Land initial cost | 1,893 |
Building and improvements initial cost | 3,161 |
Adjustments and costs subsequent to acquisition | 153 |
Gross carrying amount | ' |
Land | 1,893 |
Building and improvements | 3,314 |
Total | 5,207 |
Accumulated depreciation | 692 |
0815 Atlanta, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,718 |
Building and improvements initial cost | 6,388 |
Adjustments and costs subsequent to acquisition | 61 |
Gross carrying amount | ' |
Land | 1,718 |
Building and improvements | 6,449 |
Total | 8,167 |
Accumulated depreciation | 186 |
1304 Atlanta, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 7,943 |
Land initial cost | 3,737 |
Building and improvements initial cost | 8,333 |
Adjustments and costs subsequent to acquisition | 395 |
Gross carrying amount | ' |
Land | 3,737 |
Building and improvements | 8,728 |
Total | 12,465 |
Accumulated depreciation | 2,240 |
1320 Atlanta, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,665 |
Building and improvements initial cost | 2,028 |
Adjustments and costs subsequent to acquisition | 199 |
Gross carrying amount | ' |
Land | 1,665 |
Building and improvements | 2,227 |
Total | 3,892 |
Accumulated depreciation | 619 |
1338 Atlanta, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,569 |
Land initial cost | 3,319 |
Building and improvements initial cost | 8,325 |
Adjustments and costs subsequent to acquisition | 499 |
Gross carrying amount | ' |
Land | 3,319 |
Building and improvements | 8,824 |
Total | 12,143 |
Accumulated depreciation | 2,179 |
1544 Augusta, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 710 |
Building and improvements initial cost | 2,299 |
Adjustments and costs subsequent to acquisition | 3 |
Gross carrying amount | ' |
Land | 710 |
Building and improvements | 2,302 |
Total | 3,012 |
Accumulated depreciation | 7 |
0699 Dacula, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,773 |
Land initial cost | 1,993 |
Building and improvements initial cost | 3,001 |
Adjustments and costs subsequent to acquisition | 127 |
Gross carrying amount | ' |
Land | 1,993 |
Building and improvements | 3,128 |
Total | 5,121 |
Accumulated depreciation | 673 |
8163 Douglasville, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,209 |
Building and improvements initial cost | 719 |
Adjustments and costs subsequent to acquisition | 310 |
Gross carrying amount | ' |
Land | 1,209 |
Building and improvements | 1,029 |
Total | 2,238 |
Accumulated depreciation | 122 |
0753 Duluth, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,522 |
Land initial cost | 1,454 |
Building and improvements initial cost | 4,151 |
Adjustments and costs subsequent to acquisition | 129 |
Gross carrying amount | ' |
Land | 1,454 |
Building and improvements | 4,280 |
Total | 5,734 |
Accumulated depreciation | 754 |
8162 Kennesaw, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 673 |
Building and improvements initial cost | 1,151 |
Adjustments and costs subsequent to acquisition | 127 |
Gross carrying amount | ' |
Land | 673 |
Building and improvements | 1,278 |
Total | 1,951 |
Accumulated depreciation | 135 |
1552 Lawrenceville, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,117 |
Building and improvements initial cost | 2,784 |
Adjustments and costs subsequent to acquisition | 3 |
Gross carrying amount | ' |
Land | 2,117 |
Building and improvements | 2,787 |
Total | 4,904 |
Accumulated depreciation | 9 |
8134 Lithonia, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,958 |
Building and improvements initial cost | 3,645 |
Adjustments and costs subsequent to acquisition | 86 |
Gross carrying amount | ' |
Land | 1,958 |
Building and improvements | 3,731 |
Total | 5,689 |
Accumulated depreciation | 410 |
8161 Marietta, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 887 |
Building and improvements initial cost | 2,617 |
Adjustments and costs subsequent to acquisition | 213 |
Gross carrying amount | ' |
Land | 887 |
Building and improvements | 2,830 |
Total | 3,717 |
Accumulated depreciation | 285 |
1321 Snellville, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,691 |
Building and improvements initial cost | 4,026 |
Adjustments and costs subsequent to acquisition | 280 |
Gross carrying amount | ' |
Land | 2,691 |
Building and improvements | 4,306 |
Total | 6,997 |
Accumulated depreciation | 1,120 |
0417 Stone Mountain, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,629 |
Land initial cost | 925 |
Building and improvements initial cost | 3,505 |
Adjustments and costs subsequent to acquisition | 305 |
Gross carrying amount | ' |
Land | 925 |
Building and improvements | 3,810 |
Total | 4,735 |
Accumulated depreciation | 912 |
1322 Stone Mountain, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,870 |
Land initial cost | 1,817 |
Building and improvements initial cost | 4,382 |
Adjustments and costs subsequent to acquisition | 293 |
Gross carrying amount | ' |
Land | 1,817 |
Building and improvements | 4,675 |
Total | 6,492 |
Accumulated depreciation | 1,189 |
0745 Sugar Hill, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,368 |
Building and improvements initial cost | 2,540 |
Adjustments and costs subsequent to acquisition | 190 |
Gross carrying amount | ' |
Land | 1,368 |
Building and improvements | 2,730 |
Total | 4,098 |
Accumulated depreciation | 511 |
0754 Sugar Hill, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,371 |
Building and improvements initial cost | 2,547 |
Adjustments and costs subsequent to acquisition | 184 |
Gross carrying amount | ' |
Land | 1,371 |
Building and improvements | 2,731 |
Total | 4,102 |
Accumulated depreciation | 512 |
1599 Tucker, GA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,773 |
Building and improvements initial cost | 10,456 |
Adjustments and costs subsequent to acquisition | 2 |
Gross carrying amount | ' |
Land | 1,773 |
Building and improvements | 10,458 |
Total | 12,231 |
Accumulated depreciation | 56 |
1313 Alpharetta, GL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,973 |
Building and improvements initial cost | 1,587 |
Adjustments and costs subsequent to acquisition | 248 |
Gross carrying amount | ' |
Land | 1,973 |
Building and improvements | 1,835 |
Total | 3,808 |
Accumulated depreciation | 494 |
1521 Honolulu, HI | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 4,674 |
Building and improvements initial cost | 18,350 |
Adjustments and costs subsequent to acquisition | 12 |
Gross carrying amount | ' |
Land | 4,674 |
Building and improvements | 18,362 |
Total | 23,036 |
Accumulated depreciation | 295 |
1375 Kahului, HI | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,984 |
Building and improvements initial cost | 15,044 |
Adjustments and costs subsequent to acquisition | 656 |
Gross carrying amount | ' |
Land | 3,984 |
Building and improvements | 15,700 |
Total | 19,684 |
Accumulated depreciation | 2,861 |
1376 Kapolei, HI | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 9,700 |
Building and improvements initial cost | 24,701 |
Adjustments and costs subsequent to acquisition | 430 |
Gross carrying amount | ' |
Building and improvements | 25,131 |
Total | 25,131 |
Accumulated depreciation | 4,351 |
1567 Kapolei, HI | ' |
Real Estate and Accumulated Depreciation | ' |
Building and improvements initial cost | 7,776 |
Gross carrying amount | ' |
Building and improvements | 7,776 |
Total | 7,776 |
Accumulated depreciation | 8 |
1520 Wahiawa, HI | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,317 |
Building and improvements initial cost | 2,626 |
Adjustments and costs subsequent to acquisition | 15 |
Gross carrying amount | ' |
Land | 1,317 |
Building and improvements | 2,641 |
Total | 3,958 |
Accumulated depreciation | 43 |
8129 Bedford Park, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 922 |
Building and improvements initial cost | 3,289 |
Adjustments and costs subsequent to acquisition | 8 |
Gross carrying amount | ' |
Land | 922 |
Building and improvements | 3,297 |
Total | 4,219 |
Accumulated depreciation | 11 |
0728 Chicago, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,050 |
Land initial cost | 449 |
Building and improvements initial cost | 2,471 |
Adjustments and costs subsequent to acquisition | 744 |
Gross carrying amount | ' |
Land | 449 |
Building and improvements | 3,215 |
Total | 3,664 |
Accumulated depreciation | 875 |
0729 Chicago, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,764 |
Land initial cost | 472 |
Building and improvements initial cost | 2,582 |
Adjustments and costs subsequent to acquisition | 720 |
Gross carrying amount | ' |
Land | 472 |
Building and improvements | 3,302 |
Total | 3,774 |
Accumulated depreciation | 932 |
0731 Chicago, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,194 |
Land initial cost | 621 |
Building and improvements initial cost | 3,428 |
Adjustments and costs subsequent to acquisition | 904 |
Gross carrying amount | ' |
Land | 621 |
Building and improvements | 4,332 |
Total | 4,953 |
Accumulated depreciation | 1,229 |
1226 Chicago, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,925 |
Gross carrying amount | ' |
Land | 1,925 |
Total | 1,925 |
1229 Chicago, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 8,642 |
Land initial cost | 1,318 |
Building and improvements initial cost | 9,485 |
Adjustments and costs subsequent to acquisition | 35 |
Gross carrying amount | ' |
Land | 1,318 |
Building and improvements | 9,520 |
Total | 10,838 |
Accumulated depreciation | 214 |
8130 Chicago, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,363 |
Building and improvements initial cost | 5,850 |
Gross carrying amount | ' |
Land | 1,363 |
Building and improvements | 5,850 |
Total | 7,213 |
Accumulated depreciation | 19 |
8131 Chicago, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,143 |
Building and improvements initial cost | 6,138 |
Adjustments and costs subsequent to acquisition | 4 |
Gross carrying amount | ' |
Land | 1,143 |
Building and improvements | 6,142 |
Total | 7,285 |
Accumulated depreciation | 20 |
8259 Chicago, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,881 |
Building and improvements initial cost | 6,324 |
Gross carrying amount | ' |
Land | 2,881 |
Building and improvements | 6,324 |
Total | 9,205 |
Accumulated depreciation | 20 |
1108 Crest Hill, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,412 |
Land initial cost | 847 |
Building and improvements initial cost | 2,946 |
Adjustments and costs subsequent to acquisition | 810 |
Gross carrying amount | ' |
Land | 968 |
Building and improvements | 3,635 |
Total | 4,603 |
Accumulated depreciation | 1,010 |
1171 Gurnee, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,374 |
Building and improvements initial cost | 8,296 |
Adjustments and costs subsequent to acquisition | 118 |
Gross carrying amount | ' |
Land | 1,374 |
Building and improvements | 8,414 |
Total | 9,788 |
Accumulated depreciation | 1,355 |
1178 Highland Park, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 7,232 |
Land initial cost | 5,798 |
Building and improvements initial cost | 6,016 |
Adjustments and costs subsequent to acquisition | 74 |
Gross carrying amount | ' |
Land | 5,798 |
Building and improvements | 6,090 |
Total | 11,888 |
Accumulated depreciation | 331 |
8132 Lincolnshire, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,438 |
Building and improvements initial cost | 5,128 |
Gross carrying amount | ' |
Land | 1,438 |
Building and improvements | 5,128 |
Total | 6,566 |
Accumulated depreciation | 16 |
1173 Naperville, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,934 |
Land initial cost | 1,860 |
Building and improvements initial cost | 5,793 |
Adjustments and costs subsequent to acquisition | 79 |
Gross carrying amount | ' |
Land | 1,860 |
Building and improvements | 5,872 |
Total | 7,732 |
Accumulated depreciation | 315 |
1259 Naperville, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,800 |
Building and improvements initial cost | 7,355 |
Adjustments and costs subsequent to acquisition | -731 |
Gross carrying amount | ' |
Land | 1,950 |
Building and improvements | 7,474 |
Total | 9,424 |
Accumulated depreciation | 982 |
1242 North Aurora, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,485 |
Land initial cost | 600 |
Building and improvements initial cost | 5,833 |
Adjustments and costs subsequent to acquisition | 121 |
Gross carrying amount | ' |
Land | 600 |
Building and improvements | 5,954 |
Total | 6,554 |
Accumulated depreciation | 875 |
0730 Skokie, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,131 |
Land initial cost | 1,119 |
Building and improvements initial cost | 7,502 |
Adjustments and costs subsequent to acquisition | 194 |
Gross carrying amount | ' |
Land | 1,119 |
Building and improvements | 7,696 |
Total | 8,815 |
Accumulated depreciation | 292 |
1104 South Holland, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,543 |
Land initial cost | 839 |
Building and improvements initial cost | 2,879 |
Adjustments and costs subsequent to acquisition | 336 |
Gross carrying amount | ' |
Land | 865 |
Building and improvements | 3,189 |
Total | 4,054 |
Accumulated depreciation | 972 |
1263 Tinley Park, IL | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,823 |
Building and improvements initial cost | 4,794 |
Adjustments and costs subsequent to acquisition | -191 |
Gross carrying amount | ' |
Land | 1,548 |
Building and improvements | 4,878 |
Total | 6,426 |
Accumulated depreciation | 668 |
1393 Carmel, IN | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,169 |
Building and improvements initial cost | 4,393 |
Adjustments and costs subsequent to acquisition | 238 |
Gross carrying amount | ' |
Land | 1,169 |
Building and improvements | 4,631 |
Total | 5,800 |
Accumulated depreciation | 716 |
1514 Connersville, IN | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 472 |
Building and improvements initial cost | 315 |
Adjustments and costs subsequent to acquisition | 106 |
Gross carrying amount | ' |
Land | 472 |
Building and improvements | 421 |
Total | 893 |
Accumulated depreciation | 38 |
1394 Fort Wayne, IN | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,899 |
Building and improvements initial cost | 3,292 |
Adjustments and costs subsequent to acquisition | 277 |
Gross carrying amount | ' |
Land | 1,899 |
Building and improvements | 3,569 |
Total | 5,468 |
Accumulated depreciation | 578 |
0652 Indianapolis, IN | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 588 |
Building and improvements initial cost | 3,457 |
Adjustments and costs subsequent to acquisition | 284 |
Gross carrying amount | ' |
Land | 588 |
Building and improvements | 3,741 |
Total | 4,329 |
Accumulated depreciation | 725 |
0827 Indianapolis, IN | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,107 |
Land initial cost | 646 |
Building and improvements initial cost | 1,294 |
Adjustments and costs subsequent to acquisition | 154 |
Gross carrying amount | ' |
Land | 646 |
Building and improvements | 1,448 |
Total | 2,094 |
Accumulated depreciation | 45 |
1395 Indianapolis, IN | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 426 |
Building and improvements initial cost | 2,903 |
Adjustments and costs subsequent to acquisition | 308 |
Gross carrying amount | ' |
Land | 426 |
Building and improvements | 3,211 |
Total | 3,637 |
Accumulated depreciation | 538 |
1396 Indianapolis, IN | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 850 |
Building and improvements initial cost | 4,545 |
Adjustments and costs subsequent to acquisition | 356 |
Gross carrying amount | ' |
Land | 850 |
Building and improvements | 4,901 |
Total | 5,751 |
Accumulated depreciation | 783 |
1397 Mishawaka, IN | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,648 |
Land initial cost | 630 |
Building and improvements initial cost | 3,349 |
Adjustments and costs subsequent to acquisition | 247 |
Gross carrying amount | ' |
Land | 630 |
Building and improvements | 3,596 |
Total | 4,226 |
Accumulated depreciation | 578 |
1513 Richmond, IN | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 723 |
Building and improvements initial cost | 482 |
Adjustments and costs subsequent to acquisition | 415 |
Gross carrying amount | ' |
Land | 723 |
Building and improvements | 897 |
Total | 1,620 |
Accumulated depreciation | 61 |
0586 Wichita, KS | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,105 |
Land initial cost | 366 |
Building and improvements initial cost | 1,897 |
Adjustments and costs subsequent to acquisition | 371 |
Gross carrying amount | ' |
Land | 366 |
Building and improvements | 2,268 |
Total | 2,634 |
Accumulated depreciation | 582 |
1515 Covington, KY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,033 |
Land initial cost | 839 |
Building and improvements initial cost | 2,543 |
Adjustments and costs subsequent to acquisition | 104 |
Gross carrying amount | ' |
Land | 839 |
Building and improvements | 2,647 |
Total | 3,486 |
Accumulated depreciation | 190 |
0343 Louisville, KY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,859 |
Land initial cost | 586 |
Building and improvements initial cost | 3,244 |
Adjustments and costs subsequent to acquisition | 384 |
Gross carrying amount | ' |
Land | 586 |
Building and improvements | 3,628 |
Total | 4,214 |
Accumulated depreciation | 905 |
0648 Louisville, KY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,664 |
Land initial cost | 1,217 |
Building and improvements initial cost | 4,611 |
Adjustments and costs subsequent to acquisition | 185 |
Gross carrying amount | ' |
Land | 1,217 |
Building and improvements | 4,796 |
Total | 6,013 |
Accumulated depreciation | 1,143 |
0668 Louisville, KY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,816 |
Land initial cost | 892 |
Building and improvements initial cost | 2,677 |
Adjustments and costs subsequent to acquisition | 186 |
Gross carrying amount | ' |
Land | 892 |
Building and improvements | 2,863 |
Total | 3,755 |
Accumulated depreciation | 638 |
1315 Metairie, LA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,848 |
Land initial cost | 2,056 |
Building and improvements initial cost | 4,216 |
Adjustments and costs subsequent to acquisition | 173 |
Gross carrying amount | ' |
Land | 2,056 |
Building and improvements | 4,389 |
Total | 6,445 |
Accumulated depreciation | 1,110 |
1316 New Orleans, LA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,441 |
Land initial cost | 4,058 |
Building and improvements initial cost | 4,325 |
Adjustments and costs subsequent to acquisition | 626 |
Gross carrying amount | ' |
Land | 4,058 |
Building and improvements | 4,951 |
Total | 9,009 |
Accumulated depreciation | 1,331 |
1028 Ashland, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 474 |
Building and improvements initial cost | 3,324 |
Adjustments and costs subsequent to acquisition | 345 |
Gross carrying amount | ' |
Land | 474 |
Building and improvements | 3,669 |
Total | 4,143 |
Accumulated depreciation | 1,255 |
1010 Auburn, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 918 |
Building and improvements initial cost | 3,728 |
Adjustments and costs subsequent to acquisition | 262 |
Gross carrying amount | ' |
Land | 918 |
Building and improvements | 3,990 |
Total | 4,908 |
Accumulated depreciation | 1,421 |
1546 Billerica, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,023 |
Building and improvements initial cost | 6,697 |
Gross carrying amount | ' |
Land | 3,023 |
Building and improvements | 6,697 |
Total | 9,720 |
Accumulated depreciation | 21 |
1025 Brockton, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 647 |
Building and improvements initial cost | 2,762 |
Adjustments and costs subsequent to acquisition | 165 |
Gross carrying amount | ' |
Land | 647 |
Building and improvements | 2,927 |
Total | 3,574 |
Accumulated depreciation | 967 |
1547 Brockton, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 829 |
Building and improvements initial cost | 6,195 |
Gross carrying amount | ' |
Land | 829 |
Building and improvements | 6,195 |
Total | 7,024 |
Accumulated depreciation | 20 |
8074 Danvers, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,115 |
Building and improvements initial cost | 5,736 |
Adjustments and costs subsequent to acquisition | 65 |
Gross carrying amount | ' |
Land | 3,115 |
Building and improvements | 5,801 |
Total | 8,916 |
Accumulated depreciation | 167 |
1056 Dedham, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,127 |
Building and improvements initial cost | 3,041 |
Adjustments and costs subsequent to acquisition | 562 |
Gross carrying amount | ' |
Land | 2,127 |
Building and improvements | 3,603 |
Total | 5,730 |
Accumulated depreciation | 1,311 |
1205 Dedham, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,443 |
Building and improvements initial cost | 7,328 |
Adjustments and costs subsequent to acquisition | 1,356 |
Gross carrying amount | ' |
Land | 2,443 |
Building and improvements | 8,684 |
Total | 11,127 |
Accumulated depreciation | 2,384 |
1208 East Somerville, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Adjustments and costs subsequent to acquisition | 167 |
Gross carrying amount | ' |
Building and improvements | 167 |
Total | 167 |
Accumulated depreciation | 107 |
0675 Everett, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 692 |
Building and improvements initial cost | 2,129 |
Adjustments and costs subsequent to acquisition | 773 |
Gross carrying amount | ' |
Land | 692 |
Building and improvements | 2,902 |
Total | 3,594 |
Accumulated depreciation | 821 |
1001 Foxboro, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 759 |
Building and improvements initial cost | 4,158 |
Adjustments and costs subsequent to acquisition | 559 |
Gross carrying amount | ' |
Land | 759 |
Building and improvements | 4,717 |
Total | 5,476 |
Accumulated depreciation | 1,917 |
0734 Framingham, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Adjustments and costs subsequent to acquisition | 20 |
Gross carrying amount | ' |
Building and improvements | 20 |
Total | 20 |
Accumulated depreciation | 3 |
1002 Hudson, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,368 |
Land initial cost | 806 |
Building and improvements initial cost | 3,122 |
Adjustments and costs subsequent to acquisition | 361 |
Gross carrying amount | ' |
Land | 806 |
Building and improvements | 3,483 |
Total | 4,289 |
Accumulated depreciation | 1,365 |
1098 Jamaica Plain, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 9,685 |
Land initial cost | 3,285 |
Building and improvements initial cost | 11,275 |
Adjustments and costs subsequent to acquisition | 580 |
Gross carrying amount | ' |
Land | 3,285 |
Building and improvements | 11,855 |
Total | 15,140 |
Accumulated depreciation | 1,835 |
1084 Kingston, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 555 |
Building and improvements initial cost | 2,491 |
Adjustments and costs subsequent to acquisition | 171 |
Gross carrying amount | ' |
Land | 555 |
Building and improvements | 2,662 |
Total | 3,217 |
Accumulated depreciation | 950 |
7002 Lynn, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,703 |
Building and improvements initial cost | 3,237 |
Adjustments and costs subsequent to acquisition | 375 |
Gross carrying amount | ' |
Land | 1,703 |
Building and improvements | 3,612 |
Total | 5,315 |
Accumulated depreciation | 1,248 |
1035 Marshfield, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,667 |
Land initial cost | 1,039 |
Building and improvements initial cost | 4,155 |
Adjustments and costs subsequent to acquisition | 243 |
Gross carrying amount | ' |
Land | 1,026 |
Building and improvements | 4,411 |
Total | 5,437 |
Accumulated depreciation | 1,156 |
1099 Milton, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,838 |
Building and improvements initial cost | 3,979 |
Adjustments and costs subsequent to acquisition | 6,606 |
Gross carrying amount | ' |
Land | 2,838 |
Building and improvements | 10,585 |
Total | 13,423 |
Accumulated depreciation | 2,167 |
1554 North Andover, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 773 |
Building and improvements initial cost | 4,120 |
Gross carrying amount | ' |
Land | 773 |
Building and improvements | 4,120 |
Total | 4,893 |
Accumulated depreciation | 13 |
1011 North Oxford, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 482 |
Building and improvements initial cost | 1,762 |
Adjustments and costs subsequent to acquisition | 462 |
Gross carrying amount | ' |
Land | 528 |
Building and improvements | 2,178 |
Total | 2,706 |
Accumulated depreciation | 855 |
1022 Northborough, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,599 |
Land initial cost | 280 |
Building and improvements initial cost | 2,715 |
Adjustments and costs subsequent to acquisition | 512 |
Gross carrying amount | ' |
Land | 280 |
Building and improvements | 3,227 |
Total | 3,507 |
Accumulated depreciation | 1,237 |
1019 Norwood, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,729 |
Land initial cost | 2,160 |
Building and improvements initial cost | 2,336 |
Adjustments and costs subsequent to acquisition | 1,704 |
Gross carrying amount | ' |
Land | 2,221 |
Building and improvements | 3,979 |
Total | 6,200 |
Accumulated depreciation | 1,304 |
0519 Plainville, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,064 |
Land initial cost | 2,223 |
Building and improvements initial cost | 4,430 |
Adjustments and costs subsequent to acquisition | 403 |
Gross carrying amount | ' |
Land | 2,223 |
Building and improvements | 4,833 |
Total | 7,056 |
Accumulated depreciation | 1,420 |
1204 Quincy, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,359 |
Building and improvements initial cost | 4,078 |
Adjustments and costs subsequent to acquisition | 250 |
Gross carrying amount | ' |
Land | 1,359 |
Building and improvements | 4,328 |
Total | 5,687 |
Accumulated depreciation | 1,212 |
1023 Raynham, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 588 |
Building and improvements initial cost | 2,270 |
Adjustments and costs subsequent to acquisition | 737 |
Gross carrying amount | ' |
Land | 670 |
Building and improvements | 2,925 |
Total | 3,595 |
Accumulated depreciation | 1,019 |
1135 Revere, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,099 |
Land initial cost | 2,275 |
Building and improvements initial cost | 6,935 |
Adjustments and costs subsequent to acquisition | 76 |
Gross carrying amount | ' |
Land | 2,275 |
Building and improvements | 7,011 |
Total | 9,286 |
Accumulated depreciation | 381 |
1094 Saugus, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,725 |
Building and improvements initial cost | 5,514 |
Adjustments and costs subsequent to acquisition | 645 |
Gross carrying amount | ' |
Land | 1,725 |
Building and improvements | 6,159 |
Total | 7,884 |
Accumulated depreciation | 1,925 |
1107 Somerville, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 12,180 |
Land initial cost | 1,728 |
Building and improvements initial cost | 6,570 |
Adjustments and costs subsequent to acquisition | 648 |
Gross carrying amount | ' |
Land | 1,731 |
Building and improvements | 7,215 |
Total | 8,946 |
Accumulated depreciation | 2,311 |
0746 Stoneham, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,005 |
Land initial cost | 944 |
Building and improvements initial cost | 5,241 |
Adjustments and costs subsequent to acquisition | 170 |
Gross carrying amount | ' |
Land | 944 |
Building and improvements | 5,411 |
Total | 6,355 |
Accumulated depreciation | 1,259 |
1047 Stoughton, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,754 |
Building and improvements initial cost | 2,769 |
Adjustments and costs subsequent to acquisition | 283 |
Gross carrying amount | ' |
Land | 1,754 |
Building and improvements | 3,052 |
Total | 4,806 |
Accumulated depreciation | 1,126 |
0261 Tyngsboro, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,523 |
Land initial cost | 1,843 |
Building and improvements initial cost | 5,004 |
Adjustments and costs subsequent to acquisition | 30 |
Gross carrying amount | ' |
Land | 1,843 |
Building and improvements | 5,034 |
Total | 6,877 |
Accumulated depreciation | 193 |
1206 Waltham, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,256 |
Land initial cost | 3,770 |
Building and improvements initial cost | 11,310 |
Adjustments and costs subsequent to acquisition | 1,108 |
Gross carrying amount | ' |
Land | 3,770 |
Building and improvements | 12,418 |
Total | 16,188 |
Accumulated depreciation | 3,255 |
7001 Weymouth, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,806 |
Building and improvements initial cost | 3,129 |
Adjustments and costs subsequent to acquisition | 218 |
Gross carrying amount | ' |
Land | 2,806 |
Building and improvements | 3,347 |
Total | 6,153 |
Accumulated depreciation | 1,234 |
1207 Woburn, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Adjustments and costs subsequent to acquisition | 290 |
Gross carrying amount | ' |
Building and improvements | 290 |
Total | 290 |
Accumulated depreciation | 138 |
1003 Worcester, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,568 |
Land initial cost | 896 |
Building and improvements initial cost | 4,377 |
Adjustments and costs subsequent to acquisition | 3,159 |
Gross carrying amount | ' |
Land | 896 |
Building and improvements | 7,536 |
Total | 8,432 |
Accumulated depreciation | 2,251 |
1219 Worcester, MA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,179 |
Land initial cost | 1,350 |
Building and improvements initial cost | 4,433 |
Adjustments and costs subsequent to acquisition | 129 |
Gross carrying amount | ' |
Land | 1,350 |
Building and improvements | 4,562 |
Total | 5,912 |
Accumulated depreciation | 870 |
0152 Annapolis, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,134 |
Land initial cost | 1,375 |
Building and improvements initial cost | 8,896 |
Adjustments and costs subsequent to acquisition | 310 |
Gross carrying amount | ' |
Land | 1,375 |
Building and improvements | 9,206 |
Total | 10,581 |
Accumulated depreciation | 1,642 |
1381 Annapolis, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,575 |
Land initial cost | 5,248 |
Building and improvements initial cost | 7,247 |
Adjustments and costs subsequent to acquisition | 192 |
Gross carrying amount | ' |
Land | 5,248 |
Building and improvements | 7,439 |
Total | 12,687 |
Accumulated depreciation | 1,348 |
0919 Arnold, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 9,054 |
Land initial cost | 2,558 |
Building and improvements initial cost | 9,446 |
Adjustments and costs subsequent to acquisition | 417 |
Gross carrying amount | ' |
Land | 2,558 |
Building and improvements | 9,863 |
Total | 12,421 |
Accumulated depreciation | 2,272 |
0750 Baltimore, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,644 |
Land initial cost | 1,185 |
Building and improvements initial cost | 5,051 |
Adjustments and costs subsequent to acquisition | 130 |
Gross carrying amount | ' |
Land | 1,185 |
Building and improvements | 5,181 |
Total | 6,366 |
Accumulated depreciation | 216 |
1218 Baltimore, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,936 |
Land initial cost | 1,266 |
Building and improvements initial cost | 10,789 |
Adjustments and costs subsequent to acquisition | 65 |
Gross carrying amount | ' |
Land | 1,266 |
Building and improvements | 10,854 |
Total | 12,120 |
Accumulated depreciation | 244 |
1233 Baltimore, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,487 |
Land initial cost | 800 |
Building and improvements initial cost | 5,955 |
Adjustments and costs subsequent to acquisition | 110 |
Gross carrying amount | ' |
Land | 800 |
Building and improvements | 6,065 |
Total | 6,865 |
Accumulated depreciation | 822 |
1439 Baltimore, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,900 |
Building and improvements initial cost | 5,277 |
Adjustments and costs subsequent to acquisition | 131 |
Gross carrying amount | ' |
Land | 1,900 |
Building and improvements | 5,408 |
Total | 7,308 |
Accumulated depreciation | 501 |
0552 Bethesda, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 12,200 |
Land initial cost | 3,671 |
Building and improvements initial cost | 18,331 |
Adjustments and costs subsequent to acquisition | 427 |
Gross carrying amount | ' |
Land | 3,671 |
Building and improvements | 18,758 |
Total | 22,429 |
Accumulated depreciation | 4,779 |
1453 Capitol Heights, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 8,447 |
Land initial cost | 1,461 |
Building and improvements initial cost | 9,866 |
Adjustments and costs subsequent to acquisition | 201 |
Gross carrying amount | ' |
Land | 1,461 |
Building and improvements | 10,067 |
Total | 11,528 |
Accumulated depreciation | 865 |
0757 Cockeysville, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,959 |
Land initial cost | 465 |
Building and improvements initial cost | 5,600 |
Adjustments and costs subsequent to acquisition | 200 |
Gross carrying amount | ' |
Land | 465 |
Building and improvements | 5,800 |
Total | 6,265 |
Accumulated depreciation | 278 |
0950 Columbia, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 8,006 |
Land initial cost | 1,736 |
Building and improvements initial cost | 9,632 |
Adjustments and costs subsequent to acquisition | 265 |
Gross carrying amount | ' |
Land | 1,736 |
Building and improvements | 9,897 |
Total | 11,633 |
Accumulated depreciation | 2,266 |
1262 Edgewood, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,000 |
Adjustments and costs subsequent to acquisition | -575 |
Gross carrying amount | ' |
Land | 425 |
Total | 425 |
0980 Ft. Washington, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 9,232 |
Land initial cost | 4,920 |
Building and improvements initial cost | 9,174 |
Adjustments and costs subsequent to acquisition | 208 |
Gross carrying amount | ' |
Land | 4,920 |
Building and improvements | 9,382 |
Total | 14,302 |
Accumulated depreciation | 1,742 |
0258 Gambrills, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,926 |
Land initial cost | 1,905 |
Building and improvements initial cost | 7,104 |
Adjustments and costs subsequent to acquisition | 25 |
Gross carrying amount | ' |
Land | 1,905 |
Building and improvements | 7,129 |
Total | 9,034 |
Accumulated depreciation | 268 |
8248 Glen Burnie, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,585 |
Land initial cost | 1,303 |
Building and improvements initial cost | 4,218 |
Adjustments and costs subsequent to acquisition | 286 |
Gross carrying amount | ' |
Land | 1,303 |
Building and improvements | 4,504 |
Total | 5,807 |
Accumulated depreciation | 320 |
1500 Hanover, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 7,240 |
Land initial cost | 2,160 |
Building and improvements initial cost | 11,340 |
Adjustments and costs subsequent to acquisition | 68 |
Gross carrying amount | ' |
Land | 2,160 |
Building and improvements | 11,408 |
Total | 13,568 |
Accumulated depreciation | 159 |
1195 Lanham, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 12,477 |
Land initial cost | 3,346 |
Building and improvements initial cost | 10,079 |
Adjustments and costs subsequent to acquisition | 583 |
Gross carrying amount | ' |
Land | 2,618 |
Building and improvements | 11,390 |
Total | 14,008 |
Accumulated depreciation | 3,098 |
1292 Laurel Heights, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,104 |
Land initial cost | 3,000 |
Building and improvements initial cost | 5,930 |
Adjustments and costs subsequent to acquisition | 87 |
Gross carrying amount | ' |
Land | 3,000 |
Building and improvements | 6,017 |
Total | 9,017 |
Accumulated depreciation | 978 |
0512 Lexington Park, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 4,314 |
Building and improvements initial cost | 8,412 |
Adjustments and costs subsequent to acquisition | 81 |
Gross carrying amount | ' |
Land | 4,314 |
Building and improvements | 8,493 |
Total | 12,807 |
Accumulated depreciation | 227 |
0918 Pasadena, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,810 |
Land initial cost | 1,869 |
Building and improvements initial cost | 3,056 |
Adjustments and costs subsequent to acquisition | 701 |
Gross carrying amount | ' |
Land | 1,869 |
Building and improvements | 3,757 |
Total | 5,626 |
Accumulated depreciation | 701 |
1287 Pasadena, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,500 |
Building and improvements initial cost | 7,407 |
Adjustments and costs subsequent to acquisition | 128 |
Gross carrying amount | ' |
Land | 3,500 |
Building and improvements | 7,535 |
Total | 11,035 |
Accumulated depreciation | 501 |
8211 Randallstown, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,645 |
Land initial cost | 764 |
Building and improvements initial cost | 6,331 |
Adjustments and costs subsequent to acquisition | 207 |
Gross carrying amount | ' |
Land | 764 |
Building and improvements | 6,538 |
Total | 7,302 |
Accumulated depreciation | 420 |
0380 Rockville, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 12,348 |
Land initial cost | 4,596 |
Building and improvements initial cost | 11,328 |
Adjustments and costs subsequent to acquisition | 308 |
Gross carrying amount | ' |
Land | 4,596 |
Building and improvements | 11,636 |
Total | 16,232 |
Accumulated depreciation | 2,249 |
0507 Towson, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,908 |
Land initial cost | 861 |
Building and improvements initial cost | 4,742 |
Adjustments and costs subsequent to acquisition | 211 |
Gross carrying amount | ' |
Land | 861 |
Building and improvements | 4,953 |
Total | 5,814 |
Accumulated depreciation | 1,187 |
0588 Towson, MD | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,231 |
Land initial cost | 1,094 |
Building and improvements initial cost | 9,598 |
Adjustments and costs subsequent to acquisition | 45 |
Gross carrying amount | ' |
Land | 1,094 |
Building and improvements | 9,643 |
Total | 10,737 |
Accumulated depreciation | 363 |
0553 Belleville, MI | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,030 |
Land initial cost | 954 |
Building and improvements initial cost | 4,984 |
Adjustments and costs subsequent to acquisition | 56 |
Gross carrying amount | ' |
Land | 954 |
Building and improvements | 5,040 |
Total | 5,994 |
Accumulated depreciation | 189 |
0309 Grandville, MI | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,620 |
Land initial cost | 726 |
Building and improvements initial cost | 1,298 |
Adjustments and costs subsequent to acquisition | 396 |
Gross carrying amount | ' |
Land | 726 |
Building and improvements | 1,694 |
Total | 2,420 |
Accumulated depreciation | 503 |
0556 Mount Clemens, MI | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,002 |
Land initial cost | 798 |
Building and improvements initial cost | 1,796 |
Adjustments and costs subsequent to acquisition | 439 |
Gross carrying amount | ' |
Land | 798 |
Building and improvements | 2,235 |
Total | 3,033 |
Accumulated depreciation | 569 |
0664 Florissant, MO | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,509 |
Land initial cost | 1,241 |
Building and improvements initial cost | 4,648 |
Adjustments and costs subsequent to acquisition | 326 |
Gross carrying amount | ' |
Land | 1,241 |
Building and improvements | 4,974 |
Total | 6,215 |
Accumulated depreciation | 981 |
0985 Grandview, MO | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,048 |
Land initial cost | 612 |
Building and improvements initial cost | 1,770 |
Adjustments and costs subsequent to acquisition | 387 |
Gross carrying amount | ' |
Land | 612 |
Building and improvements | 2,157 |
Total | 2,769 |
Accumulated depreciation | 635 |
0656 St. Louis, MO | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,444 |
Building and improvements initial cost | 4,162 |
Adjustments and costs subsequent to acquisition | 339 |
Gross carrying amount | ' |
Land | 1,444 |
Building and improvements | 4,501 |
Total | 5,945 |
Accumulated depreciation | 874 |
0663 St. Louis, MO | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,720 |
Land initial cost | 676 |
Building and improvements initial cost | 3,551 |
Adjustments and costs subsequent to acquisition | 304 |
Gross carrying amount | ' |
Land | 676 |
Building and improvements | 3,855 |
Total | 4,531 |
Accumulated depreciation | 765 |
1061 St. Louis, MO | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,677 |
Land initial cost | 631 |
Building and improvements initial cost | 2,159 |
Adjustments and costs subsequent to acquisition | 616 |
Gross carrying amount | ' |
Land | 690 |
Building and improvements | 2,716 |
Total | 3,406 |
Accumulated depreciation | 1,010 |
1062 St. Louis, MO | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,647 |
Land initial cost | 156 |
Building and improvements initial cost | 1,313 |
Adjustments and costs subsequent to acquisition | 617 |
Gross carrying amount | ' |
Land | 173 |
Building and improvements | 1,913 |
Total | 2,086 |
Accumulated depreciation | 765 |
8277 Cary, NC | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,614 |
Building and improvements initial cost | 1,788 |
Adjustments and costs subsequent to acquisition | 1 |
Gross carrying amount | ' |
Land | 3,614 |
Building and improvements | 1,789 |
Total | 5,403 |
Accumulated depreciation | 10 |
8027 Merrimack, NH | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,887 |
Land initial cost | 754 |
Building and improvements initial cost | 3,299 |
Adjustments and costs subsequent to acquisition | 599 |
Gross carrying amount | ' |
Land | 817 |
Building and improvements | 3,835 |
Total | 4,652 |
Accumulated depreciation | 1,168 |
0738 Nashua, NH | ' |
Real Estate and Accumulated Depreciation | ' |
Building and improvements initial cost | 755 |
Adjustments and costs subsequent to acquisition | 101 |
Gross carrying amount | ' |
Building and improvements | 856 |
Total | 856 |
Accumulated depreciation | 286 |
1329 Avenel, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 7,739 |
Land initial cost | 1,518 |
Building and improvements initial cost | 8,037 |
Adjustments and costs subsequent to acquisition | 331 |
Gross carrying amount | ' |
Land | 1,518 |
Building and improvements | 8,368 |
Total | 9,886 |
Accumulated depreciation | 2,043 |
1330 Bayville, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,842 |
Land initial cost | 1,193 |
Building and improvements initial cost | 5,312 |
Adjustments and costs subsequent to acquisition | 340 |
Gross carrying amount | ' |
Land | 1,193 |
Building and improvements | 5,652 |
Total | 6,845 |
Accumulated depreciation | 1,424 |
1408 Bellmawr, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,600 |
Building and improvements initial cost | 4,765 |
Adjustments and costs subsequent to acquisition | 265 |
Gross carrying amount | ' |
Land | 3,675 |
Building and improvements | 4,955 |
Total | 8,630 |
Accumulated depreciation | 617 |
8342 Berkeley Heights, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,598 |
Building and improvements initial cost | 7,553 |
Adjustments and costs subsequent to acquisition | 73 |
Gross carrying amount | ' |
Land | 1,598 |
Building and improvements | 7,626 |
Total | 9,224 |
Accumulated depreciation | 291 |
0818 Cherry Hill, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,323 |
Building and improvements initial cost | 1,549 |
Adjustments and costs subsequent to acquisition | 106 |
Gross carrying amount | ' |
Land | 2,323 |
Building and improvements | 1,655 |
Total | 3,978 |
Accumulated depreciation | 52 |
1519 Cranbury, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,543 |
Building and improvements initial cost | 5,095 |
Adjustments and costs subsequent to acquisition | 181 |
Gross carrying amount | ' |
Land | 3,543 |
Building and improvements | 5,276 |
Total | 8,819 |
Accumulated depreciation | 152 |
1115 Edison, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,519 |
Building and improvements initial cost | 8,547 |
Adjustments and costs subsequent to acquisition | 717 |
Gross carrying amount | ' |
Land | 2,519 |
Building and improvements | 9,264 |
Total | 11,783 |
Accumulated depreciation | 2,973 |
1116 Egg Harbor Twp., NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,197 |
Land initial cost | 1,724 |
Building and improvements initial cost | 5,001 |
Adjustments and costs subsequent to acquisition | 714 |
Gross carrying amount | ' |
Land | 1,724 |
Building and improvements | 5,715 |
Total | 7,439 |
Accumulated depreciation | 1,954 |
1258 Ewing, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,552 |
Building and improvements initial cost | 4,720 |
Adjustments and costs subsequent to acquisition | -83 |
Gross carrying amount | ' |
Land | 1,563 |
Building and improvements | 4,626 |
Total | 6,189 |
Accumulated depreciation | 864 |
8343 Fairfield, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Building and improvements initial cost | 9,402 |
Adjustments and costs subsequent to acquisition | 78 |
Gross carrying amount | ' |
Building and improvements | 9,480 |
Total | 9,480 |
Accumulated depreciation | 359 |
1516 Fort Lee, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 4,402 |
Building and improvements initial cost | 9,831 |
Adjustments and costs subsequent to acquisition | 208 |
Gross carrying amount | ' |
Land | 4,402 |
Building and improvements | 10,039 |
Total | 14,441 |
Accumulated depreciation | 286 |
1038 Glen Rock, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,109 |
Building and improvements initial cost | 2,401 |
Adjustments and costs subsequent to acquisition | 551 |
Gross carrying amount | ' |
Land | 1,222 |
Building and improvements | 2,839 |
Total | 4,061 |
Accumulated depreciation | 880 |
0330 Hackensack, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,283 |
Building and improvements initial cost | 11,234 |
Adjustments and costs subsequent to acquisition | 839 |
Gross carrying amount | ' |
Land | 2,283 |
Building and improvements | 12,073 |
Total | 14,356 |
Accumulated depreciation | 2,947 |
8346 Hackettstown, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,144 |
Building and improvements initial cost | 6,660 |
Adjustments and costs subsequent to acquisition | 39 |
Gross carrying amount | ' |
Land | 2,144 |
Building and improvements | 6,699 |
Total | 8,843 |
Accumulated depreciation | 238 |
0332 Harrison, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,654 |
Land initial cost | 300 |
Building and improvements initial cost | 6,003 |
Adjustments and costs subsequent to acquisition | 168 |
Gross carrying amount | ' |
Land | 300 |
Building and improvements | 6,171 |
Total | 6,471 |
Accumulated depreciation | 233 |
1117 Hazlet, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 7,813 |
Land initial cost | 1,362 |
Building and improvements initial cost | 10,262 |
Adjustments and costs subsequent to acquisition | 598 |
Gross carrying amount | ' |
Land | 1,362 |
Building and improvements | 10,860 |
Total | 12,222 |
Accumulated depreciation | 3,470 |
1039 Hoboken, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 7,981 |
Land initial cost | 2,687 |
Building and improvements initial cost | 6,092 |
Adjustments and costs subsequent to acquisition | 254 |
Gross carrying amount | ' |
Land | 2,687 |
Building and improvements | 6,346 |
Total | 9,033 |
Accumulated depreciation | 1,940 |
1118 Howell, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,361 |
Land initial cost | 2,440 |
Building and improvements initial cost | 3,407 |
Adjustments and costs subsequent to acquisition | 423 |
Gross carrying amount | ' |
Land | 2,440 |
Building and improvements | 3,830 |
Total | 6,270 |
Accumulated depreciation | 1,308 |
1120 Iselin, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,832 |
Land initial cost | 505 |
Building and improvements initial cost | 4,524 |
Adjustments and costs subsequent to acquisition | 532 |
Gross carrying amount | ' |
Land | 505 |
Building and improvements | 5,056 |
Total | 5,561 |
Accumulated depreciation | 1,728 |
0821 Lawnside, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,249 |
Building and improvements initial cost | 5,613 |
Adjustments and costs subsequent to acquisition | 110 |
Gross carrying amount | ' |
Land | 1,249 |
Building and improvements | 5,723 |
Total | 6,972 |
Accumulated depreciation | 169 |
1196 Lawrenceville, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,575 |
Land initial cost | 3,402 |
Building and improvements initial cost | 10,230 |
Adjustments and costs subsequent to acquisition | 494 |
Gross carrying amount | ' |
Land | 3,402 |
Building and improvements | 10,724 |
Total | 14,126 |
Accumulated depreciation | 2,866 |
0739 Linden, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,786 |
Land initial cost | 1,517 |
Building and improvements initial cost | 8,384 |
Adjustments and costs subsequent to acquisition | 248 |
Gross carrying amount | ' |
Land | 1,517 |
Building and improvements | 8,632 |
Total | 10,149 |
Accumulated depreciation | 1,957 |
1328 Lumberton, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,198 |
Land initial cost | 831 |
Building and improvements initial cost | 4,060 |
Adjustments and costs subsequent to acquisition | 222 |
Gross carrying amount | ' |
Land | 831 |
Building and improvements | 4,282 |
Total | 5,113 |
Accumulated depreciation | 1,136 |
1040 Lyndhurst, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,679 |
Building and improvements initial cost | 4,644 |
Adjustments and costs subsequent to acquisition | 1,014 |
Gross carrying amount | ' |
Land | 2,929 |
Building and improvements | 5,408 |
Total | 8,337 |
Accumulated depreciation | 1,650 |
8347 Mahwah, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,890 |
Building and improvements initial cost | 13,112 |
Adjustments and costs subsequent to acquisition | 200 |
Gross carrying amount | ' |
Land | 1,890 |
Building and improvements | 13,312 |
Total | 15,202 |
Accumulated depreciation | 475 |
8093 Maple Shade, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,276 |
Land initial cost | 1,093 |
Building and improvements initial cost | 5,492 |
Adjustments and costs subsequent to acquisition | 85 |
Gross carrying amount | ' |
Land | 1,093 |
Building and improvements | 5,577 |
Total | 6,670 |
Accumulated depreciation | 306 |
0784 Merchantville, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,757 |
Land initial cost | 1,644 |
Building and improvements initial cost | 3,115 |
Adjustments and costs subsequent to acquisition | 200 |
Gross carrying amount | ' |
Land | 1,644 |
Building and improvements | 3,315 |
Total | 4,959 |
Accumulated depreciation | 254 |
1054 Metuchen, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,830 |
Land initial cost | 1,153 |
Building and improvements initial cost | 4,462 |
Adjustments and costs subsequent to acquisition | 276 |
Gross carrying amount | ' |
Land | 1,153 |
Building and improvements | 4,738 |
Total | 5,891 |
Accumulated depreciation | 1,515 |
1428 Monmouth Junction, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,052 |
Land initial cost | 1,700 |
Building and improvements initial cost | 5,835 |
Adjustments and costs subsequent to acquisition | 122 |
Gross carrying amount | ' |
Land | 1,700 |
Building and improvements | 5,957 |
Total | 7,657 |
Accumulated depreciation | 609 |
8348 Montville, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 8,209 |
Land initial cost | 1,511 |
Building and improvements initial cost | 11,749 |
Adjustments and costs subsequent to acquisition | 44 |
Gross carrying amount | ' |
Land | 1,511 |
Building and improvements | 11,793 |
Total | 13,304 |
Accumulated depreciation | 418 |
1197 Morrisville, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,487 |
Building and improvements initial cost | 7,494 |
Adjustments and costs subsequent to acquisition | 1,214 |
Gross carrying amount | ' |
Land | 2,487 |
Building and improvements | 8,708 |
Total | 11,195 |
Accumulated depreciation | 2,352 |
0381 Mt Laurel, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,099 |
Land initial cost | 329 |
Building and improvements initial cost | 5,217 |
Adjustments and costs subsequent to acquisition | 72 |
Gross carrying amount | ' |
Land | 329 |
Building and improvements | 5,289 |
Total | 5,618 |
Accumulated depreciation | 206 |
1360 Neptune, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 7,445 |
Land initial cost | 4,204 |
Building and improvements initial cost | 8,906 |
Adjustments and costs subsequent to acquisition | 316 |
Gross carrying amount | ' |
Land | 4,204 |
Building and improvements | 9,222 |
Total | 13,426 |
Accumulated depreciation | 1,763 |
8344 Newark, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 806 |
Building and improvements initial cost | 8,340 |
Adjustments and costs subsequent to acquisition | 91 |
Gross carrying amount | ' |
Land | 806 |
Building and improvements | 8,431 |
Total | 9,237 |
Accumulated depreciation | 320 |
0677 North Bergen, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 861 |
Building and improvements initial cost | 17,127 |
Adjustments and costs subsequent to acquisition | 133 |
Gross carrying amount | ' |
Land | 861 |
Building and improvements | 17,260 |
Total | 18,121 |
Accumulated depreciation | 983 |
0809 North Bergen, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 10,318 |
Land initial cost | 2,299 |
Building and improvements initial cost | 12,728 |
Adjustments and costs subsequent to acquisition | 432 |
Gross carrying amount | ' |
Land | 2,299 |
Building and improvements | 13,160 |
Total | 15,459 |
Accumulated depreciation | 2,997 |
1089 North Bergen, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 9,411 |
Land initial cost | 2,100 |
Building and improvements initial cost | 6,606 |
Adjustments and costs subsequent to acquisition | 355 |
Gross carrying amount | ' |
Land | 2,100 |
Building and improvements | 6,961 |
Total | 9,061 |
Accumulated depreciation | 2,032 |
8345 North Brunswick, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,789 |
Building and improvements initial cost | 4,404 |
Adjustments and costs subsequent to acquisition | 95 |
Gross carrying amount | ' |
Land | 2,789 |
Building and improvements | 4,499 |
Total | 7,288 |
Accumulated depreciation | 177 |
1119 Old Bridge, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,685 |
Land initial cost | 2,758 |
Building and improvements initial cost | 6,450 |
Adjustments and costs subsequent to acquisition | 990 |
Gross carrying amount | ' |
Land | 2,758 |
Building and improvements | 7,440 |
Total | 10,198 |
Accumulated depreciation | 2,455 |
0810 Parlin, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,517 |
Building and improvements initial cost | 4,516 |
Adjustments and costs subsequent to acquisition | 480 |
Gross carrying amount | ' |
Land | 2,517 |
Building and improvements | 4,996 |
Total | 7,513 |
Accumulated depreciation | 1,390 |
1032 Parlin, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Building and improvements initial cost | 5,273 |
Adjustments and costs subsequent to acquisition | 398 |
Gross carrying amount | ' |
Building and improvements | 5,671 |
Total | 5,671 |
Accumulated depreciation | 2,105 |
8341 Parsippany, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,353 |
Building and improvements initial cost | 7,798 |
Adjustments and costs subsequent to acquisition | 103 |
Gross carrying amount | ' |
Land | 2,353 |
Building and improvements | 7,901 |
Total | 10,254 |
Accumulated depreciation | 306 |
0655 Toms River, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,992 |
Land initial cost | 1,790 |
Building and improvements initial cost | 9,935 |
Adjustments and costs subsequent to acquisition | 341 |
Gross carrying amount | ' |
Land | 1,790 |
Building and improvements | 10,276 |
Total | 12,066 |
Accumulated depreciation | 2,480 |
1331 Union, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,605 |
Land initial cost | 1,754 |
Building and improvements initial cost | 6,237 |
Adjustments and costs subsequent to acquisition | 372 |
Gross carrying amount | ' |
Land | 1,754 |
Building and improvements | 6,609 |
Total | 8,363 |
Accumulated depreciation | 1,682 |
1517 Union, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,133 |
Building and improvements initial cost | 7,239 |
Adjustments and costs subsequent to acquisition | 74 |
Gross carrying amount | ' |
Land | 1,133 |
Building and improvements | 7,313 |
Total | 8,446 |
Accumulated depreciation | 211 |
1518 Watchung, NJ | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,843 |
Building and improvements initial cost | 4,499 |
Adjustments and costs subsequent to acquisition | 113 |
Gross carrying amount | ' |
Land | 1,843 |
Building and improvements | 4,612 |
Total | 6,455 |
Accumulated depreciation | 133 |
0547 Albuquerque, NM | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,775 |
Land initial cost | 1,298 |
Building and improvements initial cost | 4,628 |
Adjustments and costs subsequent to acquisition | 625 |
Gross carrying amount | ' |
Land | 1,298 |
Building and improvements | 5,253 |
Total | 6,551 |
Accumulated depreciation | 999 |
0817 Albuquerque, NM | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,949 |
Land initial cost | 755 |
Building and improvements initial cost | 1,797 |
Adjustments and costs subsequent to acquisition | 27 |
Gross carrying amount | ' |
Land | 755 |
Building and improvements | 1,824 |
Total | 2,579 |
Accumulated depreciation | 54 |
0485 Santa Fe, NM | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,905 |
Land initial cost | 3,066 |
Building and improvements initial cost | 7,366 |
Adjustments and costs subsequent to acquisition | 302 |
Gross carrying amount | ' |
Land | 3,066 |
Building and improvements | 7,668 |
Total | 10,734 |
Accumulated depreciation | 292 |
0830 Henderson, NV | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,934 |
Building and improvements initial cost | 8,897 |
Adjustments and costs subsequent to acquisition | 80 |
Gross carrying amount | ' |
Land | 2,934 |
Building and improvements | 8,977 |
Total | 11,911 |
Accumulated depreciation | 260 |
0816 Las Vegas, NV | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 400 |
Building and improvements initial cost | 4,936 |
Adjustments and costs subsequent to acquisition | 49 |
Gross carrying amount | ' |
Land | 400 |
Building and improvements | 4,985 |
Total | 5,385 |
Accumulated depreciation | 147 |
0820 Las Vegas, NV | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,512 |
Land initial cost | 773 |
Building and improvements initial cost | 6,006 |
Adjustments and costs subsequent to acquisition | 67 |
Gross carrying amount | ' |
Land | 773 |
Building and improvements | 6,073 |
Total | 6,846 |
Accumulated depreciation | 179 |
1058 Las Vegas, NV | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,194 |
Land initial cost | 251 |
Building and improvements initial cost | 717 |
Adjustments and costs subsequent to acquisition | 517 |
Gross carrying amount | ' |
Land | 278 |
Building and improvements | 1,207 |
Total | 1,485 |
Accumulated depreciation | 520 |
1465 Las Vegas, NV | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,462 |
Land initial cost | 1,441 |
Building and improvements initial cost | 1,810 |
Adjustments and costs subsequent to acquisition | 105 |
Gross carrying amount | ' |
Land | 1,441 |
Building and improvements | 1,915 |
Total | 3,356 |
Accumulated depreciation | 141 |
0850 Las Vegas, NV | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,717 |
Land initial cost | 628 |
Building and improvements initial cost | 4,005 |
Adjustments and costs subsequent to acquisition | -453 |
Gross carrying amount | ' |
Land | 279 |
Building and improvements | 3,901 |
Total | 4,180 |
Accumulated depreciation | 429 |
0409 Amsterdam, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 715 |
Building and improvements initial cost | 241 |
Adjustments and costs subsequent to acquisition | -956 |
1391 Bohemia, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,470 |
Land initial cost | 1,456 |
Building and improvements initial cost | 1,398 |
Adjustments and costs subsequent to acquisition | 351 |
Gross carrying amount | ' |
Land | 1,456 |
Building and improvements | 1,749 |
Total | 3,205 |
Accumulated depreciation | 330 |
1042 Bronx, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 18,369 |
Land initial cost | 3,450 |
Building and improvements initial cost | 21,210 |
Adjustments and costs subsequent to acquisition | 347 |
Gross carrying amount | ' |
Land | 3,450 |
Building and improvements | 21,557 |
Total | 25,007 |
Accumulated depreciation | 1,142 |
1213 Bronx, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 9,548 |
Land initial cost | 3,995 |
Building and improvements initial cost | 11,870 |
Adjustments and costs subsequent to acquisition | 781 |
Gross carrying amount | ' |
Land | 3,995 |
Building and improvements | 12,651 |
Total | 16,646 |
Accumulated depreciation | 3,234 |
0727 Brooklyn, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 16,188 |
Building and improvements initial cost | 23,309 |
Adjustments and costs subsequent to acquisition | 297 |
Gross carrying amount | ' |
Land | 16,257 |
Building and improvements | 23,537 |
Total | 39,794 |
Accumulated depreciation | 892 |
1399 Brooklyn, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 20,074 |
Land initial cost | 12,993 |
Building and improvements initial cost | 10,405 |
Adjustments and costs subsequent to acquisition | 306 |
Gross carrying amount | ' |
Land | 12,993 |
Building and improvements | 10,711 |
Total | 23,704 |
Accumulated depreciation | 1,492 |
1450 Brooklyn, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 8,160 |
Land initial cost | 2,802 |
Building and improvements initial cost | 6,536 |
Adjustments and costs subsequent to acquisition | 204 |
Gross carrying amount | ' |
Land | 2,802 |
Building and improvements | 6,740 |
Total | 9,542 |
Accumulated depreciation | 660 |
1398 Centereach, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,191 |
Land initial cost | 2,226 |
Building and improvements initial cost | 1,657 |
Adjustments and costs subsequent to acquisition | 192 |
Gross carrying amount | ' |
Land | 2,226 |
Building and improvements | 1,849 |
Total | 4,075 |
Accumulated depreciation | 286 |
8349 Central Valley, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,800 |
Building and improvements initial cost | 12,173 |
Adjustments and costs subsequent to acquisition | 380 |
Gross carrying amount | ' |
Land | 2,800 |
Building and improvements | 12,553 |
Total | 15,353 |
Accumulated depreciation | 446 |
1451 Freeport, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,253 |
Land initial cost | 5,676 |
Building and improvements initial cost | 3,784 |
Adjustments and costs subsequent to acquisition | 745 |
Gross carrying amount | ' |
Land | 5,676 |
Building and improvements | 4,529 |
Total | 10,205 |
Accumulated depreciation | 421 |
0674 Hauppauge, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,676 |
Land initial cost | 1,238 |
Building and improvements initial cost | 7,095 |
Adjustments and costs subsequent to acquisition | 336 |
Gross carrying amount | ' |
Land | 1,238 |
Building and improvements | 7,431 |
Total | 8,669 |
Accumulated depreciation | 284 |
0630 Hicksville, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 8,939 |
Land initial cost | 2,581 |
Building and improvements initial cost | 10,677 |
Adjustments and costs subsequent to acquisition | 29 |
Gross carrying amount | ' |
Land | 2,581 |
Building and improvements | 10,706 |
Total | 13,287 |
Accumulated depreciation | 402 |
0405 Kingston, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,959 |
Land initial cost | 837 |
Building and improvements initial cost | 6,199 |
Adjustments and costs subsequent to acquisition | 15 |
Gross carrying amount | ' |
Land | 837 |
Building and improvements | 6,214 |
Total | 7,051 |
Accumulated depreciation | 234 |
0502 Mount Vernon, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,585 |
Building and improvements initial cost | 6,025 |
Adjustments and costs subsequent to acquisition | 2,389 |
Gross carrying amount | ' |
Land | 1,585 |
Building and improvements | 8,414 |
Total | 9,999 |
Accumulated depreciation | 1,898 |
1087 Mount Vernon, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 8,401 |
Land initial cost | 1,926 |
Building and improvements initial cost | 7,622 |
Adjustments and costs subsequent to acquisition | 783 |
Gross carrying amount | ' |
Land | 1,926 |
Building and improvements | 8,405 |
Total | 10,331 |
Accumulated depreciation | 2,474 |
1055 Nanuet, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,688 |
Land initial cost | 2,072 |
Building and improvements initial cost | 4,644 |
Adjustments and costs subsequent to acquisition | 1,724 |
Gross carrying amount | ' |
Land | 2,739 |
Building and improvements | 5,701 |
Total | 8,440 |
Accumulated depreciation | 1,767 |
0406 New Paltz, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,564 |
Land initial cost | 2,059 |
Building and improvements initial cost | 3,715 |
Adjustments and costs subsequent to acquisition | 410 |
Gross carrying amount | ' |
Land | 2,059 |
Building and improvements | 4,125 |
Total | 6,184 |
Accumulated depreciation | 1,096 |
0539 New York, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 19,326 |
Land initial cost | 3,060 |
Building and improvements initial cost | 16,978 |
Adjustments and costs subsequent to acquisition | 696 |
Gross carrying amount | ' |
Land | 3,060 |
Building and improvements | 17,674 |
Total | 20,734 |
Accumulated depreciation | 4,095 |
1050 Plainview, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 7,692 |
Land initial cost | 4,287 |
Building and improvements initial cost | 3,710 |
Adjustments and costs subsequent to acquisition | 661 |
Gross carrying amount | ' |
Land | 4,287 |
Building and improvements | 4,371 |
Total | 8,658 |
Accumulated depreciation | 1,599 |
8350 Poughkeepsie, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,038 |
Building and improvements initial cost | 7,862 |
Adjustments and costs subsequent to acquisition | 71 |
Gross carrying amount | ' |
Land | 1,038 |
Building and improvements | 7,933 |
Total | 8,971 |
Accumulated depreciation | 303 |
0470 Ridge, NY | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,264 |
Land initial cost | 1,762 |
Building and improvements initial cost | 6,934 |
Adjustments and costs subsequent to acquisition | 16 |
Gross carrying amount | ' |
Land | 1,762 |
Building and improvements | 6,950 |
Total | 8,712 |
Accumulated depreciation | 261 |
1501 Cincinnati, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,941 |
Building and improvements initial cost | 2,177 |
Adjustments and costs subsequent to acquisition | 195 |
Gross carrying amount | ' |
Land | 2,941 |
Building and improvements | 2,372 |
Total | 5,313 |
Accumulated depreciation | 195 |
1502 Cincinnati, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,638 |
Land initial cost | 1,815 |
Building and improvements initial cost | 5,733 |
Adjustments and costs subsequent to acquisition | 219 |
Gross carrying amount | ' |
Land | 1,815 |
Building and improvements | 5,952 |
Total | 7,767 |
Accumulated depreciation | 435 |
1503 Cincinnati, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,445 |
Building and improvements initial cost | 3,755 |
Adjustments and costs subsequent to acquisition | 185 |
Gross carrying amount | ' |
Land | 1,445 |
Building and improvements | 3,940 |
Total | 5,385 |
Accumulated depreciation | 292 |
1504 Cincinnati, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,217 |
Building and improvements initial cost | 1,941 |
Adjustments and costs subsequent to acquisition | 109 |
Gross carrying amount | ' |
Land | 1,217 |
Building and improvements | 2,050 |
Total | 3,267 |
Accumulated depreciation | 151 |
0438 Columbus, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,764 |
Land initial cost | 483 |
Building and improvements initial cost | 2,654 |
Adjustments and costs subsequent to acquisition | 568 |
Gross carrying amount | ' |
Land | 483 |
Building and improvements | 3,222 |
Total | 3,705 |
Accumulated depreciation | 940 |
0522 Columbus, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,430 |
Land initial cost | 657 |
Building and improvements initial cost | 2,025 |
Adjustments and costs subsequent to acquisition | 13 |
Gross carrying amount | ' |
Land | 727 |
Building and improvements | 1,968 |
Total | 2,695 |
Accumulated depreciation | 163 |
0525 Columbus, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,622 |
Land initial cost | 924 |
Building and improvements initial cost | 5,113 |
Adjustments and costs subsequent to acquisition | 247 |
Gross carrying amount | ' |
Land | 1,227 |
Building and improvements | 5,057 |
Total | 6,284 |
Accumulated depreciation | 495 |
1548 Fairfield, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 904 |
Building and improvements initial cost | 3,856 |
Adjustments and costs subsequent to acquisition | 7 |
Gross carrying amount | ' |
Land | 904 |
Building and improvements | 3,863 |
Total | 4,767 |
Accumulated depreciation | 12 |
1511 Greenville, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 189 |
Building and improvements initial cost | 302 |
Adjustments and costs subsequent to acquisition | 72 |
Gross carrying amount | ' |
Land | 189 |
Building and improvements | 374 |
Total | 563 |
Accumulated depreciation | 32 |
1505 Hamilton, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 673 |
Building and improvements initial cost | 2,910 |
Adjustments and costs subsequent to acquisition | 96 |
Gross carrying amount | ' |
Land | 673 |
Building and improvements | 3,006 |
Total | 3,679 |
Accumulated depreciation | 211 |
0829 Hilliard, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,110 |
Land initial cost | 1,613 |
Building and improvements initial cost | 2,369 |
Adjustments and costs subsequent to acquisition | 208 |
Gross carrying amount | ' |
Land | 1,613 |
Building and improvements | 2,577 |
Total | 4,190 |
Accumulated depreciation | 82 |
0365 Kent, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,430 |
Land initial cost | 220 |
Building and improvements initial cost | 1,206 |
Adjustments and costs subsequent to acquisition | 222 |
Gross carrying amount | ' |
Land | 220 |
Building and improvements | 1,428 |
Total | 1,648 |
Accumulated depreciation | 424 |
1506 Lebanon, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,657 |
Building and improvements initial cost | 1,566 |
Adjustments and costs subsequent to acquisition | 301 |
Gross carrying amount | ' |
Land | 1,657 |
Building and improvements | 1,867 |
Total | 3,524 |
Accumulated depreciation | 137 |
0368 Mentor, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,343 |
Land initial cost | 409 |
Building and improvements initial cost | 1,609 |
Adjustments and costs subsequent to acquisition | 97 |
Gross carrying amount | ' |
Land | 409 |
Building and improvements | 1,706 |
Total | 2,115 |
Accumulated depreciation | 71 |
0826 Mentor, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,280 |
Land initial cost | 658 |
Building and improvements initial cost | 1,267 |
Adjustments and costs subsequent to acquisition | 174 |
Gross carrying amount | ' |
Land | 658 |
Building and improvements | 1,441 |
Total | 2,099 |
Accumulated depreciation | 44 |
1507 Middletown, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,310 |
Land initial cost | 534 |
Building and improvements initial cost | 1,047 |
Adjustments and costs subsequent to acquisition | 93 |
Gross carrying amount | ' |
Land | 534 |
Building and improvements | 1,140 |
Total | 1,674 |
Accumulated depreciation | 88 |
1509 Sidney, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 201 |
Building and improvements initial cost | 262 |
Adjustments and costs subsequent to acquisition | 63 |
Gross carrying amount | ' |
Land | 201 |
Building and improvements | 325 |
Total | 526 |
Accumulated depreciation | 33 |
1510 Troy, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 273 |
Building and improvements initial cost | 544 |
Adjustments and costs subsequent to acquisition | 115 |
Gross carrying amount | ' |
Land | 273 |
Building and improvements | 659 |
Total | 932 |
Accumulated depreciation | 57 |
1512 Washington Court House, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 197 |
Building and improvements initial cost | 499 |
Adjustments and costs subsequent to acquisition | 61 |
Gross carrying amount | ' |
Land | 197 |
Building and improvements | 560 |
Total | 757 |
Accumulated depreciation | 47 |
0367 Willoughby, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,108 |
Land initial cost | 155 |
Building and improvements initial cost | 1,811 |
Adjustments and costs subsequent to acquisition | 34 |
Gross carrying amount | ' |
Land | 155 |
Building and improvements | 1,845 |
Total | 2,000 |
Accumulated depreciation | 69 |
1508 Xenia, OH | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,655 |
Land initial cost | 302 |
Building and improvements initial cost | 1,022 |
Adjustments and costs subsequent to acquisition | 60 |
Gross carrying amount | ' |
Land | 302 |
Building and improvements | 1,082 |
Total | 1,384 |
Accumulated depreciation | 84 |
0288 Aloha, OR | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,207 |
Land initial cost | 1,221 |
Building and improvements initial cost | 6,262 |
Adjustments and costs subsequent to acquisition | 265 |
Gross carrying amount | ' |
Land | 1,221 |
Building and improvements | 6,527 |
Total | 7,748 |
Accumulated depreciation | 1,561 |
0286 Beaverton, OR | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,730 |
Land initial cost | 2,014 |
Building and improvements initial cost | 5,786 |
Adjustments and costs subsequent to acquisition | 46 |
Gross carrying amount | ' |
Land | 2,014 |
Building and improvements | 5,832 |
Total | 7,846 |
Accumulated depreciation | 223 |
1294 King City, OR | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,081 |
Land initial cost | 2,520 |
Building and improvements initial cost | 6,845 |
Adjustments and costs subsequent to acquisition | 45 |
Gross carrying amount | ' |
Land | 2,520 |
Building and improvements | 6,890 |
Total | 9,410 |
Accumulated depreciation | 720 |
1332 Bensalem, PA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,329 |
Land initial cost | 1,131 |
Building and improvements initial cost | 4,525 |
Adjustments and costs subsequent to acquisition | 288 |
Gross carrying amount | ' |
Land | 1,131 |
Building and improvements | 4,813 |
Total | 5,944 |
Accumulated depreciation | 1,237 |
1354 Bensalem, PA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 750 |
Building and improvements initial cost | 3,015 |
Adjustments and costs subsequent to acquisition | 180 |
Gross carrying amount | ' |
Land | 750 |
Building and improvements | 3,195 |
Total | 3,945 |
Accumulated depreciation | 708 |
1036 Doylestown, PA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 220 |
Building and improvements initial cost | 3,442 |
Adjustments and costs subsequent to acquisition | 1,055 |
Gross carrying amount | ' |
Land | 521 |
Building and improvements | 4,196 |
Total | 4,717 |
Accumulated depreciation | 1,325 |
1046 Kennedy Township, PA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,591 |
Land initial cost | 736 |
Building and improvements initial cost | 3,173 |
Adjustments and costs subsequent to acquisition | 188 |
Gross carrying amount | ' |
Land | 736 |
Building and improvements | 3,361 |
Total | 4,097 |
Accumulated depreciation | 1,234 |
1198 Philadelphia, PA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,646 |
Land initial cost | 1,965 |
Building and improvements initial cost | 5,925 |
Adjustments and costs subsequent to acquisition | 1,083 |
Gross carrying amount | ' |
Land | 1,965 |
Building and improvements | 7,008 |
Total | 8,973 |
Accumulated depreciation | 1,928 |
0542 Philadelphia, PA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 8,578 |
Land initial cost | 3,000 |
Building and improvements initial cost | 7,909 |
Adjustments and costs subsequent to acquisition | 59 |
Gross carrying amount | ' |
Land | 596 |
Building and improvements | 10,372 |
Total | 10,968 |
Accumulated depreciation | 543 |
1045 Pittsburgh, PA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,822 |
Land initial cost | 889 |
Building and improvements initial cost | 4,117 |
Adjustments and costs subsequent to acquisition | 559 |
Gross carrying amount | ' |
Land | 889 |
Building and improvements | 4,676 |
Total | 5,565 |
Accumulated depreciation | 1,675 |
1063 Pittsburgh, PA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,591 |
Land initial cost | 991 |
Building and improvements initial cost | 1,990 |
Adjustments and costs subsequent to acquisition | 885 |
Gross carrying amount | ' |
Land | 1,082 |
Building and improvements | 2,784 |
Total | 3,866 |
Accumulated depreciation | 954 |
1048 Willow Grove, PA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,182 |
Land initial cost | 1,297 |
Building and improvements initial cost | 4,027 |
Adjustments and costs subsequent to acquisition | 212 |
Gross carrying amount | ' |
Land | 1,297 |
Building and improvements | 4,239 |
Total | 5,536 |
Accumulated depreciation | 361 |
0741 Johnston, RI | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,767 |
Land initial cost | 2,658 |
Building and improvements initial cost | 4,799 |
Adjustments and costs subsequent to acquisition | 462 |
Gross carrying amount | ' |
Land | 2,658 |
Building and improvements | 5,261 |
Total | 7,919 |
Accumulated depreciation | 1,339 |
1150 Johnston, RI | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,932 |
Land initial cost | 533 |
Building and improvements initial cost | 2,127 |
Adjustments and costs subsequent to acquisition | 47 |
Gross carrying amount | ' |
Land | 533 |
Building and improvements | 2,174 |
Total | 2,707 |
Accumulated depreciation | 118 |
1303 Charleston, SC | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,521 |
Land initial cost | 1,279 |
Building and improvements initial cost | 4,171 |
Adjustments and costs subsequent to acquisition | 213 |
Gross carrying amount | ' |
Land | 1,279 |
Building and improvements | 4,384 |
Total | 5,663 |
Accumulated depreciation | 1,109 |
1305 Columbia, SC | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,821 |
Land initial cost | 838 |
Building and improvements initial cost | 3,312 |
Adjustments and costs subsequent to acquisition | 251 |
Gross carrying amount | ' |
Land | 838 |
Building and improvements | 3,563 |
Total | 4,401 |
Accumulated depreciation | 944 |
8174 Columbia, SC | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,310 |
Land initial cost | 1,784 |
Building and improvements initial cost | 2,745 |
Adjustments and costs subsequent to acquisition | 59 |
Gross carrying amount | ' |
Land | 1,784 |
Building and improvements | 2,804 |
Total | 4,588 |
Accumulated depreciation | 105 |
1311 Goose Creek, SC | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,683 |
Building and improvements initial cost | 4,372 |
Adjustments and costs subsequent to acquisition | 1,020 |
Gross carrying amount | ' |
Land | 1,683 |
Building and improvements | 5,392 |
Total | 7,075 |
Accumulated depreciation | 1,274 |
1323 Summerville, SC | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 450 |
Building and improvements initial cost | 4,454 |
Adjustments and costs subsequent to acquisition | 179 |
Gross carrying amount | ' |
Land | 450 |
Building and improvements | 4,633 |
Total | 5,083 |
Accumulated depreciation | 1,178 |
0578 Bartlett, TN | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,512 |
Land initial cost | 632 |
Building and improvements initial cost | 3,798 |
Adjustments and costs subsequent to acquisition | 35 |
Gross carrying amount | ' |
Land | 632 |
Building and improvements | 3,833 |
Total | 4,465 |
Accumulated depreciation | 144 |
0487 Cordova, TN | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,573 |
Land initial cost | 852 |
Building and improvements initial cost | 2,720 |
Adjustments and costs subsequent to acquisition | 258 |
Gross carrying amount | ' |
Land | 852 |
Building and improvements | 2,978 |
Total | 3,830 |
Accumulated depreciation | 786 |
0506 Cordova, TN | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,576 |
Land initial cost | 2,627 |
Building and improvements initial cost | 9,786 |
Adjustments and costs subsequent to acquisition | 432 |
Gross carrying amount | ' |
Land | 8,187 |
Building and improvements | 4,658 |
Total | 12,845 |
Accumulated depreciation | 788 |
0704 Cordova, TN | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 894 |
Building and improvements initial cost | 2,680 |
Adjustments and costs subsequent to acquisition | 151 |
Gross carrying amount | ' |
Land | 894 |
Building and improvements | 2,831 |
Total | 3,725 |
Accumulated depreciation | 555 |
8122 Cordova, TN | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,057 |
Land initial cost | 652 |
Building and improvements initial cost | 1,791 |
Adjustments and costs subsequent to acquisition | 72 |
Gross carrying amount | ' |
Land | 652 |
Building and improvements | 1,863 |
Total | 2,515 |
Accumulated depreciation | 142 |
0823 Franklin, TN | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,357 |
Building and improvements initial cost | 8,984 |
Adjustments and costs subsequent to acquisition | 143 |
Gross carrying amount | ' |
Land | 3,357 |
Building and improvements | 9,127 |
Total | 12,484 |
Accumulated depreciation | 267 |
0198 Memphis, TN | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,002 |
Land initial cost | 1,255 |
Building and improvements initial cost | 2,909 |
Adjustments and costs subsequent to acquisition | 77 |
Gross carrying amount | ' |
Land | 1,313 |
Building and improvements | 2,928 |
Total | 4,241 |
Accumulated depreciation | 255 |
0252 Memphis, TN | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,955 |
Land initial cost | 1,154 |
Building and improvements initial cost | 4,217 |
Adjustments and costs subsequent to acquisition | 119 |
Gross carrying amount | ' |
Land | 803 |
Building and improvements | 4,687 |
Total | 5,490 |
Accumulated depreciation | 313 |
0374 Memphis, TN | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,041 |
Land initial cost | 110 |
Building and improvements initial cost | 1,280 |
Adjustments and costs subsequent to acquisition | 19 |
Gross carrying amount | ' |
Land | 110 |
Building and improvements | 1,299 |
Total | 1,409 |
Accumulated depreciation | 49 |
0680 Memphis, TN | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,713 |
Land initial cost | 274 |
Building and improvements initial cost | 2,623 |
Adjustments and costs subsequent to acquisition | 21 |
Gross carrying amount | ' |
Land | 274 |
Building and improvements | 2,644 |
Total | 2,918 |
Accumulated depreciation | 101 |
0811 Memphis, TN | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,538 |
Land initial cost | 1,040 |
Building and improvements initial cost | 3,867 |
Adjustments and costs subsequent to acquisition | 113 |
Gross carrying amount | ' |
Land | 1,040 |
Building and improvements | 3,980 |
Total | 5,020 |
Accumulated depreciation | 116 |
0813 Memphis, TN | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,629 |
Land initial cost | 1,617 |
Building and improvements initial cost | 2,875 |
Adjustments and costs subsequent to acquisition | 87 |
Gross carrying amount | ' |
Land | 1,617 |
Building and improvements | 2,962 |
Total | 4,579 |
Accumulated depreciation | 85 |
0574 Nashville, TN | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,892 |
Land initial cost | 390 |
Building and improvements initial cost | 2,598 |
Adjustments and costs subsequent to acquisition | 690 |
Gross carrying amount | ' |
Land | 390 |
Building and improvements | 3,288 |
Total | 3,678 |
Accumulated depreciation | 941 |
1363 Allen, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,605 |
Land initial cost | 901 |
Building and improvements initial cost | 5,553 |
Adjustments and costs subsequent to acquisition | 214 |
Gross carrying amount | ' |
Land | 901 |
Building and improvements | 5,767 |
Total | 6,668 |
Accumulated depreciation | 1,127 |
1301 Arlington, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,206 |
Land initial cost | 534 |
Building and improvements initial cost | 2,525 |
Adjustments and costs subsequent to acquisition | 403 |
Gross carrying amount | ' |
Land | 534 |
Building and improvements | 2,928 |
Total | 3,462 |
Accumulated depreciation | 844 |
0472 Austin, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,287 |
Land initial cost | 2,790 |
Building and improvements initial cost | 4,991 |
Adjustments and costs subsequent to acquisition | 134 |
Gross carrying amount | ' |
Land | 3,411 |
Building and improvements | 4,504 |
Total | 7,915 |
Accumulated depreciation | 360 |
1302 Austin, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,169 |
Land initial cost | 870 |
Building and improvements initial cost | 4,455 |
Adjustments and costs subsequent to acquisition | 327 |
Gross carrying amount | ' |
Land | 870 |
Building and improvements | 4,782 |
Total | 5,652 |
Accumulated depreciation | 1,259 |
0476 Dallas, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,194 |
Land initial cost | 5,061 |
Building and improvements initial cost | 8,224 |
Adjustments and costs subsequent to acquisition | 223 |
Gross carrying amount | ' |
Land | 7,143 |
Building and improvements | 6,365 |
Total | 13,508 |
Accumulated depreciation | 644 |
0514 Dallas, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 11,432 |
Land initial cost | 1,980 |
Building and improvements initial cost | 12,501 |
Adjustments and costs subsequent to acquisition | 344 |
Gross carrying amount | ' |
Land | 1,980 |
Building and improvements | 12,845 |
Total | 14,825 |
Accumulated depreciation | 2,642 |
0561 Dallas, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,032 |
Land initial cost | 337 |
Building and improvements initial cost | 2,216 |
Adjustments and costs subsequent to acquisition | 483 |
Gross carrying amount | ' |
Land | 337 |
Building and improvements | 2,699 |
Total | 3,036 |
Accumulated depreciation | 729 |
0629 Dallas, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,306 |
Land initial cost | 921 |
Building and improvements initial cost | 7,656 |
Adjustments and costs subsequent to acquisition | 64 |
Gross carrying amount | ' |
Land | 921 |
Building and improvements | 7,720 |
Total | 8,641 |
Accumulated depreciation | 289 |
1307 Dallas, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 10,770 |
Land initial cost | 4,432 |
Building and improvements initial cost | 6,181 |
Adjustments and costs subsequent to acquisition | 1,115 |
Gross carrying amount | ' |
Land | 4,432 |
Building and improvements | 7,296 |
Total | 11,728 |
Accumulated depreciation | 1,768 |
1497 Dallas, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,926 |
Land initial cost | 2,542 |
Building and improvements initial cost | 3,274 |
Adjustments and costs subsequent to acquisition | 196 |
Gross carrying amount | ' |
Land | 2,542 |
Building and improvements | 3,470 |
Total | 6,012 |
Accumulated depreciation | 131 |
0795 Euless, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,915 |
Land initial cost | 671 |
Building and improvements initial cost | 3,213 |
Adjustments and costs subsequent to acquisition | 624 |
Gross carrying amount | ' |
Land | 671 |
Building and improvements | 3,837 |
Total | 4,508 |
Accumulated depreciation | 331 |
8081 Euless, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,374 |
Building and improvements initial cost | 5,636 |
Adjustments and costs subsequent to acquisition | 61 |
Gross carrying amount | ' |
Land | 1,374 |
Building and improvements | 5,697 |
Total | 7,071 |
Accumulated depreciation | 92 |
1309 Fort Worth, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,775 |
Land initial cost | 631 |
Building and improvements initial cost | 5,794 |
Adjustments and costs subsequent to acquisition | 272 |
Gross carrying amount | ' |
Land | 631 |
Building and improvements | 6,066 |
Total | 6,697 |
Accumulated depreciation | 1,551 |
1551 Fort Worth, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 3,158 |
Building and improvements initial cost | 2,512 |
Adjustments and costs subsequent to acquisition | 5 |
Gross carrying amount | ' |
Land | 3,158 |
Building and improvements | 2,517 |
Total | 5,675 |
Accumulated depreciation | 8 |
1559 Fort Worth, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,033 |
Building and improvements initial cost | 2,495 |
Gross carrying amount | ' |
Land | 2,033 |
Building and improvements | 2,495 |
Total | 4,528 |
Accumulated depreciation | 3 |
1549 Garland, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,424 |
Building and improvements initial cost | 2,209 |
Gross carrying amount | ' |
Land | 1,424 |
Building and improvements | 2,209 |
Total | 3,633 |
Accumulated depreciation | 7 |
1312 Grand Prairie, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,391 |
Land initial cost | 551 |
Building and improvements initial cost | 2,330 |
Adjustments and costs subsequent to acquisition | 310 |
Gross carrying amount | ' |
Land | 551 |
Building and improvements | 2,640 |
Total | 3,191 |
Accumulated depreciation | 697 |
1496 Grand Prairie, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,327 |
Building and improvements initial cost | 1,551 |
Adjustments and costs subsequent to acquisition | 161 |
Gross carrying amount | ' |
Land | 2,327 |
Building and improvements | 1,712 |
Total | 4,039 |
Accumulated depreciation | 65 |
0466 Houston, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,241 |
Land initial cost | 1,828 |
Building and improvements initial cost | 4,196 |
Adjustments and costs subsequent to acquisition | 181 |
Gross carrying amount | ' |
Land | 2,017 |
Building and improvements | 4,188 |
Total | 6,205 |
Accumulated depreciation | 394 |
0584 Houston, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 8,874 |
Land initial cost | 2,596 |
Building and improvements initial cost | 8,735 |
Adjustments and costs subsequent to acquisition | 397 |
Gross carrying amount | ' |
Land | 2,596 |
Building and improvements | 9,132 |
Total | 11,728 |
Accumulated depreciation | 1,874 |
1457 Houston, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 402 |
Building and improvements initial cost | 1,870 |
Adjustments and costs subsequent to acquisition | 181 |
Gross carrying amount | ' |
Land | 402 |
Building and improvements | 2,051 |
Total | 2,453 |
Accumulated depreciation | 182 |
1490 Houston, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 6,001 |
Land initial cost | 1,036 |
Building and improvements initial cost | 8,133 |
Adjustments and costs subsequent to acquisition | 84 |
Gross carrying amount | ' |
Land | 1,036 |
Building and improvements | 8,217 |
Total | 9,253 |
Accumulated depreciation | 405 |
1550 Killeen, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,207 |
Building and improvements initial cost | 1,688 |
Gross carrying amount | ' |
Land | 1,207 |
Building and improvements | 1,688 |
Total | 2,895 |
Accumulated depreciation | 5 |
1456 La Porte, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,608 |
Building and improvements initial cost | 2,351 |
Adjustments and costs subsequent to acquisition | 273 |
Gross carrying amount | ' |
Land | 1,608 |
Building and improvements | 2,624 |
Total | 4,232 |
Accumulated depreciation | 254 |
0473 Plano, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,145 |
Land initial cost | 2,259 |
Building and improvements initial cost | 4,780 |
Adjustments and costs subsequent to acquisition | 70 |
Gross carrying amount | ' |
Land | 2,752 |
Building and improvements | 4,357 |
Total | 7,109 |
Accumulated depreciation | 417 |
1364 Plano, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,271 |
Land initial cost | 1,010 |
Building and improvements initial cost | 6,203 |
Adjustments and costs subsequent to acquisition | 335 |
Gross carrying amount | ' |
Land | 1,010 |
Building and improvements | 6,538 |
Total | 7,548 |
Accumulated depreciation | 1,257 |
1365 Plano, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,580 |
Land initial cost | 614 |
Building and improvements initial cost | 3,775 |
Adjustments and costs subsequent to acquisition | 258 |
Gross carrying amount | ' |
Land | 614 |
Building and improvements | 4,033 |
Total | 4,647 |
Accumulated depreciation | 810 |
1357 Rowlett, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,185 |
Land initial cost | 1,002 |
Building and improvements initial cost | 2,601 |
Adjustments and costs subsequent to acquisition | 342 |
Gross carrying amount | ' |
Land | 1,002 |
Building and improvements | 2,943 |
Total | 3,945 |
Accumulated depreciation | 639 |
1306 San Antonio, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,569 |
Land initial cost | 1,269 |
Building and improvements initial cost | 1,816 |
Adjustments and costs subsequent to acquisition | 603 |
Gross carrying amount | ' |
Land | 1,269 |
Building and improvements | 2,419 |
Total | 3,688 |
Accumulated depreciation | 727 |
1326 San Antonio, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,511 |
Land initial cost | 253 |
Building and improvements initial cost | 1,496 |
Adjustments and costs subsequent to acquisition | 159 |
Gross carrying amount | ' |
Land | 253 |
Building and improvements | 1,655 |
Total | 1,908 |
Accumulated depreciation | 458 |
1387 San Antonio, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,471 |
Building and improvements initial cost | 3,556 |
Adjustments and costs subsequent to acquisition | -194 |
Gross carrying amount | ' |
Land | 2,471 |
Building and improvements | 3,362 |
Total | 5,833 |
Accumulated depreciation | 597 |
0521 South Houston, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,331 |
Land initial cost | 478 |
Building and improvements initial cost | 4,069 |
Adjustments and costs subsequent to acquisition | 772 |
Gross carrying amount | ' |
Land | 478 |
Building and improvements | 4,841 |
Total | 5,319 |
Accumulated depreciation | 1,105 |
0306 Spring, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,310 |
Land initial cost | 506 |
Building and improvements initial cost | 5,096 |
Adjustments and costs subsequent to acquisition | 117 |
Gross carrying amount | ' |
Land | 506 |
Building and improvements | 5,213 |
Total | 5,719 |
Accumulated depreciation | 203 |
8246 Spring, TX | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 1,943 |
Land initial cost | 978 |
Building and improvements initial cost | 1,347 |
Adjustments and costs subsequent to acquisition | 158 |
Gross carrying amount | ' |
Land | 978 |
Building and improvements | 1,505 |
Total | 2,483 |
Accumulated depreciation | 99 |
1006 Kearns, UT | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 642 |
Building and improvements initial cost | 2,607 |
Adjustments and costs subsequent to acquisition | 346 |
Gross carrying amount | ' |
Land | 642 |
Building and improvements | 2,953 |
Total | 3,595 |
Accumulated depreciation | 810 |
1454 Murray, UT | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 571 |
Building and improvements initial cost | 986 |
Adjustments and costs subsequent to acquisition | 2,081 |
Gross carrying amount | ' |
Land | 571 |
Building and improvements | 3,067 |
Total | 3,638 |
Accumulated depreciation | 182 |
0792 Orem, UT | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,099 |
Land initial cost | 841 |
Building and improvements initial cost | 2,335 |
Adjustments and costs subsequent to acquisition | 172 |
Gross carrying amount | ' |
Land | 841 |
Building and improvements | 2,507 |
Total | 3,348 |
Accumulated depreciation | 183 |
8002 Salt Lake City, UT | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,052 |
Land initial cost | 986 |
Building and improvements initial cost | 3,455 |
Adjustments and costs subsequent to acquisition | 162 |
Gross carrying amount | ' |
Land | 986 |
Building and improvements | 3,617 |
Total | 4,603 |
Accumulated depreciation | 314 |
0132 Sandy, UT | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,583 |
Land initial cost | 1,349 |
Building and improvements initial cost | 4,372 |
Adjustments and costs subsequent to acquisition | 450 |
Gross carrying amount | ' |
Land | 1,349 |
Building and improvements | 4,822 |
Total | 6,171 |
Accumulated depreciation | 1,158 |
8149 Sandy, UT | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 2,063 |
Building and improvements initial cost | 5,202 |
Adjustments and costs subsequent to acquisition | 7 |
Gross carrying amount | ' |
Land | 2,063 |
Building and improvements | 5,209 |
Total | 7,272 |
Accumulated depreciation | 173 |
1455 West Jordan, UT | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,123 |
Land initial cost | 735 |
Building and improvements initial cost | 2,146 |
Adjustments and costs subsequent to acquisition | 347 |
Gross carrying amount | ' |
Land | 735 |
Building and improvements | 2,493 |
Total | 3,228 |
Accumulated depreciation | 218 |
0230 West Valley City, UT | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 2,845 |
Land initial cost | 461 |
Building and improvements initial cost | 1,722 |
Adjustments and costs subsequent to acquisition | 163 |
Gross carrying amount | ' |
Land | 461 |
Building and improvements | 1,885 |
Total | 2,346 |
Accumulated depreciation | 482 |
0467 Alexandria, VA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 13,563 |
Land initial cost | 5,029 |
Building and improvements initial cost | 18,943 |
Adjustments and costs subsequent to acquisition | 44 |
Gross carrying amount | ' |
Land | 5,029 |
Building and improvements | 18,987 |
Total | 24,016 |
Accumulated depreciation | 713 |
1380 Alexandria, VA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,698 |
Land initial cost | 1,620 |
Building and improvements initial cost | 13,103 |
Adjustments and costs subsequent to acquisition | 567 |
Gross carrying amount | ' |
Land | 1,623 |
Building and improvements | 13,667 |
Total | 15,290 |
Accumulated depreciation | 2,650 |
1452 Arlington, VA | ' |
Real Estate and Accumulated Depreciation | ' |
Building and improvements initial cost | 4,802 |
Adjustments and costs subsequent to acquisition | 144 |
Gross carrying amount | ' |
Building and improvements | 4,946 |
Total | 4,946 |
Accumulated depreciation | 1,339 |
0707 Burke, VA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,861 |
Land initial cost | 4,520 |
Building and improvements initial cost | 13,916 |
Adjustments and costs subsequent to acquisition | 445 |
Gross carrying amount | ' |
Land | 11,534 |
Building and improvements | 7,347 |
Total | 18,881 |
Accumulated depreciation | 890 |
0717 Dumfries, VA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,264 |
Land initial cost | 932 |
Building and improvements initial cost | 9,349 |
Adjustments and costs subsequent to acquisition | 157 |
Gross carrying amount | ' |
Land | 932 |
Building and improvements | 9,506 |
Total | 10,438 |
Accumulated depreciation | 667 |
0678 Falls Church, VA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 5,909 |
Land initial cost | 1,259 |
Building and improvements initial cost | 6,975 |
Adjustments and costs subsequent to acquisition | 397 |
Gross carrying amount | ' |
Land | 1,259 |
Building and improvements | 7,372 |
Total | 8,631 |
Accumulated depreciation | 1,747 |
0828 Falls Church, VA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 5,703 |
Building and improvements initial cost | 13,307 |
Adjustments and costs subsequent to acquisition | 112 |
Gross carrying amount | ' |
Land | 5,703 |
Building and improvements | 13,419 |
Total | 19,122 |
Accumulated depreciation | 388 |
0327 Fredericksburg, VA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,339 |
Land initial cost | 2,128 |
Building and improvements initial cost | 5,398 |
Adjustments and costs subsequent to acquisition | 47 |
Gross carrying amount | ' |
Land | 2,128 |
Building and improvements | 5,445 |
Total | 7,573 |
Accumulated depreciation | 204 |
0824 Fredericksburg, VA | ' |
Real Estate and Accumulated Depreciation | ' |
Land initial cost | 1,438 |
Building and improvements initial cost | 2,459 |
Adjustments and costs subsequent to acquisition | 115 |
Gross carrying amount | ' |
Land | 1,438 |
Building and improvements | 2,574 |
Total | 4,012 |
Accumulated depreciation | 75 |
1325 Richmond, VA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,582 |
Land initial cost | 2,305 |
Building and improvements initial cost | 5,467 |
Adjustments and costs subsequent to acquisition | 315 |
Gross carrying amount | ' |
Land | 2,305 |
Building and improvements | 5,782 |
Total | 8,087 |
Accumulated depreciation | 1,409 |
0764 Stafford, VA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,437 |
Land initial cost | 2,076 |
Building and improvements initial cost | 5,175 |
Adjustments and costs subsequent to acquisition | 77 |
Gross carrying amount | ' |
Land | 2,076 |
Building and improvements | 5,252 |
Total | 7,328 |
Accumulated depreciation | 688 |
1498 Stafford, VA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,445 |
Land initial cost | 1,172 |
Building and improvements initial cost | 5,562 |
Adjustments and costs subsequent to acquisition | 110 |
Gross carrying amount | ' |
Land | 1,172 |
Building and improvements | 5,672 |
Total | 6,844 |
Accumulated depreciation | 192 |
1341 Lakewood, WA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,474 |
Land initial cost | 1,917 |
Building and improvements initial cost | 5,256 |
Adjustments and costs subsequent to acquisition | 199 |
Gross carrying amount | ' |
Land | 1,917 |
Building and improvements | 5,455 |
Total | 7,372 |
Accumulated depreciation | 1,159 |
1342 Lakewood, WA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 4,471 |
Land initial cost | 1,389 |
Building and improvements initial cost | 4,780 |
Adjustments and costs subsequent to acquisition | 290 |
Gross carrying amount | ' |
Land | 1,389 |
Building and improvements | 5,070 |
Total | 6,459 |
Accumulated depreciation | 1,083 |
0643 Seattle, WA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 7,379 |
Land initial cost | 2,727 |
Building and improvements initial cost | 7,241 |
Adjustments and costs subsequent to acquisition | 224 |
Gross carrying amount | ' |
Land | 2,727 |
Building and improvements | 7,465 |
Total | 10,192 |
Accumulated depreciation | 1,737 |
1343 Tacoma, WA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,502 |
Land initial cost | 1,031 |
Building and improvements initial cost | 3,103 |
Adjustments and costs subsequent to acquisition | 143 |
Gross carrying amount | ' |
Land | 1,031 |
Building and improvements | 3,246 |
Total | 4,277 |
Accumulated depreciation | 721 |
0285 Vancouver, WA | ' |
Real Estate and Accumulated Depreciation | ' |
Debt | 3,132 |
Land initial cost | 709 |
Building and improvements initial cost | 4,280 |
Adjustments and costs subsequent to acquisition | 55 |
Gross carrying amount | ' |
Land | 709 |
Building and improvements | 4,335 |
Total | 5,044 |
Accumulated depreciation | $164 |
Schedule_III_Real_Estate_and_A2
Schedule III Real Estate and Accumulated Depreciation (Details 2) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Activity in real estate | ' | ' | ' |
Balance at end of year | $4,126,648 | $3,379,512 | ' |
Activity in accumulated depreciation | ' | ' | ' |
Balance at end of year | 496,754 | 391,928 | ' |
Net real estate assets | 3,636,544 | 2,991,722 | 2,263,795 |
Aggregate cost of real estate for U.S. federal income tax purposes | 3,679,606 | ' | ' |
Operating facilities | ' | ' | ' |
Activity in real estate | ' | ' | ' |
Balance at beginning of year | 3,379,512 | 2,573,731 | 2,198,361 |
Acquisitions | 711,710 | 761,977 | 301,531 |
Improvements | 37,949 | 34,964 | 39,352 |
Transfers | 3,643 | 8,957 | 34,777 |
Dispositions and other | -6,166 | -117 | -290 |
Balance at end of year | 4,126,648 | 3,379,512 | 2,573,731 |
Activity in accumulated depreciation | ' | ' | ' |
Balance at beginning of year | 391,928 | 319,302 | 263,042 |
Depreciation expense | 104,963 | 72,626 | 56,702 |
Dispositions and other | -137 | ' | -442 |
Balance at end of year | 496,754 | 391,928 | 319,302 |
Real estate under development/redevelopment | ' | ' | ' |
Activity in real estate | ' | ' | ' |
Balance at beginning of year | 4,138 | 9,366 | 37,083 |
Current development | 6,466 | 3,759 | 7,060 |
Transfers | -3,954 | -8,987 | -34,777 |
Balance at end of year | $6,650 | $4,138 | $9,366 |