SmartStop Self Storage REIT (STSFF) 10-Q 13 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 12, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Trading Symbol	ck0001585389
Entity Registrant Name	STRATEGIC STORAGE TRUST II, INC.
Entity Central Index Key	1,585,389
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Small Business	false
Class A Common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		49,733,630
Class T Common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		7,500,273

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Real estate facilities:
Land	$ 271,343,323	$ 272,313,395
Buildings	512,294,410	514,648,107
Site improvements	43,065,688	42,717,975
Real estate investment property, gross	826,703,421	829,679,477
Accumulated depreciation	(49,609,050)	(34,686,973)
Real estate investment property	777,094,371	794,992,504
Construction in process	109,907	92,519
Real estate facilities, net	777,204,278	795,085,023
Cash and cash equivalents	3,739,371	7,355,422
Restricted cash	5,331,656	4,512,990
Other assets, net	11,889,921	5,563,600
Debt issuance costs, net of accumulated amortization	194,957	836,202
Intangible assets, net of accumulated amortization	1,675,543	4,144,601
Total assets	800,035,726	817,497,838
LIABILITIES AND EQUITY
Debt, net	395,909,178	396,792,902
Accounts payable and accrued liabilities	13,047,848	7,451,849
Due to affiliates	2,762,261	2,965,904
Distributions payable	2,801,394	2,852,100
Total liabilities	414,520,681	410,062,755
Commitments and contingencies (Note 8)
Redeemable common stock	29,559,784	24,497,059
Equity:
Preferred stock, $0.001 par value; 200,000,000 shares authorized; none issued and outstanding at September 30, 2018 and December 31, 2017	0	0
Additional paid-in capital	496,325,862	496,287,890
Distributions	(85,669,907)	(60,561,504)
Accumulated deficit	(61,181,459)	(58,641,776)
Accumulated other comprehensive income	2,243,511	1,369,208
Total Strategic Storage Trust II, Inc. equity	351,775,583	378,510,555
Noncontrolling interests in our Operating Partnership	4,179,678	4,427,469
Total equity	355,955,261	382,938,024
Total liabilities and equity	800,035,726	817,497,838
Class A Common stock
Equity:
Common stock, value	50,091	49,386
Class T Common stock
Equity:
Common stock, value	$ 7,485	$ 7,351

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Preferred Stock, par value	$ 0.001	$ 0.001	$ 0.001
Preferred Stock, shares authorized	200,000,000	200,000,000	200,000,000
Preferred Stock, shares issued		0	0
Preferred Stock, shares outstanding		0	0
Class A Common stock
Common Stock, par value	$ 0.001		$ 0.001
Common Stock, shares authorized	350,000,000		350,000,000
Common Stock, shares issued	50,090,692		49,386,092
Common Stock, shares outstanding	50,090,692		49,386,092
Class T Common stock
Common Stock, par value	$ 0.001		$ 0.001
Common Stock, shares authorized	350,000,000		350,000,000
Common Stock, shares issued	7,484,880		7,350,142
Common Stock, shares outstanding	7,484,880		7,350,142

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues:
Self storage rental revenue	$ 19,796,139	$ 19,804,298	$ 58,784,034	$ 56,356,871
Ancillary operating revenue	516,930	135,214	1,441,008	366,963
Total revenues	20,313,069	19,939,512	60,225,042	56,723,834
Operating expenses:
Property operating expenses	6,416,687	6,456,088	18,637,792	18,358,466
Property operating expenses – affiliates	2,571,670	3,307,619	7,687,183	8,145,469
General and administrative	999,439	762,642	3,632,649	2,642,433
Depreciation	5,097,944	5,145,952	15,245,530	14,865,271
Intangible amortization expense	179,613	3,525,476	2,398,378	11,026,239
Acquisition expenses—affiliates	16,422		42,642	212,577
Other property acquisition expenses	554,661		808,091	292,022
Total operating expenses	15,836,436	19,197,777	48,452,265	55,542,477
Operating income	4,476,633	741,735	11,772,777	1,181,357
Other income (expense):
Interest expense	(4,587,573)	(4,310,132)	(13,417,041)	(11,979,432)
Interest expense—accretion of fair market value of secured debt	111,383	113,718	336,894	231,388
Interest expense—debt issuance costs	(330,639)	(329,877)	(975,591)	(1,849,114)
Other	(127,082)	(90,608)	(278,694)	(219,334)
Net loss	(457,278)	(3,875,164)	(2,561,655)	(12,635,135)
Net loss attributable to the noncontrolling interests in our Operating Partnership	5,854	34,389	21,972	100,585
Net loss attributable to Strategic Storage Trust II, Inc. common stockholders	$ (451,424)	$ (3,840,775)	$ (2,539,683)	$ (12,534,550)
Class A Common stock
Other income (expense):
Net loss per share-basic and diluted	$ (0.01)	$ (0.07)	$ (0.04)	$ (0.22)
Weighted average shares outstanding-basic and diluted	49,948,074	48,958,361	49,732,757	48,609,924
Class T Common stock
Other income (expense):
Net loss per share-basic and diluted	$ (0.01)	$ (0.07)	$ (0.04)	$ (0.22)
Weighted average shares outstanding-basic and diluted	7,461,101	7,281,358	7,418,129	7,212,753

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (457,278)	$ (3,875,164)	$ (2,561,655)	$ (12,635,135)
Other comprehensive income (loss):
Foreign currency translation adjustment	1,343,451	3,083,732	(2,061,322)	4,446,136
Foreign currency forward contract gains (losses)	(1,083,267)	(3,087,699)	2,431,232	(4,546,081)
Interest rate swap and cap contract gains (losses)	(5,139)	156,426	504,393	74,362
Other comprehensive income (loss)	255,045	152,459	874,303	(25,583)
Comprehensive loss	(202,233)	(3,722,705)	(1,687,352)	(12,660,718)
Comprehensive loss attributable to noncontrolling interests:
Comprehensive loss attributable to the noncontrolling interests in our Operating Partnership	2,589	33,036	14,473	100,789
Comprehensive loss attributable to Strategic Storage Trust II, Inc. common stockholders	$ (199,644)	$ (3,689,669)	$ (1,672,879)	$ (12,559,929)

Consolidated Statement of Equit

Consolidated Statement of Equity (Unaudited) - 9 months ended Sep. 30, 2018 - USD ($)	Total	Redeemable Common Stock	Common StockClass A Common stock	Common StockClass T Common stock	Additional Paid-in Capital [Member]	Distributions [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income [Member]	Total Strategic Storage Trust II, Inc. Equity [Member]	Noncontrolling Interests in our Operating Partnership [Member]
Beginning Balance at Dec. 31, 2017	$ 382,938,024	$ 24,497,059	$ 49,386	$ 7,351	$ 496,287,890	$ (60,561,504)	$ (58,641,776)	$ 1,369,208	$ 378,510,555	$ 4,427,469
Beginning Balance (in shares) at Dec. 31, 2017			49,386,092	7,350,142
Offering costs	(15,364)	0	$ 0	$ 0	(15,364)	0	0	0	(15,364)	0
Changes to redeemable common stock	(12,041,524)	12,041,524	0	0	(12,041,524)	0	0	0	(12,041,524)	0
Redemptions of common stock	$ (324)	(6,978,799)	$ (305)	$ (19)	0	0	0	0	(324)	0
Redemptions of common stock (in shares)	(700,000)		(304,672)	(18,515)
Issuance of restricted stock	$ 11	0	$ 11	$ 0	0	0	0	0	11	0
Issuance of restricted stock (in shares)			10,500
Distributions	(25,108,403)	0	$ 0	0	0	(25,108,403)	0	0	(25,108,403)	0
Distributions to noncontrolling interests	(225,819)	0	0	0	0	0	0	0	0	(225,819)
Issuance of shares for distribution reinvestment plan	12,042,676	0	$ 999	$ 153	12,041,524	0	0	0	12,042,676	0
Issuance of shares for distribution reinvestment plan (in shares)			998,772	153,253
Stock compensation expense	53,336	0	$ 0	$ 0	53,336	0	0	0	53,336	0
Net loss attributable to Strategic Storage Trust II, Inc.	(2,539,683)	0	0	0	0	0	(2,539,683)	0	(2,539,683)	0
Net loss attributable to the noncontrolling interests in our Operating Partnership	(21,972)	0	0	0	0	0	0	0	0	(21,972)
Foreign currency translation adjustment	(2,061,322)	0	0	0	0	0	0	(2,061,322)	(2,061,322)	0
Foreign currency forward contract gains	2,431,232	0	0	0	0	0	0	2,431,232	2,431,232	0
Interest rate swap and cap contract gains	504,393	0	0	0	0	0	0	504,393	504,393	0
Ending Balance at Sep. 30, 2018	$ 355,955,261	$ 29,559,784	$ 50,091	$ 7,485	$ 496,325,862	$ (85,669,907)	$ (61,181,459)	$ 2,243,511	$ 351,775,583	$ 4,179,678
Ending Balance (in shares) at Sep. 30, 2018			50,090,692	7,484,880

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net loss	$ (2,561,655)	$ (12,635,135)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	17,643,908	25,891,510
Accretion of fair market value adjustment of secured debt	(336,894)	(231,388)
Amortization of debt issuance costs	975,591	1,096,071
Expense related to issuance of restricted stock	53,336	21,347
Unrealized derivative gains	(21,779)	0
Increase (decrease) in cash from changes in assets and liabilities:
Other assets, net	(1,244,202)	(2,563,309)
Accounts payable and accrued liabilities	1,561,727	3,985,234
Due to affiliates	304,265	117,085
Net cash provided by operating activities	16,374,297	15,681,415
Cash flows from investing activities:
Purchase of real estate	0	(49,432,644)
Additions to real estate	(1,112,143)	(2,797,888)
Investment in Joint Venture	(3,174,033)	0
Settlement of foreign currency hedges	2,132,261	(4,072,790)
Net cash used in investing activities	(2,153,915)	(56,303,322)
Cash flows from financing activities:
Gross proceeds from issuance of debt	5,000,000	166,186,951
Pay down of debt	(2,200,000)	(127,671,050)
Scheduled principal payments on debt	(1,603,805)	(1,109,798)
Debt issuance costs	(163,820)	(528,744)
Prepaid debt issuance costs	(1,075,000)	0
Gross proceeds from issuance of common stock	0	18,879,430
Offering costs	(526,598)	(2,152,888)
Redemption of common stock	(3,064,408)	(1,085,756)
Distributions paid to common stockholders	(13,115,607)	(12,425,167)
Distributions paid to noncontrolling interests in our Operating Partnership	(226,646)	(177,398)
Net cash provided by (used in) financing activities	(16,975,884)	39,915,580
Impact of foreign exchange rate changes on cash and restricted cash	(41,883)	230,116
Change in cash, cash equivalents, and restricted cash	(2,797,385)	(476,211)
Cash, cash equivalents, and restricted cash beginning of period	11,868,412	18,034,805
Cash, cash equivalents, and restricted cash end of period	9,071,027	17,558,594
Supplemental disclosures and non-cash transactions:
Cash paid for interest	13,534,949	11,694,161
Supplemental disclosure of noncash activities:
Deposits applied to purchase of real estate facilities	0	250,000
Debt and accrued liabilities assumed during purchase of real estate facilities	0	39,967,786
Prepaid debt issuance costs included in accounts payable and accrued liabilities	155,439	0
Additions to real estate and construction in process included in accounts payable	65,160	0
Redemption of common stock included in accounts payable and accrued liabilities	4,638,448	646,796
Transfer of construction in process to real estate facilities	0	1,782,546
Offering costs included in due to affiliates	0	299,299
Foreign currency contracts, interest rate swaps, and interest rate cap contract in accounts payable and accrued liabilities and other assets	735,942	574,120
Issuance of shares pursuant to distribution reinvestment plan	12,042,676	11,988,010
Distributions payable	2,801,394	2,743,955
Issuance of units in our Operating Partnership for purchase of real estate facilities	$ 0	$ 4,875,454

Organization

Organization	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Organization	Note 1. Organization Strategic Storage Trust II, Inc., a Maryland corporation (the “Company”), was formed on January 8, 2013 under the Maryland General Corporation Law for the purpose of engaging in the business of investing in self storage facilities. The Company’s year-end is December 31. As used in this report, “we,” “us,” “our,” and “Company” refer to Strategic Storage Trust II, Inc. and each of our subsidiaries. SmartStop Asset Management, LLC, a Delaware limited liability company (our “Sponsor”) organized in 2013, was the sponsor of our Offering of shares of our common stock, as described below. Our Sponsor is a company focused on providing real estate advisory, asset management, and property management services. Our Sponsor owns 97.5% of the economic interests (and 100% of the voting membership interests) of Strategic Storage Advisor II, LLC (our “Advisor”) and owns 100% of Strategic Storage Property Management II, LLC (our “Property Manager”). On October 1, 2015, SmartStop Self Storage, Inc. (“SmartStop”) and Extra Space Storage Inc. (“Extra Space”), along with subsidiaries of each of SmartStop and Extra Space, closed on a merger transaction (the “Extra Space Merger”) in which SmartStop was acquired by Extra Space for $13.75 per share in cash, representing an enterprise value of approximately $1.4 billion. At the closing of the Extra Space Merger, our Sponsor, which was previously owned by SmartStop, was sold to an entity controlled by H. Michael Schwartz, our Chairman of the Board of Directors and Chief Executive Officer, and became our Sponsor. The former executive management team of SmartStop continued to serve on the executive management team for our Sponsor. In addition, the majority of our management team at the time of the Extra Space Merger continues to serve on our management team, as well as the management team of our Advisor and Property Manager. We have no employees. Our Advisor, a Delaware limited liability company, was formed on January 8, 2013. Our Advisor is responsible for managing our affairs on a day-to-day basis and identifying and making acquisitions and investments on our behalf under the terms of the advisory agreement we have with our Advisor (our “Advisory Agreement”). The officers of our Advisor, as well as a majority of the officers of our Sponsor, are also officers of us. Our Articles of Amendment and Restatement, as amended, authorized 350,000,000 shares of Class A common stock, $0.001 par value per share (the “Class A Shares”) and 350,000,000 shares of Class T common stock, $0.001 par value per share (the “Class T Shares”) and 200,000,000 shares of preferred stock with a par value of $0.001. We offered a maximum of $1.0 billion in common shares for sale to the public (the “Primary Offering”) and $95.0 million in common shares for sale pursuant to our distribution reinvestment plan (collectively, the “Offering”). On January 10, 2014, the Securities and Exchange Commission (“SEC”) declared our registration statement effective. On May 23, 2014, we satisfied the $1.5 million minimum offering requirements of our Offering and commenced formal operations. On January 9, 2017, our Offering terminated. We sold approximately 48 million Class A Shares and approximately 7 million Class T Shares for approximately $493 million and $73 million respectively, in our Offering. On November 30, 2016, prior to the termination of our Offering, we filed with the SEC a Registration Statement on Form S-3, which registered up to an additional $100.9 million in shares under our distribution reinvestment plan (our “DRP Offering”). The DRP Offering may be terminated at any time upon 10 days’ prior written notice to stockholders. As of September 30, 2018, we had sold approximately 2.4 million Class A Shares and approximately 0.4 million Class T Shares for approximately $24.3 million and $3.7 million, respectively, in our DRP Offering. We invested the net proceeds from our Offering primarily in self storage facilities. As of September 30, 2018, we owned 83 self storage facilities located in 14 states (Alabama, California, Colorado, Florida, Illinois, Indiana, Maryland, Michigan, New Jersey, Nevada, North Carolina, Ohio, South Carolina and Washington) and Canada (the Greater Toronto Area). On April 19, 2018, our board of directors, upon recommendation of our Nominating and Corporate Governance Committee, approved an estimated value per share of our common stock of $10.65 for our Class A Shares and Class T Shares based on the estimated value of our assets less the estimated value of our liabilities, or net asset value, divided by the number of shares outstanding on a fully diluted basis, calculated as of December 31, 2017. As a result of the calculation of our estimated value per share, beginning in May 2018, shares sold pursuant to our distribution reinvestment plan are being sold at the estimated value per share of $10.65 for both Class A Shares and Class T Shares. Our operating partnership, Strategic Storage Operating Partnership II, L.P., a Delaware limited partnership (our “Operating Partnership”), was formed on January 9, 2013. During 2013, our Advisor purchased limited partnership interests in our Operating Partnership for $200,000 and on August 2, 2013, we contributed the initial $1,000 capital contribution we received to our Operating Partnership in exchange for the general partner interest. In conjunction with the Toronto Merger (as defined in Note 7) we issued an aggregate of approximately 483,197 Class A Units of our Operating Partnership to the common stockholders of Strategic Storage Toronto Properties REIT, Inc. (“SS Toronto”), consisting of Strategic 1031, LLC (“Strategic 1031”), a subsidiary of our Sponsor, and SS Toronto REIT Advisors, Inc., an affiliate of our Sponsor. Our Operating Partnership owns, directly or indirectly through one or more special purpose entities, all of the self storage properties that we acquire. As of September 30, 2018, we owned approximately 99.1% of the common units of limited partnership interests of our Operating Partnership. The remaining approximately 0.9% of the common units are owned by our Advisor, Strategic 1031, and SS Toronto REIT Advisors, Inc. As the sole general partner of our Operating Partnership, we have the exclusive power to manage and conduct the business of our Operating Partnership. We conduct certain activities through our taxable REIT subsidiary, Strategic Storage TRS II, Inc., a Delaware corporation (the “TRS”), which is a wholly-owned subsidiary of our Operating Partnership. Our Property Manager was formed on January 8, 2013 to manage our properties. Our Property Manager derives substantially all of its income from the property management services it performs for us. Our Property Manager may enter into sub-property management agreements with third party management companies and pay part of its management fee to such sub-property manager. From October 1, 2015 through September 30, 2017, our Property Manager contracted with Extra Space for Extra Space to serve as the sub-property manager for each of our properties located in the United States pursuant to separate sub-property management agreements for each property. On October 1, 2017, our Property Manager terminated its sub-property management agreements with Extra Space and our Property Manager began managing all of our properties in the United States directly. In connection therewith, an affiliate of our Property Manager reacquired the rights to the “SmartStop® Self Storage” brand in the United States. As a result, we began using the “SmartStop® Self Storage” brand at our United States properties effective October 1, 2017. Please see Note 7 – Related Party Transactions – Property Management Agreement. All properties owned or acquired in Canada have been and will continue to be managed by a subsidiary of our Sponsor and are branded using the SmartStop® Self Storage brand. Our dealer manager is Select Capital Corporation, a California corporation (our “Dealer Manager”). Our Dealer Manager was responsible for marketing our shares offered pursuant to our Primary Offering. Our Sponsor owns a 15% non-voting equity interest in our Dealer Manager. Affiliates of our Dealer Manager own a 2.5% non-voting membership interest in our Advisor. Our Sponsor owns 100% of the membership interests of Strategic Transfer Agent Services, LLC, our transfer agent (our “Transfer Agent”). On May 31, 2018, the Company executed an agreement (the “Transfer Agent Agreement”), with our Transfer Agent to provide transfer agent and registrar services to us that are substantially similar to what a third party transfer agent would provide in the ordinary course of performing its functions as a transfer agent. Our Transfer Agent may retain and supervise third party vendors in its efforts to administer certain services. Please see Note 7 – Related Party Transactions – Transfer Agent Agreement. As we accepted subscriptions for shares of our common stock, we transferred all of the net offering proceeds to our Operating Partnership as capital contributions in exchange for additional units of interest in our Operating Partnership. However, we were deemed to have made capital contributions in the amount of gross proceeds received from investors, and our Operating Partnership was deemed to have simultaneously paid the sales commissions and other costs associated with the Offering. In addition, our Operating Partnership is structured to make distributions with respect to limited partnership units that are equivalent to the distributions made to holders of common stock. Finally, a limited partner in our Operating Partnership may later exchange his or her limited partnership units in our Operating Partnership for shares of our common stock at any time after one year following the date of issuance of their limited partnership units, subject to certain restrictions outlined in our Operating Partnership’s limited partnership agreement (the “Operating Partnership Agreement”). Our Advisor is prohibited from exchanging or otherwise transferring its limited partnership units so long as it is acting as our Advisor pursuant to our Advisory Agreement. On October 1, 2018, we, our Operating Partnership, and SST II Growth Acquisition, LLC, our wholly-owned subsidiary (“Merger Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Strategic Storage Growth Trust, Inc. (“SSGT”), a non-traded REIT sponsored by our Sponsor, and SS Growth Operating Partnership, L.P. (“SSGT OP”). Pursuant to the terms of the Merger Agreement, SSGT will merge with and into Merger Sub, with Merger Sub being the surviving entity (the “REIT Merger”), and immediately after the REIT Merger, SSGT OP will merge with and into our Operating Partnership, with our Operating Partnership continuing as the surviving entity and our subsidiary (the “Partnership Merger” and, together with the REIT Merger, the “Mergers”). See Note 11, Potential Merger

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC. Principles of Consolidation Our financial statements, and the financial statements of our Operating Partnership, including its wholly-owned subsidiaries, are consolidated in the accompanying consolidated financial statements. The portion of these entities not wholly-owned by us is presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated in consolidation. Consolidation Considerations Current accounting guidance provides a framework for identifying a variable interest entity (“VIE”) and determining when a company should include the assets, liabilities, noncontrolling interests, and results of activities of a VIE in its consolidated financial statements. In general, a VIE is an entity or other legal structure used to conduct activities or hold assets that either (1) has an insufficient amount of equity to carry out its principal activities without additional subordinated financial support, (2) has a group of equity owners that are unable to make significant decisions about its activities, or (3) has a group of equity owners that do not have the obligation to absorb losses or the right to receive returns generated by its operations. Generally, a VIE should be consolidated if a party with an ownership, contractual, or other financial interest in the VIE (a variable interest holder) has the power to direct the VIE’s most significant activities and the obligation to absorb losses or right to receive benefits of the VIE that could be significant to the VIE. A variable interest holder that consolidates the VIE is called the primary beneficiary. Upon consolidation, the primary beneficiary generally must initially record all of the VIE’s assets, liabilities, and noncontrolling interest at fair value and subsequently account for the VIE as if it were consolidated based on majority voting interest. Our Operating Partnership is deemed to be a VIE and is consolidated by the Company as the primary beneficiary. As of December 31, 2017, we had not entered into any other contracts/interests that would be deemed to be variable interests in VIEs other than our Operating Partnership. As of September 30, 2018, we had not entered into any other contracts/interest that would be deemed to be variable interest in VIEs other than our tenant insurance joint venture and a real estate joint venture, both of which are accounted for under the equity method of accounting. Please see Note 3 – Real Estate Facilities for further discussion regarding our joint venture with SmartCentres and Note 7 – Related Party Transactions for further discussions regarding our tenant insurance joint venture. Other than these joint ventures, we do not currently have any relationships with unconsolidated entities or financial partnerships. Under the equity method, our investments in real estate joint ventures will be stated at cost and adjusted for our share of net earnings or losses and reduced by distributions. Equity in earnings of real estate joint ventures will generally be recognized based on our ownership interest in the earnings of each of the unconsolidated real estate joint ventures. Noncontrolling Interest in Consolidated Entities We account for the noncontrolling interest in our Operating Partnership in accordance with the related accounting guidance. Due to our control through our general partnership interest in our Operating Partnership and the limited rights of the limited partner, our Operating Partnership, including its wholly-owned subsidiaries, are consolidated with the Company and the limited partner interest is reflected as a noncontrolling interest in the accompanying consolidated balance sheets. The noncontrolling interest shall be attributed its share of income and losses, even if that attribution results in a deficit noncontrolling interest balance. Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions. Management will adjust such estimates when facts and circumstances dictate. Actual results could materially differ from those estimates. The most significant estimates made include the allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed at relative fair value, the determination if certain entities should be consolidated, the evaluation of potential impairment of long-lived assets, and the estimated useful lives of real estate assets and intangibles. Cash and Cash Equivalents We consider all short-term, highly liquid investments that are readily convertible to cash with a maturity of three months or less at the time of purchase to be cash equivalents. We may maintain cash and cash equivalents in financial institutions in excess of insured limits, but believe this risk will be mitigated by only investing in or through major financial institutions. Restricted Cash Restricted cash consists primarily of impound reserve accounts for property taxes, insurance and capital improvements in connection with the requirements of certain of our loan agreements. Real Estate Purchase Price Allocation We account for acquisitions in accordance with GAAP which requires that we allocate the purchase price of a property to the tangible and intangible assets acquired and the liabilities assumed based on their relative fair values. This guidance requires us to make significant estimates and assumptions, including fair value estimates, which requires the use of significant unobservable inputs as of the acquisition date. The value of the tangible assets, consisting of land and buildings is determined as if vacant . Substantially all of the leases in place at acquired properties are at market rates, as the majority of the leases are month-to-month contracts. We also consider whether in-place, market leases represent an intangible asset. We recorded $0 and approximately $4.4 million in intangible assets to recognize the value of in-place leases related to our acquisitions during the nine months ended September 30, 2018 and the year ended December 31, 2017, respectively. We do not expect, nor to date have we recorded, intangible assets for the value of customer relationships because we expect we will not have concentrations of significant customers and the average customer turnover will be fairly frequent. Allocation of purchase price to acquisitions of portfolios of facilities are allocated to the individual facilities based upon an income approach or a cash flow analysis using appropriate risk adjusted capitalization rates which take into account the relative size, age, and location of the individual facility along with current and projected occupancy and rental rate levels or appraised values, if available. In January 2017, the FASB issued Accounting Standards Update 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business” (“ASU 2017-01”). ASU 2017-01 clarifies the framework for determining whether an integrated set of assets and activities meets the definition of a business. The revised framework provides guidance for determining whether an integrated set of assets and activities is a business and narrows the definition of a business, which is expected to result in fewer transactions being accounted for as business combinations. Acquisitions of integrated sets of assets and activities that do not meet the definition of a business are accounted for as asset acquisitions. We adopted this ASU on January 1, 2018. We expect that acquisitions of real estate or in-substance real estate will not meet the revised definition of a business because substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets (i.e. land, buildings, and related intangible assets) or because the acquisition does not include a substantive process in the form of an acquired workforce or an acquired contract that cannot be replaced without significant cost, effort or delay. As a result, once an acquisition is deemed probable, transaction costs are capitalized rather than expensed. We have yet to acquire any properties that require capitalization of acquisition related transaction costs that would have previously been expensed under the guidance in effect prior to January 1, 2018. During the three months ended September 30, 2018 and 2017, we expensed approximately $0.6 million and none, respectively, of acquisition-related transaction costs that did not meet our capitalization policy during the respective periods. During the nine months ended September 30, 2018 and 2017, we expensed approximately $0.9 million and $0.5 million, respectively, of acquisition-related transaction costs that did not meet our capitalization policy during the respective periods. Evaluation of Possible Impairment of Long-Lived Assets Management monitors events and changes in circumstances that could indicate that the carrying amounts of our long-lived assets may not be recoverable. When indicators of potential impairment are present that indicate that the carrying amounts of the assets may not be recoverable, we will assess the recoverability of the assets by determining whether the carrying value of the long-lived assets will be recovered through the undiscounted future operating cash flows expected from the use of the asset and its eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying value, we will adjust the value of the long-lived assets to the fair value and recognize an impairment loss. For the three and nine months ended September 30, 2018 and 2017, no impairment losses were recognized. Revenue Recognition Management believes that all of our leases are operating leases. Rental income is recognized in accordance with the terms of the leases, which generally are month-to-month. Revenues from any long-term operating leases are recognized on a straight-line basis over the term of the lease. The excess of rents received over amounts contractually due pursuant to the underlying leases is included in accounts payable and accrued liabilities in our consolidated balance sheets and contractually due but unpaid rent is included in other assets. Allowance for Doubtful Accounts Tenant accounts receivable is reported net of an allowance for doubtful accounts. Management’s estimate of the allowance is based upon a review of the current status of tenant accounts receivable. It is reasonably possible that management’s estimate of the allowance will change in the future. Real Estate Facilities Real estate facilities are recorded based on relative fair value as of the date of acquisition. We capitalize costs incurred to develop, construct, renovate and improve properties, including interest and property taxes incurred during the construction period. 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. Depreciation of Real Property Assets Our management is required to make subjective assessments as to the useful lives of our depreciable assets. We consider the period of future benefit of the asset to determine the appropriate useful lives. Depreciation of our real property assets is charged to expense on a straight-line basis over the estimated useful lives Description Standard Depreciable Life Land Not Depreciated Buildings 30-35 years Site Improvements 7-10 years Depreciation of Personal Property Assets Personal property assets consist primarily of furniture, fixtures and equipment and are depreciated on a straight-line basis over the estimated useful lives generally ranging from 3 to 5 years, and are included in other assets on our consolidated balance sheets. Intangible Assets We have allocated a portion of our real estate purchase price to in-place lease intangibles. We are amortizing in-place lease intangibles on a straight-line basis over the estimated future benefit period. As of September 30, 2018, the gross amounts allocated to in-place lease intangibles was approximately $34 million and accumulated amortization of in-place lease intangibles totaled approximately $32 million. As of December 31, 2017, the gross amounts allocated to in-place lease intangibles was approximately $34 million and accumulated amortization of in-place lease intangibles totaled approximately $30 million. The total estimated future amortization expense of intangible assets for the years ending December 31, 2018, 2019, 2020, 2021, 2022, and thereafter is approximately $25,000, $0.1 million, $0.1 million, $0.1 million, $0.1 million, and $1.2 million respectively. Debt Issuance Costs The net carrying value of costs incurred in connection with our revolving credit facility are presented as debt issuance costs on our consolidated balance sheets. Debt issuance costs are amortized on a straight-line basis over the term of the related loan, which is not materially different than the effective interest method. As of September 30, 2018 and December 31, 2017, accumulated amortization of debt issuance costs related to our revolving credit facility totaled approximately $2.1 million and $1.5 million, respectively. The net carrying value of costs incurred in connection with obtaining non revolving debt are presented on the balance sheet as a deduction from debt (see Note 5). Debt issuance costs are amortized on a straight-line basis over the term of the related loan, which is not materially different than the effective interest method. As of September 30, 2018 and December 31, 2017, accumulated amortization of debt issuance costs related to non-revolving debt totaled approximately $0.9 million and $0.6 million, respectively. Offering Costs We pay our Dealer Manager an ongoing stockholder servicing fee that is payable monthly and accrues daily in an amount equal to 1/365th of 1% of the purchase price per share of the Class T Shares sold in the Primary Offering. We will cease paying the stockholder servicing fee with respect to the Class T Shares sold in the Primary Offering at the earlier of (i) the date we list our shares on a national securities exchange, merge or consolidate with or into another entity, or sell or dispose of all or substantially all of our assets, (ii) the date at which the aggregate underwriting compensation from all sources equals 10% of the gross proceeds from the sale of both Class A Shares and Class T Shares in our Primary Offering (i.e., excluding proceeds from sales pursuant to our distribution reinvestment plan), which calculation shall be made by us with the assistance of our Dealer Manager commencing after the termination of the Primary Offering; (iii) the fifth anniversary of the last day of the fiscal quarter in which our Primary Offering (i.e., excluding our distribution reinvestment plan offering) terminated; and (iv) the date that such Class T Share is redeemed or is no longer outstanding. Our Dealer Manager entered into participating dealer agreements with certain other broker-dealers which authorized them to sell our shares. Upon sale of our shares by such broker-dealers, our Dealer Manager re-allowed all of the sales commissions and, subject to certain limitations, the stockholder servicing fees paid in connection with sales made by these broker-dealers. Our Dealer Manager was also permitted to re-allow to these broker-dealers a portion of their dealer manager fee as marketing fees, reimbursement of certain costs and expenses of attending training and education meetings sponsored by our Dealer Manager, payment of attendance fees required for employees of our Dealer Manager or other affiliates to attend retail seminars and public seminars sponsored by these broker-dealers, or to defray other distribution-related expenses. Our Dealer Manager also received reimbursement of bona fide due diligence expenses; however, to the extent the due diligence expenses could not be justified, any excess over actual due diligence expenses would have been considered underwriting compensation subject to a 10% FINRA limitation and, when aggregated with all other non-accountable expenses in connection with our Public Offering, could not exceed 3% of gross offering proceeds from sales in the Public Offering. We recorded a liability within Due to affiliates for the future estimated stockholder servicing fees at the time of sale of Class T Shares as an offering cost. Foreign Currency Translation For non-U.S. functional currency operations, assets and liabilities are translated to U.S. dollars at current exchange rates. Revenues and expenses are translated at the average rates for the period. All related adjustments are recorded in accumulated other comprehensive income (loss) as a separate component of equity. Transactions denominated in a currency other than the functional currency of the related operation are recorded at rates of exchange in effect at the date of the transaction. Gains or losses on foreign currency transactions are recorded in other income (expense). Redeemable Common Stock We adopted a share redemption program that enables stockholders to sell their shares to us in limited circumstances. We record amounts that are redeemable under the share redemption program as redeemable common stock in the accompanying consolidated balance sheets since the shares are redeemable at the option of the holder and therefore their redemption is outside our control. The maximum amount redeemable under our share redemption program is limited to the number of shares we can repurchase with the amount of the net proceeds from the sale of shares under the distribution reinvestment plan. However, accounting guidance states that determinable amounts that can become redeemable should be presented as redeemable when such amount is known. Therefore, the net proceeds from the distribution reinvestment plan are considered to be temporary equity and are presented as redeemable common stock in the accompanying consolidated balance sheets. In addition, current accounting guidance requires, among other things, that financial instruments that represent a mandatory obligation of us to repurchase shares be classified as liabilities and reported at settlement value. Our redeemable common shares are contingently redeemable at the option of the holder. When we determine we have a mandatory obligation to repurchase shares under the share redemption program, we reclassify such obligations from temporary equity to a liability based upon their respective settlement values. For the year ended December 31, 2017, we received redemption requests totaling approximately $2.2 million (approximately 0.2 million shares), approximately $1.5 million of which were fulfilled during the year ended December 31, 2017, with the remaining approximately $0.7 million included in accounts payable and accrued liabilities as of December 31, 2017 and fulfilled in January 2018. For the nine months ended September 30, 2018, we received redemption requests totaling approximately $7.0 million (approximately 0.7 million shares), approximately $2.3 million of which were fulfilled in April and July of 2018, and approximately $4.6 million of which were included in accounts payable and accrued liabilities as of September 30, 2018, and fulfilled in October of 2018. Accounting for Equity Awards The cost of restricted stock is required to be measured based on the grant date fair value and the cost recognized over the relevant service period. Fair Value Measurements Under GAAP, we are required to measure certain financial instruments at fair value on a recurring basis. In addition, we are required to measure other financial instruments and balances at fair value on a non-recurring basis. Fair value is defined by the accounting standard for fair value measurements and disclosures as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. It also establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels. The following summarizes the three levels of inputs and hierarchy of fair value we use when measuring fair value: • Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access; • Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as interest rates and yield curves that are observable at commonly quoted intervals; and • Level 3 inputs are unobservable inputs for the assets or liabilities that are typically based on an entity’s own assumptions as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the fair value measurement will fall within the lowest level that is significant to the fair value measurement in its entirety. The accounting guidance for fair value measurements and disclosures provides a framework for measuring fair value and establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. In determining fair value, we will utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as consider counterparty credit risk in our assessment of fair value. Considerable judgment will be necessary to interpret Level 2 and 3 inputs in determining fair value of our financial and non-financial assets and liabilities. Accordingly, there can be no assurance that the fair values we will present will be indicative of amounts that may ultimately be realized upon sale or other disposition of these assets. Financial and non-financial assets and liabilities measured at fair value on a non-recurring basis in our consolidated financial statements consist of real estate and related liabilities assumed related to our acquisitions. The fair values of these assets and liabilities were determined as of the acquisition dates using widely accepted valuation techniques, including (i) discounted cash flow analysis, which considers, among other things, leasing assumptions, growth rates, discount rates and terminal capitalization rates, (ii) income capitalization approach, which considers prevailing market capitalization rates, and (iii) comparable sales activity. In general, we consider multiple valuation techniques when measuring fair values. However, in certain circumstances, a single valuation technique may be appropriate. All of the fair values of the assets and liabilities as of the acquisition dates were derived using Level 3 inputs. The carrying amounts of cash and cash equivalents, restricted cash, other assets, variable-rate debt, accounts payable and accrued liabilities, distributions payable and amounts due to affiliates approximate fair value. The table below summarizes our fixed rate notes payable at September 30, 2018 and December 31, 2017. The estimated fair value of financial instruments is subjective in nature and is dependent on a number of important assumptions, including discount rates and relevant comparable market information associated with each financial instrument. The fair value of the fixed rate notes payable was estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The use of different market assumptions and estimation methodologies may have a material effect on the reported estimated fair value amounts. Accordingly, the estimates presented below are not necessarily indicative of the amounts we would realize in a current market exchange. September 30, 2018 December 31, 2017 Fair Value Carrying Value Fair Value Carrying Value Fixed Rate Secured Debt $ 205,700,000 $ 217,430,858 $ 213,300,000 $ 218,332,483 As of September 30, 2018, we had interest rate swaps, an interest rate cap, and a net investment hedge (See Notes 5 and 6). The valuations of these instruments were determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of the derivative. The analysis reflected the contractual terms of the derivative, including the period to maturity, and used observable market-based inputs, including interest rate curves, foreign exchange rates, and implied volatilities. The fair value of the interest rate swaps were determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash payments. Our fair values of our net investment hedges are based on the change in the spot rate at the end of the period as compared with the strike price at inception. To comply with GAAP, we incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of derivative contracts for the effect of non-performance risk, we will consider the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. Although we had determined that the majority of the inputs used to value our derivatives were within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilized Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by us and our counterparties. However, through September 30, 2018, we had assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and determined that the credit valuation adjustments were not significant to the overall valuation of our derivatives. As a result, we determined that our derivative valuations in their entirety were classified in Level 2 of the fair value hierarchy. Derivative Instruments and Hedging Activities We record all derivatives on our balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have 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. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. We may enter into derivative contracts that are intended to economically hedge certain of our risks, even though hedge accounting does not apply or we elect not to apply hedge accounting. For derivatives designated as net investment hedges, the effective portion of changes in the fair value of the derivatives are reported in accumulated other comprehensive income. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. Amounts are reclassified out of other comprehensive income into earnings when the hedged net investment is either sold or substantially liquidated. Income Taxes We made an election to be taxed as a Real Estate Investment Trust (“REIT”), under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with our taxable year ended December 31, 2014. To qualify as a REIT, we must continue to meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the REIT’s ordinary taxable income to stockholders (which is computed without regard to the dividends paid deduction or net capital gains and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, we generally will not be subject to federal income tax on taxable income that we distribute to our stockholders. If we fail to qualify as a REIT in any taxable year, we will then be subject to federal income taxes on our taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year during which qualification is lost unless the IRS grants us relief under certain statutory provisions. Such an event could materially adversely affect our net income and net cash available for distribution to stockholders. However, we believe that we are organized and operate in such a manner as to qualify for treatment as a REIT and intend to operate in the foreseeable future in such a manner that we will remain qualified as a REIT for federal income tax purposes. Even if we continue to qualify for taxation as a REIT, we may be subject to certain state and local taxes on our income and property, and federal income and excise taxes on our undistributed income. We filed an election to treat our TRS as a taxable REIT subsidiary effective January 1, 2014. In general, the TRS performs additional services for our customers and generally engages in any real estate or non-real estate related business. The TRS is subject to corporate federal and state income tax. The TRS follows accounting guidance which requires the use of the asset and liability method. Deferred income taxes represent the tax effect of future differences between the book and tax bases of assets and liabilities. Per Share Data Basic earnings per share attributable to our common stockholders for all periods presented are computed by dividing net income (loss) attributable to our common stockholders by the weighted average number of shares outstanding during the period, excluding unvested restricted stock. Diluted earnings per share is computed by including the dilutive effect of unvested restricted stock, utilizing the treasury stock method. For all periods presented, the dilutive effect of unrestricted stock was not included in the diluted weighted average shares as such shares were antidilutive. Recently Issued Accounting Guidance In May 2014, the FASB issued ASU 2014-09 “Revenue from Contracts with Customers” as ASC Topic 606. The objective of ASU 2014-09 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying the new standard, companies will perform a five-step analysis of transactions to determine when and how revenue is recognized. ASU 2014-09 applies to all contracts with customers except those that are within the scope of other topics in the FASB ASC. This ASU was applied using the modified retrospective approach. We have determined that our self storage rental revenues are not subject to the guidance in ASU 2014-09, as they qualify as lease contracts, which are excluded from its scope. We adopted this ASU on January 1, 2018 and its adoption did not have a material impact on our consolidated financial statem

Real Estate Facilities

Real Estate Facilities	9 Months Ended
	Sep. 30, 2018
Real Estate [Abstract]
Real Estate Facilities	Note 3. Real Estate Facilities The following summarizes the activity in real estate facilities during the nine months ended September 30, 2018: Real estate facilities Balance at December 31, 2017 $ 829,679,477 Impact of foreign exchange rate changes (4,135,139 ) Improvements and additions 1,159,083 Balance at September 30, 2018 $ 826,703,421 Accumulated depreciation Balance at December 31, 2017 $ (34,686,973 ) Depreciation expense (15,060,835 ) Impact of foreign exchange rate changes 138,758 Balance at September 30, 2018 $ (49,609,050 ) Joint Venture with SmartCentres In January 2018, a subsidiary of our Sponsor entered into a contribution agreement (the “Contribution Agreement”) with a subsidiary of SmartCentres Real Estate Investment Trust, an unaffiliated third party (“SmartCentres”), for a tract of land owned by SmartCentres and located in East York, Ontario (the “East York Lot”) in Canada. In March 2018, the interest in the Contribution Agreement was assigned to one of our subsidiaries. On June 28, 2018, we closed on the East York Lot, which is now owned by a limited partnership (the “Limited Partnership”), in which we (through our subsidiary) and SmartCentres (through its subsidiary) are each a 50% limited partner and each have an equal ranking general partner in the Limited Partnership. At closing, we subscribed for 50% of the units in the Limited Partnership at an agreed upon subscription price of approximately $3.8 million CAD, representing a contribution equivalent to 50% of the agreed upon fair market value of the land. The Limited Partnership intends to develop a self storage facility on the East York Lot. The value of the land contributed to the Limited Partnership had an agreed upon fair market value of approximately $7.6 million CAD.

Pro Forma Financial Information

Pro Forma Financial Information (Unaudited)	9 Months Ended
	Sep. 30, 2018
Business Acquisition Pro Forma Information [Abstract]
Pro Forma Financial Information (Unaudited)	Note 4. Pro Forma Financial Information (Unaudited) The table set forth below summarizes, on a pro forma basis, the combined results of operations of the Company for the nine months ended September 30, 2018 and 2017. Such presentation reflects the Company’s acquisitions that occurred during 2017, which met the GAAP definition of a business in effect at that time, as if the acquisitions had occurred as of January 1, 2016. However, for acquisitions of lease-up properties that were not operational as of these dates, the pro forma information includes these acquisitions as of the date that formal operations began. There were no acquisitions completed during the nine months ended September 30, 2018. This pro forma information does not purport to represent what the actual consolidated results of operations of the Company would have been for the periods indicated, nor does it purport to predict the results of operations for future periods. For the nine months ended September 30, 2018 September 30, 2017 Pro forma revenue $ 60,225,042 $ 57,188,309 Pro forma operating expenses (46,127,260 ) (45,442,165 ) Pro forma net loss attributable to common stockholders (234,620 ) (2,291,516 ) The pro forma financial information for the nine months ended September 30, 2018 and 2017 was adjusted to exclude $0 and approximately $0.5 million, respectively, for acquisition related expenses.

Debt

Debt	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Debt	Note 5. Debt The Company’s debt is summarized as follows: Encumbered Property September 30, 2018 December 2017 Interest Rate Maturity Date Raleigh/Myrtle Beach promissory note (1) $ 11,929,458 $ 12,076,470 5.73 % 9/1/2023 Amended KeyBank Credit Facility (2) 89,182,500 86,382,500 4.76 % (11) 12/22/2018 (13) Milton fixed rate (3) 5,040,575 5,238,606 5.81 % 10/15/2018 (12) Burlington I fixed rate (3) 4,905,228 5,120,423 5.98 % 10/15/2018 (12) Burlington I variable rate (3) 2,336,370 2,402,418 5.97 % 10/15/2018 (12) Oakville I variable rate (3) 7,799,019 8,019,489 5.45 % 12/31/2018 (12) Burlington II and Oakville II variable rate (3) 12,286,742 12,834,819 4.34 % 2/28/2021 (12) Oakland and Concord loan (4) 19,604,712 19,960,190 3.95 % 4/10/2023 KeyBank CMBS Loan (5) 95,000,000 95,000,000 3.89 % 8/1/2026 KeyBank Florida CMBS Loan (6) 52,000,000 52,000,000 4.65 % 5/1/2027 $11M KeyBank Subordinate Loan (7) 11,000,000 11,000,000 6.01 % (11) 6/1/2020 Midland North Carolina CMBS Loan (8) 47,249,999 47,249,999 5.31 % 8/1/2024 Dufferin loan (9) 10,541,343 11,172,315 3.21 % 5/31/2019 (12) Mavis loan (9) 8,885,034 9,416,609 3.21 % 5/31/2019 (12) Brewster loan (9) 5,807,151 6,154,532 3.21 % 5/31/2019 (12) Granite variable rate loan (10) 6,906,378 7,101,614 6.45 % 12/1/2018 (12) Centennial variable rate loan (10) 6,202,444 6,377,780 6.70 % 12/1/2018 (12) Premium on secured debt, net 1,305,598 1,646,988 Debt issuance costs, net (2,073,373 ) (2,361,850 ) Total debt $ 395,909,178 $ 396,792,902 (1) Fixed rate debt with principal and interest payments due monthly. This promissory note is encumbered by five properties (Morrisville, Cary, Raleigh, Myrtle Beach I, and Myrtle Beach II). (2) As of September 30, 2018, this facility encumbers 21 properties (Xenia, Sidney, Troy, Greenville, Washington Court House, Richmond, Connersville, Vallejo, Port St. Lucie I, Sacramento, Sonoma, Las Vegas I, Las Vegas II, Las Vegas III, Baltimore, Aurora II, Plantation, Wellington, Naples, Port St. Lucie II, and Doral). (3) Canadian Dollar denominated loans shown above in USD based on the foreign exchange rate in effect as of September 30, 2018. Variable rate loans are based on Canadian Prime, or the Canadian Dealer Offered Rate (“CDOR”). (4) This loan was assumed during the acquisition of the Oakland and Concord properties, along with an interest rate swap with USAmeriBank that fixes the interest rate at 3.95%. (5) This loan encumbers 29 properties (Whittier, La Verne, Santa Ana, Upland, La Habra, Monterey Park, Huntington Beach, Chico, Lancaster I, Riverside, Fairfield, Lompoc, Santa Rosa, Federal Heights, Aurora, Littleton, Bloomingdale, Crestwood, Forestville, Warren I, Sterling Heights, Troy, Warren II, Beverly, Everett, Foley, Tampa, Boynton Beach, and Lancaster II). The separate assets of these encumbered properties are not available to pay our other debts. The equity interests in the entities that own these encumbered properties are pledged as collateral in the $11M KeyBank Subordinate Loan. See footnote 7, below. (6) This loan encumbers five properties (Pompano Beach, Lake Worth, Jupiter, Royal Palm Beach, and Delray). The separate assets of these encumbered properties are not available to pay our other debts. The equity interests in the entities that own these encumbered properties are pledged as collateral in the $11M KeyBank Subordinate Loan. See footnote 7, below. (7) This variable rate loan encumbers 49% of the equity interest in the entities that own the 34 properties (the 29 properties encumbered by the KeyBank CMBS Loan and the five properties encumbered by the KeyBank Florida CMBS Loan), and is subordinate to the existing KeyBank CMBS Loan and KeyBank Florida CMBS Loan. (8) This loan encumbers 11 self storage properties (Asheville I, Arden, Asheville II, Hendersonville I, Asheville III, Asheville IV, Asheville V, Asheville VI, Asheville VII, Asheville VIII, and Hendersonville II) with monthly interest only payments until September 2019, at which time both interest and principal payments will be due monthly. (9) Canadian Dollar denominated loans shown above in USD based on the foreign exchange rate in effect as of September 30, 2018. These loans were assumed during the Toronto Merger, along with an interest rate swap with the Bank of Montreal that fixes the interest rate at 3.21%. (10) Canadian Dollar denominated loans shown above in USD based on the foreign exchange rate in effect as of September 30, 2018. Variable rate loans are based on Canadian Prime. (11) We have a $90 million interest rate cap on our variable rate LIBOR based debt that caps LIBOR at 1.25%. See Note 6. (12) Subsequent to September 30, 2018, these loans were paid off in full with the proceeds of a new, two year term loan with Citibank, N.A. See Note 12 for further discussion. (13) Subsequent to September 30, 2018, we amended and restated our Amended KeyBank Credit Facility to extend the maturity date until February 20, 2019. See Note 12 for further discussion. The weighted average interest rate on our consolidated debt as of September 30, 2018 was approximately 4.62%. As of September 30, 2018, we provided recourse guarantees totaling approximately $42 million in connection with certain of our loans. We are subject to certain restrictive covenants relating to the outstanding debt. Amended KeyBank Credit Facility On December 22, 2015, we, through our Operating Partnership, and certain affiliated entities entered into an amended and restated revolving credit facility (the “Amended KeyBank Credit Facility”) with KeyBank National Association (“KeyBank”), as administrative agent and KeyBanc Capital Markets, LLC, as the sole book runner and sole lead arranger, and Texas Capital Bank, N.A., and Comerica Bank as co-lenders. Under the terms of the Amended KeyBank Credit Facility, we initially had a maximum borrowing capacity of $105 million. The Amended KeyBank Credit Facility may be increased to a maximum credit facility size of $500 million, in minimum increments of $10 million, which KeyBank will arrange on a best efforts basis. On February 18, 2016, we entered into a first amendment and joinder to the amended and restated credit agreement (the “First Amendment”) with KeyBank. Under the terms of the First Amendment, we added an additional $40 million to our maximum borrowing capacity for a total of $145 million with the admission of US Bank National Association (the “Subsequent Lender”). The Subsequent Lender also became a party to the Amended KeyBank Credit Facility through a joinder agreement in the First Amendment. As of September 30, 2018, we had approximately $89.2 million in borrowings outstanding under the Amended KeyBank Credit Facility. The Amended KeyBank Credit Facility is a revolving loan with an initial term of three years, maturing on December 22, 2018, with two one-year extension options subject to certain conditions outlined further in the credit agreement for the Amended KeyBank Credit Facility (the “Amended Credit Agreement”). On October 29, 2018, we amended and restated our Amended KeyBank Credit Facility, extending the maturity date to February 20, 2019. See Note 12 - Subsequent Events. Payments due pursuant to the Amended KeyBank Credit Facility are interest-only for the first 36 months and a 30-year amortization schedule thereafter. The Amended KeyBank Credit Facility bears interest based on the type of borrowing. The ABR Loans bear interest at the lesser of (x) the Alternate Base Rate (as defined in the Amended Credit Agreement) plus the Applicable Rate, or (y) the Maximum Rate (as defined in the Amended Credit Agreement). The Eurodollar Loans bear interest at the lesser of (a) the Adjusted LIBO Rate (as defined in the Amended Credit Agreement) for the Interest Period in effect plus the Applicable Rate, or (b) the Maximum Rate (as defined in the Amended Credit Agreement). The Applicable Rate corresponds to our total leverage, as specified in the Amended Credit Agreement. For any ABR Loans, the Applicable Rate is 125 basis points if our total leverage is less than 50%, and 150 basis points if our leverage is greater than 50%. For any Eurodollar Loan, the Applicable Rate is 225 basis points if our total leverage is less than 50% and 250 basis points if our total leverage is greater than 50%. The Amended KeyBank Credit Facility is fully recourse and is secured by cross-collateralized first mortgage liens on the mortgaged properties. The Amended KeyBank Credit Facility may be prepaid or terminated at any time without penalty, provided, however, that the Lenders (as defined in the Amended Credit Agreement) shall be indemnified for any breakage costs. Pursuant to that certain guaranty (the “KeyBank Guaranty”), dated December 22, 2015, in favor of the Lenders, we serve as a guarantor of all obligations due under the Amended KeyBank Credit Facility. Under certain conditions, the Borrower may cause the release of one or more of the properties serving as collateral for the Amended KeyBank Credit Facility, provided that no default or event of default is then outstanding or would reasonably occur as a result of such release, and after taking into account any prepayment of outstanding Loans (as defined in the Amended Credit Agreement) necessary to maintain compliance with the financial covenants. The Amended KeyBank Credit Facility contains a number of other customary terms and covenants, including the following (capitalized terms are as defined in the Amended Credit Agreement): the aggregate borrowing base availability under the Amended KeyBank Facility is limited to the lesser of: (1) 60% of the Pool Value of the properties in the collateral pool, or (2) an amount that would provide a minimum Debt Service Coverage Ratio of no less than 1.35 to 1.0; and we must meet the following financial tests, calculated as of the close of each fiscal quarter: (1) a Total Leverage Ratio of no more than 60%; (2) a Tangible Net Worth not at any time to be less than the Base Amount plus 80% of Net Equity Proceeds received after the Effective Date; (3) an Interest Coverage Ratio of no less than 1.85 to 1.0; (4) a Fixed Charge Ratio of no less than 1.6 to 1.0; (5) a ratio of varying rate Indebtedness to total Indebtedness not in excess of 30%; (6) a Loan to Value Ratio of not greater than 60%; and (7) a Debt Service Coverage Ratio of not less than 1.35 to 1.0. As of September 30, 2018, we were in compliance with all such covenants. During 2017, our Operating Partnership purchased an interest rate cap with a notional amount of $90 million, with an effective date of July 1, 2017 that caps LIBOR at 1.25% through December 22, 2018. The following table presents the future principal payment requirements on outstanding debt as of September 30, 2018: 2018 $ 122,872,859 (1) 2019 26,139,333 (1) 2020 12,622,834 (1) 2021 13,684,085 (1) 2022 3,635,428 2023 and thereafter 217,722,414 Total payments 396,676,953 Premium on secured debt, net 1,305,598 Debt issuance costs, net (2,073,373 ) Total $ 395,909,178 (1) On October 11, 2018, we repaid approximately $70.7 million of our Canadian debt with the proceeds from a new loan with Citibank. On October 29, 2018, we amended our Amended KeyBank Credit Facility to extend the maturity date until February 20, 2019. Subsequent to these debt transactions, future principal payment requirements on our outstanding debt for the years ending December 31, 2018, 2019, 2020, 2021, 2022, and thereafter are approximately $0.2 million, $90.1 million, $83.1 million, $2.0 million, $3.6 million, and $217.7 million, respectively. See Note 12 – Subsequent Events.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments	Note 6. Derivative Instruments Interest Rate Derivatives Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our exposure to interest rate movements. To accomplish this objective, we use interest rate swaps and caps as part of our interest rate risk management strategy. The effective portion of the change in the fair value of the derivative that qualifies as a cash flow hedge is recorded in accumulated other comprehensive income (“AOCI”) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. Amounts reported in AOCI related to derivatives will be reclassified to interest expense as interest payments are made on our variable-rate debt. We do not use derivatives for trading or speculative purposes. Derivatives not designated as hedges are not speculative and are used to manage our exposure to interest rate movements and other identified risks but we have elected not to apply hedge accounting. Changes in the fair value of derivatives not designated in hedging relationships are recorded in other income (expense) as income within our consolidated statements of operations and were approximately none and $20,000 for the three and nine months ended September 30, 2018, respectively. Foreign Currency Forward Our objectives in using foreign currency derivatives are to add stability to potential fluctuations in exchange rates between foreign currencies and the U.S. dollar and to manage our exposure to exchange rate movements. To accomplish this objective, we use foreign currency forwards as part of our exchange rate risk management strategy. A foreign currency forward contract is a commitment to deliver a certain amount of currency at a certain price on a specific date in the future. By entering into the forward contract and holding it to maturity, we are locked into a future currency exchange rate in an amount equal to and for the term of the forward contract. For derivatives designated as net investment hedges, the changes in the fair value of the derivatives are reported in accumulated other comprehensive income. Amounts are reclassified out of accumulated other comprehensive income into earnings when the hedged net investment is either sold or substantially liquidated. The following table summarizes the terms of our derivative financial instruments as of September 30, 2018: Notional Amount Strike Effective or Date Assumed Maturity Interest Rate Swaps: Oakland and Concord loan $ 19,604,712 3.95 % May 18, 2016 April 10, 2023 Dufferin loan 13,607,000 (1) 3.21 % February 1, 2017 May 31, 2019 Mavis loan 11,469,000 (1) 3.21 % February 1, 2017 May 31, 2019 Brewster loan 7,496,000 (1) 3.21 % February 1, 2017 May 31, 2019 Interest Rate Cap: LIBOR $ 90,000,000 1.25 % July 1, 2017 December 22, 2018 Foreign Currency Forward: Denominated in CAD $ 90,000,000 (1) 1.2846 March 28, 2018 January 28, 2019 (1) Notional amounts shown are denominated in CAD. These swaps were settled on October 11, 2018 in conjunction with the Canadian debt refinancing. See Note 12. On February 1, 2017, to hedge our net investment related to the Toronto Merger, we entered into a foreign currency forward contract with a notional amount of $58.5 million CAD, and a forward rate of approximately 1.3058. During the quarter ended March 31, 2017, we settled our two foreign currency forward contracts which resulted in us receiving a net settlement of approximately $1.4 million, and simultaneously entered into a third foreign currency forward contract with a notional amount of $101 million CAD, and a forward rate of approximately 1.3439. During the quarter ended September 30, 2017, we settled our third foreign currency forward contract, which resulted in us paying a net settlement of approximately $5.5 million, and simultaneously entered into a fourth foreign currency forward contract with a notional amount of $101 million CAD, and a forward rate of approximately 1.2526. The fourth foreign currency forward was settled on March 28, 2018 and resulted in us receiving a net settlement of approximately $2.2 million. We simultaneously entered into our fifth foreign currency forward as noted in the table above. A portion of our gain (loss) from our settled hedges is recorded net in foreign currency forward contract gain (loss) in our consolidated statements of comprehensive loss, and a gain of approximately none and $65,000 related to the ineffective portion is recorded in other income (expense) within our consolidated statements of operations for the three and nine months ended September 30, 2018, respectively. The following table summarizes the terms of our derivative financial instruments as of December 31, 2017: Notional Amount Strike Effective Maturity Interest Rate Swaps: Oakland and Concord loan $ 19,960,190 3.95 % May 18, 2016 April 10, 2023 Dufferin loan 14,025,000 (1) 3.21 % February 1, 2017 May 31, 2019 Mavis loan 11,821,000 (1) 3.21 % February 1, 2017 May 31, 2019 Brewster loan 7,726,000 (1) 3.21 % February 1, 2017 May 31, 2019 Interest Rate Cap: LIBOR $ 90,000,000 1.25 % July 1, 2017 December 22, 2018 Foreign Currency Forward: Denominated in CAD $ 101,000,000 (1) 1.2526 August 31, 2017 March 29, 2018 (1) Notional amount shown is denominated in CAD. The following table presents a gross presentation of the fair value of our derivative financial instruments as well as their classification on our consolidated balance sheets as of September 30, 2018 and December 31, 2017. Asset/Liability Derivatives Fair Value Balance Sheet Location September 30, 2018 December 31, 2017 Interest Rate Swaps Other assets $ 920,928 $ 455,526 Accounts payable and accrued liabilities — 6,320 Interest Rate Cap Other assets 214,853 472,501 Foreign Currency Forward Accounts payable and accrued liabilities — 67,092 Other assets 231,549 —

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Note 7. Related Party Transactions Fees to Affiliates Our Advisory Agreement with our Advisor, our dealer manager agreement, as amended ("Dealer Manager Agreement") with our Dealer Manager, our Property Management Agreement with our Property Manager and our Transfer Agent Agreement with our Transfer Agent entitle such affiliates to specified fees upon the provision of certain services with regard to the Offering and investment of funds in real estate properties, among other services, as well as certain reimbursements, as described below. Advisory Agreement We do not have any employees. Our Advisor is primarily responsible for managing our business affairs and carrying out the directives of our board of directors. Our Advisor receives various fees and expenses under the terms of our Advisory Agreement. Our Advisor receives acquisition fees equal to 1.75% of the contract purchase price of each property we acquire plus reimbursement of any acquisition expenses incurred by our Advisor. Our Advisor also receives a monthly asset management fee equal to 0.05208%, which is one-twelfth of 0.625%, of our aggregate asset value, as defined in the Advisory Agreement. Under our Advisory Agreement, our Advisor receives disposition fees in an amount equal to the lesser of (i) one-half of the competitive real estate commission or (ii) 1% of the contract sale price for each property we sell, as long as our Advisor provides substantial assistance in connection with the sale. The total real estate commissions paid (including the disposition fee paid to our Advisor) may not exceed the lesser of a competitive real estate commission or an amount equal to 6% of the contract sale price of the property. Our Advisor is also entitled to various subordinated distributions pursuant to our Operating Partnership Agreement if we (1) list our shares of common stock on a national exchange, (2) terminate our Advisory Agreement (other than a voluntary termination), (3) liquidate our portfolio, or (4) enter into an Extraordinary Transaction, as defined in the Operating Partnership Agreement. Our Advisory Agreement provides for reimbursement of our Advisor’s direct and indirect costs of providing administrative and management services to us. Pursuant to the Advisory Agreement, our Advisor is obligated to pay or reimburse us the amount by which our aggregate annual operating expenses, as defined, exceed the greater of 2% of our average invested assets or 25% of our net income, as defined, unless a majority of our independent directors determine that such excess expenses were justified based on unusual and non-recurring factors. For any fiscal quarter for which total operating expenses for the 12 months then ended exceed the limitation, we will disclose this fact in our next quarterly report or within 60 days of the end of that quarter and send a written disclosure of this fact to our stockholders. In each case the disclosure will include an explanation of the factors that the independent directors considered in arriving at the conclusion that the excess expenses were justified. Our aggregate annual operating expenses, as defined, did not exceed the thresholds described above. Dealer Manager Agreement In connection with our Primary Offering, our Dealer Manager received a sales commission of up to 7.0% of gross proceeds from sales of Class A Shares and up to 2.0% of gross proceeds from the sales of Class T Shares in the Primary Offering and a dealer manager fee up to 3.0% of gross proceeds from sales of both Class A Shares and Class T Shares in the Primary Offering under the terms of the Dealer Manager Agreement. In addition, our Dealer Manager receives an ongoing stockholder servicing fee that is payable monthly and accrues daily in an amount equal to 1/365th of 1% of the purchase price per share of the Class T Shares sold in the Primary Offering. We will cease paying the stockholder servicing fee with respect to the Class T Shares sold in the Primary Offering at the earlier of (i) the date we list our shares on a national securities exchange, merge or consolidate with or into another entity, or sell or dispose of all or substantially all of our assets, (ii) the date at which the aggregate underwriting compensation from all sources equals 10% of the gross proceeds from the sale of both Class A Shares and Class T Shares in our Primary Offering (i.e., excluding proceeds from sales pursuant to our distribution reinvestment plan), which calculation shall be made by us with the assistance of our Dealer Manager commencing after the termination of the Primary Offering; (iii) the fifth anniversary of the last day of the fiscal quarter in which our Primary Offering (i.e., excluding our distribution reinvestment plan offering) terminated; and (iv) the date that such Class T Share is redeemed or is no longer outstanding. Our Dealer Manager entered into participating dealer agreements with certain other broker-dealers which authorized them to sell our shares. Upon sale of our shares by such broker-dealers, our Dealer Manager re-allowed all of the sales commissions and, subject to certain limitations, the stockholder servicing fees paid in connection with sales made by these broker-dealers. Our Dealer Manager could also re-allow to these broker-dealers a portion of their dealer manager fee as marketing fees, reimbursement of certain costs and expenses of attending training and education meetings sponsored by our Dealer Manager, payment of attendance fees required for employees of our Dealer Manager or other affiliates to attend retail seminars and public seminars sponsored by these broker-dealers, or to defray other distribution-related expenses. Our Dealer Manager also received reimbursement of bona fide due diligence expenses; however, to the extent these due diligence expenses could not be justified, any excess over actual due diligence expenses would have been considered underwriting compensation subject to a 10% FINRA limitation and, when aggregated with all other non-accountable expenses in connection with our Offering, could not exceed 3% of gross offering proceeds from sales in the Offering. Affiliated Dealer Manager Our Sponsor owns a 15% non-voting equity interest in our Dealer Manager. Affiliates of our Dealer Manager own a 2.5% non-voting membership interest in our Advisor. Transfer Agent Agreement Our Sponsor is the owner and manager of our Transfer Agent, which is a registered transfer agent with the SEC. Effective in June 2018, our Transfer Agent provides transfer agent and registrar services to our stockholders. These services include, among other things, processing payment of any sales commission and dealer manager fees associated with a particular purchase, as well as processing the distributions and any servicing fees with respect to our shares. Additionally, our Transfer Agent may retain and supervise third party vendors in its efforts to administer certain services. We believe that our Transfer Agent, through its knowledge and understanding of the direct participation program industry which includes non-traded REITs, is particularly suited to provide us with transfer agent and registrar services. Our Transfer Agent also conducts transfer agent and registrar services for other non-traded REITs sponsored by our Sponsor. It is the duty of our board of directors to evaluate the performance of our Transfer Agent. In connection with the engagement of our Transfer Agent, we paid a one-time initial setup fee of $50,000. In addition, the other fees to be paid to our Transfer Agent are based on a fixed quarterly fee, one-time account setup fees and monthly open account fees. In addition, we will reimburse our Transfer Agent for all reasonable expenses or other changes incurred by it in connection with the provision of its services to us, and we will pay our Transfer Agent fees for any additional services we may request from time to time, in accordance with its rates then in effect. Upon the request of our Transfer Agent, we may also advance payment for substantial reasonable out-of-pocket expenditures to be incurred by it. The initial term of the transfer agent agreement is three years, which term will be automatically renewed for one year successive terms, but either party may terminate the transfer agent agreement upon 90 days’ prior written notice. In the event that we terminate the transfer agent agreement, other than for cause, we will pay our transfer agent all amounts that would have otherwise accrued during the remaining term of the transfer agent agreement; provided, however, that when calculating the remaining months in the term for such purposes, such term is deemed to be a 12 month period starting from the date of the most recent annual anniversary date. Property Management Agreement Since inception, our Property Manager has served as the property manager for each of our properties pursuant to separate property management agreements. From October 1, 2015 through September 30, 2017, our Property Manager contracted with Extra Space for Extra Space to serve as the sub-property manager for each of our properties located in the United States pursuant to separate sub-property management agreements for each property. Effective October 1, 2017, our Property Manager terminated its sub-property management agreements with Extra Space. Our Property Manager now manages all of our properties directly. In connection with these terminations, each property management agreement that was subject to a sub-property management agreement with Extra Space was amended and, where applicable, we paid Extra Space a termination fee, as described below. Prior Arrangement Under the property management agreements in effect from October 1, 2015 through September 30, 2017 for our properties located in the United States, our Property Manager received a monthly management fee for each property equal to the greater of $2,500 or 6% of the gross revenues, plus reimbursement of our Property Manager’s costs of managing the properties. In addition, Extra Space agreed to pay up to $25,000 per property toward the signage and set-up costs associated with converting such property to the Extra Space brand (the “Set-Up Amount”). The property management agreements had a three year term and automatically renewed for successive one year periods thereafter, unless we or our Property Manager provided prior written notice at least 90 days prior to the expiration of the term. In general, if we terminated a property management agreement without cause during the initial three year term, we would have been required to pay our Property Manager a termination fee equal to the Set-Up Amount, reduced by 1/36th of the Set-Up Amount for every full month of the term that had elapsed. After the end of the initial three year term, we could have terminated a property management agreement on 30 days prior written notice without payment of a termination fee. Our Property Manager could have terminated a property management agreement on 60 days prior written notice to us. The sub-property management agreements between our Property Manager and Extra Space were substantially the same as the foregoing property management agreements. Under the sub-property management agreements, our Property Manager paid Extra Space a monthly management fee for each property equal to the greater of $2,500 or 6% of the gross revenues, plus reimbursement of Extra Space’s costs of managing the properties; provided, however that no management fee was due and payable to Extra Space for the months of January and July each year during the term. Extra Space had the exclusive right to offer tenant insurance to the tenants and was entitled to all of the benefits of such tenant insurance. The sub-property management agreements also had a three year term and automatically renewed for successive one year periods thereafter, unless our Property Manager or Extra Space provided prior written notice at least 90 days prior to the expiration of the term. In general, if our Property Manager terminated a sub-property management agreement without cause during the initial three year term, it would have been required to pay Extra Space a termination fee equal to the Set-Up Amount, reduced by 1/36th of the Set-Up Amount for every full month of the term that had elapsed. After the end of the initial three year term, our Property Manager could have terminated a sub-property management agreement on 30 days prior written notice without payment of a termination fee. Extra Space could have terminated a sub-property management agreement on 60 days prior written notice to our Property Manager. Termination of Sub-property Manager As of October 1, 2017, our Property Manager terminated each sub-property management agreement with Extra Space, and we amended each of our corresponding property management agreements as described below. To the extent a termination fee would have been owed by any of our property-owning subsidiaries had its corresponding property management agreement with our Property Manager been terminated, each such property-owning subsidiary agreed to pay the termination fee owed by our Property Manager in accordance with its termination of the sub-property management agreements. The aggregate costs incurred in connection with the property management changes were approximately $0.8 million. This amount was included in property operating expenses – affiliates in the consolidated statements of operations for the year ended December 31, 2017. Property Management Subsequent to September 30, 2017 In connection with the termination of each sub-property management agreement, each corresponding property management agreement was amended effective as of October 1, 2017. Pursuant to the amended property management agreements, our Property Manager receives: (i) a monthly management fee for each property equal to the greater of $3,000 or 6% of the gross revenues from the properties plus reimbursement of the Property Manager’s costs of managing the properties and (ii) a construction management fee equal to 5% of the cost of construction or capital improvement work in excess of $10,000. In addition, we have agreed with our Property Manager or an affiliate to share equally in the net revenue attributable to the sale of tenant insurance at our properties. The property management agreements have a three year term and automatically renew for successive three year periods thereafter, unless we or our Property Manager provide prior written notice at least 90 days prior to the expiration of the term. After the end of the initial three year term, either party may terminate a property management agreement generally upon 60 days prior written notice. With respect to each new property we acquire for which we enter into a property management agreement with our Property Manager we will also pay our Property Manager a one-time start-up fee in the amount of $3,750. In connection with the change in our property management operations, each of our stores in the United States were rebranded under the “SmartStop® Self Storage” brand. Our self storage properties located in Canada are subject to separate property management agreements with our Property Manager on terms substantially the same as the amended property management agreements described above. Pursuant to the terms of the agreements described above, the following table summarizes related party costs incurred and paid by us for the year ended December 31, 2017 and the nine months ended September 30, 2018, as well as any related amounts payable as of December 31, 2017 and September 30, 2018: Year Ended December 31, 2017 Nine Months Ended September 30, Incurred Paid Payable Incurred Paid Payable Expensed Operating expenses (including organizational costs) $ 1,090,366 $ 751,010 $ 345,864 $ 1,678,975 $ 1,558,164 $ 466,675 Transfer Agent fees — — — 197,182 189,607 7,575 Asset management fees 5,346,280 5,346,280 — 4,085,859 4,001,045 84,814 Property management fees ( 1) 5,285,082 5,285,082 — 3,601,324 3,510,257 91,067 Acquisition expenses 212,577 212,577 — 42,642 42,642 — Capitalized Acquisition costs — — — 48,664 48,664 — Additional Paid-in Capital Selling commissions 966,516 966,516 — — — — Dealer Manager fee 353,167 513,881 — — — — Stockholder servicing fee ( 2) 299,299 690,272 2,620,040 — 507,910 2,112,130 Offering costs 33,466 33,466 — — — — Total $ 13,586,753 $ 13,799,084 $ 2,965,904 $ 9,654,646 $ 9,858,289 $ 2,762,261 (1) During the nine months ended September 30, 2018 and year ended December 31, 2017, property management fees included $0 and approximately $3.2 million, respectively, of fees paid to the sub-property manager of our properties. This includes the costs incurred related to the change in property management of approximately $0.8 million during 2017. (2) We pay our Dealer Manager an ongoing stockholder servicing fee that is payable monthly and accrues daily in an amount equal to 1/365 th Extra Space Self Storage In connection with the Extra Space Merger of SmartStop Self Storage, Inc. into Extra Space, certain of our executive officers, including H. Michael Schwartz, Paula Mathews, Michael McClure and James Berg, received units of limited partnership interest in Extra Space Storage LP, the operating partnership for Extra Space, in exchange for units of limited partnership of SmartStop Self Storage Operating Partnership, L.P., the operating partnership for SmartStop, owned by such executives. Tenant Insurance We offer a tenant insurance plan to customers at our properties. In connection with the property management agreement amendments effective as of October 1, 2017, we agreed with our Property Manager or an affiliate to share equally in the net revenue attributable to the sale of tenant insurance at our properties. To facilitate such revenue sharing, we and an affiliate of our Property Manager agreed to transfer our respective rights in such tenant insurance revenue to a newly created joint venture in March of 2018, Strategic Storage TI Services II JV, LLC (the “TI Joint Venture”), a Delaware limited liability company owned 50% by our TRS subsidiary and 50% by our Property Manager’s affiliate SmartStop TI II, LLC (“SS TI II”). Under the terms of the TI Joint Venture agreement, the TRS receives 50% of the net economics generated from such tenant insurance and SS TI II receives the other 50% of such net economics. The TI Joint Venture further provides, among other things, that if a member or its affiliate terminates all or substantially all of the property management agreements or defaults in its material obligations under the agreement or undergoes a change of control, as defined, (the “Triggering Member”), the other member generally shall have the right (but not the obligation) to either (i) sell its 50% interest in the TI Joint Venture to the Triggering Member at fair market value (as agreed upon or as determined under an appraisal process) or (ii) purchase the Triggering Member’s 50% interest in the TI Joint Venture at 95% of fair market value. For the three and nine months ended September 30, 2018 we recorded revenues of approximately $0.4 million and $1.1 million, respectively, related to tenant insurance which was included in ancillary operating revenue in the consolidated statements of operations. Storage Auction Program Our Sponsor owns a minority interest in a company that owns 50% of an online auction company (the “Auction Company”) that serves as a web portal for self storage companies to post their auctions for the contents of abandoned storage units online instead of using live auctions conducted at the self storage facilities. The Auction Company receives a service fee for such services. Through December 31, 2017, neither our Property Manager nor our sub-property manager utilized the Auction Company at our properties. During the three and nine months ended September 30, 2018, we paid approximately $15,000 and $30,000, respectively, in fees to the Auction Company related to our properties. Our properties receive the proceeds from such online auctions Toronto Merger On February 1, 2017, we entered into a definitive Agreement and Plan of Merger (the “Toronto Merger Agreement”) pursuant to which SST II Toronto Acquisition, LLC, a wholly owned and newly formed subsidiary of our Operating Partnership, merged (the “Toronto Merger”) with and into SS Toronto, a subsidiary of our Sponsor, with SS Toronto surviving the Toronto Merger and becoming a wholly owned subsidiary of our Operating Partnership. In connection with the Toronto Merger, we acquired five self storage properties located in the Greater Toronto Areas of North York, Mississauga, Brampton, Pickering and Scarborough (the “SS Toronto Properties”). Each property is operated under the “SmartStop” brand. At the effective time of the Toronto Merger, each share of common stock, $0.001 par value per share, of SS Toronto issued and outstanding was automatically converted into the right to receive $11.0651 USD in cash and 0.7311 Class A Units of our Operating Partnership. We paid an aggregate of approximately $7.3 million USD in cash consideration and issued an aggregate of approximately 483,197 Class A Units of our Operating Partnership to the common stockholders of SS Toronto, consisting of Strategic 1031 and SS Toronto REIT Advisors, Inc., affiliates of our Sponsor. We acquired the SS Toronto Properties subject to approximately $50.1 million CAD (approximately $38.4 million USD) in outstanding debt (as described further below), approximately $0.8 million in other net liabilities, and paid approximately $33.1 million USD to an affiliate of Extra Space as repayment of outstanding debt and accrued interest owed by SS Toronto. No acquisition fee was paid to our Advisor for the Toronto Merger. The terms of the Toronto Merger and the execution of the Toronto Merger Agreement were recommended by a special committee (the “Special Committee”) of our board of directors consisting of the Nominating and Corporate Governance Committee, the members of which were all of our independent directors. The Special Committee, with the assistance of its independent financial advisor and independent legal counsel, approved the transaction and determined that the Toronto Merger and the other transactions contemplated by the Toronto Merger Agreement were advisable and in the best interests of us, were fair and reasonable to us and were on terms and conditions not less favorable to us than those available from unaffiliated third parties. In connection with the Toronto Merger, we entered into guarantees, dated as of February 1, 2017 (the “Guarantees”), under which we agreed to guarantee certain obligations of SS Toronto. The SS Toronto loans consist of (i) term loans totaling approximately $34.8 million CAD pursuant to promissory notes executed by SS Toronto in favor of Bank of Montreal on June 3, 2016, and (ii) mortgage financings in the aggregate amount of up to $17.7 million CAD pursuant to two promissory notes executed by subsidiaries of SS Toronto in favor of DUCA Financial Services Credit Union Ltd. on June 3, 2016.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8. Commitments and Contingencies Distribution Reinvestment Plan We have adopted an amended and restated distribution reinvestment plan that allows both our Class A and Class T stockholders to have distributions otherwise distributable to them invested in additional shares of our Class A and Class T Shares, respectively. The purchase price per share pursuant to our distribution reinvestment plan is equivalent to the estimated value per share approved by our board of directors and in effect on the date of purchase of shares under the plan. In conjunction with the board of directors’ declaration of a new estimated value per share of our common stock on April 19, 2018, beginning in May 2018, shares sold pursuant to our distribution reinvestment plan are sold at the new estimated value per share of $10.65 per Class A Share and Class T Share. On November 30, 2016, we filed with the SEC a Registration Statement on Form S-3, which registered up to an additional $100.9 million in shares under our distribution reinvestment plan (our “DRP Offering”). We may amend or terminate the amended and restated distribution reinvestment plan for any reason at any time upon 10 days’ prior written notice to stockholders. No sales commissions, dealer manager fee, or stockholder servicing fee will be paid on shares sold through the amended and restated distribution reinvestment plan. Through the termination of our Offering on January 9, 2017, we had sold approximately 1.1 million Class A shares and 0.1 million Class T Shares through our original distribution reinvestment plan. As of September 30, 2018, we had sold approximately 2.4 million Class A Shares and approximately 0.4 million Class T Shares through our DRP Offering. Share Redemption Program We adopted a share redemption program that enables stockholders to sell their shares to us in limited circumstances. As long as our common stock is not listed on a national securities exchange or over-the-counter market, our stockholders who have held their stock for at least one year may be able to have all or any portion of their shares of stock redeemed by us. We may redeem the shares of stock presented for redemption for cash to the extent that we have sufficient funds available to fund such redemption. Our board of directors may amend, suspend or terminate the share redemption program with 30 days’ notice to our stockholders. We may provide this notice by including such information in a Current Report on Form 8-K or in our annual or quarterly reports, all publicly filed with the SEC, or by a separate mailing to our stockholders. The complete terms of our share redemption program are described in our prospectus. The amount that we may pay to redeem stock for redemptions is the redemption price set forth in the following table which is based upon the number of years the stock is held: Number Years Held Redemption Price Less than 1 No Redemption Allowed 1 or more but less than 3 90.0% of Redemption Amount 3 or more but less than 4 95.0% of Redemption Amount 4 or more 100.0% of Redemption Amount At any time we are engaged in an offering of shares, the Redemption Amount for shares purchased under our share redemption program will always be equal to or lower than the applicable per share offering price. As long as we are engaged in an offering, the Redemption Amount shall be the lesser of the amount the stockholder paid for their shares or the price per share in the current offering. If we are no longer engaged in an offering, our board of directors will announce any redemption price adjustment and the time period of its effectiveness as a part of its regular communications with our stockholders. At any time the redemption price during an offering is determined by any method other than the offering price, if we have sold property and have made one or more special distributions to our stockholders of all or a portion of the net proceeds from such sales, the per share redemption price will be reduced by the net sale proceeds per share distributed to investors prior to the redemption date as a result of the sale of such property in the special distribution. Our board of directors will, in its sole discretion, determine which distributions, if any, constitute a special distribution. While our board of directors does not have specific criteria for determining a special distribution, we expect that a special distribution will only occur upon the sale of a property and the subsequent distribution of the net sale proceeds. There are several limitations on our ability to redeem shares under the share redemption program including, but not limited to: • Unless the shares are being redeemed in connection with a stockholder’s death, “qualifying disability” (as defined under the share redemption program) or bankruptcy, we may not redeem shares until the stockholder has held his or her shares for one year. • During any calendar year, we will not redeem in excess of 5% of the weighted-average number of shares outstanding during the prior calendar year. • The cash available for redemption is limited to the proceeds from the sale of shares pursuant to our distribution reinvestment plan, less any prior redemptions. • We have no obligation to redeem shares if the redemption would violate the restrictions on distributions under Maryland law, which prohibits distributions that would cause a corporation to fail to meet statutory tests of solvency. For the year ended December 31, 2017, we received redemption requests totaling approximately $2.2 million (approximately 0.2 million shares), approximately $1.5 million of which were fulfilled during the year ended December 31, 2017, with the remaining approximately $0.7 million included in accounts payable and accrued liabilities as of December 31, 2017 and fulfilled in January 2018. For the nine months ended September 30, 2018, we received redemption requests totaling approximately $7.0 million (approximately 0.7 million shares), $2.3 million of which were fulfilled in April and July 2018, and $4.6 million of which were included in accounts payable and accrued liabilities as of September 30, 2018 and fulfilled in October 2018. Operating Partnership Redemption Rights The limited partners of our Operating Partnership have the right to cause our Operating Partnership to redeem their limited partnership units for cash equal to the value of an equivalent number of our shares, or, at our option, we may purchase their limited partnership units by issuing one share of our common stock for each limited partnership unit redeemed. These rights may not be exercised under certain circumstances that could cause us to lose our REIT election. Furthermore, limited partners may exercise their redemption rights only after their limited partnership units have been outstanding for one year. Our Advisor is prohibited from exchanging or otherwise transferring its limited partnership units so long as our Advisor is acting as our advisor under the Advisory Agreement. Other Contingencies From time to time, we are party to legal proceedings that arise in the ordinary course of our business. We are not aware of any legal proceedings of which the outcome is reasonably likely to have a material adverse effect on our results of operations or financial condition, nor are we aware of any such legal proceedings contemplated by governmental authorities.

Declaration of Distributions

Declaration of Distributions	9 Months Ended
	Sep. 30, 2018
Dividends [Abstract]
Declaration of Distributions	Note 9. Declaration of Distributions On September 20, 2018, our board of directors declared a distribution rate for the fourth quarter of 2018 of approximately $0.001644 per day per share on the outstanding shares of common stock payable to both Class A and Class T stockholders of record of such shares as shown on our books at the close of business on each day during the period, commencing on October 1, 2018 and continuing on each day thereafter through and including December 31, 2018. In connection with this distribution, after the stockholder servicing fee is paid, approximately $0.0014 per day will be paid per Class T share. Such distributions payable to each stockholder of record during a month will be paid the following month.

Selected Quarterly Data

Selected Quarterly Data	9 Months Ended
	Sep. 30, 2018
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Data	Note 10. Selected Quarterly Data The following is a summary of quarterly financial information for the periods shown below: Three months ended September 30, 2017 December 31, 2017 March 31, 2018 June 30, 2018 September 30, 2018 Total revenues $ 19,939,512 $ 19,385,071 $ 19,866,457 $ 20,045,516 $ 20,313,069 Total operating expenses $ 19,197,777 $ 16,991,318 $ 16,010,116 $ 16,605,713 $ 15,836,436 Operating income $ 741,735 $ 2,393,753 $ 3,856,341 $ 3,439,803 $ 4,476,633 Net loss $ (3,875,164 ) $ (2,351,155 ) $ (667,047 ) $ (1,437,330 ) $ (457,278 ) Net loss attributable to common stockholders $ (3,840,775 ) $ (2,329,515 ) $ (661,203 ) $ (1,427,056 ) $ (451,424 ) Net loss per Class A Share-basic and diluted $ (0.07 ) $ (0.04 ) $ (0.01 ) $ (0.02 ) $ (0.01 ) Net loss per Class T Share-basic and diluted $ (0.07 ) $ (0.04 ) $ (0.01 ) $ (0.02 ) $ (0.01 )

Potential Merger

Potential Merger	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Potential Merger	Note 11. Potential Merger On October 1, 2018, we, our Operating Partnership, Merger Sub, SSGT, and SSGT OP entered into the Merger Agreement in connection with the Mergers. Subject to SSGT’s rights in connection with the go-shop provision described in further detail below, and pursuant to the terms and subject to the conditions set forth in the Merger Agreement, at the effective time of the REIT Merger (the “REIT Merger Effective Time”), each share of SSGT common stock outstanding immediately prior to the REIT Merger Effective Time (other than shares owned by SSGT and its subsidiaries or us and our subsidiaries) will be automatically converted into the right to receive an amount in cash equal to $12.00, without interest and less any applicable withholding taxes (the “Merger Consideration”), which represents a total purchase price of approximately $340 million (which includes outstanding debt to be assumed or repaid Assuming all of the conditions to the Mergers are satisfied and the Mergers are consummated in accordance with the terms in the Merger Agreement, we will acquire all of the real estate owned by SSGT, consisting of 28 self storage facilities located in 10 states and in the Greater Toronto, Canada area, and comprising approximately 19,300 self storage units and approximately 2.1 million net rentable square feet of storage space. Additionally, we will obtain the rights to acquire two self storage facilities currently under contract with SSGT. The Merger Agreement contains customary representations, warranties and covenants. The closing of the REIT Merger is subject to the approval of the REIT Merger by the affirmative vote of the holders of a majority of all outstanding shares of SSGT’s common stock as of the record date for the special meeting of SSGT’s stockholders. The closing of the Mergers is also subject to various customary conditions. The closing of the REIT Merger is neither subject to a financing condition nor to the approval of our stockholders. The Merger Agreement prohibits SSGT and its subsidiaries and representatives from soliciting, providing information or entering into discussions concerning proposals relating to alternative business combination transactions, subject to certain limited exceptions. However, under the terms of the Merger Agreement, during the period beginning on the date of the Merger Agreement and continuing until 11:59 p.m. New York City time on November 15, 2018 (the “Go Shop Period End Time”), SSGT (through the special committee of SSGT’s board of directors and its representatives) may initiate, solicit, provide information and enter into discussions concerning proposals relating to alternative business combination transactions. For up to five business days after the Go Shop Period End Time, SSGT may continue to participate in such discussions with a Go Shop Bidder (as defined in the Merger Agreement) and may, subject to certain conditions set forth in the Merger Agreement regarding the proposal made by such Go Shop Bidder, terminate the Merger Agreement and enter into an agreement with a Go Shop Bidder with respect to the proposal made by such Go Shop Bidder. The Merger Agreement also provides that, at any time beginning on the sixth business day after the Go Shop Period End Time and prior to receipt of the approval of SSGT’s stockholders, SSGT’s board of directors may, in certain circumstances, make an Adverse Recommendation Change (as such term is defined in the Merger Agreement) and terminate the Merger Agreement, subject to complying with certain conditions set forth in the Merger Agreement. In connection with the termination of the Merger Agreement and SSGT’s entry into an alternative transaction with respect to a superior proposal, as well as under other specified circumstances, SSGT will be required to pay us a termination fee of $2.9 million in the event of termination on or prior to the fifth business day following the Go Shop Period End Time, or $9.6 million in the event of termination thereafter. In addition, the Merger Agreement provides for customary expense reimbursement under specified circumstances set forth in the Merger Agreement. The Merger Agreement also provides that we will be required to pay SSGT a reverse termination fee of $9.6 million under specified circumstances set forth in the Merger Agreement related to our failure to consummate the Closing. We expect the SSGT stockholders meeting to occur in the first quarter of 2019 and, if the REIT Merger is approved by the SSGT stockholders, we expect the Mergers to close shortly thereafter. However, there is no guarantee that the Mergers will be consummated.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	Note 12. Subsequent Events Distribution Reinvestment Plan Offering As of November 12, 2018, we have issued approximately 2.5 million Class A shares of our common stock and approximately 0.4 million Class T Shares of our common stock for gross proceeds of approximately $25.5 million and approximately $3.9 million, pursuant to our DRP Offering. Canadian Debt Refinancing On October 11, 2018, we, through 10 special purpose entities owned by our Operating Partnership, entered into a loan agreement (the “Canadian Citibank Loan Agreement”) with Citibank, N.A. (“Citibank”), as lender. Under the terms of the Canadian Citibank Loan Agreement, we have a maximum borrowing capacity of $112 million CAD, of which we immediately borrowed $99.3 million CAD (the “Initial Proceeds”). The Initial Proceeds were primarily used to pay off all of the existing loans encumbering our properties located in the greater Toronto, Canada metropolitan area, all of which now serve as collateral under the Canadian Citibank Loan Agreement. We also have the right to receive future advances in the aggregate amount of up to $12.7 million CAD, subject to certain conditions as set forth in the loan agreement. The Canadian Citibank Loan Agreement is a term loan that has a maturity date of October 9, 2020, which may, in certain circumstances, be extended at our option for three consecutive terms of one year each. Monthly payments are interest-only, with the full principal amount becoming due and payable on the maturity date. In general, the amounts outstanding bear interest at a rate equal to the sum of the “CDOR” (as defined in the Loan Agreement) and 2.25%. As of October 11, 2018, the interest rate was approximately 4.1%. In addition, pursuant to the requirements of the Canadian Citibank Loan Agreement, the Borrower purchased an interest rate cap with a notional amount of $99.3 million, with an effective date of October 11, 2018, whereby the CDOR is capped at 3.00% through October 15, 2021. Extension of Amended KeyBank Credit Facility On October 29, 2018, we amended our Amended KeyBank Credit Facility to extend the maturity date from December 22, 2018 to February 20, 2019 in order to facilitate financing for the potential merger with SSGT. Pursuant to this amendm

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC.
Principles of Consolidation	Principles of Consolidation Our financial statements, and the financial statements of our Operating Partnership, including its wholly-owned subsidiaries, are consolidated in the accompanying consolidated financial statements. The portion of these entities not wholly-owned by us is presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated in consolidation.
Consolidation Considerations	Consolidation Considerations Current accounting guidance provides a framework for identifying a variable interest entity (“VIE”) and determining when a company should include the assets, liabilities, noncontrolling interests, and results of activities of a VIE in its consolidated financial statements. In general, a VIE is an entity or other legal structure used to conduct activities or hold assets that either (1) has an insufficient amount of equity to carry out its principal activities without additional subordinated financial support, (2) has a group of equity owners that are unable to make significant decisions about its activities, or (3) has a group of equity owners that do not have the obligation to absorb losses or the right to receive returns generated by its operations. Generally, a VIE should be consolidated if a party with an ownership, contractual, or other financial interest in the VIE (a variable interest holder) has the power to direct the VIE’s most significant activities and the obligation to absorb losses or right to receive benefits of the VIE that could be significant to the VIE. A variable interest holder that consolidates the VIE is called the primary beneficiary. Upon consolidation, the primary beneficiary generally must initially record all of the VIE’s assets, liabilities, and noncontrolling interest at fair value and subsequently account for the VIE as if it were consolidated based on majority voting interest. Our Operating Partnership is deemed to be a VIE and is consolidated by the Company as the primary beneficiary. As of December 31, 2017, we had not entered into any other contracts/interests that would be deemed to be variable interests in VIEs other than our Operating Partnership. As of September 30, 2018, we had not entered into any other contracts/interest that would be deemed to be variable interest in VIEs other than our tenant insurance joint venture and a real estate joint venture, both of which are accounted for under the equity method of accounting. Please see Note 3 – Real Estate Facilities for further discussion regarding our joint venture with SmartCentres and Note 7 – Related Party Transactions for further discussions regarding our tenant insurance joint venture. Other than these joint ventures, we do not currently have any relationships with unconsolidated entities or financial partnerships. Under the equity method, our investments in real estate joint ventures will be stated at cost and adjusted for our share of net earnings or losses and reduced by distributions. Equity in earnings of real estate joint ventures will generally be recognized based on our ownership interest in the earnings of each of the unconsolidated real estate joint ventures.
Noncontrolling Interest in Consolidated Entities	Noncontrolling Interest in Consolidated Entities We account for the noncontrolling interest in our Operating Partnership in accordance with the related accounting guidance. Due to our control through our general partnership interest in our Operating Partnership and the limited rights of the limited partner, our Operating Partnership, including its wholly-owned subsidiaries, are consolidated with the Company and the limited partner interest is reflected as a noncontrolling interest in the accompanying consolidated balance sheets. The noncontrolling interest shall be attributed its share of income and losses, even if that attribution results in a deficit noncontrolling interest balance.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions. Management will adjust such estimates when facts and circumstances dictate. Actual results could materially differ from those estimates. The most significant estimates made include the allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed at relative fair value, the determination if certain entities should be consolidated, the evaluation of potential impairment of long-lived assets, and the estimated useful lives of real estate assets and intangibles.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all short-term, highly liquid investments that are readily convertible to cash with a maturity of three months or less at the time of purchase to be cash equivalents. We may maintain cash and cash equivalents in financial institutions in excess of insured limits, but believe this risk will be mitigated by only investing in or through major financial institutions.
Restricted Cash	Restricted Cash Restricted cash consists primarily of impound reserve accounts for property taxes, insurance and capital improvements in connection with the requirements of certain of our loan agreements.
Real Estate Purchase Price Allocation	Real Estate Purchase Price Allocation We account for acquisitions in accordance with GAAP which requires that we allocate the purchase price of a property to the tangible and intangible assets acquired and the liabilities assumed based on their relative fair values. This guidance requires us to make significant estimates and assumptions, including fair value estimates, which requires the use of significant unobservable inputs as of the acquisition date. The value of the tangible assets, consisting of land and buildings is determined as if vacant . Substantially all of the leases in place at acquired properties are at market rates, as the majority of the leases are month-to-month contracts. We also consider whether in-place, market leases represent an intangible asset. We recorded $0 and approximately $4.4 million in intangible assets to recognize the value of in-place leases related to our acquisitions during the nine months ended September 30, 2018 and the year ended December 31, 2017, respectively. We do not expect, nor to date have we recorded, intangible assets for the value of customer relationships because we expect we will not have concentrations of significant customers and the average customer turnover will be fairly frequent. Allocation of purchase price to acquisitions of portfolios of facilities are allocated to the individual facilities based upon an income approach or a cash flow analysis using appropriate risk adjusted capitalization rates which take into account the relative size, age, and location of the individual facility along with current and projected occupancy and rental rate levels or appraised values, if available. In January 2017, the FASB issued Accounting Standards Update 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business” (“ASU 2017-01”). ASU 2017-01 clarifies the framework for determining whether an integrated set of assets and activities meets the definition of a business. The revised framework provides guidance for determining whether an integrated set of assets and activities is a business and narrows the definition of a business, which is expected to result in fewer transactions being accounted for as business combinations. Acquisitions of integrated sets of assets and activities that do not meet the definition of a business are accounted for as asset acquisitions. We adopted this ASU on January 1, 2018. We expect that acquisitions of real estate or in-substance real estate will not meet the revised definition of a business because substantially all of the fair value is concentrated in a single identifiable asset or group of similar identifiable assets (i.e. land, buildings, and related intangible assets) or because the acquisition does not include a substantive process in the form of an acquired workforce or an acquired contract that cannot be replaced without significant cost, effort or delay. As a result, once an acquisition is deemed probable, transaction costs are capitalized rather than expensed. We have yet to acquire any properties that require capitalization of acquisition related transaction costs that would have previously been expensed under the guidance in effect prior to January 1, 2018. During the three months ended September 30, 2018 and 2017, we expensed approximately $0.6 million and none, respectively, of acquisition-related transaction costs that did not meet our capitalization policy during the respective periods. During the nine months ended September 30, 2018 and 2017, we expensed approximately $0.9 million and $0.5 million, respectively, of acquisition-related transaction costs that did not meet our capitalization policy during the respective periods.
Evaluation of Possible Impairment of Long-Lived Assets	Evaluation of Possible Impairment of Long-Lived Assets Management monitors events and changes in circumstances that could indicate that the carrying amounts of our long-lived assets may not be recoverable. When indicators of potential impairment are present that indicate that the carrying amounts of the assets may not be recoverable, we will assess the recoverability of the assets by determining whether the carrying value of the long-lived assets will be recovered through the undiscounted future operating cash flows expected from the use of the asset and its eventual disposition. In the event that such expected undiscounted future cash flows do not exceed the carrying value, we will adjust the value of the long-lived assets to the fair value and recognize an impairment loss. For the three and nine months ended September 30, 2018 and 2017, no impairment losses were recognized.
Revenue Recognition	Revenue Recognition Management believes that all of our leases are operating leases. Rental income is recognized in accordance with the terms of the leases, which generally are month-to-month. Revenues from any long-term operating leases are recognized on a straight-line basis over the term of the lease. The excess of rents received over amounts contractually due pursuant to the underlying leases is included in accounts payable and accrued liabilities in our consolidated balance sheets and contractually due but unpaid rent is included in other assets.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts Tenant accounts receivable is reported net of an allowance for doubtful accounts. Management’s estimate of the allowance is based upon a review of the current status of tenant accounts receivable. It is reasonably possible that management’s estimate of the allowance will change in the future.
Real Estate Facilities	Real Estate Facilities Real estate facilities are recorded based on relative fair value as of the date of acquisition. We capitalize costs incurred to develop, construct, renovate and improve properties, including interest and property taxes incurred during the construction period. 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.
Depreciation of Real Property Assets	Depreciation of Real Property Assets Our management is required to make subjective assessments as to the useful lives of our depreciable assets. We consider the period of future benefit of the asset to determine the appropriate useful lives. Depreciation of our real property assets is charged to expense on a straight-line basis over the estimated useful lives Description Standard Depreciable Life Land Not Depreciated Buildings 30-35 years Site Improvements 7-10 years
Depreciation of Personal Property Assets	Depreciation of Personal Property Assets Personal property assets consist primarily of furniture, fixtures and equipment and are depreciated on a straight-line basis over the estimated useful lives generally ranging from 3 to 5 years, and are included in other assets on our consolidated balance sheets.
Intangible Assets	Intangible Assets We have allocated a portion of our real estate purchase price to in-place lease intangibles. We are amortizing in-place lease intangibles on a straight-line basis over the estimated future benefit period. As of September 30, 2018, the gross amounts allocated to in-place lease intangibles was approximately $34 million and accumulated amortization of in-place lease intangibles totaled approximately $32 million. As of December 31, 2017, the gross amounts allocated to in-place lease intangibles was approximately $34 million and accumulated amortization of in-place lease intangibles totaled approximately $30 million. The total estimated future amortization expense of intangible assets for the years ending December 31, 2018, 2019, 2020, 2021, 2022, and thereafter is approximately $25,000, $0.1 million, $0.1 million, $0.1 million, $0.1 million, and $1.2 million respectively.
Debt Issuance Costs	Debt Issuance Costs The net carrying value of costs incurred in connection with our revolving credit facility are presented as debt issuance costs on our consolidated balance sheets. Debt issuance costs are amortized on a straight-line basis over the term of the related loan, which is not materially different than the effective interest method. As of September 30, 2018 and December 31, 2017, accumulated amortization of debt issuance costs related to our revolving credit facility totaled approximately $2.1 million and $1.5 million, respectively. The net carrying value of costs incurred in connection with obtaining non revolving debt are presented on the balance sheet as a deduction from debt (see Note 5). Debt issuance costs are amortized on a straight-line basis over the term of the related loan, which is not materially different than the effective interest method. As of September 30, 2018 and December 31, 2017, accumulated amortization of debt issuance costs related to non-revolving debt totaled approximately $0.9 million and $0.6 million, respectively.
Offering Costs	Offering Costs We pay our Dealer Manager an ongoing stockholder servicing fee that is payable monthly and accrues daily in an amount equal to 1/365th of 1% of the purchase price per share of the Class T Shares sold in the Primary Offering. We will cease paying the stockholder servicing fee with respect to the Class T Shares sold in the Primary Offering at the earlier of (i) the date we list our shares on a national securities exchange, merge or consolidate with or into another entity, or sell or dispose of all or substantially all of our assets, (ii) the date at which the aggregate underwriting compensation from all sources equals 10% of the gross proceeds from the sale of both Class A Shares and Class T Shares in our Primary Offering (i.e., excluding proceeds from sales pursuant to our distribution reinvestment plan), which calculation shall be made by us with the assistance of our Dealer Manager commencing after the termination of the Primary Offering; (iii) the fifth anniversary of the last day of the fiscal quarter in which our Primary Offering (i.e., excluding our distribution reinvestment plan offering) terminated; and (iv) the date that such Class T Share is redeemed or is no longer outstanding. Our Dealer Manager entered into participating dealer agreements with certain other broker-dealers which authorized them to sell our shares. Upon sale of our shares by such broker-dealers, our Dealer Manager re-allowed all of the sales commissions and, subject to certain limitations, the stockholder servicing fees paid in connection with sales made by these broker-dealers. Our Dealer Manager was also permitted to re-allow to these broker-dealers a portion of their dealer manager fee as marketing fees, reimbursement of certain costs and expenses of attending training and education meetings sponsored by our Dealer Manager, payment of attendance fees required for employees of our Dealer Manager or other affiliates to attend retail seminars and public seminars sponsored by these broker-dealers, or to defray other distribution-related expenses. Our Dealer Manager also received reimbursement of bona fide due diligence expenses; however, to the extent the due diligence expenses could not be justified, any excess over actual due diligence expenses would have been considered underwriting compensation subject to a 10% FINRA limitation and, when aggregated with all other non-accountable expenses in connection with our Public Offering, could not exceed 3% of gross offering proceeds from sales in the Public Offering. We recorded a liability within Due to affiliates for the future estimated stockholder servicing fees at the time of sale of Class T Shares as an offering cost.
Foreign Currency Translation	Foreign Currency Translation For non-U.S. functional currency operations, assets and liabilities are translated to U.S. dollars at current exchange rates. Revenues and expenses are translated at the average rates for the period. All related adjustments are recorded in accumulated other comprehensive income (loss) as a separate component of equity. Transactions denominated in a currency other than the functional currency of the related operation are recorded at rates of exchange in effect at the date of the transaction. Gains or losses on foreign currency transactions are recorded in other income (expense).
Redeemable Common Stock	Redeemable Common Stock We adopted a share redemption program that enables stockholders to sell their shares to us in limited circumstances. We record amounts that are redeemable under the share redemption program as redeemable common stock in the accompanying consolidated balance sheets since the shares are redeemable at the option of the holder and therefore their redemption is outside our control. The maximum amount redeemable under our share redemption program is limited to the number of shares we can repurchase with the amount of the net proceeds from the sale of shares under the distribution reinvestment plan. However, accounting guidance states that determinable amounts that can become redeemable should be presented as redeemable when such amount is known. Therefore, the net proceeds from the distribution reinvestment plan are considered to be temporary equity and are presented as redeemable common stock in the accompanying consolidated balance sheets. In addition, current accounting guidance requires, among other things, that financial instruments that represent a mandatory obligation of us to repurchase shares be classified as liabilities and reported at settlement value. Our redeemable common shares are contingently redeemable at the option of the holder. When we determine we have a mandatory obligation to repurchase shares under the share redemption program, we reclassify such obligations from temporary equity to a liability based upon their respective settlement values. For the year ended December 31, 2017, we received redemption requests totaling approximately $2.2 million (approximately 0.2 million shares), approximately $1.5 million of which were fulfilled during the year ended December 31, 2017, with the remaining approximately $0.7 million included in accounts payable and accrued liabilities as of December 31, 2017 and fulfilled in January 2018. For the nine months ended September 30, 2018, we received redemption requests totaling approximately $7.0 million (approximately 0.7 million shares), approximately $2.3 million of which were fulfilled in April and July of 2018, and approximately $4.6 million of which were included in accounts payable and accrued liabilities as of September 30, 2018, and fulfilled in October of 2018.
Accounting for Equity Awards	Accounting for Equity Awards The cost of restricted stock is required to be measured based on the grant date fair value and the cost recognized over the relevant service period.
Fair Value Measurements	Fair Value Measurements Under GAAP, we are required to measure certain financial instruments at fair value on a recurring basis. In addition, we are required to measure other financial instruments and balances at fair value on a non-recurring basis. Fair value is defined by the accounting standard for fair value measurements and disclosures as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. It also establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels. The following summarizes the three levels of inputs and hierarchy of fair value we use when measuring fair value: • Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access; • Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as interest rates and yield curves that are observable at commonly quoted intervals; and • Level 3 inputs are unobservable inputs for the assets or liabilities that are typically based on an entity’s own assumptions as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the fair value measurement will fall within the lowest level that is significant to the fair value measurement in its entirety. The accounting guidance for fair value measurements and disclosures provides a framework for measuring fair value and establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. In determining fair value, we will utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as consider counterparty credit risk in our assessment of fair value. Considerable judgment will be necessary to interpret Level 2 and 3 inputs in determining fair value of our financial and non-financial assets and liabilities. Accordingly, there can be no assurance that the fair values we will present will be indicative of amounts that may ultimately be realized upon sale or other disposition of these assets. Financial and non-financial assets and liabilities measured at fair value on a non-recurring basis in our consolidated financial statements consist of real estate and related liabilities assumed related to our acquisitions. The fair values of these assets and liabilities were determined as of the acquisition dates using widely accepted valuation techniques, including (i) discounted cash flow analysis, which considers, among other things, leasing assumptions, growth rates, discount rates and terminal capitalization rates, (ii) income capitalization approach, which considers prevailing market capitalization rates, and (iii) comparable sales activity. In general, we consider multiple valuation techniques when measuring fair values. However, in certain circumstances, a single valuation technique may be appropriate. All of the fair values of the assets and liabilities as of the acquisition dates were derived using Level 3 inputs. The carrying amounts of cash and cash equivalents, restricted cash, other assets, variable-rate debt, accounts payable and accrued liabilities, distributions payable and amounts due to affiliates approximate fair value. The table below summarizes our fixed rate notes payable at September 30, 2018 and December 31, 2017. The estimated fair value of financial instruments is subjective in nature and is dependent on a number of important assumptions, including discount rates and relevant comparable market information associated with each financial instrument. The fair value of the fixed rate notes payable was estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The use of different market assumptions and estimation methodologies may have a material effect on the reported estimated fair value amounts. Accordingly, the estimates presented below are not necessarily indicative of the amounts we would realize in a current market exchange. September 30, 2018 December 31, 2017 Fair Value Carrying Value Fair Value Carrying Value Fixed Rate Secured Debt $ 205,700,000 $ 217,430,858 $ 213,300,000 $ 218,332,483 As of September 30, 2018, we had interest rate swaps, an interest rate cap, and a net investment hedge (See Notes 5 and 6). The valuations of these instruments were determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of the derivative. The analysis reflected the contractual terms of the derivative, including the period to maturity, and used observable market-based inputs, including interest rate curves, foreign exchange rates, and implied volatilities. The fair value of the interest rate swaps were determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash payments. Our fair values of our net investment hedges are based on the change in the spot rate at the end of the period as compared with the strike price at inception. To comply with GAAP, we incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of derivative contracts for the effect of non-performance risk, we will consider the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. Although we had determined that the majority of the inputs used to value our derivatives were within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilized Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by us and our counterparties. However, through September 30, 2018, we had assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and determined that the credit valuation adjustments were not significant to the overall valuation of our derivatives. As a result, we determined that our derivative valuations in their entirety were classified in Level 2 of the fair value hierarchy.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities We record all derivatives on our balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have 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. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. We may enter into derivative contracts that are intended to economically hedge certain of our risks, even though hedge accounting does not apply or we elect not to apply hedge accounting. For derivatives designated as net investment hedges, the effective portion of changes in the fair value of the derivatives are reported in accumulated other comprehensive income. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. Amounts are reclassified out of other comprehensive income into earnings when the hedged net investment is either sold or substantially liquidated.
Income Taxes	Income Taxes We made an election to be taxed as a Real Estate Investment Trust (“REIT”), under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with our taxable year ended December 31, 2014. To qualify as a REIT, we must continue to meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the REIT’s ordinary taxable income to stockholders (which is computed without regard to the dividends paid deduction or net capital gains and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, we generally will not be subject to federal income tax on taxable income that we distribute to our stockholders. If we fail to qualify as a REIT in any taxable year, we will then be subject to federal income taxes on our taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year during which qualification is lost unless the IRS grants us relief under certain statutory provisions. Such an event could materially adversely affect our net income and net cash available for distribution to stockholders. However, we believe that we are organized and operate in such a manner as to qualify for treatment as a REIT and intend to operate in the foreseeable future in such a manner that we will remain qualified as a REIT for federal income tax purposes. Even if we continue to qualify for taxation as a REIT, we may be subject to certain state and local taxes on our income and property, and federal income and excise taxes on our undistributed income. We filed an election to treat our TRS as a taxable REIT subsidiary effective January 1, 2014. In general, the TRS performs additional services for our customers and generally engages in any real estate or non-real estate related business. The TRS is subject to corporate federal and state income tax. The TRS follows accounting guidance which requires the use of the asset and liability method. Deferred income taxes represent the tax effect of future differences between the book and tax bases of assets and liabilities.
Per Share Data	Per Share Data Basic earnings per share attributable to our common stockholders for all periods presented are computed by dividing net income (loss) attributable to our common stockholders by the weighted average number of shares outstanding during the period, excluding unvested restricted stock. Diluted earnings per share is computed by including the dilutive effect of unvested restricted stock, utilizing the treasury stock method. For all periods presented, the dilutive effect of unrestricted stock was not included in the diluted weighted average shares as such shares were antidilutive.
Recently Issued Accounting Guidance	Recently Issued Accounting Guidance In May 2014, the FASB issued ASU 2014-09 “Revenue from Contracts with Customers” as ASC Topic 606. The objective of ASU 2014-09 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying the new standard, companies will perform a five-step analysis of transactions to determine when and how revenue is recognized. ASU 2014-09 applies to all contracts with customers except those that are within the scope of other topics in the FASB ASC. This ASU was applied using the modified retrospective approach. We have determined that our self storage rental revenues are not subject to the guidance in ASU 2014-09, as they qualify as lease contracts, which are excluded from its scope. We adopted this ASU on January 1, 2018 and its adoption did not have a material impact on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” ASU 2016-02 amends the guidance on accounting for leases. Under ASU 2016-02, lessees will be required to recognize the following for all leases (with the exception of short term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under ASU 2016-02, lessor accounting is largely unchanged. It also includes extensive amendments to the disclosure requirements. ASU 2016-02 is effective for fiscal years and interim periods beginning after December 15, 2018. Early adoption is permitted for financial statements that have not yet been made available for issuance. ASU 2016-02 requires a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. While we continue to evaluate the standard, based upon our assessment to date, we do not anticipate the adoption of this standard will have a material impact on our consolidated financial statements, because substantially all of our lease revenues are derived from month-to-month leases. In November 2016, the FASB issued ASU No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash.” ASU 2016-18 requires companies to include restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 is effective for reporting periods beginning after December 15, 2017, with early adoption permitted, and is applied retrospectively to all periods presented. We adopted this guidance on January 1, 2018 and have begun presenting restricted cash along with cash and cash equivalents in our consolidated statements of cash flows. As a result of adopting the new guidance, approximately $1.7 million of restricted cash which was previously included as operating cash outflows, and approximately $0.7 million of restricted cash which was previously included as investing cash outflows within the consolidated statements of cash flows for the nine months ended September 30, 2017, have been removed and are now included in the cash, cash equivalents, and restricted cash line items at the beginning and end of the period.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Estimated Useful Lives used to Depreciate Real Property Assets	Depreciation of our real property assets is charged to expense on a straight-line basis over the estimated useful lives Description Standard Depreciable Life Land Not Depreciated Buildings 30-35 years Site Improvements 7-10 years
Summary of Fixed Rate Notes Payable	The table below summarizes our fixed rate notes payable at September 30, 2018 and December 31, 2017. The estimated fair value of financial instruments is subjective in nature and is dependent on a number of important assumptions, including discount rates and relevant comparable market information associated with each financial instrument. The fair value of the fixed rate notes payable was estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. The use of different market assumptions and estimation methodologies may have a material effect on the reported estimated fair value amounts. Accordingly, the estimates presented below are not necessarily indicative of the amounts we would realize in a current market exchange. September 30, 2018 December 31, 2017 Fair Value Carrying Value Fair Value Carrying Value Fixed Rate Secured Debt $ 205,700,000 $ 217,430,858 $ 213,300,000 $ 218,332,483

Real Estate Facilities (Tables)

Real Estate Facilities (Tables)	9 Months Ended
	Sep. 30, 2018
Real Estate [Abstract]
Summary of Activity in Real Estate Facilities	The following summarizes the activity in real estate facilities during the nine months ended September 30, 2018: Real estate facilities Balance at December 31, 2017 $ 829,679,477 Impact of foreign exchange rate changes (4,135,139 ) Improvements and additions 1,159,083 Balance at September 30, 2018 $ 826,703,421 Accumulated depreciation Balance at December 31, 2017 $ (34,686,973 ) Depreciation expense (15,060,835 ) Impact of foreign exchange rate changes 138,758 Balance at September 30, 2018 $ (49,609,050 )

Pro Forma Financial Informati_2

Pro Forma Financial Information (Unaudited) (Tables)	9 Months Ended
	Sep. 30, 2018
Business Acquisition Pro Forma Information [Abstract]
Summary of Consolidated Results of Operations on Pro Forma Basis	The table set forth below summarizes, on a pro forma basis, the combined results of operations of the Company for the nine months ended September 30, 2018 and 2017. Such presentation reflects the Company’s acquisitions that occurred during 2017, which met the GAAP definition of a business in effect at that time, as if the acquisitions had occurred as of January 1, 2016. However, for acquisitions of lease-up properties that were not operational as of these dates, the pro forma information includes these acquisitions as of the date that formal operations began. There were no acquisitions completed during the nine months ended September 30, 2018. This pro forma information does not purport to represent what the actual consolidated results of operations of the Company would have been for the periods indicated, nor does it purport to predict the results of operations for future periods. For the nine months ended September 30, 2018 September 30, 2017 Pro forma revenue $ 60,225,042 $ 57,188,309 Pro forma operating expenses (46,127,260 ) (45,442,165 ) Pro forma net loss attributable to common stockholders (234,620 ) (2,291,516 )

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of Summarized Real Estate Secured Debt	The Company’s debt is summarized as follows: Encumbered Property September 30, 2018 December 2017 Interest Rate Maturity Date Raleigh/Myrtle Beach promissory note (1) $ 11,929,458 $ 12,076,470 5.73 % 9/1/2023 Amended KeyBank Credit Facility (2) 89,182,500 86,382,500 4.76 % (11) 12/22/2018 (13) Milton fixed rate (3) 5,040,575 5,238,606 5.81 % 10/15/2018 (12) Burlington I fixed rate (3) 4,905,228 5,120,423 5.98 % 10/15/2018 (12) Burlington I variable rate (3) 2,336,370 2,402,418 5.97 % 10/15/2018 (12) Oakville I variable rate (3) 7,799,019 8,019,489 5.45 % 12/31/2018 (12) Burlington II and Oakville II variable rate (3) 12,286,742 12,834,819 4.34 % 2/28/2021 (12) Oakland and Concord loan (4) 19,604,712 19,960,190 3.95 % 4/10/2023 KeyBank CMBS Loan (5) 95,000,000 95,000,000 3.89 % 8/1/2026 KeyBank Florida CMBS Loan (6) 52,000,000 52,000,000 4.65 % 5/1/2027 $11M KeyBank Subordinate Loan (7) 11,000,000 11,000,000 6.01 % (11) 6/1/2020 Midland North Carolina CMBS Loan (8) 47,249,999 47,249,999 5.31 % 8/1/2024 Dufferin loan (9) 10,541,343 11,172,315 3.21 % 5/31/2019 (12) Mavis loan (9) 8,885,034 9,416,609 3.21 % 5/31/2019 (12) Brewster loan (9) 5,807,151 6,154,532 3.21 % 5/31/2019 (12) Granite variable rate loan (10) 6,906,378 7,101,614 6.45 % 12/1/2018 (12) Centennial variable rate loan (10) 6,202,444 6,377,780 6.70 % 12/1/2018 (12) Premium on secured debt, net 1,305,598 1,646,988 Debt issuance costs, net (2,073,373 ) (2,361,850 ) Total debt $ 395,909,178 $ 396,792,902 (1) Fixed rate debt with principal and interest payments due monthly. This promissory note is encumbered by five properties (Morrisville, Cary, Raleigh, Myrtle Beach I, and Myrtle Beach II). (2) As of September 30, 2018, this facility encumbers 21 properties (Xenia, Sidney, Troy, Greenville, Washington Court House, Richmond, Connersville, Vallejo, Port St. Lucie I, Sacramento, Sonoma, Las Vegas I, Las Vegas II, Las Vegas III, Baltimore, Aurora II, Plantation, Wellington, Naples, Port St. Lucie II, and Doral). (3) Canadian Dollar denominated loans shown above in USD based on the foreign exchange rate in effect as of September 30, 2018. Variable rate loans are based on Canadian Prime, or the Canadian Dealer Offered Rate (“CDOR”). (4) This loan was assumed during the acquisition of the Oakland and Concord properties, along with an interest rate swap with USAmeriBank that fixes the interest rate at 3.95%. (5) This loan encumbers 29 properties (Whittier, La Verne, Santa Ana, Upland, La Habra, Monterey Park, Huntington Beach, Chico, Lancaster I, Riverside, Fairfield, Lompoc, Santa Rosa, Federal Heights, Aurora, Littleton, Bloomingdale, Crestwood, Forestville, Warren I, Sterling Heights, Troy, Warren II, Beverly, Everett, Foley, Tampa, Boynton Beach, and Lancaster II). The separate assets of these encumbered properties are not available to pay our other debts. The equity interests in the entities that own these encumbered properties are pledged as collateral in the $11M KeyBank Subordinate Loan. See footnote 7, below. (6) This loan encumbers five properties (Pompano Beach, Lake Worth, Jupiter, Royal Palm Beach, and Delray). The separate assets of these encumbered properties are not available to pay our other debts. The equity interests in the entities that own these encumbered properties are pledged as collateral in the $11M KeyBank Subordinate Loan. See footnote 7, below. (7) This variable rate loan encumbers 49% of the equity interest in the entities that own the 34 properties (the 29 properties encumbered by the KeyBank CMBS Loan and the five properties encumbered by the KeyBank Florida CMBS Loan), and is subordinate to the existing KeyBank CMBS Loan and KeyBank Florida CMBS Loan. (8) This loan encumbers 11 self storage properties (Asheville I, Arden, Asheville II, Hendersonville I, Asheville III, Asheville IV, Asheville V, Asheville VI, Asheville VII, Asheville VIII, and Hendersonville II) with monthly interest only payments until September 2019, at which time both interest and principal payments will be due monthly. (9) Canadian Dollar denominated loans shown above in USD based on the foreign exchange rate in effect as of September 30, 2018. These loans were assumed during the Toronto Merger, along with an interest rate swap with the Bank of Montreal that fixes the interest rate at 3.21%. (10) Canadian Dollar denominated loans shown above in USD based on the foreign exchange rate in effect as of September 30, 2018. Variable rate loans are based on Canadian Prime. (11) We have a $90 million interest rate cap on our variable rate LIBOR based debt that caps LIBOR at 1.25%. See Note 6. (12) Subsequent to September 30, 2018, these loans were paid off in full with the proceeds of a new, two year term loan with Citibank, N.A. See Note 12 for further discussion. (13) Subsequent to September 30, 2018, we amended and restated our Amended KeyBank Credit Facility to extend the maturity date until February 20, 2019. See Note 12 for further discussion.
Future Principal Payment Requirements on Outstanding Debt	The following table presents the future principal payment requirements on outstanding debt as of September 30, 2018: 2018 $ 122,872,859 (1) 2019 26,139,333 (1) 2020 12,622,834 (1) 2021 13,684,085 (1) 2022 3,635,428 2023 and thereafter 217,722,414 Total payments 396,676,953 Premium on secured debt, net 1,305,598 Debt issuance costs, net (2,073,373 ) Total $ 395,909,178 (1) On October 11, 2018, we repaid approximately $70.7 million of our Canadian debt with the proceeds from a new loan with Citibank. On October 29, 2018, we amended our Amended KeyBank Credit Facility to extend the maturity date until February 20, 2019. Subsequent to these debt transactions, future principal payment requirements on our outstanding debt for the years ending December 31, 2018, 2019, 2020, 2021, 2022, and thereafter are approximately $0.2 million, $90.1 million, $83.1 million, $2.0 million, $3.6 million, and $217.7 million, respectively. See Note 12 – Subsequent Events.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Summary of Derivative Financial Instruments	The following table summarizes the terms of our derivative financial instruments as of September 30, 2018: Notional Amount Strike Effective or Date Assumed Maturity Interest Rate Swaps: Oakland and Concord loan $ 19,604,712 3.95 % May 18, 2016 April 10, 2023 Dufferin loan 13,607,000 (1) 3.21 % February 1, 2017 May 31, 2019 Mavis loan 11,469,000 (1) 3.21 % February 1, 2017 May 31, 2019 Brewster loan 7,496,000 (1) 3.21 % February 1, 2017 May 31, 2019 Interest Rate Cap: LIBOR $ 90,000,000 1.25 % July 1, 2017 December 22, 2018 Foreign Currency Forward: Denominated in CAD $ 90,000,000 (1) 1.2846 March 28, 2018 January 28, 2019 (1) Notional amounts shown are denominated in CAD. These swaps were settled on October 11, 2018 in conjunction with the Canadian debt refinancing. See Note 12. The following table summarizes the terms of our derivative financial instruments as of December 31, 2017: Notional Amount Strike Effective Maturity Interest Rate Swaps: Oakland and Concord loan $ 19,960,190 3.95 % May 18, 2016 April 10, 2023 Dufferin loan 14,025,000 (1) 3.21 % February 1, 2017 May 31, 2019 Mavis loan 11,821,000 (1) 3.21 % February 1, 2017 May 31, 2019 Brewster loan 7,726,000 (1) 3.21 % February 1, 2017 May 31, 2019 Interest Rate Cap: LIBOR $ 90,000,000 1.25 % July 1, 2017 December 22, 2018 Foreign Currency Forward: Denominated in CAD $ 101,000,000 (1) 1.2526 August 31, 2017 March 29, 2018 (1) Notional amount shown is denominated in CAD.
Schedule of Fair Value of Derivative Financial Instruments and Classification In Consolidated Balance Sheets	The following table presents a gross presentation of the fair value of our derivative financial instruments as well as their classification on our consolidated balance sheets as of September 30, 2018 and December 31, 2017. Asset/Liability Derivatives Fair Value Balance Sheet Location September 30, 2018 December 31, 2017 Interest Rate Swaps Other assets $ 920,928 $ 455,526 Accounts payable and accrued liabilities — 6,320 Interest Rate Cap Other assets 214,853 472,501 Foreign Currency Forward Accounts payable and accrued liabilities — 67,092 Other assets 231,549 —

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2018
Related Party Transactions [Abstract]
Summary of Related Party Costs	Pursuant to the terms of the agreements described above, the following table summarizes related party costs incurred and paid by us for the year ended December 31, 2017 and the nine months ended September 30, 2018, as well as any related amounts payable as of December 31, 2017 and September 30, 2018: Year Ended December 31, 2017 Nine Months Ended September 30, Incurred Paid Payable Incurred Paid Payable Expensed Operating expenses (including organizational costs) $ 1,090,366 $ 751,010 $ 345,864 $ 1,678,975 $ 1,558,164 $ 466,675 Transfer Agent fees — — — 197,182 189,607 7,575 Asset management fees 5,346,280 5,346,280 — 4,085,859 4,001,045 84,814 Property management fees ( 1) 5,285,082 5,285,082 — 3,601,324 3,510,257 91,067 Acquisition expenses 212,577 212,577 — 42,642 42,642 — Capitalized Acquisition costs — — — 48,664 48,664 — Additional Paid-in Capital Selling commissions 966,516 966,516 — — — — Dealer Manager fee 353,167 513,881 — — — — Stockholder servicing fee ( 2) 299,299 690,272 2,620,040 — 507,910 2,112,130 Offering costs 33,466 33,466 — — — — Total $ 13,586,753 $ 13,799,084 $ 2,965,904 $ 9,654,646 $ 9,858,289 $ 2,762,261 (1) During the nine months ended September 30, 2018 and year ended December 31, 2017, property management fees included $0 and approximately $3.2 million, respectively, of fees paid to the sub-property manager of our properties. This includes the costs incurred related to the change in property management of approximately $0.8 million during 2017. (2) We pay our Dealer Manager an ongoing stockholder servicing fee that is payable monthly and accrues daily in an amount equal to 1/365 th

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2018
Commitments And Contingencies Disclosure [Abstract]
Stock for Redemptions Based on Number of Years Stock Held	The amount that we may pay to redeem stock for redemptions is the redemption price set forth in the following table which is based upon the number of years the stock is held: Number Years Held Redemption Price Less than 1 No Redemption Allowed 1 or more but less than 3 90.0% of Redemption Amount 3 or more but less than 4 95.0% of Redemption Amount 4 or more 100.0% of Redemption Amount

Selected Quarterly Data (Tables

Selected Quarterly Data (Tables)	9 Months Ended
	Sep. 30, 2018
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Financial Information	The following is a summary of quarterly financial information for the periods shown below: Three months ended September 30, 2017 December 31, 2017 March 31, 2018 June 30, 2018 September 30, 2018 Total revenues $ 19,939,512 $ 19,385,071 $ 19,866,457 $ 20,045,516 $ 20,313,069 Total operating expenses $ 19,197,777 $ 16,991,318 $ 16,010,116 $ 16,605,713 $ 15,836,436 Operating income $ 741,735 $ 2,393,753 $ 3,856,341 $ 3,439,803 $ 4,476,633 Net loss $ (3,875,164 ) $ (2,351,155 ) $ (667,047 ) $ (1,437,330 ) $ (457,278 ) Net loss attributable to common stockholders $ (3,840,775 ) $ (2,329,515 ) $ (661,203 ) $ (1,427,056 ) $ (451,424 ) Net loss per Class A Share-basic and diluted $ (0.07 ) $ (0.04 ) $ (0.01 ) $ (0.02 ) $ (0.01 ) Net loss per Class T Share-basic and diluted $ (0.07 ) $ (0.04 ) $ (0.01 ) $ (0.02 ) $ (0.01 )

Organization - Additional Infor

Organization - Additional Information (Detail)	Apr. 19, 2018$ / shares	Feb. 01, 2017shares	Jan. 09, 2017USD ($)shares	Oct. 01, 2015USD ($)$ / shares	May 23, 2014USD ($)	Aug. 02, 2013USD ($)	Sep. 30, 2018USD ($)EmployeeStorageFacilityState$ / sharesshares	Jun. 30, 2018$ / sharesshares	May 31, 2018$ / shares	Dec. 31, 2017$ / sharesshares	Nov. 30, 2016shares
Organization And Nature Of Operations [Line Items]
Date of formation of company							Jan. 8, 2013
Preferred Stock, shares authorized | shares							200,000,000	200,000,000		200,000,000
Preferred Stock, par value | $ / shares							$ 0.001	$ 0.001		$ 0.001
Shares issuable pursuant to distribution reinvestment plan							$ 95,000,000
Number of self storage facilities | StorageFacility							83
Number of states located for self storage facilities | State							14
Investments in Majority-owned Subsidiaries
Organization And Nature Of Operations [Line Items]
Percentage of non-voting equity owned							15.00%
Investments in Majority-owned Subsidiaries | Affiliates
Organization And Nature Of Operations [Line Items]
Percentage owned by affiliates							2.50%
Distribution Reinvestment Plan
Organization And Nature Of Operations [Line Items]
Common Stock, shares authorized | shares											100,900,000
Description for termination of offering							The DRP Offering may be terminated at any time upon 10 days’ prior written notice to stockholders.
Primary Offering | Maximum
Organization And Nature Of Operations [Line Items]
Common stock, value authorized							$ 1,000,000,000
Primary Offering | Minimum [Member]
Organization And Nature Of Operations [Line Items]
Sale of common shares					$ 1,500,000
Class A Common stock
Organization And Nature Of Operations [Line Items]
Common Stock, shares authorized | shares							350,000,000			350,000,000
Common Stock, par value | $ / shares							$ 0.001			$ 0.001
Estimated value per common share | $ / shares	$ 10.65
Class A Common stock | Distribution Reinvestment Plan
Organization And Nature Of Operations [Line Items]
Selling price per share | $ / shares									$ 10.65
Class A Common stock | Common Stock | Distribution Reinvestment Plan
Organization And Nature Of Operations [Line Items]
Gross proceeds from issuance of common stock							$ 24,300,000
Number of common stock issued | shares							2,400,000
Class A Common stock | Primary Offering | Common Stock
Organization And Nature Of Operations [Line Items]
Number of shares issued in offering | shares			48,000,000
Gross proceeds from issuance of common stock			$ 493,000,000
Class T Common stock
Organization And Nature Of Operations [Line Items]
Common Stock, shares authorized | shares							350,000,000			350,000,000
Common Stock, par value | $ / shares							$ 0.001			$ 0.001
Estimated value per common share | $ / shares	$ 10.65
Class T Common stock | Distribution Reinvestment Plan
Organization And Nature Of Operations [Line Items]
Selling price per share | $ / shares									$ 10.65
Class T Common stock | Common Stock | Distribution Reinvestment Plan
Organization And Nature Of Operations [Line Items]
Gross proceeds from issuance of common stock							$ 3,700,000
Number of common stock issued | shares							400,000
Class T Common stock | Primary Offering | Common Stock
Organization And Nature Of Operations [Line Items]
Number of shares issued in offering | shares			7,000,000
Gross proceeds from issuance of common stock			$ 73,000,000
SS Toronto | Toronto Five Property Portfolio Merger | Class A Units of Operating Partnership
Organization And Nature Of Operations [Line Items]
Business acquisition partnership units issued | shares		483,197
SmartStop Asset Management | Strategic Storage Trust Advisor II, LLC
Organization And Nature Of Operations [Line Items]
Economic Interests							97.50%
Percentage of voting membership interest							100.00%
SmartStop Asset Management | Property Management Agreement
Organization And Nature Of Operations [Line Items]
Percentage of voting membership interest							100.00%
SmartStop Asset Management | Strategic Transfer Agent Services, LLC
Organization And Nature Of Operations [Line Items]
Percentage of membership interest							100.00%
SmartStop Self Storage, Inc.
Organization And Nature Of Operations [Line Items]
Sale price per share | $ / shares				$ 13.75
Enterprise value on sale				$ 1,400,000,000
Strategic Storage Advisor II, LLC
Organization And Nature Of Operations [Line Items]
Number of employees | Employee							0
Strategic Storage Operating Partnership II, L.P.
Organization And Nature Of Operations [Line Items]
Date of formation of company							Jan. 9, 2013
Advisor purchased a limited partnership interest in Operating Partnership						$ 200,000
Initial capital contribution						$ 1,000
Percentage of limited partnership interests							99.10%
Percentage of limited partnership interests owned by noncontrolling owners							0.90%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) shares in Millions	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Summary Of Significant Accounting Policies [Line Items]
Payments to acquire intangible assets							$ 0		$ 4,400,000
Business acquisition, transaction costs					$ 600,000	$ 0	900,000	$ 500,000
Impairment losses recognized					0	0	0	0
Gross amounts of lease intangibles					34,000,000		34,000,000		34,000,000
Accumulated amortization of lease intangibles					32,000,000		32,000,000		30,000,000
Total estimated future amortization expense of intangible assets, year 2018					25,000,000,000		25,000,000,000
Total estimated future amortization expense of intangible assets, year 2019					100,000		100,000
Total estimated future amortization expense of intangible assets, year 2020					100,000		100,000
Total estimated future amortization expense of intangible assets, year 2021					100,000		100,000
Total estimated future amortization expense of intangible assets, year 2022					100,000		100,000
Total estimated future amortization expense of intangible assets, thereafter					1,200,000		1,200,000
Accumulated amortization of debt issuance costs					2,100,000		$ 2,100,000		$ 1,500,000
Redemptions of common stock (in shares)							0.7		0.2
Redemptions of common stock, value				$ 700,000			$ 324		$ 2,200,000
Total value of shares requested to be redeemed							$ 7,000,000
Minimum percentage of ordinary taxable income to be distributed to stockholders							90.00%
ASU 2016-18 | Investing Cash Outflow
Summary Of Significant Accounting Policies [Line Items]
Restricted cash previously included as operating cash outflow and investing cash inflow						1,700,000		1,700,000
ASU 2016-18 | Operating Cash Inflow
Summary Of Significant Accounting Policies [Line Items]
Restricted cash previously included as operating cash outflow and investing cash inflow						$ 700,000		$ 700,000
Subsequent Event
Summary Of Significant Accounting Policies [Line Items]
Redemptions of common stock, value	$ 4,600,000
Dealer Manager
Summary Of Significant Accounting Policies [Line Items]
Underwriting commission							10.00%
Maximum dealer manager commission fee percentage of proceeds from Primary Offering							3.00%
Class T Common stock | Dealer Manager
Summary Of Significant Accounting Policies [Line Items]
Monthly stockholder servicing fee accrual description							accrues daily in an amount equal to 1/365th of 1% of the purchase price per share
Class T Common stock | Primary Offering Dealer Manager Agreement
Summary Of Significant Accounting Policies [Line Items]
Percentage of gross proceeds from sale of shares							10.00%
Class A Common stock | Primary Offering Dealer Manager Agreement
Summary Of Significant Accounting Policies [Line Items]
Percentage of gross proceeds from sale of shares							10.00%
Redeemable Common Stock
Summary Of Significant Accounting Policies [Line Items]
Redemptions of common stock, value		$ 2,300,000	$ 2,300,000				$ 6,978,799		1,500,000
Non Revolving Debt
Summary Of Significant Accounting Policies [Line Items]
Accumulated amortization of debt issuance costs					$ 900,000		$ 900,000		$ 600,000
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life							3 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life							5 years

Estimated Useful Lives used to

Estimated Useful Lives used to Depreciate Real Property Assets (Detail)	9 Months Ended
	Sep. 30, 2018
Land
Property Plant And Equipment [Line Items]
Standard Depreciable Life	Not Depreciated
Buildings | Minimum [Member]
Property Plant And Equipment [Line Items]
Standard Depreciable Life	30 years
Buildings | Maximum
Property Plant And Equipment [Line Items]
Standard Depreciable Life	35 years
Site Improvements | Minimum [Member]
Property Plant And Equipment [Line Items]
Standard Depreciable Life	7 years
Site Improvements | Maximum
Property Plant And Equipment [Line Items]
Standard Depreciable Life	10 years

Summary of Fixed Rate Notes Pay

Summary of Fixed Rate Notes Payable (Detail) - Fixed Rate Secured Debt - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 205,700,000	$ 213,300,000
Carrying Value	$ 217,430,858	$ 218,332,483

Schedule of Activity in Real Es

Schedule of Activity in Real Estate Facilities (Detail)	9 Months Ended
	Sep. 30, 2018USD ($)
Real estate facilities
Real estate facilities, beginning balance	$ 829,679,477
Impact of foreign exchange rate changes	(4,135,139)
Improvements and additions	1,159,083
Real estate facilities, ending balance	826,703,421
Accumulated depreciation
Accumulated depreciation, beginning balance	(34,686,973)
Depreciation expense	(15,060,835)
Impact of foreign exchange rate changes	138,758
Accumulated depreciation, ending balance	$ (49,609,050)

Real Estate Facilities - Additi

Real Estate Facilities - Additional Information (Detail) $ in Millions	Jun. 28, 2018CAD ($)
SmartCentres
Restructuring Cost And Reserve [Line Items]
Percentage of units to be subscribed at closing in limited partnership	50.00%
Subscription price of units in limited partnership	$ 3.8
Subscription price as percentage of agreed upon fair market value of land to be contributed to the Limited Partnership	50.00%
East York Lot
Restructuring Cost And Reserve [Line Items]
Percentage of membership interest	50.00%
Fair market value	$ 7.6

Summary of Consolidated Results

Summary of Consolidated Results of Operations on Pro Forma Basis (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Business Acquisition Pro Forma Information [Abstract]
Pro forma revenue	$ 60,225,042	$ 57,188,309
Pro forma operating expenses	(46,127,260)	(45,442,165)
Pro forma net loss attributable to common stockholders	$ (234,620)	$ (2,291,516)

Pro Forma Financial Informati_3

Pro Forma Financial Information - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Business Acquisition Pro Forma Information [Abstract]
Pro forma acquisition related expenses	$ 0	$ 0.5

Schedule of Summarized Real Est

Schedule of Summarized Real Estate Secured Debt (Detail) - USD ($)		Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Debt Instrument Carrying Amount		$ 396,676,953
Debt issuance costs, net		(194,957)	$ (836,202)
Total		$ 395,909,178	396,792,902
Amended KeyBank Credit Facility
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[1],[2]	4.76%
Debt Instrument Carrying Amount	[1]	$ 89,182,500	86,382,500
Burlington I Variable Rate
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[3]	5.97%
Debt Instrument Carrying Amount	[3]	$ 2,336,370	2,402,418
Oakville I Variable Rate
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[3]	5.45%
Debt Instrument Carrying Amount	[3]	$ 7,799,019	8,019,489
Burlington II and Oakville II Variable Rate
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[3]	4.34%
Debt Instrument Carrying Amount	[3]	$ 12,286,742	12,834,819
$11M KeyBank Subordinate Loan
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	[4]	$ 11,000,000	11,000,000
Debt Instrument, Interest Rate	[2],[4]	6.01%
Granite Variable Rate Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[5]	6.45%
Debt Instrument Carrying Amount	[5]	$ 6,906,378	7,101,614
Centennial Variable Rate Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[5]	6.70%
Debt Instrument Carrying Amount	[5]	$ 6,202,444	6,377,780
Fixed Rate Secured Debt
Debt Instrument [Line Items]
Premium on secured debt, net		1,305,598	1,646,988
Debt issuance costs, net		(2,073,373)	(2,361,850)
Total		395,909,178
Fixed Rate Secured Debt | Raleigh Myrtle Beach Promissory Note
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	[6]	$ 11,929,458	12,076,470
Debt Instrument, Interest Rate	[6]	5.73%
Fixed Rate Secured Debt | Milton Fixed Rate
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[3]	5.81%
Debt Instrument Carrying Amount	[3]	$ 5,040,575	5,238,606
Fixed Rate Secured Debt | Burlington I Fixed Rate
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	[3]	$ 4,905,228	5,120,423
Debt Instrument, Interest Rate	[3]	5.98%
Fixed Rate Secured Debt | Oakland and Concord Loan
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	[7]	$ 19,604,712	19,960,190
Debt Instrument, Interest Rate	[7]	3.95%
Fixed Rate Secured Debt | KeyBank CMBS Loan
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	[8]	$ 95,000,000	95,000,000
Debt Instrument, Interest Rate	[8]	3.89%
Fixed Rate Secured Debt | KeyBank Florida CMBS Loan
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	[9]	$ 52,000,000	52,000,000
Debt Instrument, Interest Rate	[9]	4.65%
Fixed Rate Secured Debt | Midland North Carolina CMBS Loan
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	[10]	$ 47,249,999	47,249,999
Debt Instrument, Interest Rate	[10]	5.31%
Fixed Rate Secured Debt | Dufferin Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[11]	3.21%
Debt Instrument Carrying Amount	[11]	$ 10,541,343	11,172,315
Fixed Rate Secured Debt | Mavis Loan
Debt Instrument [Line Items]
Debt Instrument, Interest Rate	[11]	3.21%
Debt Instrument Carrying Amount	[11]	$ 8,885,034	9,416,609
Fixed Rate Secured Debt | Brewster Loan
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	[11]	$ 5,807,151	$ 6,154,532
Debt Instrument, Interest Rate	[11]	3.21%
[1]	As of September 30, 2018, this facility encumbers 21 properties (Xenia, Sidney, Troy, Greenville, Washington Court House, Richmond, Connersville, Vallejo, Port St. Lucie I, Sacramento, Sonoma, Las Vegas I, Las Vegas II, Las Vegas III, Baltimore, Aurora II, Plantation, Wellington, Naples, Port St. Lucie II, and Doral).
[2]	We have a $90 million interest rate cap on our variable rate LIBOR based debt that caps LIBOR at 1.25%. See Note 6.
[3]	Canadian Dollar denominated loans shown above in USD based on the foreign exchange rate in effect as of September 30, 2018. Variable rate loans are based on Canadian Prime, or the Canadian Dealer Offered Rate (“CDOR”).
[4]	This variable rate loan encumbers 49% of the equity interest in the entities that own the 34 properties (the 29 properties encumbered by the KeyBank CMBS Loan and the five properties encumbered by the KeyBank Florida CMBS Loan), and is subordinate to the existing KeyBank CMBS Loan and KeyBank Florida CMBS Loan.
[5]	Canadian Dollar denominated loans shown above in USD based on the foreign exchange rate in effect as of September 30, 2018. Variable rate loans are based on Canadian Prime.
[6]	Fixed rate debt with principal and interest payments due monthly. This promissory note is encumbered by five properties (Morrisville, Cary, Raleigh, Myrtle Beach I, and Myrtle Beach II).
[7]	This loan was assumed during the acquisition of the Oakland and Concord properties, along with an interest rate swap with USAmeriBank that fixes the interest rate at 3.95%.
[8]	This loan encumbers 29 properties (Whittier, La Verne, Santa Ana, Upland, La Habra, Monterey Park, Huntington Beach, Chico, Lancaster I, Riverside, Fairfield, Lompoc, Santa Rosa, Federal Heights, Aurora, Littleton, Bloomingdale, Crestwood, Forestville, Warren I, Sterling Heights, Troy, Warren II, Beverly, Everett, Foley, Tampa, Boynton Beach, and Lancaster II). The separate assets of these encumbered properties are not available to pay our other debts. The equity interests in the entities that own these encumbered properties are pledged as collateral in the $11M KeyBank Subordinate Loan. See footnote 7, below.
[9]	This loan encumbers five properties (Pompano Beach, Lake Worth, Jupiter, Royal Palm Beach, and Delray). The separate assets of these encumbered properties are not available to pay our other debts. The equity interests in the entities that own these encumbered properties are pledged as collateral in the $11M KeyBank Subordinate Loan. See footnote 7, below.
[10]	This loan encumbers 11 self storage properties (Asheville I, Arden, Asheville II, Hendersonville I, Asheville III, Asheville IV, Asheville V, Asheville VI, Asheville VII, Asheville VIII, and Hendersonville II) with monthly interest only payments until September 2019, at which time both interest and principal payments will be due monthly.
[11]	Canadian Dollar denominated loans shown above in USD based on the foreign exchange rate in effect as of September 30, 2018. These loans were assumed during the Toronto Merger, along with an interest rate swap with the Bank of Montreal that fixes the interest rate at 3.21%.

Schedule of Summarized Real E_2

Schedule of Summarized Real Estate Secured Debt (Parenthetical) (Detail)

Oct. 11, 2018

Oct. 01, 2018

Sep. 30, 2018USD ($)Property

Sep. 30, 2018CAD ($)Property

Dec. 31, 2017USD ($)

Dec. 31, 2017CAD ($)

Sep. 30, 2017CAD ($)

Mar. 31, 2017CAD ($)

Feb. 01, 2017CAD ($)

Debt Instrument [Line Items]

Derivative, notional amount | $

$ 101,000,000

$ 101,000,000

$ 58,500,000

Citibank | Subsequent Event

Debt Instrument [Line Items]

Debt instrument maturity period

2 years

Interest Rate Cap | LIBOR

Debt Instrument [Line Items]

Derivative, notional amount | $

$ 90,000,000

$ 90,000,000

Interest Rate Swaps, Strike

1.25%

1.25%

1.25%

1.25%

Amended KeyBank Credit Facility

Debt Instrument [Line Items]

Debt Instrument Maturity Date

[1],[2]

Dec. 22, 2018

Number of properties encumbered

21

21

Amended KeyBank Credit Facility | Subsequent Event

Debt Instrument [Line Items]

Debt Instrument Maturity Date

Feb. 20, 2019

Burlington I Variable Rate

Debt Instrument [Line Items]

Debt Instrument Maturity Date

[3],[4]

Oct. 15, 2018

Oakville I Variable Rate

Debt Instrument [Line Items]

Debt Instrument Maturity Date

[3],[4]

Dec. 31, 2018

Burlington II and Oakville II Variable Rate

Debt Instrument [Line Items]

Debt Instrument Maturity Date

[3],[4]

Feb. 28, 2021

Oakland and Concord Loan | Interest Rate Swap

Debt Instrument [Line Items]

Derivative, notional amount | $

$ 19,604,712

$ 19,960,190

Interest Rate Swaps, Strike

3.95%

3.95%

3.95%

3.95%

KeyBank Florida CMBS Loan

Debt Instrument [Line Items]

Number of properties encumbered

5

5

$11M KeyBank Subordinate Loan

Debt Instrument [Line Items]

Debt Instrument Maturity Date

[5]

Jun. 1, 2020

Number of properties encumbered

34

34

Percentage of real estate property encumbered variable rate loan

49.00%

Dufferin Loan | Interest Rate Swap

Debt Instrument [Line Items]

Derivative, notional amount | $

$ 13,607,000

[6]

$ 14,025,000

[7]

Interest Rate Swaps, Strike

3.21%

3.21%

3.21%

3.21%

Mavis Loan | Interest Rate Swap

Debt Instrument [Line Items]

Derivative, notional amount | $

$ 11,469,000

[6]

$ 11,821,000

[7]

Interest Rate Swaps, Strike

3.21%

3.21%

3.21%

3.21%

Brewster Loan | Interest Rate Swap

Debt Instrument [Line Items]

Derivative, notional amount | $

$ 7,496,000

[6]

$ 7,726,000

[7]

Interest Rate Swaps, Strike

3.21%

3.21%

3.21%

3.21%

Granite Variable Rate Loan

Debt Instrument [Line Items]

Debt Instrument Maturity Date

[4],[8]

Dec. 1, 2018

Centennial Variable Rate Loan

Debt Instrument [Line Items]

Debt Instrument Maturity Date

[4],[8]

Dec. 1, 2018

Fixed Rate Secured Debt | Interest Rate Swap | SS Toronto

Debt Instrument [Line Items]

Fixed interest rate

3.21%

3.21%

Fixed Rate Secured Debt | Raleigh Myrtle Beach Promissory Note

Debt Instrument [Line Items]

Debt Instrument Maturity Date

[9]

Sep. 1, 2023

Number of properties encumbered

5

5

Fixed Rate Secured Debt | Milton Fixed Rate

Debt Instrument [Line Items]

Debt Instrument Maturity Date

[3],[4]

Oct. 15, 2018

Fixed Rate Secured Debt | Burlington I Fixed Rate

Debt Instrument [Line Items]

Debt Instrument Maturity Date

[3],[4]

Oct. 15, 2018

Fixed Rate Secured Debt | Oakland and Concord Loan

Debt Instrument [Line Items]

Debt Instrument Maturity Date

[10]

Apr. 10, 2023

Fixed Rate Secured Debt | Oakland and Concord Loan | Interest Rate Swap

Debt Instrument [Line Items]

Fixed interest rate

3.95%

3.95%

Fixed Rate Secured Debt | KeyBank CMBS Loan

Debt Instrument [Line Items]

Debt Instrument Maturity Date

[11]

Aug. 1, 2026

Number of properties encumbered

29

29

Fixed Rate Secured Debt | KeyBank Florida CMBS Loan

Debt Instrument [Line Items]

Debt Instrument Maturity Date

[12]

May 1, 2027

Number of properties encumbered

5

5

Fixed Rate Secured Debt | Midland North Carolina CMBS Loan

Debt Instrument [Line Items]

Debt Instrument Maturity Date

[13]

Aug. 1, 2024

Number of properties encumbered

11

11

Fixed Rate Secured Debt | Dufferin Loan

Debt Instrument [Line Items]

Debt Instrument Maturity Date

[4],[14]

May 31, 2019

Fixed Rate Secured Debt | Mavis Loan

Debt Instrument [Line Items]

Debt Instrument Maturity Date

[4],[14]

May 31, 2019

Fixed Rate Secured Debt | Brewster Loan

Debt Instrument [Line Items]

Debt Instrument Maturity Date

[4],[14]

May 31, 2019

[1]

As of September 30, 2018, this facility encumbers 21 properties (Xenia, Sidney, Troy, Greenville, Washington Court House, Richmond, Connersville, Vallejo, Port St. Lucie I, Sacramento, Sonoma, Las Vegas I, Las Vegas II, Las Vegas III, Baltimore, Aurora II, Plantation, Wellington, Naples, Port St. Lucie II, and Doral).

[2]

Subsequent to September 30, 2018, we amended and restated our Amended KeyBank Credit Facility to extend the maturity date until February 20, 2019. See Note 12 for further discussion

[3]

Canadian Dollar denominated loans shown above in USD based on the foreign exchange rate in effect as of September 30, 2018. Variable rate loans are based on Canadian Prime, or the Canadian Dealer Offered Rate (“CDOR”).

[4]

Subsequent to September 30, 2018, these loans were paid off in full with the proceeds of a new, two year term loan with Citibank, N.A. See Note 12 for further discussion.

[5]

This variable rate loan encumbers 49% of the equity interest in the entities that own the 34 properties (the 29 properties encumbered by the KeyBank CMBS Loan and the five properties encumbered by the KeyBank Florida CMBS Loan), and is subordinate to the existing KeyBank CMBS Loan and KeyBank Florida CMBS Loan.

[6]

Notional amounts shown are denominated in CAD. These swaps were settled on October 11, 2018 in conjunction with the Canadian debt refinancing. See Note 12.

[7]

Notional amount shown is denominated in CAD.

[8]

Canadian Dollar denominated loans shown above in USD based on the foreign exchange rate in effect as of September 30, 2018. Variable rate loans are based on Canadian Prime.

[9]

Fixed rate debt with principal and interest payments due monthly. This promissory note is encumbered by five properties (Morrisville, Cary, Raleigh, Myrtle Beach I, and Myrtle Beach II).

[10]

This loan was assumed during the acquisition of the Oakland and Concord properties, along with an interest rate swap with USAmeriBank that fixes the interest rate at 3.95%.

[11]

This loan encumbers 29 properties (Whittier, La Verne, Santa Ana, Upland, La Habra, Monterey Park, Huntington Beach, Chico, Lancaster I, Riverside, Fairfield, Lompoc, Santa Rosa, Federal Heights, Aurora, Littleton, Bloomingdale, Crestwood, Forestville, Warren I, Sterling Heights, Troy, Warren II, Beverly, Everett, Foley, Tampa, Boynton Beach, and Lancaster II). The separate assets of these encumbered properties are not available to pay our other debts. The equity interests in the entities that own these encumbered properties are pledged as collateral in the $11M KeyBank Subordinate Loan. See footnote 7, below.

[12]

This loan encumbers five properties (Pompano Beach, Lake Worth, Jupiter, Royal Palm Beach, and Delray). The separate assets of these encumbered properties are not available to pay our other debts. The equity interests in the entities that own these encumbered properties are pledged as collateral in the $11M KeyBank Subordinate Loan. See footnote 7, below.

[13]

This loan encumbers 11 self storage properties (Asheville I, Arden, Asheville II, Hendersonville I, Asheville III, Asheville IV, Asheville V, Asheville VI, Asheville VII, Asheville VIII, and Hendersonville II) with monthly interest only payments until September 2019, at which time both interest and principal payments will be due monthly.

[14]

Canadian Dollar denominated loans shown above in USD based on the foreign exchange rate in effect as of September 30, 2018. These loans were assumed during the Toronto Merger, along with an interest rate swap with the Bank of Montreal that fixes the interest rate at 3.21%.

Debt - Additional Information (

Debt - Additional Information (Detail)	Oct. 29, 2018USD ($)	Sep. 30, 2018USD ($)Extension	Dec. 31, 2017USD ($)	Sep. 30, 2017CAD ($)	Mar. 31, 2017CAD ($)	Feb. 01, 2017CAD ($)	Feb. 18, 2016USD ($)	Dec. 22, 2015USD ($)
Debt Instrument [Line Items]
Weighted average interest rate on debt		4.62%
Guarantees provided in connection with loans		$ 42,000,000
Notional amount for interest rate cap				$ 101,000,000	$ 101,000,000	$ 58,500,000
Operating Partnership
Debt Instrument [Line Items]
Notional amount for interest rate cap			$ 90,000,000
LIBOR | Operating Partnership
Debt Instrument [Line Items]
Effective interest rate cap on derivative instrument			1.25%
Amended KeyBank Credit Facility
Debt Instrument [Line Items]
Maximum borrowings under credit facility		145,000,000					$ 145,000,000	$ 105,000,000
Potential maximum borrowings under credit facility								500,000,000
Increment in borrowing capacity								$ 10,000,000
Additional borrowing capacity							$ 40,000,000
Outstanding balance on credit facility		$ 89,200,000
Line of credit facility, initial term		3 years
Line of credit facility, maturity date		Dec. 22, 2018
Line of credit facility, term of extension options		1 year
Line of credit facility, number of extension options | Extension		2
Line of credit facility, description		The Amended KeyBank Credit Facility is a revolving loan with an initial term of three years, maturing on December 22, 2018, with two one-year extension options subject to certain conditions outlined further in the credit agreement for the Amended KeyBank Credit Facility (the “Amended Credit Agreement”). On October 29, 2018, we amended and restated our Amended KeyBank Credit Facility, extending the maturity date to February 20, 2019. See Note 12 - Subsequent Events. Payments due pursuant to the Amended KeyBank Credit Facility are interest-only for the first 36 months and a 30-year amortization schedule thereafter.
Line of credit facility amortization schedule		30 years
Line of credit facility interest-only period		36 months
Line of credit facility, interest rate description		The Eurodollar Loans bear interest at the lesser of (a) the Adjusted LIBO Rate (as defined in the Amended Credit Agreement) for the Interest Period in effect plus the Applicable Rate, or (b) the Maximum Rate (as defined in the Amended Credit Agreement). The Applicable Rate corresponds to our total leverage, as specified in the Amended Credit Agreement. For any ABR Loans, the Applicable Rate is 125 basis points if our total leverage is less than 50%, and 150 basis points if our leverage is greater than 50%. For any Eurodollar Loan, the Applicable Rate is 225 basis points if our total leverage is less than 50% and 250 basis points if our total leverage is greater than 50%.
Percent of collateral properties used for aggregate borrowing capacity		60.00%
Minimum debt service coverage ratio		1.35%
Total leverage ratio		60.00%
Percentage of net proceeds of equity received		80.00%
Minimum interest service coverage ratio		1.85%
Minimum fixed charge ratio		1.60%
Threshold percentage for ratio of variable rate indebtedness to total indebtedness.		30.00%
Percentage of required loan to value ratio		60.00%
Amended KeyBank Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Maximum borrowings under credit facility	$ 110,000,000
Line of credit facility, maturity date	Feb. 20, 2019
Amended KeyBank Credit Facility | ABR Loan | Loans with Total Leverage Less Than 50%
Debt Instrument [Line Items]
Line of credit facility, applicable interest rate		1.25%
Amended KeyBank Credit Facility | ABR Loan | Loans with Total Leverage Greater Than 50%
Debt Instrument [Line Items]
Line of credit facility, applicable interest rate		1.50%
Amended KeyBank Credit Facility | Eurodollar Loan | Loans with Total Leverage Less Than 50%
Debt Instrument [Line Items]
Line of credit facility, applicable interest rate		2.25%
Amended KeyBank Credit Facility | Eurodollar Loan | Loans with Total Leverage Greater Than 50%
Debt Instrument [Line Items]
Line of credit facility, applicable interest rate		2.50%

Future Principal Payment Requir

Future Principal Payment Requirements on Outstanding Debt (Detail) - USD ($)		Sep. 30, 2018	Dec. 31, 2017
Debt, Fiscal Year Maturity
2,018	[1]	$ 122,872,859
2,019	[1]	26,139,333
2,020	[1]	12,622,834
2,021	[1]	13,684,085
2,022		3,635,428
2023 and thereafter		217,722,414
Total payments		396,676,953
Debt issuance costs, net		(194,957)	$ (836,202)
Total		395,909,178	396,792,902
Fixed Rate Secured Debt
Debt, Fiscal Year Maturity
Premium on secured debt, net		1,305,598	1,646,988
Debt issuance costs, net		(2,073,373)	$ (2,361,850)
Total		$ 395,909,178
[1]	On October 11, 2018, we repaid approximately $70.7 million of our Canadian debt with the proceeds from a new loan with Citibank. On October 29, 2018, we amended our Amended KeyBank Credit Facility to extend the maturity date until February 20, 2019. Subsequent to these debt transactions, future principal payment requirements on our outstanding debt for the years ending December 31, 2018, 2019, 2020, 2021, 2022, and thereafter are approximately $0.2 million, $90.1 million, $83.1 million, $2.0 million, $3.6 million, and $217.7 million, respectively.

Future Principal Payment Requ_2

Future Principal Payment Requirements on Outstanding Debt (Parenthetical) (Detail) - USD ($)		Oct. 29, 2018	Oct. 11, 2018	Sep. 30, 2018
Debt Instrument [Line Items]
2,018	[1]			$ 122,872,859
2,019	[1]			26,139,333
2,020	[1]			12,622,834
2,021	[1]			13,684,085
2,022				3,635,428
2023 and thereafter				$ 217,722,414
Amended KeyBank Credit Facility
Debt Instrument [Line Items]
Line of credit facility expiration date				Dec. 22, 2018
Subsequent Event
Debt Instrument [Line Items]
2,018			$ 200,000
2,019			90,100,000
2,020			83,100,000
2,021			2,000,000
2,022			3,600,000
2023 and thereafter			217,700,000
Subsequent Event | Amended KeyBank Credit Facility
Debt Instrument [Line Items]
Line of credit facility expiration date		Feb. 20, 2019
Subsequent Event | Citibank
Debt Instrument [Line Items]
Repayments of Long-term Lines of Credit			$ 70,700,000
[1]	On October 11, 2018, we repaid approximately $70.7 million of our Canadian debt with the proceeds from a new loan with Citibank. On October 29, 2018, we amended our Amended KeyBank Credit Facility to extend the maturity date until February 20, 2019. Subsequent to these debt transactions, future principal payment requirements on our outstanding debt for the years ending December 31, 2018, 2019, 2020, 2021, 2022, and thereafter are approximately $0.2 million, $90.1 million, $83.1 million, $2.0 million, $3.6 million, and $217.7 million, respectively.

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Detail)	Mar. 28, 2018USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017CAD ($)Contract$ / $	Mar. 31, 2017CAD ($)Contract$ / $	Feb. 01, 2017CAD ($)Contract$ / $
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative, notional amount						$ 101,000,000	$ 101,000,000	$ 58,500,000
Forward rate of derivative (CAD/USD) | $ / $						1.2526	1.3439	1.3058
Number of foreign currency forward contracts settled | Contract						4	2
Number of foreign currency forward contracts entered | Contract						1	1	1
Foreign currency forward contract gain	$ 2,200,000		$ 5,500,000	$ 1,400,000	$ 2,431,232
Other income (expense)
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Change in fair value of derivatives not designated in hedging relationships		$ 0			20,000
Gain on foreign currency forward contract, ineffective portion		$ 0			$ 65,000

Derivative Instruments - Summar

Derivative Instruments - Summary of Derivative Financial Instruments (Detail)	9 Months Ended	12 Months Ended
	Sep. 30, 2018USD ($)$ / Unit	Dec. 31, 2017USD ($)$ / Unit	Sep. 30, 2018CAD ($)$ / Unit		Dec. 31, 2017CAD ($)$ / Unit		Sep. 30, 2017CAD ($)	Mar. 31, 2017CAD ($)	Feb. 01, 2017CAD ($)
Derivative [Line Items]
Derivative, notional amount							$ 101,000,000	$ 101,000,000	$ 58,500,000
Interest Rate Swap | Oakland and Concord Loan
Derivative [Line Items]
Derivative, notional amount	$ 19,604,712	$ 19,960,190
Interest Rate Swaps, Strike	3.95%	3.95%	3.95%		3.95%
Interest Rate Swaps, Effective Date or Date Assumed	May 18, 2016	May 18, 2016
Interest Rate Swaps, Maturity Date	Apr. 10, 2023	Apr. 10, 2023
Interest Rate Swap | Dufferin Loan
Derivative [Line Items]
Derivative, notional amount			$ 13,607,000	[1]	$ 14,025,000	[2]
Interest Rate Swaps, Strike	3.21%	3.21%	3.21%		3.21%
Interest Rate Swaps, Effective Date or Date Assumed	Feb. 1, 2017	Feb. 1, 2017
Interest Rate Swaps, Maturity Date	May 31, 2019	May 31, 2019
Interest Rate Swap | Mavis Loan
Derivative [Line Items]
Derivative, notional amount			$ 11,469,000	[1]	$ 11,821,000	[2]
Interest Rate Swaps, Strike	3.21%	3.21%	3.21%		3.21%
Interest Rate Swaps, Effective Date or Date Assumed	Feb. 1, 2017	Feb. 1, 2017
Interest Rate Swaps, Maturity Date	May 31, 2019	May 31, 2019
Interest Rate Swap | Brewster Loan
Derivative [Line Items]
Derivative, notional amount			$ 7,496,000	[1]	$ 7,726,000	[2]
Interest Rate Swaps, Strike	3.21%	3.21%	3.21%		3.21%
Interest Rate Swaps, Effective Date or Date Assumed	Feb. 1, 2017	Feb. 1, 2017
Interest Rate Swaps, Maturity Date	May 31, 2019	May 31, 2019
Interest Rate Cap | LIBOR
Derivative [Line Items]
Derivative, notional amount	$ 90,000,000	$ 90,000,000
Interest Rate Swaps, Strike	1.25%	1.25%	1.25%		1.25%
Interest Rate Swaps, Effective Date or Date Assumed	Jul. 1, 2017	Jul. 1, 2017
Interest Rate Swaps, Maturity Date	Dec. 22, 2018	Dec. 22, 2018
Foreign Currency Forward
Derivative [Line Items]
Foreign Currency Forward, Notional Amount			$ 90,000,000	[1]	$ 101,000,000	[2]
Foreign Currency Forward, Strike | $ / Unit	1.2846	1.2526	1.2846		1.2526
Foreign Currency Forward, Effective Date or Date Assumed	Mar. 28, 2018	Aug. 31, 2017
Foreign Currency Forward, Maturity Date	Jan. 28, 2019	Mar. 29, 2018
[1]	Notional amounts shown are denominated in CAD. These swaps were settled on October 11, 2018 in conjunction with the Canadian debt refinancing. See Note 12.
[2]	Notional amount shown is denominated in CAD.

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Fair Value of Derivative Financial Instruments and Classification In Consolidated Balance Sheets (Detail) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Interest Rate Swaps | Other assets
Derivatives Fair Value [Line Items]
Derivative fair value, assets	$ 920,928	$ 455,526
Interest Rate Swaps | Accounts payable and accrued liabilities
Derivatives Fair Value [Line Items]
Derivative fair value, liability		6,320
Interest Rate Caps | Other assets
Derivatives Fair Value [Line Items]
Derivative fair value, assets	214,853	472,501
Foreign Currency Forward | Other assets
Derivatives Fair Value [Line Items]
Derivative fair value, assets	$ 231,549
Foreign Currency Forward | Accounts payable and accrued liabilities
Derivatives Fair Value [Line Items]
Derivative fair value, liability		$ 67,092

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) $ / shares in Units, $ in Millions	Oct. 01, 2017USD ($)	Feb. 01, 2017USD ($)$ / sharesshares	Oct. 01, 2015USD ($)	Sep. 30, 2018USD ($)$ / shares	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)StorageFacility$ / shares	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)$ / shares	Feb. 01, 2017CAD ($)
Related Party Transaction [Line Items]
Property operating expenses – affiliates				$ 2,571,670	$ 3,307,619	$ 7,687,183	$ 8,145,469
Self storage rental revenue				19,796,139	$ 19,804,298	$ 58,784,034	$ 56,356,871
Number of self storage facilities | StorageFacility						83
Loans outstanding				396,676,953		$ 396,676,953
Toronto Merger
Related Party Transaction [Line Items]
Number of self storage facilities		5
Auction Company | Shareholder Service
Related Party Transaction [Line Items]
Self storage rental revenue				$ 15,000		$ 30,000
Strategic Storage TI Services II JV, LLC | Tenant Insurance
Related Party Transaction [Line Items]
Threshold percentage to purchase triggering member ownership interest in joint venture at fair market value				95.00%		95.00%
Operating revenue				$ 400,000		$ 1,100,000
Strategic Storage TI Services II JV, LLC | Tenant Insurance | Member or its affiliate terminates all or substantially all of the property management agreements or defaults in its material obligations
Related Party Transaction [Line Items]
Percentage of ownership interest in joint venture to sell to triggering member at fair market value				50.00%		50.00%
Percentage of ownership interest in joint venture to purchase from triggering member at 95 percent of fair market value				50.00%		50.00%
Strategic Storage TI Services II JV, LLC | Tenant Insurance | TRS subsidiary
Related Party Transaction [Line Items]
Percentage of ownership interest in joint venture				50.00%		50.00%
Percentage of net economics generated from tenant insurance to be received under terms of joint venture agreement						50.00%
Class A Common stock
Related Party Transaction [Line Items]
Common Stock, par value | $ / shares				$ 0.001		$ 0.001		$ 0.001
Class T Common stock
Related Party Transaction [Line Items]
Common Stock, par value | $ / shares				$ 0.001		$ 0.001		$ 0.001
Advisory Agreement
Related Party Transaction [Line Items]
Rate of acquisition fees of purchase price of contract				1.75%		1.75%
Monthly asset management fee						0.05208%
Monthly asset management fee one twelfth of less than one percentage of average invested assets						one-twelfth of 0.625%
Disposition fees percentage of sale price of property						1.00%
Operating expenses reimbursement percentage of average investment in assets						2.00%
Operating expenses reimbursement percentage of net income						25.00%
Operating expenses exceed limitation						12 months
Maximum days for disclosure fact						60 days
Percentage owned by affiliate						2.50%
Advisory Agreement | Maximum
Related Party Transaction [Line Items]
Commission percentage of sale price of property						6.00%
Dealer Manager
Related Party Transaction [Line Items]
Maximum dealer manager commission fee percentage of proceeds from Primary Offering						3.00%
Underwriting commission						10.00%
Dealer Manager | Class A Common stock
Related Party Transaction [Line Items]
Sale commission fees percentage of proceed from Primary Offering						7.00%
Dealer Manager | Class T Common stock
Related Party Transaction [Line Items]
Sale commission fees percentage of proceed from Primary Offering						2.00%
Monthly stockholder servicing fee accrual description						accrues daily in an amount equal to 1/365th of 1% of the purchase price per share
Primary Offering Dealer Manager Agreement | Class A Common stock
Related Party Transaction [Line Items]
Percentage of gross proceeds from sale of shares						10.00%
Primary Offering Dealer Manager Agreement | Class T Common stock
Related Party Transaction [Line Items]
Percentage of gross proceeds from sale of shares						10.00%
SmartStop Asset Management
Related Party Transaction [Line Items]
Percentage of non-voting equity owned						15.00%
SmartStop Asset Management | Auction Company
Related Party Transaction [Line Items]
Percentage of limited partnership interests				50.00%		50.00%
Transfer Agent Agreement
Related Party Transaction [Line Items]
Initial setup fees paid to agent						$ 50,000
Transfer agent agreement term						3 years
Transfer agent renewal agreement term						1 year
Transfer agent agreement termination description						The initial term of the transfer agent agreement is three years, which term will be automatically renewed for one year successive terms, but either party may terminate the transfer agent agreement upon 90 days’ prior written notice. In the event that we terminate the transfer agent agreement, other than for cause, we will pay our transfer agent all amounts that would have otherwise accrued during the remaining term of the transfer agent agreement; provided, however, that when calculating the remaining months in the term for such purposes, such term is deemed to be a 12 month period starting from the date of the most recent annual anniversary date.
Property Management Agreement
Related Party Transaction [Line Items]
Agreement termination date	Oct. 1, 2017
Property management agreement termination description						The property management agreements had a three year term and automatically renewed for successive one year periods thereafter, unless we or our Property Manager provided prior written notice at least 90 days prior to the expiration of the term. In general, if we terminated a property management agreement without cause during the initial three year term, we would have been required to pay our Property Manager a termination fee equal to the Set-Up Amount, reduced by 1/36th of the Set-Up Amount for every full month of the term that had elapsed. After the end of the initial three year term, we could have terminated a property management agreement on 30 days prior written notice without payment of a termination fee. Our Property Manager could have terminated a property management agreement on 60 days prior written notice to us.
Agreement date			Oct. 1, 2015
Property Management Agreement | Maximum
Related Party Transaction [Line Items]
Signage and set-up costs associated with converting each property to extra space brand			$ 25,000
Property Management Agreement | Minimum [Member]
Related Party Transaction [Line Items]
Property management monthly management fee			$ 2,500
Property management monthly management fee percentage on gross revenue			6.00%
Strategic Storage Trust Sub Property Management Limited Liability Company
Related Party Transaction [Line Items]
Property management agreement termination description						The sub-property management agreements also had a three year term and automatically renewed for successive one year periods thereafter, unless our Property Manager or Extra Space provided prior written notice at least 90 days prior to the expiration of the term. In general, if our Property Manager terminated a sub-property management agreement without cause during the initial three year term, it would have been required to pay Extra Space a termination fee equal to the Set-Up Amount, reduced by 1/36th of the Set-Up Amount for every full month of the term that had elapsed. After the end of the initial three year term, our Property Manager could have terminated a sub-property management agreement on 30 days prior written notice without payment of a termination fee. Extra Space could have terminated a sub-property management agreement on 60 days prior written notice to our Property Manager
Sub property management agreement description						Under the sub-property management agreements, our Property Manager paid Extra Space a monthly management fee for each property equal to the greater of $2,500 or 6% of the gross revenues, plus reimbursement of Extra Space’s costs of managing the properties; provided, however that no management fee was due and payable to Extra Space for the months of January and July each year during the term.
Strategic Storage Trust Sub Property Management Limited Liability Company | Minimum [Member]
Related Party Transaction [Line Items]
Property management monthly management fee			$ 2,500
Property management monthly management fee percentage on gross revenue			6.00%
Termination of Sub-property Manager | Property Operating Expenses - Affiliates
Related Party Transaction [Line Items]
Agreement termination date	Oct. 1, 2017
Property operating expenses – affiliates								$ 800,000
Property Management Agreement
Related Party Transaction [Line Items]
Property management agreement termination description						The property management agreements have a three year term and automatically renew for successive three year periods thereafter, unless we or our Property Manager provide prior written notice at least 90 days prior to the expiration of the term. After the end of the initial three year term, either party may terminate a property management agreement generally upon 60 days prior written notice.
Agreement amendment effective date	Oct. 1, 2017
Percentage of fee of property manager	6.00%
Construction management fee	5.00%
Cost of construction or capital improvement work	$ 10,000
One time fee for property manager	3,750
Property Management Agreement | Minimum [Member]
Related Party Transaction [Line Items]
Property management monthly management fee	$ 3,000
SmartStop TI II, LLC | Strategic Storage TI Services II JV, LLC | Tenant Insurance
Related Party Transaction [Line Items]
Percentage of ownership interest in joint venture				50.00%		50.00%
Percentage of net economics generated from tenant insurance to be received under terms of joint venture agreement						50.00%
SS Toronto | Toronto Merger
Related Party Transaction [Line Items]
Common Stock, par value | $ / shares		$ 0.001
Consideration per share of common stock | $ / shares		$ 11.0651
Business acquisition cash consideration transferred		$ 7,300,000
Loans outstanding		38,400,000							$ 50.1
Acquisition fees incurred to the advisor		0
Acquisition assumed other net liabilities		$ 800,000
SS Toronto | Toronto Merger | Term Loan
Related Party Transaction [Line Items]
Guarantee obligations									34.8
SS Toronto | Toronto Merger | Promissory Notes
Related Party Transaction [Line Items]
Guarantee obligations									$ 17.7
SS Toronto | Toronto Merger | Class A Units of Operating Partnership
Related Party Transaction [Line Items]
Operating partnership units issued per share of common stock		73.11%
Business acquisition partnership units issued | shares		483,197

Summary of Related Party Costs

Summary of Related Party Costs (Detail) - USD ($)		9 Months Ended	12 Months Ended
		Sep. 30, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Related party costs, Incurred		$ 9,654,646	$ 13,586,753
Related party costs, Paid		9,858,289	13,799,084
Related party costs, Payable		2,762,261	2,965,904
Operating expenses (including organizational costs)
Related Party Transaction [Line Items]
Related party costs, Incurred		1,678,975	1,090,366
Related party costs, Paid		1,558,164	751,010
Related party costs, Payable		466,675	345,864
Transfer Agent fees
Related Party Transaction [Line Items]
Related party costs, Incurred		197,182	0
Related party costs, Paid		189,607	0
Related party costs, Payable		7,575	0
Asset management fees
Related Party Transaction [Line Items]
Related party costs, Incurred		4,085,859	5,346,280
Related party costs, Paid		4,001,045	5,346,280
Related party costs, Payable		84,814	0
Property management fees
Related Party Transaction [Line Items]
Related party costs, Incurred	[1]	3,601,324	5,285,082
Related party costs, Paid	[1]	3,510,257	5,285,082
Related party costs, Payable	[1]	91,067	0
Acquisition expenses
Related Party Transaction [Line Items]
Related party costs, Incurred		42,642	212,577
Related party costs, Paid		42,642	212,577
Related party costs, Payable		0	0
Acquisition costs
Related Party Transaction [Line Items]
Related party costs, Incurred		48,664	0
Related party costs, Paid		48,664	0
Related party costs, Payable		0	0
Selling commissions
Related Party Transaction [Line Items]
Related party costs, Incurred		0	966,516
Related party costs, Paid		0	966,516
Related party costs, Payable		0	0
Dealer manager fee
Related Party Transaction [Line Items]
Related party costs, Incurred		0	353,167
Related party costs, Paid		0	513,881
Related party costs, Payable		0	0
Stockholder servicing fee
Related Party Transaction [Line Items]
Related party costs, Incurred	[2]	0	299,299
Related party costs, Paid	[2]	507,910	690,272
Related party costs, Payable	[2]	2,112,130	2,620,040
Offering costs
Related Party Transaction [Line Items]
Related party costs, Incurred		0	33,466
Related party costs, Paid		0	33,466
Related party costs, Payable		$ 0	$ 0
[1]	During the nine months ended September 30, 2018 and year ended December 31, 2017, property management fees included $0 and approximately $3.2 million, respectively, of fees paid to the sub-property manager of our properties. This includes the costs incurred related to the change in property management of approximately $0.8 million during 2017.
[2]	We pay our Dealer Manager an ongoing stockholder servicing fee that is payable monthly and accrues daily in an amount equal to 1/365th of 1% of the purchase price per share of the Class T Shares sold in the Primary Offering.

Summary of Related Party Cost_2

Summary of Related Party Costs (Parenthetical) (Detail) - USD ($)		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Related party costs, Incurred				$ 9,654,646		$ 13,586,753
Property operating expenses – affiliates		$ 2,571,670	$ 3,307,619	$ 7,687,183	$ 8,145,469
Dealer Manager | Class T Common stock
Related Party Transaction [Line Items]
Monthly stockholder servicing fee accrual description				accrues daily in an amount equal to 1/365th of 1% of the purchase price per share
Property management fees
Related Party Transaction [Line Items]
Related party costs, Incurred	[1]			$ 3,601,324		5,285,082
Property operating expenses – affiliates						800,000
Property management fees | Sub-property manager
Related Party Transaction [Line Items]
Related party costs, Incurred				$ 0		$ 3,200,000
[1]	During the nine months ended September 30, 2018 and year ended December 31, 2017, property management fees included $0 and approximately $3.2 million, respectively, of fees paid to the sub-property manager of our properties. This includes the costs incurred related to the change in property management of approximately $0.8 million during 2017.

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Oct. 31, 2018	Jan. 09, 2017	Nov. 30, 2016	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Sep. 30, 2018	Dec. 31, 2017	Apr. 19, 2018
Commitments And Contingencies [Line Items]
Additional shares issued pursuant to distribution reinvestment plan, value							$ 12,042,676
Redemptions of common stock (in shares)							700,000	200,000
Redemptions of common stock, value						$ 700,000	$ 324	$ 2,200,000
Subsequent Event
Commitments And Contingencies [Line Items]
Redemptions of common stock, value	$ 4,600,000
Distribution Reinvestment Plan
Commitments And Contingencies [Line Items]
Amendment, suspension or termination period for distribution reinvestment Plan							10 days
Sales commissions, dealer manager fee, or stockholder servicing fee payable							$ 0
Distribution Reinvestment Plan | Maximum
Commitments And Contingencies [Line Items]
Additional shares issued pursuant to distribution reinvestment plan, value			$ 100,900,000
Share Redemption Program
Commitments And Contingencies [Line Items]
Amendment, suspension or termination period of share							30 days
Maximum weighted-average number of shares outstanding percentage							5.00%
Redemptions of common stock (in shares)							700,000	200,000
Redemptions of common stock, value						$ 700,000	$ 7,000,000	$ 2,200,000
Share Redemption Program | Subsequent Event
Commitments And Contingencies [Line Items]
Redemptions of common stock, value	$ 4,600,000
Share Redemption Program | Minimum [Member]
Commitments And Contingencies [Line Items]
Shareholders share holding period							1 year
Operating Partnership Redemption Rights
Commitments And Contingencies [Line Items]
Number of shares issuable upon conversion of partnership units							1
Requisite minimum outstanding period for conversion eligibility							1 year
Class A and Class T Common Stock | Distribution Reinvestment Plan
Commitments And Contingencies [Line Items]
Estimated value per share under distribution reinvestment plan									$ 10.65
Class A Common stock | Distribution Reinvestment Plan
Commitments And Contingencies [Line Items]
Shares issued pursuant to distribution reinvestment plan		1,100,000					2,400,000
Class T Common stock | Distribution Reinvestment Plan
Commitments And Contingencies [Line Items]
Shares issued pursuant to distribution reinvestment plan		100,000					400,000
Redeemable Common Stock
Commitments And Contingencies [Line Items]
Additional shares issued pursuant to distribution reinvestment plan, value							$ 0
Redemptions of common stock, value				$ 2,300,000	$ 2,300,000		$ 6,978,799	1,500,000
Redeemable Common Stock | Share Redemption Program
Commitments And Contingencies [Line Items]
Redemptions of common stock, value				$ 2,300,000	$ 2,300,000			$ 1,500,000

Stock for Redemptions Based on

Stock for Redemptions Based on Number of Years Stock Held (Detail)	9 Months Ended
	Sep. 30, 2018
Less than 1
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Redemption price	0.00%
1 or more but less than 3
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Redemption price	90.00%
3 or more but less than 4
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Redemption price	95.00%
4 or more
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Redemption price	100.00%

Declaration of Distributions -

Declaration of Distributions - Additional Information (Detail) - $ / shares	Sep. 30, 2018	Sep. 20, 2018
Class A Common stock
Dividend Declared [Line Items]
Common stock per share outstanding per day declared		$ 0.001644
Cash distribution record date start	Oct. 1, 2018
Cash distribution record date end	Dec. 31, 2018
Class T Common stock
Dividend Declared [Line Items]
Common stock per share outstanding per day declared		$ 0.001644
Cash distribution record date start	Oct. 1, 2018
Cash distribution record date end	Dec. 31, 2018
Common stock dividend payable per share per day	$ 0.0014

Selected Quarterly Data - Summa

Selected Quarterly Data - Summary of Quarterly Financial Information (Detail) - USD ($)	3 Months Ended					9 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Schedule Of Quarterly Financial Information [Line Items]
Total revenues	$ 20,313,069	$ 20,045,516	$ 19,866,457	$ 19,385,071	$ 19,939,512	$ 60,225,042	$ 56,723,834
Total operating expenses	15,836,436	16,605,713	16,010,116	16,991,318	19,197,777	48,452,265	55,542,477
Operating income	4,476,633	3,439,803	3,856,341	2,393,753	741,735	11,772,777	1,181,357
Net loss	(457,278)	(1,437,330)	(667,047)	(2,351,155)	(3,875,164)	(2,561,655)	(12,635,135)
Net loss attributable to common stockholders	$ (451,424)	$ (1,427,056)	$ (661,203)	$ (2,329,515)	$ (3,840,775)	$ (2,539,683)	$ (12,534,550)
Class A Common stock
Schedule Of Quarterly Financial Information [Line Items]
Net loss per share-basic and diluted	$ (0.01)	$ (0.02)	$ (0.01)	$ (0.04)	$ (0.07)	$ (0.04)	$ (0.22)
Class T Common stock
Schedule Of Quarterly Financial Information [Line Items]
Net loss per share-basic and diluted	$ (0.01)	$ (0.02)	$ (0.01)	$ (0.04)	$ (0.07)	$ (0.04)	$ (0.22)

Potential Merger - Additional I

Potential Merger - Additional Information (Detail) $ / shares in Units, ft² in Millions, $ in Millions	Oct. 01, 2018USD ($)ft²StorageFacilityState$ / sharesshares	Sep. 30, 2018State
Business Acquisition [Line Items]
Number of states located for self storage facilities | State		14
Subsequent Event
Business Acquisition [Line Items]
Number of self storage facilities | StorageFacility	28
Number of states located for self storage facilities | State	10
Net rentable square feet of storage space | ft²	2.1
Subsequent Event | Canada
Business Acquisition [Line Items]
Number of self storage facilities | StorageFacility	19,300
Strategic Storage Growth Trust, Inc | Subsequent Event
Business Acquisition [Line Items]
Sale price per share | $ / shares	$ 12
Total purchase price	$ 340
Number of self storage facilities | StorageFacility	2
Termination fee to be paid	$ 2.9
Reverse termination fee	9.6
Contingent consideration reverse termination fee	$ 9.6
SS Growth Operating Partnership, L.P | Subsequent Event
Business Acquisition [Line Items]
Business acquisition partnership units issued | shares	1.127

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) shares in Millions

Nov. 12, 2018USD ($)shares

Oct. 29, 2018USD ($)

Oct. 11, 2018CAD ($)Extension

Sep. 30, 2018USD ($)Extension

Sep. 30, 2017USD ($)

Oct. 11, 2018USD ($)Entity

Oct. 11, 2018CAD ($)Entity

Sep. 30, 2017CAD ($)

Mar. 31, 2017CAD ($)

Feb. 01, 2017CAD ($)

Feb. 18, 2016USD ($)

Dec. 22, 2015USD ($)

Subsequent Event [Line Items]

Gross proceeds from issuance of common stock

$ 0

$ 18,879,430

Derivative, notional amount

$ 101,000,000

$ 101,000,000

$ 58,500,000

Amended KeyBank Credit Facility

Subsequent Event [Line Items]

Maximum borrowings under credit facility

$ 145,000,000

$ 145,000,000

$ 105,000,000

Line of credit facility, description

The Amended KeyBank Credit Facility is a revolving loan with an initial term of three years, maturing on December 22, 2018, with two one-year extension options subject to certain conditions outlined further in the credit agreement for the Amended KeyBank Credit Facility (the “Amended Credit Agreement”). On October 29, 2018, we amended and restated our Amended KeyBank Credit Facility, extending the maturity date to February 20, 2019. See Note 12 - Subsequent Events. Payments due pursuant to the Amended KeyBank Credit Facility are interest-only for the first 36 months and a 30-year amortization schedule thereafter.

Line of credit facility, maturity date

Dec. 22, 2018

Line of credit facility, number of extension options | Extension

2

Line of credit facility, term of extension options

1 year

Subsequent Event | Amended KeyBank Credit Facility

Subsequent Event [Line Items]

Maximum borrowings under credit facility

$ 110,000,000

Line of credit facility, maturity date

Feb. 20, 2019

Canadian Debt Refinancing | Subsequent Event

Subsequent Event [Line Items]

Derivative, notional amount

$ 99,300,000

Effective interest rate cap on derivative instrument

3.00%

3.00%

Canadian Debt Refinancing | Subsequent Event | Canadian Citibank Loan Agreement

Subsequent Event [Line Items]

Number of special purpose entities | Entity

10

10

Maximum borrowings under credit facility

$ 112,000,000

Proceeds from line of credit

$ 99,300,000

Maximum remaining aggregate amount of borrowing

$ 12,700,000

Line of credit facility, description

Canadian Citibank Loan Agreement is a term loan that has a maturity date of October 9, 2020, which may, in certain circumstances, be extended at our option for three consecutive terms of one year each. Monthly payments are interest-only, with the full principal amount becoming due and payable on the maturity date

Line of credit facility, maturity date

Oct. 9, 2020

Line of credit facility, number of extension options | Extension

3

Line of credit facility, term of extension options

1 year

Line of credit, interest rate description

In general, the amounts outstanding bear interest at a rate equal to the sum of the “CDOR” (as defined in the Loan Agreement) and 2.25%.

Debt Instrument, Interest Rate

4.10%

4.10%

Class A Common stock | Distribution Reinvestment Plan Offering | Subsequent Event

Subsequent Event [Line Items]

Number of common stock issued | shares

2.5

Gross proceeds from issuance of common stock

$ 25,500,000

Class T Common stock | Distribution Reinvestment Plan Offering | Subsequent Event

Subsequent Event [Line Items]

Number of common stock issued | shares

0.4

Gross proceeds from issuance of common stock

$ 3,900,000