Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 26, 2018 | Jun. 30, 2017 | |
Document And Entity Information [Abstract] | |||
Entity Registrant Name | National Storage Affiliates Trust | ||
Entity Central Index Key | 1,618,563 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock, Shares Outstanding | 50,329,814 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 1 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Real estate | ||
Self storage properties | $ 2,275,233 | $ 1,844,336 |
Less accumulated depreciation | (170,358) | (110,803) |
Self storage properties, net | 2,104,875 | 1,733,533 |
Cash and cash equivalents | 13,366 | 12,570 |
Restricted cash | 3,041 | 2,767 |
Debt issuance costs, net | 2,185 | 3,069 |
Investment in unconsolidated real estate venture | 89,093 | 81,486 |
Other assets, net | 52,615 | 44,730 |
Assets held for sale | 1,555 | 13,937 |
Total assets | 2,266,730 | 1,892,092 |
Liabilities | ||
Debt financing | 958,097 | 878,954 |
Accounts payable and accrued liabilities | 24,459 | 21,616 |
Deferred revenue | 12,687 | 12,454 |
Total liabilities | 995,243 | 913,024 |
Commitments and contingencies | ||
Equity | ||
Preferred shares of beneficial interest, par value $0.01 per share. 50,000,000 authorized, 6,900,000 issued and outstanding at December 31, 2017, at liquidation preference | 172,500 | 0 |
Common shares of beneficial interest, par value $0.01 per share. 250,000,000 authorized, 50,284,934 and 43,110,362 shares issued and outstanding at December 31, 2017 and 2016, respectively | 503 | 431 |
Additional paid-in capital | 711,467 | 576,365 |
Distributions in excess of earnings | (55,729) | (8,719) |
Accumulated other comprehensive income | 12,282 | 9,025 |
Total shareholders' equity | 841,023 | 577,102 |
Noncontrolling interests | 430,464 | 401,966 |
Total equity | 1,271,487 | 979,068 |
Total liabilities and equity | $ 2,266,730 | $ 1,892,092 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Preferred shares of beneficial interest, par value (in dollars per share) | $ 0.01 | $ 0 |
Preferred shares of beneficial interest, authorized (in shares) | 50,000,000 | 0 |
Preferred shares of beneficial interest, issued (in shares) | 6,900,000 | 0 |
Preferred shares of beneficial interest, outstanding (in shares) | 6,900,000 | 0 |
Common shares of beneficial interest, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common shares of beneficial interest, authorized (in shares) | 250,000,000 | 250,000,000 |
Common shares of beneficial interest, issued (in shares) | 50,284,934 | 43,110,362 |
Common shares of beneficial interest, outstanding (in shares) | 50,284,934 | 43,110,362 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
REVENUE | |||
Rental revenue | $ 251,814 | $ 191,178 | $ 129,869 |
Other property-related revenue | 8,255 | 6,059 | 4,050 |
Management fees and other revenue | 8,061 | 1,809 | 0 |
Total revenue | 268,130 | 199,046 | 133,919 |
OPERATING EXPENSES | |||
Property operating expenses | 84,455 | 64,798 | 45,412 |
General and administrative expenses | 30,060 | 21,528 | 16,265 |
Depreciation and amortization | 75,115 | 55,064 | 40,651 |
Total operating expenses | 189,630 | 141,390 | 102,328 |
Income from operations | 78,500 | 57,656 | 31,591 |
OTHER (EXPENSE) INCOME | |||
Interest expense | (34,068) | (24,109) | (20,779) |
Loss on early extinguishment of debt | 0 | (136) | (914) |
Equity in losses of unconsolidated real estate venture | (2,339) | (1,484) | 0 |
Acquisition costs | (593) | (6,546) | (4,765) |
Organizational and offering expenses | 0 | 0 | (58) |
Non-operating expense | (58) | (147) | (92) |
Gain on sale of self storage properties | 5,715 | 0 | 0 |
Other expense | (31,343) | (32,422) | (26,608) |
Income before income taxes | 47,157 | 25,234 | 4,983 |
Income tax expense | (1,159) | (368) | (187) |
Net income | 45,998 | 24,866 | 4,796 |
Net (income) loss attributable to noncontrolling interests | (43,037) | (6,901) | 7,644 |
Net income attributable to National Storage Affiliates Trust | 2,961 | 17,965 | 12,440 |
Distributions to preferred shareholders | (2,300) | 0 | 0 |
Net income attributable to common shareholders | $ 661 | $ 17,965 | $ 12,440 |
EARNINGS PER SHARE | |||
Earnings (loss) per share - basic (in dollars per share) | $ 0.01 | $ 0.60 | $ 0.80 |
Earnings (loss) per share - diluted (in dollars per share) | $ 0.01 | $ 0.31 | $ 0.17 |
Weighted average shares outstanding - basic (in shares) | 44,423 | 29,887 | 15,463 |
Weighted average shares outstanding - diluted (in shares) | 44,423 | 78,747 | 45,409 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 45,998 | $ 24,866 | $ 4,796 |
Other comprehensive income (loss) | |||
Unrealized gain (loss) on derivative contracts | 1,935 | 6,434 | (1,551) |
Reclassification of other comprehensive loss to interest expense | 2,308 | 2,678 | 1,699 |
Other comprehensive income | 4,243 | 9,112 | 148 |
Comprehensive income | 50,241 | 33,978 | 4,944 |
Comprehensive (income) loss attributable to noncontrolling interests | (44,697) | (7,272) | 7,496 |
Comprehensive income attributable to National Storage Affiliates Trust | $ 5,544 | $ 26,706 | $ 12,440 |
CONSOLIDATED STATEMENT OF CHANG
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Thousands | Total | Common Shares [Member] | Preferred Shares [Member] | OP Units and Subordinated Performance Units [Member] | LTIP units [Member] | Subordinated Performance Units [Member] | OP Units [Member] | Preferred Shares [Member] | Preferred Shares [Member]Preferred Shares [Member] | Common Shares [Member] | Common Shares [Member]Common Shares [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member]Common Shares [Member] | Additional Paid-in Capital [Member]Preferred Shares [Member] | Distribution in Excess of Earnings [Member] | Accumulated Other Comprehensive Income [Member] | Noncontrolling Interests [Member] | Noncontrolling Interests [Member]OP Units and Subordinated Performance Units [Member] | Noncontrolling Interests [Member]LTIP units [Member] | Noncontrolling Interests [Member]Subordinated Performance Units [Member] | Noncontrolling Interests [Member]OP Units [Member] |
Balances (in shares) at Dec. 31, 2014 | 0 | ||||||||||||||||||||
Balances (in shares) at Dec. 31, 2014 | 1,000 | ||||||||||||||||||||
Balances at Dec. 31, 2014 | $ 214,104 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 214,104 | ||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||
Issuance of equity units | $ 42,113 | $ 1,402 | $ 1,416 | $ 42,113 | $ 1,402 | $ 1,416 | |||||||||||||||
Noncontrolling interests in acquired subsidiaries | 21,137 | 21,137 | |||||||||||||||||||
Redemption of common shares (in shares) | (1,000) | ||||||||||||||||||||
Redemption of common shares | 0 | ||||||||||||||||||||
Issuance of shares, net of offering costs (in shares) | 23,000,000 | ||||||||||||||||||||
Issuance of shares, net of offering costs | $ 270,945 | $ 230 | $ 270,715 | ||||||||||||||||||
Issuance of common shares, share based compensation plans (in shares) | 4,751 | ||||||||||||||||||||
Issuance of common shares, share based compensation plans | 0 | ||||||||||||||||||||
Effect of changes in ownership for consolidated entities | 0 | (34,376) | 34,376 | ||||||||||||||||||
Equity-based compensation expense | 3,027 | 74 | 2,953 | ||||||||||||||||||
Issuance of LTIP units for acquisition expenses | 1,020 | 1,020 | |||||||||||||||||||
Issuance of restricted common shares (in shares) | 17,210 | ||||||||||||||||||||
Issuance of restricted common shares | 0 | ||||||||||||||||||||
Vesting and forfeitures of restricted common shares, net (in shares) | (6,210) | ||||||||||||||||||||
Vesting and forfeitures of restricted common shares, net | (21) | (21) | |||||||||||||||||||
Reduction in receivables from partners of OP | 1,589 | 1,589 | |||||||||||||||||||
Common share dividends | (12,429) | (12,429) | |||||||||||||||||||
Distributions to noncontrolling interests | (33,200) | (33,200) | |||||||||||||||||||
Other comprehensive (income) loss | 148 | 148 | |||||||||||||||||||
Net income (loss) | 4,796 | 12,440 | (7,644) | ||||||||||||||||||
Balances (in shares) at Dec. 31, 2015 | 0 | ||||||||||||||||||||
Balances (in shares) at Dec. 31, 2015 | 23,015,751 | ||||||||||||||||||||
Balances at Dec. 31, 2015 | 516,047 | $ 0 | $ 230 | 236,392 | 11 | 0 | 279,414 | ||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||
Issuance of equity units | 120,827 | 814 | 1,441 | 120,827 | 814 | 1,441 | |||||||||||||||
Redemptions of OP units (in shares) | 1,125,503 | ||||||||||||||||||||
Redemptions of OP units | 0 | $ 11 | 13,004 | (4) | (13,011) | ||||||||||||||||
Issuance of shares, net of offering costs (in shares) | 18,962,209 | ||||||||||||||||||||
Issuance of shares, net of offering costs | 376,414 | $ 190 | 376,224 | ||||||||||||||||||
Issuance of common shares, share based compensation plans (in shares) | 4,309 | ||||||||||||||||||||
Issuance of common shares, share based compensation plans | 0 | ||||||||||||||||||||
Effect of changes in ownership for consolidated entities | 0 | (49,349) | 288 | 49,061 | |||||||||||||||||
Equity-based compensation expense | 2,597 | 120 | 2,477 | ||||||||||||||||||
Issuance of LTIP units for acquisition expenses | 56 | 56 | |||||||||||||||||||
Issuance of restricted common shares (in shares) | 8,090 | ||||||||||||||||||||
Issuance of restricted common shares | 0 | ||||||||||||||||||||
Vesting and forfeitures of restricted common shares, net (in shares) | (5,500) | ||||||||||||||||||||
Vesting and forfeitures of restricted common shares, net | (26) | (26) | |||||||||||||||||||
Reduction in receivables from partners of OP | 1,375 | 1,375 | |||||||||||||||||||
Common share dividends | (26,695) | (26,695) | |||||||||||||||||||
Distributions to noncontrolling interests | (47,760) | (47,760) | |||||||||||||||||||
Other comprehensive (income) loss | 9,112 | 8,741 | 371 | ||||||||||||||||||
Net income (loss) | $ 24,866 | 17,965 | 6,901 | ||||||||||||||||||
Balances (in shares) at Dec. 31, 2016 | 0 | 0 | |||||||||||||||||||
Balances (in shares) at Dec. 31, 2016 | 43,110,362 | 43,110,362 | |||||||||||||||||||
Balances at Dec. 31, 2016 | $ 979,068 | $ 0 | $ 431 | 576,365 | (8,719) | 9,025 | 401,966 | ||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||
Issuance of equity units | $ 29,900 | $ 854 | $ 7,000 | $ 1,262 | $ 29,900 | $ 854 | $ 7,000 | $ 1,262 | |||||||||||||
Redemptions of OP units (in shares) | 1,409,715 | ||||||||||||||||||||
Redemptions of OP units | 0 | $ 14 | 18,389 | 289 | (18,692) | ||||||||||||||||
Issuance of shares, net of offering costs (in shares) | 219,701 | 6,900,000 | 5,750,000 | ||||||||||||||||||
Issuance of shares, net of offering costs | $ 140,261 | $ 166,566 | $ 172,500 | $ 58 | $ 140,203 | $ (5,934) | |||||||||||||||
Issuance of common shares, share based compensation plans (in shares) | 6,862 | ||||||||||||||||||||
Effect of changes in ownership for consolidated entities | 0 | (17,749) | 385 | 17,364 | |||||||||||||||||
Equity-based compensation expense | 3,764 | 244 | 3,520 | ||||||||||||||||||
Issuance of LTIP units for acquisition expenses | 15 | 15 | |||||||||||||||||||
Issuance of restricted common shares (in shares) | 16,525 | ||||||||||||||||||||
Issuance of restricted common shares | 0 | ||||||||||||||||||||
Vesting and forfeitures of restricted common shares, net (in shares) | (8,530) | ||||||||||||||||||||
Vesting and forfeitures of restricted common shares, net | (51) | (51) | |||||||||||||||||||
Reduction in receivables from partners of OP | 812 | 812 | |||||||||||||||||||
Preferred share dividends | (2,300) | (2,300) | |||||||||||||||||||
Common share dividends | (47,671) | (47,671) | |||||||||||||||||||
Distributions to noncontrolling interests | (58,234) | (58,234) | |||||||||||||||||||
Other comprehensive (income) loss | 4,243 | 2,583 | 1,660 | ||||||||||||||||||
Net income (loss) | $ 45,998 | 2,961 | 43,037 | ||||||||||||||||||
Balances (in shares) at Dec. 31, 2017 | 6,900,000 | 6,900,000 | |||||||||||||||||||
Balances (in shares) at Dec. 31, 2017 | 50,284,934 | 50,284,934 | |||||||||||||||||||
Balances at Dec. 31, 2017 | $ 1,271,487 | $ 172,500 | $ 503 | $ 711,467 | $ (55,729) | $ 12,282 | $ 430,464 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income | $ 45,998 | $ 24,866 | $ 4,796 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 75,115 | 55,064 | 40,651 |
Amortization of debt issuance costs | 2,175 | 1,955 | 2,714 |
Amortization of debt discount and premium, net | (1,570) | (2,051) | (1,747) |
Loss on debt extinguishment | 0 | 136 | 414 |
Unrealized loss on fair value of derivatives | 0 | 0 | 68 |
Gain on sale of self storage properties | (5,715) | 0 | 0 |
LTIP units issued for acquisition expenses | 0 | 56 | 1,020 |
Equity-based compensation expense | 3,764 | 2,597 | 3,027 |
Equity in losses of unconsolidated real estate venture | 2,339 | 1,484 | 0 |
Distributions from unconsolidated real estate venture | 5,093 | 730 | 0 |
Change in assets and liabilities, net of effects of self storage property acquisitions: | |||
Other assets | (2,398) | (1,994) | (680) |
Accounts payable and accrued liabilities | 1,200 | 8,386 | 269 |
Deferred revenue | (1,713) | 3,417 | (198) |
Net Cash Provided by Operating Activities | 124,288 | 94,646 | 50,334 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Acquisition of self storage properties | (391,619) | (532,030) | (170,180) |
Capital expenditures | (14,656) | (11,418) | (4,072) |
Investments in and advances to unconsolidated real estate venture | (15,289) | (82,950) | 0 |
Distributions from unconsolidated real estate venture | 250 | 0 | 0 |
Acquisition of property management platform | 0 | (19,933) | 0 |
Deposits and advances for self storage property and other acquisitions | (4,923) | (345) | (738) |
Expenditures for corporate furniture, equipment and other | (588) | (527) | (418) |
Net proceeds from sale of self storage properties | 17,534 | 4,823 | 0 |
Net Cash Used In Investing Activities | (409,291) | (642,380) | (175,408) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Proceeds from issuance of common shares | 140,261 | 378,281 | 278,070 |
Proceeds from issuance of preferred shares | 166,566 | 0 | 0 |
Proceeds from issuance of subordinated performance units | 7,000 | 0 | 0 |
Borrowings under debt financings | 760,900 | 812,500 | 258,443 |
Receipts for OP unit subscriptions | 1,150 | 1,344 | 1,015 |
Collection of receivables from issuance of OP equity | 0 | 930 | 774 |
Principal payments under debt financings | (679,104) | (558,597) | (357,273) |
Payment of dividends to common shareholders | (47,671) | (26,695) | (12,429) |
Payment of dividends to preferred shareholders | (2,300) | 0 | 0 |
Distributions to noncontrolling interests | (57,314) | (47,005) | (37,992) |
Debt issuance costs | (2,381) | (5,665) | (1,848) |
Equity offering costs | (1,034) | (1,399) | (5,438) |
Net Cash Provided by Financing Activities | 286,073 | 553,694 | 123,322 |
Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash | 1,070 | 5,960 | (1,752) |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH | |||
Beginning of year | 15,337 | 9,377 | 11,129 |
End of year | 16,407 | 15,337 | 9,377 |
Supplemental Cash Flow Information | |||
Cash paid for interest | 32,951 | 23,313 | 20,206 |
Consideration exchanged in property acquisitions: | |||
Issuance of OP units and subordinated performance units | 30,327 | 120,952 | 42,113 |
Deposits on acquisitions applied to purchase price | 350 | 631 | 745 |
LTIP units vesting upon acquisition of properties | 854 | 814 | 1,402 |
Assumption of mortgages payable | 0 | 61,628 | 73,498 |
Note payable to related party to settle assumed mortgages | 0 | 0 | 5,342 |
Other net liabilities assumed | 3,616 | 4,817 | 511 |
Notes receivable settled upon acquisition of properties | 0 | 0 | 1,778 |
Fair value of noncontrolling interests in acquired subsidiaries | 0 | 0 | 21,137 |
Issuance of OP unit subscription liability through reduced distributions | 1,262 | 1,441 | 1,416 |
Settlement of acquisition receivables through reduced distributions | 812 | 445 | 1,473 |
Increase in OP unit subscription liability through reduced distributions | 108 | 310 | 498 |
Increase (decrease) in payables for offering costs | 600 | 593 | (1,379) |
Settlement of offering expenses from equity issuance proceeds | $ 12,299 | $ 11,673 | $ 20,930 |
ORGANIZATION AND NATURE OF OPER
ORGANIZATION AND NATURE OF OPERATIONS | 12 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND NATURE OF OPERATIONS | ORGANIZATION AND NATURE OF OPERATIONS National Storage Affiliates Trust was organized in the state of Maryland on May 16, 2013 and is a fully integrated, self-administered and self-managed real estate investment trust focused on the self storage sector. As used herein, "NSA," the "Company," "we," "our," and "us" refers to National Storage Affiliates Trust and its consolidated subsidiaries, except where the context indicates otherwise. The Company completed its initial public offering on April 28, 2015 and has elected and believes that it has qualified to be taxed as a real estate investment trust for U.S. federal income tax purposes ("REIT") commencing with its taxable year ended December 31, 2015. Through its controlling interest as the sole general partner of NSA OP, LP (its "operating partnership"), a Delaware limited partnership formed on February 13, 2013, the Company is focused on the ownership, operation, and acquisition of self storage properties located within the top 100 metropolitan statistical areas ("MSAs") in the United States. Pursuant to the Agreement of Limited Partnership (as amended, the "LP Agreement") of its operating partnership, the Company's operating partnership is authorized to issue Class A Units ("OP units"), different series of Class B Units ("subordinated performance units"), and Long-Term Incentive Plan Units ("LTIP units"). The Company also owns certain of its self storage properties through other consolidated limited partnership subsidiaries of its operating partnership, which the Company refers to as "DownREIT partnerships." The DownREIT partnerships issue equity ownership interests that are intended to be economically equivalent to the Company's OP units ("DownREIT OP units") and subordinated performance units ("DownREIT subordinated performance units"). The Company owned 444 self storage properties in 26 states with approximately 27.2 million rentable square feet (unaudited) in approximately 215,000 storage units as of December 31, 2017 . These properties are managed with local operational focus and expertise by the Company and its participating regional operators ("PROs"). These PROs are SecurCare Self Storage, Inc. and its controlled affiliates ("SecurCare"), Kevin Howard Real Estate Inc., d/b/a Northwest Self Storage and its controlled affiliates ("Northwest"), Optivest Properties LLC and its controlled affiliates ("Optivest"), Guardian Storage Centers LLC and its controlled affiliates ("Guardian"), Move It Self Storage and its controlled affiliates ("Move It"), Arizona Mini Storage Management Company d/b/a Storage Solutions and its controlled affiliates ("Storage Solutions"), Hide-Away Storage Services, Inc. and its controlled affiliates ("Hide-Away") and an affiliate of Shader Brothers Corporation d/b/a Personal Mini Storage ("Personal Mini"). |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements are presented on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles ("GAAP"). Principles of Consolidation The Company's consolidated financial statements include the accounts of its operating partnership and its controlled subsidiaries. All significant intercompany balances and transactions have been eliminated in the consolidation of entities. When the Company obtains an economic interest in an entity, the Company evaluates the entity to determine if the entity is deemed a variable interest entity ("VIE"), and if the Company is deemed to be the primary beneficiary, in accordance with authoritative guidance issued on the consolidation of VIEs. When an entity is not deemed to be a VIE, the Company considers the provisions of additional guidance to determine whether the general partner controls a limited partnership or similar entity when the limited partners have certain rights. The Company consolidates all entities that are VIEs and of which the Company is deemed to be the primary beneficiary. The Company has determined that its operating partnership is a VIE. The sole significant asset of National Storage Affiliates Trust is its investment in its operating partnership, and consequently, substantially all of the Company's assets and liabilities represent those assets and liabilities of its operating partnership. As of December 31, 2017 , the Company's operating partnership was the primary beneficiary of, and therefore consolidated, 21 DownREIT partnerships that are considered VIEs, which owned 34 self storage properties. The net book value of the real estate owned by these VIEs was $248.0 million and $256.8 million as of December 31, 2017 and December 31, 2016 , respectively. For certain DownREIT partnerships which are subject to fixed rate mortgages payable, the carrying value of such fixed rate mortgages payable held by these VIEs was $140.3 million and $41.4 million as of December 31, 2017 and December 31, 2016 , respectively. The creditors of the consolidated VIEs do not have recourse to the Company's general credit. Noncontrolling Interests All of the limited partner equity interests in its operating partnership not held by the Company are reflected as noncontrolling interests. Noncontrolling interests also include ownership interests in DownREIT partnerships held by entities other than the Company's operating partnership. In the consolidated statements of operations, the Company allocates net income (loss) attributable to noncontrolling interests to arrive at net income (loss) attributable to National Storage Affiliates Trust. For transactions that result in changes to the Company's ownership interest in its operating partnership, the carrying amount of noncontrolling interests is adjusted to reflect such changes. The difference between the fair value of the consideration received or paid and the amount by which the noncontrolling interests is adjusted is reflected as an adjustment to additional paid-in capital on the consolidated balance sheets. Self Storage Properties Self storage properties are carried at historical cost less accumulated depreciation and any impairment losses. Major replacements and betterments, which improve or extend the life of an asset, are capitalized. Expenditures for ordinary repairs and maintenance are expensed as incurred and are included in property operating expenses. Estimated depreciable lives of self storage properties are determined by considering the age and other indicators about the condition of the assets at the respective dates of acquisition, resulting in a range of estimated useful lives for assets within each category. All self storage property assets are depreciated using the straight-line method. Buildings and improvements are depreciated over estimated useful lives primarily between seven and 40 years ; furniture and equipment are depreciated over estimated useful lives primarily between three and 10 years . When a self storage property is acquired, the purchase price of the acquired self storage property is allocated to land, buildings and improvements, furniture and equipment, customer in-place leases, assumed real estate leasehold interests, other assets acquired and liabilities assumed, based on the estimated fair value of each component. When a portfolio of self storage properties is acquired, the purchase price is allocated to the individual self storage properties based on the fair value determined using an income approach with appropriate risk-adjusted capitalization rates, which take into account the relative size, age and location of the individual self storage properties. Cash and Cash Equivalents The Company considers all highly-liquid investments purchased with original maturities of three months or less to be cash equivalents. From time to time, the Company maintains cash balances in financial institutions in excess of federally insured limits. The Company has never experienced a loss that resulted from exceeding federally insured limits. Restricted Cash The Company's restricted cash consists of escrowed funds deposited with financial institutions for real estate taxes, insurance and other reserves for capital improvements in accordance with the Company's loan agreements. Customer In-place Leases In allocating the purchase price for a self storage property acquisition, the Company determines whether the acquisition includes intangible assets. The Company allocates a portion of the purchase price to an intangible asset attributed to the value of customer in-place leases. This intangible asset is amortized to expense using the straight-line method over 12 months , the estimated average rental period for the Company's customers. Amortization expense for customer in-place leases amounted to $13.5 million , $12.0 million and $12.0 million for the years ended December 31, 2017 , 2016 and 2015 , respectively. Substantially all of the leases in place at acquired properties are at market rates, as the leases are month-to-month contracts. Impairment of Long-Lived Assets The Company evaluates long-lived assets for impairment when events and circumstances indicate that there may be impairment. When events or changes in circumstances indicate that the Company's long-lived assets may not be recoverable, the carrying value of these long-lived assets is compared to the undiscounted future net operating cash flows, plus a terminal value attributable to the assets. If an asset's carrying value is not considered recoverable, an impairment loss is recorded to the extent the net carrying value of the asset exceeds the fair value. For the periods presented, no assets were determined to be impaired under this policy. Costs of Raising Capital Commissions, legal fees and other costs that are directly associated with equity offerings are capitalized as deferred offering costs, pending a determination of the success of the offering. Deferred offering costs related to successful offerings are charged to additional paid-in capital within equity in the period it is determined that the offering was successful. Debt issuance costs are amortized over the estimated life of the related debt using the straight-line method, which approximates the effective interest rate method. Amortization of debt issuance costs is included in interest expense in the accompanying statements of operations. Revenue Recognition Management has determined that all of the Company's leases are operating leases. Substantially all leases may be terminated on a month-to-month basis and rental income is recognized ratably over the lease term using the straight-line method. Rents received in advance are deferred and recognized on a straight-line basis over the related lease term associated with the prepayment. Promotional discounts and other incentives are recognized as a reduction to rental income over the applicable lease term. Other property-related revenue consists of ancillary revenues such as tenant insurance-related access fees and commissions and sales of storage supplies which are recognized in the period earned. The Company recognizes gains from disposition of facilities only upon closing in accordance with the guidance on sales of real estate. Payments received from purchasers prior to closing are recorded as deposits. Profit on real estate sold is recognized using the full accrual method upon closing when the collectability of the sales price is reasonably assured and the Company is not obligated to perform significant activities after the sale. Profit may be deferred in whole or part until the sale meets the requirements of profit recognition on sales under this guidance. The Company earns management and other fees for managing and operating its unconsolidated real estate venture. These fees include property management fees, call center fees, platform fees, acquisition fees, development fees and a portion of tenant warranty protection proceeds. The Company recognizes these fees when they are earned, fixed and determinable. The fees are reported in management fees and other revenue in the Company's consolidated statements of operations. Advertising Costs The Company incurs advertising costs primarily attributable to internet, directory and other advertising. Advertising costs are included in property operating expenses in the accompanying statements of operations. These costs are expensed in the period in which the cost is incurred. The Company incurred advertising costs of $3.7 million , $3.1 million and $2.4 million for the years ended December 31, 2017 , 2016 and 2015 , respectively. Acquisition Costs The Company incurs title, legal and consulting fees, and other costs associated with the completion of acquisitions. During the year ended December 31, 2017, the Company adopted Accounting Standards Update ("ASU") 2017-01 and as a result, the Company's self storage property acquisitions during the year ended December 31, 2017 were accounted for as asset acquisitions, and accordingly, acquisition costs directly related to the self storage property acquisitions were capitalized as part of the basis of the acquired properties. Indirect acquisition costs remain included in acquisition costs in the accompanying statements of operations in the period in which they were incurred. Prior to the Company's adoption of ASU 2017-01, direct and indirect costs were included in acquisition costs in the accompanying statements of operations in the period in which they were incurred. Income Taxes Through December 31, 2014, the Company did not have a profit and loss sharing interest in its operating partnership and did not have any other operations that were subject to taxation. Accordingly, the Company did not generate a federal income tax benefit or expense for the period from its inception through December 31, 2014. The Company has elected and believes it has qualified to be taxed as a REIT under sections 856 through 860 of the U.S. Internal Revenue Code (the "Code") commencing with the taxable year ended December 31, 2015. To qualify as a REIT, among other things, the Company is required to distribute at least 90% of its REIT taxable income to its shareholders and meet certain tests regarding the nature of its income and assets. As a REIT, the Company is not subject to federal income tax on the earnings distributed currently to its shareholders that it derives from its REIT qualifying activities. If the Company fails to qualify as a REIT in any taxable year, and is unable to avail itself of certain provisions set forth in the Code, all of the Company's taxable income would be subject to federal and state income taxes at regular corporate rates. The Company will not be required to make distributions with respect to income derived from the activities conducted through subsidiaries that the Company elects to treat as taxable REIT subsidiaries ("TRS") for federal income tax purposes. Certain activities that the Company undertakes must be conducted by a TRS, such as performing non-customary services for its customers, facilitating sales by PROs of tenant insurance and holding assets that the Company is not permitted to hold directly. A TRS is subject to federal and state income taxes. On June 25, 2014, the Company formed NSA TRS, LLC ("NSA TRS"), a Delaware limited liability company. The Company has elected to treat NSA TRS as a TRS, and consequently, NSA TRS is subject to U.S. federal and state corporate income taxes. Deferred tax assets and liabilities are recognized to the extent of any differences between the financial reporting and tax bases of assets and liabilities. No material deferred tax assets and liabilities were recorded as of December 31, 2017 and 2016 . The Company did not have any unrecognized tax benefits related to uncertain tax positions as of December 31, 2017 and 2016 . Future amounts of accrued interest and penalties, if any, related to uncertain tax positions will be recorded as a component of income tax expense. The Company does not expect that the amount of unrecognized tax benefits will change significantly in the next 12 months. The Company's material taxing jurisdiction is the U.S. federal jurisdiction; the 2014 tax year is the earliest period that remains open to examination by these taxing jurisdictions. Earnings per Share Basic earnings per share is calculated based on the weighted average number of the Company's common shares of beneficial interest, $0.01 par value per share ("common shares"), outstanding during the period. Diluted earnings per share is calculated by further adjusting for the dilutive impact using the treasury stock method for any share options and unvested share equivalents outstanding during the period and the if-converted method for any convertible securities outstanding during the period. As more fully described below under " –Allocation of Net Income (Loss)" , the Company allocates GAAP income (loss) utilizing the hypothetical liquidation at book value ("HLBV") method, which could result in net income (or net loss) attributable to National Storage Affiliates Trust during a period when the Company reports consolidated net loss (or net income), or net income (or net loss) attributable to National Storage Affiliates Trust in excess of the Company's consolidated net income (or net loss). The computations of basic and diluted earnings (loss) per share may be materially affected by these disproportionate income (loss) allocations, resulting in volatile fluctuations of basic and diluted earnings (loss) per share. Equity-Based Awards The measurement and recognition of compensation cost for all equity-based awards granted to officers, employees and consultants is based on estimated fair values. Compensation cost is recognized on a straight-line basis over the requisite service periods of each award with non-graded vesting. For awards granted which contain a graded vesting schedule and the only condition for vesting is a service condition, compensation cost is recognized as an expense on a straight-line basis over the requisite service period as if the award was, in substance, a single award. For awards granted for which vesting is subject to a performance condition, including awards that vested upon completion of the Company's initial public offering, compensation cost is recognized over the requisite service period if and when the Company concludes it is probable that the performance condition will be achieved. The estimated fair value of all equity-based awards issued to PROs and their affiliates in connection with self storage property acquisitions is included in the cost of the respective acquisitions. The estimated fair value of such awards is measured at the date the self storage properties are acquired, as this date represents satisfaction of the performance condition and coincides with the award vesting. Derivative Financial Instruments The Company carries all derivative financial instruments on the balance sheet at fair value. Fair value of derivatives is determined by reference to observable prices that are based on inputs not quoted on active markets, but corroborated by market data. The accounting for changes in the fair value of a derivative instrument depends on whether the derivative has been designated and qualifies as part of a hedging relationship. The Company's use of derivative instruments has been limited to interest rate swap and cap agreements. The fair values of derivative instruments are included in other assets and accounts payable and accrued liabilities in the accompanying balance sheets. For derivative instruments not designated as cash flow hedges, the unrealized gains and losses are included in interest expense in the accompanying statements of operations. For derivatives designated as cash flow hedges, the effective portion of the changes in the fair value of the derivatives is initially reported in accumulated other comprehensive income (loss) in the Company's balance sheets and subsequently reclassified into earnings when the hedged transaction affects earnings. The valuation of interest rate swap and cap agreements is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of future interest rates (forward curves) derived from observable market interest rate forward curves. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. Fair Value Measurements When measuring fair value of financial instruments that are required to be recorded or disclosed at fair value, the Company uses a three-tier measurement hierarchy which prioritizes the inputs used to calculate fair value. These tiers include Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. Investments in Unconsolidated Real Estate Venture The Company’s investment in its unconsolidated real estate venture is recorded under the equity method of accounting in the accompanying consolidated financial statements. Under the equity method, the Company’s investment in real estate venture is stated at cost and adjusted for the Company’s share of net earnings or losses and reduced by distributions. Equity in earnings (losses) is recognized based on the Company’s ownership interest in the earnings (losses) of the unconsolidated real estate venture. The Company follows the "look through" approach for classification of distributions from joint ventures in its consolidated statements of cash flows. Under this approach, distributions are reported under operating cash flow unless the facts and circumstances of a specific distribution clearly indicate that it is a return of capital (e.g., proceeds from the unconsolidated real estate venture’s sale of assets), in which case it is reported as an investing activity. Segment Reporting The Company manages its business as one reportable segment consisting of investments in self storage properties located in the United States. Although the Company operates in several markets, these operations have been aggregated into one reportable segment based on the similar economic characteristics amongst all markets. Reclassifications Certain amounts in the consolidated financial statements and related notes have been reclassified to conform to the current year presentation. Such reclassifications do not impact the Company's previously reported financial position or net income (loss). Allocation of Net Income (Loss) The distribution rights and priorities set forth in the operating partnership's LP Agreement differ from what is reflected by the underlying percentage ownership interests of the unitholders. Accordingly, the Company allocates GAAP income (loss) utilizing the HLBV method, in which the Company allocates income or loss based on the change in each unitholders’ claim on the net assets of its operating partnership at period end after adjusting for any distributions or contributions made during such period. The HLBV method is commonly applied to equity investments where cash distribution percentages vary at different points in time and are not directly linked to an equity holder’s ownership percentage. The HLBV method is a balance sheet-focused approach to income (loss) allocation. A calculation is prepared at each balance sheet date to determine the amount that unitholders would receive if the operating partnership were to liquidate all of its assets (at GAAP net book value) and distribute the resulting proceeds to its creditors and unitholders based on the contractually defined liquidation priorities. The difference between the calculated liquidation distribution amounts at the beginning and the end of the reporting period, after adjusting for capital contributions and distributions, is used to derive each unitholder's share of the income (loss) for the period. Due to the stated liquidation priorities and because the HLBV method incorporates non-cash items such as depreciation expense, in any given period, income or loss may be allocated disproportionately to unitholders as compared to their respective ownership percentage in the operating partnership, and net income (loss) attributable to National Storage Affiliates Trust could be more or less net income than actual cash distributions received and more or less income or loss than what may be received in the event of an actual liquidation. Additionally, the HLBV method could result in net income (or net loss) attributable to National Storage Affiliates Trust during a period when the Company reports consolidated net loss (or net income), or net income (or net loss) attributable to National Storage Affiliates Trust in excess of the Company's consolidated net income (or net loss). The computations of basic and diluted earnings (loss) per share may be materially affected by these disproportionate income (loss) allocations, resulting in volatile fluctuations of basic and diluted earnings (loss) per share. Other Comprehensive Income (Loss) The Company has cash flow hedge derivative instruments that are measured at fair value with unrealized gains or losses recognized in other comprehensive income (loss) with a corresponding adjustment to accumulated other comprehensive income (loss) within equity, as discussed further in Note 13. Under the HLBV method of allocating income (loss) discussed above, a calculation is prepared at each balance sheet date by applying the HLBV method including, and excluding, the assets and liabilities resulting from the Company's cash flow hedge derivative instruments to determine comprehensive income (loss) attributable to National Storage Affiliates Trust. As a result of the distribution rights and priorities set forth in the operating partnership's LP Agreement, in any given period, other comprehensive income (loss) may be allocated disproportionately to unitholders as compared to their respective ownership percentage in the operating partnership and as compared to their respective allocation of net income (loss). Assets Held For Sale The Company classifies properties as held for sale when certain criteria are met. At such time, the properties, including significant assets and liabilities that are expected to be transferred as part of a sale transaction, are presented separately on the consolidated balance sheet at the lower of carrying value or estimated fair value less costs to sell and depreciation is no longer recognized. As of December 31, 2017 and 2016, the Company had one and two self storage properties classified as held for sale, respectively. The results of operations for the self storage properties classified as held for sale are reflected within income from operations in the Company's consolidated statements of operations. Goodwill Goodwill represents the costs of business acquisitions in excess of the fair value of identifiable net assets acquired. The Company evaluates goodwill for potential impairment annually, or whenever impairment indicators are present. The Company determined that there was no impairment to goodwill during the years ended December 31, 2017 and 2016. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The Company has completed its analysis of ASU 2014-09 and concluded that its adoption of ASU 2014-09 will not have a material effect on its consolidated financial statements and related disclosures. The Company adopted ASU 2014-09 effective January 1, 2018. In February 2016, the FASB issued ASU 2016-02, Leases, which amends the existing guidance for accounting for leases, including requiring lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases and lessees to recognize most leases on-balance sheet as lease liabilities with corresponding right-of-use assets. The Company will adopt ASU 2016-02 effective January 1, 2019. ASU 2016-02 requires a modified retrospective approach, with entities applying the new guidance at the beginning of the earliest period presented in the financial statements in which they first apply the new standard, with certain elective transition relief. The Company is evaluating the effect that ASU 2016-02 will have on its operating leases, consolidated financial statements and related disclosures. The Company expects ASU 2016-02 to primarily impact its accounting for its non-cancelable leasehold interest agreements in which it serves as the lessee. See Note 12 for additional information about the Company's non-cancelable leasehold interest agreements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows, which clarifies the classification of certain cash receipts and cash payments in the statement of cash flows, including debt prepayment or extinguishment costs, settlement of contingent consideration arising from a business combination, insurance settlement proceeds, and distributions from certain equity method investees. The Company adopted ASU 2016-15 effective January 1, 2017, which did not result in any changes to the presentation of amounts shown on the Company's consolidated statements of cash flows to all periods presented. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows - Restricted Cash, that requires the inclusion of 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. The Company adopted ASU 2016-18 effective January 1, 2017, which resulted in the inclusion of the Company's restricted cash balances along with cash and cash equivalents in the Company's consolidated statement of cash flows and separate line items showing changes in restricted cash balances were eliminated from the Company's consolidated statements of cash flows. ASU 2016-18 was applied retrospectively to all periods presented. In August 2017, the FASB issued ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities, which amends the existing GAAP hedge accounting recognition and presentation requirements. ASU 2017-12 is effective for the Company on January 1, 2019, with early adoption permitted. The Company has completed its analysis of ASU 2017-12 and concluded that its adoption of ASU 2017-12 will not have a material effect on its consolidated financial statements and related disclosures. The Company early adopted ASU 2017-12 effective January 1, 2018. |
SHAREHOLDERS' EQUITY AND NONCON
SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS | 12 Months Ended |
Dec. 31, 2017 | |
Equity [Abstract] | |
SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS | SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS Shareholders' Equity The Company completed its initial public offering on April 28, 2015, pursuant to which it sold 23,000,000 of its common shares, at a price of $13.00 per share, which included 3,000,000 common shares sold upon the exercise in full by the underwriters of their option to purchase additional shares. These transactions resulted in net proceeds to the Company of approximately $278.1 million , after deducting the underwriting discount and before additional expenses associated with the offering. Common Share Offerings On December 11, 2017, the Company closed a follow-on public offering of 5,750,000 of its common shares, which included 750,000 common shares sold upon the exercise in full by the underwriters of their option to purchase additional common shares, at a public offering price of $ 25.50 per share. The Company received aggregate net proceeds from the offering of approximately $140.3 million after deducting the underwriting discount and additional expenses associated with the offering. On July 6, 2016, the Company closed a follow-on public offering of 12,046,250 of its common shares, which included 1,571,250 common shares sold upon the exercise in full by the underwriters of their option to purchase additional common shares, at a public offering price of $20.75 per share. The Company received aggregate net proceeds from the offering of approximately $237.5 million after deducting the underwriting discount and additional expenses associated with the offering. On December 16, 2016, the Company closed a follow-on offering of 5,175,000 of its common shares, which included 675,000 common shares sold upon the exercise in full by the underwriters of their option to purchase additional common shares, at an offering price of $20.48 per share. The Company received aggregate net proceeds from the offering of approximately $105.5 million after deducting the underwriting discount and additional expenses associated with the offering. At the Market ("ATM") Program On October 11, 2016, the Company entered into open market sales agreements with four agents, pursuant to which the Company may sell from time to time up to $200 million of the Company's common shares in sales deemed to be "at the market offerings." The Company may offer the common shares through the agents, as sales agents, or to the agents, acting as principals by means of, among others, ordinary brokers’ transactions on the NYSE or otherwise at market prices prevailing at the time of sale or at negotiated prices. During the year ended December 31, 2016 , the Company sold 1,740,959 of its common shares through the ATM program. The common shares were sold at an average offering price of $19.54 per share, resulting in net proceeds to the Company of approximately $33.6 million after deducting compensation payable by the Company to such agents, but before expenses. Series A Preferred Share Offering On October 11, 2017, the Company completed an underwritten public offering of 6,900,000 of its 6.000% Series A Preferred Shares, which included 900,000 Series A Preferred Shares sold upon the exercise in full by the underwriters of their option to purchase additional Series A Preferred Shares, resulting in net proceeds to the Company of approximately $ 166.6 million , after deducting the underwriting discount and the Company's other offering expenses. Dividends on the Series A Preferred Shares, which are payable quarterly in arrears, are cumulative from the date of original issuance in the amount of $1.50 per share each year. The Series A Preferred Shares rank senior to our common shares with respect to dividend rights and rights upon our liquidation, dissolution or winding up. Generally, the Series A Preferred Shares become redeemable by the Company beginning in October 2022 for a cash redemption price of $ 25.00 per share, plus accrued but unpaid dividends. Noncontrolling Interests All of the limited partner equity interests in the Company's operating partnership not held by the Company are reflected as noncontrolling interests. Noncontrolling interests also include ownership interests in DownREIT partnerships held by entities other than the Company's operating partnership. NSA is the general partner of its operating partnership and is authorized to cause its operating partnership to issue additional partner interests, including OP units and subordinated performance units, at such prices and on such other terms as it determines in its sole discretion. As of December 31, 2017 and 2016 , units reflecting noncontrolling interests consisted of the following: December 31, 2017 2016 OP units 26,719,607 26,125,444 Subordinated performance units 11,604,738 11,022,378 LTIP units 771,396 1,543,905 DownREIT units DownREIT OP units 1,834,786 1,834,786 DownREIT subordinated performance units 4,386,999 4,386,999 Total 45,317,526 44,913,512 OP Units and DownREIT OP units OP units in the Company's operating partnership are redeemable for cash or, at the Company's option, exchangeable for common shares on a one -for-one basis, and DownREIT OP units are redeemable for cash or, at the Company's option, exchangeable for OP units in its operating partnership on a one -for-one basis, subject to certain adjustments in each case. The holders of OP units are generally not entitled to elect redemption until one year after the issuance of the OP units. The holders of DownREIT OP units are generally not entitled to elect redemption until five years after the date of the contributor's initial contribution. Accordingly, these limited partner interests are included in noncontrolling interests within equity in the accompanying balance sheets as of December 31, 2017 and 2016 . The increase in OP Units outstanding from December 31, 2016 to December 31, 2017 was due to 1,022,718 OP units issued in connection with the acquisition of self storage properties and 992,210 LTIP units which were converted into OP units, as discussed further below, partially offset by the redemption of 1,409,715 OP units and 11,050 OP units which were converted into subordinated performance units. Subordinated Performance Units and DownREIT Subordinated Performance Units Subordinated performance units may also, under certain circumstances, be convertible into OP units which are exchangeable for common shares as described above, and DownREIT subordinated performance units may, under certain circumstances, be exchangeable for subordinated performance units on a one -for-one basis. Subordinated performance units are only convertible into OP units after a two year lock-out period and then generally (i) at the holder’s election only upon the achievement of certain performance thresholds relating to the properties to which such subordinated performance units relate or (ii) at the Company's election upon a retirement event of a PRO that holds such subordinated performance units or upon certain qualifying terminations. The holders of DownREIT subordinated performance units are generally not entitled to elect redemption until at least five years after the date of the contributor's initial contribution. The increase in subordinated performance units outstanding from December 31, 2016 to December 31, 2017 was due to the issuance of 300,043 subordinated performance units to an affiliate of Personal Mini (the Company's chairman and chief executive officer, Arlen D. Nordhagen, has a noncontrolling minority ownership interest in this affiliate of Personal Mini), the issuance of 271,267 subordinated performance units in connection with the acquisition of self storage properties and 11,050 OP units which were converted into subordinated performance units. LTIP Units LTIP units are a special class of partnership interest in the Company's operating partnership that allow the holder to participate in the ordinary and liquidating distributions received by holders of the OP units (subject to the achievement of specified levels of profitability by the Company's operating partnership or the achievement of certain events). LTIP units may also, under certain circumstances, be convertible into OP units on a one -for-one basis, which are then exchangeable for common shares as described above. LTIP units do not have full parity with OP units with respect to liquidating distributions and may not receive ordinary distributions until such parity is reached pursuant to the terms of the LP Agreement. If such parity is reached under the LP Agreement, upon vesting, vested LTIP units may be converted into an equal number of OP units, and thereafter have all the rights of OP units, including redemption rights. See Note 9 for additional information about the Company's LTIP Units. The decrease in LTIP units outstanding from December 31, 2016 to December 31, 2017 was due to the conversion of 992,210 LTIP units into 992,210 OP units partially offset by the issuance of 219,701 compensatory LTIP units to employees, consultants and trustees. |
SELF STORAGE PROPERTIES
SELF STORAGE PROPERTIES | 12 Months Ended |
Dec. 31, 2017 | |
Real Estate [Abstract] | |
SELF STORAGE PROPERTIES | SELF STORAGE PROPERTIES Self storage properties are summarized as follows (dollars in thousands): December 31, 2017 2016 Land $ 528,304 $ 456,135 Buildings and improvements 1,741,459 1,383,603 Furniture and equipment 5,470 4,598 Total self storage properties 2,275,233 1,844,336 Less accumulated depreciation (170,358 ) (110,803 ) Self storage properties, net $ 2,104,875 $ 1,733,533 Depreciation expense related to self storage properties amounted to $60.5 million , $42.7 million and $28.5 million for the years ended December 31, 2017 , 2016 and 2015 , respectively. |
INVESTMENT IN UNCONSOLIDATED RE
INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURE | 12 Months Ended |
Dec. 31, 2017 | |
Equity Method Investments and Joint Ventures [Abstract] | |
INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURE | INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURE During the year ended December 31, 2016, the Company, through a newly formed subsidiary (the "NSA Member"), entered into an agreement to form an unconsolidated real estate venture (the "Joint Venture") with a state pension fund (the "JV Investor," together with the NSA Member, the "Members") advised by Heitman Capital Management LLC to acquire and operate the 66 -property "iStorage" facilities portfolio (the "JV Portfolio") for an aggregate purchase price of approximately $630.0 million (the "Acquisition"). On October 4, 2016, the Joint Venture completed its acquisition of the JV Portfolio. The Joint Venture financed the Acquisition with approximately $320.0 million in equity (approximately $80.0 million from the NSA Member in exchange for a 25% ownership interest and approximately $240.0 million from the JV Investor in exchange for a 75% ownership interest) with the balance of the purchase price funded using proceeds from new debt financing. During the year ended December 31, 2017 , the Joint Venture acquired five self storage properties with an aggregate fair value of $59.3 million . The Company contributed $14.9 million to the Joint Venture to fund the acquisitions. As of December 31, 2017. the Joint Venture portfolio consisted of 71 properties containing approximately 4.9 million rentable square feet (unaudited), configured in approximately 39,000 storage units and located across 13 states. A subsidiary of the Company is acting as the non-member manager of the Joint Venture (the "NSA Manager"). The Joint Venture pays certain customary fees to the Company for managing and operating the properties, including a monthly property management fee equal to 6% of gross revenues and net sales revenues from Joint Venture assets, an annual call center fee equal to 1% of monthly gross revenues and net sales revenues from Joint Venture assets, a monthly platform fee equal to $1,250 per Joint Venture property, an acquisition fee equal to 0.65% of the gross capitalization (including debt and equity) of the original JV Portfolio, of which one quarter is earned each year over the first four years of the Joint Venture, with an additional fee determined on a sliding scale for future acquisitions, and a development management fee for any development projects acquired by the Joint Venture equal to 3% of construction costs (excluding "soft costs"). An affiliate of the NSA Manager provides tenant warranty protection to tenants at the Joint Venture properties in exchange for 50% of all proceeds from the tenant warranty protection program at each Joint Venture property. During the year ended December 31, 2017 and December 31, 2016 , the Company earned $8.1 million and $1.8 million , respectively, of management and other fees for managing and operating its Joint Venture. The fees are reported in management fees and other revenue in the Company's consolidated statements of operations. The Company's investment in the Joint Venture is accounted for using the equity method of accounting and is included in investment in unconsolidated real estate venture in the Company’s consolidated balance sheets. The Company's investment in the unconsolidated real estate venture totaled $89.1 million and $81.5 million as of December 31, 2017 and December 31, 2016 , respectively. This investment includes $3.7 million of direct costs incurred by the Company primarily related to sourcing joint venture partner capital. Due to the nature of these costs, this additional investment basis is not amortized. The Company’s earnings (losses) from its investment in the Joint Venture is presented in equity in losses of unconsolidated real estate venture on the Company’s consolidated statements of operations and totaled $2.3 million and $1.5 million for the years ended December 31, 2017 and December 31, 2016 , respectively. The following tables present condensed financial information of the Joint Venture as of and for the year ended December 31, 2017 and as of and for the period ended December 31, 2016 (in thousands): December 31, 2017 December 31, 2016 ASSETS Self storage properties, net $ 655,973 $ 614,754 Other assets 8,397 19,936 Total assets $ 664,370 $ 634,690 LIABILITIES AND EQUITY Debt financing $ 317,359 $ 317,047 Other liabilities 4,855 4,498 Equity 342,156 313,145 Total liabilities and equity $ 664,370 $ 634,690 Year Ended Period Ended December 31, 2016 Total revenue $ 54,747 $ 12,197 Property operating expenses 18,463 3,850 Net operating income 36,284 8,347 Supervisory, administrative and other expenses (3,921 ) (949 ) Depreciation and amortization (29,192 ) (6,235 ) Interest expense (11,389 ) (2,823 ) Acquisition and other expenses (1,146 ) (4,277 ) Net loss $ (9,364 ) $ (5,937 ) Separately, the Company, through certain newly formed subsidiaries, agreed to acquire the iStorage property management platform related to the JV Portfolio, including a property management company, a captive insurance company, and related intellectual property for $20.0 million . On October 4, 2016, the Company completed its acquisition of the property management platform. The property management platform was accounted for as a business combination whereby the Company allocated the total purchase price to the estimated fair value of tangible and intangible assets acquired, and liabilities assumed. The Company allocated a portion of the purchase price to tangible fixed assets of $0.4 million and intangible assets consisting of the management contract with an estimated fair value of $10.6 million and the iStorage trade name with an estimated fair value of $3.2 million . The excess of the aggregate consideration paid for the property management platform over the identified assets acquired and liabilities assumed, equal to $5.8 million , was allocated to goodwill. The tangible and intangible assets related to the property management platform are reported in other assets, net in the Company's consolidated balance sheets. The Company’s fair value measurements were based, in part, on valuations prepared by an independent valuation firm and the allocation of the property management platform purchase price required a significant amount of judgment. The Company measured the fair value of the management contract based on discounted future cash flows expected under the management contract. Neither the management contract nor the Joint Venture have a finite term. Accordingly, the Company assigned probabilities to the term of the Joint Venture and the Company’s management relationship with the Joint Venture using the Company’s best estimates and assumptions. The management contract asset is charged to amortization expense on a straight-line basis over 15 years , which represents the time period over which the majority of value was attributed in the Company’s discounted cash flow model. The Company measured the fair value of the trade name, which has an indefinite life and is not amortized, using the relief from royalty method. The results of operations for the property management platform are included in the Company's statements of operations beginning on October 4, 2016. On an unaudited pro forma basis, after giving effect to the acquisition of the property management platform as if it was acquired on January 1, 2015, the Company would have recorded incremental additional revenue of $4.9 million and $6.3 million for the years ended December 31, 2016 and 2015, respectively, and incremental net income of $0.6 million and $0.7 million for the years ended December 31, 2016 and 2015, respectively. This pro forma information was prepared using the following significant assumptions: the Joint Venture acquired the JV Portfolio and the management contract was effective on January 1, 2015; the Company financed the purchase price of the property management platform through borrowings under its Revolver with interest computed based on the effective interest rate of 2.17% as of December 31, 2016; and assumed depreciation and amortization expense is based on the actual acquisition-date fair values and useful lives assigned to tangible fixed assets and the management contract. The unaudited pro forma information in the paragraph above does not purport to represent what the actual results of operations would have been for the periods indicated, nor does it purport to represent the Company's future results of operations. The pro forma information was prepared using audited and unaudited historical financial information related to the JV Portfolio obtained by the Company as part of its underwriting and due diligence process and does not give effect to any assumptions about improved operating performance of the JV Portfolio under the management of the NSA Manager nor does it give effect to potential property acquisitions by the Joint Venture, as such assumptions would require projections and estimates of management’s intentions that are not factually supportable. |
SELF STORAGE PROPERTY ACQUISITI
SELF STORAGE PROPERTY ACQUISITIONS AND DISPOSITIONS | 12 Months Ended |
Dec. 31, 2017 | |
Business Combinations [Abstract] | |
SELF STORAGE PROPERTY ACQUISITIONS AND DISPOSITIONS | SELF STORAGE PROPERTY ACQUISITIONS AND DISPOSITIONS Acquisitions The Company acquired 65 self storage properties with an estimated fair value of $426.8 million during the year ended December 31, 2017 and 107 self storage properties with an estimated fair value of $721.4 million during the year ended December 31, 2016 . During the year ended December 31, 2017 , 10 self storage properties with an estimated fair value of $73.2 million were acquired by the Company from its PROs and during the year ended December 31, 2016 , 23 self storage properties with an estimated fair value of $176.3 million were acquired by the Company from its PROs. The Company allocated the total purchase price to the estimated fair value of tangible and intangible assets acquired, and liabilities assumed for these self storage property acquisitions. The Company allocated a portion of the purchase price to identifiable intangible assets consisting of customer in-place leases which were recorded at estimated fair values of $10.5 million and $17.7 million during the years ended December 31, 2017 and 2016 , respectively, resulting in a total fair value of $416.3 million and $703.7 million allocated to real estate during the years ended December 31, 2017 and 2016 , respectively. As a result of the Company's adoption of ASU 2017-01 during the year ended December 31, 2017 , the 65 self storage properties acquired during the year ended December 31, 2017 were accounted for as asset acquisitions and accordingly, $3.6 million of acquisition costs related to the acquisitions were capitalized as part of the basis of the acquired properties. The following table summarizes, by calendar quarter, the investments in self storage property acquisitions completed by the Company during the year s ended December 31, 2017 and 2016 (dollars in thousands): Acquisitions closed during the Three Months Ended: Summary of Investment Number of Properties Cash and Acquisition Costs Value of OP Equity (1) Liabilities Assumed Total Mortgages (2) Other March 31, 2017 5 $ 26,780 $ 4,964 $ — $ 183 $ 31,927 June 30, 2017 10 60,672 8,931 — 387 69,990 September 30, 2017 19 122,742 267 — 826 123,835 December 31, 2017 31 181,809 17,019 — 2,220 201,048 Total 65 $ 392,003 $ 31,181 $ — $ 3,616 $ 426,800 March 31, 2016 17 $ 63,300 $ 19,068 $ 5,861 $ 584 $ 88,813 June 30, 2016 25 61,263 80,986 55,767 1,212 199,228 September 30, 2016 34 199,890 4,841 — 896 205,627 December 31, 2016 31 208,707 16,871 — 2,125 227,703 Total 107 $ 533,160 $ 121,766 $ 61,628 $ 4,817 $ 721,371 (1) Value of OP equity represents the fair value of OP units, subordinated performance units, and LTIP units. (2) Includes fair value of debt adjustment for assumed mortgages of approximately $7.2 million during the year ended December 31, 2016 . The results of operations for these self storage acquisitions are included in the Company's statements of operations beginning on the respective closing date for each acquisition. The accompanying statements of operations includes aggregate revenue of $15.5 million and operating income of $0.5 million related to the 65 self storage properties acquired during the year ended December 31, 2017 . For the year ended December 31, 2016 , the accompanying statements of operations includes aggregate revenue of $35.6 million and operating income of $3.7 million related to the 107 self storage properties acquired during such period. Unaudited Pro Forma Financial Information For 2016 Business Combinations The Company acquired 107 self storage properties during the year ended December 31, 2016 that were accounted for as business combinations. On a pro forma basis, after giving effect to the acquisition of 100 of the 107 self storage properties as if they were acquired on January 1, 2015 (pro forma financial information is not presented for seven of the self storage properties acquired during the year ended December 31, 2016 since the information required is not available to the Company), the Company would have recorded incremental additional revenue of $35.5 million and net income of $15.3 million for the year ended December 31, 2016 and additional revenue of $61.2 million and an incremental net loss of $23.1 million for the year ended December 31, 2015. This unaudited pro forma information was prepared using the following significant assumptions: (i) for the cash portion of the purchase price, the Company assumed borrowings under the Company's revolving line of credit with interest computed based on the effective interest rate of 2.17% as of December 31, 2016 ; (ii) for assumed debt financing directly associated with the acquisition of specific self storage properties, interest was computed for the entirety of the periods presented using the effective interest rates under such financings; and (iii) for acquisition costs $6.5 million incurred during the year ended December 31, 2016 , pro forma adjustments give effect to these costs as if they were incurred on January 1, 2015. The unaudited pro forma information presented in the paragraph above does not purport to represent what the actual results of operations would have been for the periods indicated, nor does it purport to represent the Company's future results of operations. As described in greater detail above, given that certain information with respect to the business combinations is not available to the Company, readers of this Form 10-K and investors are cautioned not to place undue reliance on the Company's unaudited pro forma financial information. Dispositions During the year ended December 31, 2017 , the Company sold to unrelated third parties three self storage properties and excess land parcels adjacent to its self storage properties. The gross sales price was $17.8 million and the Company recognized $5.7 million of gain on the sales. In December 2016, the Company sold to an unrelated third party one of the self storage properties acquired as part of a larger portfolio of self storage properties acquired during the year ended December 31, 2016 . The gross sales price was $4.9 million and the Company did not recognize any gain or loss on the sale. |
OTHER ASSETS
OTHER ASSETS | 12 Months Ended |
Dec. 31, 2017 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
OTHER ASSETS | OTHER ASSETS Other assets consist of the following (dollars in thousands): December 31, 2017 2016 Customer in-place leases, net of accumulated amortization of $3,914 and $7,831, respectively $ 6,590 $ 9,374 Receivables: Trade, net 2,274 1,898 PROs and other affiliates 979 601 Receivable from unconsolidated real estate venture 1,200 1,093 Property acquisition deposits 5,050 477 Interest rate swaps 12,414 8,742 Prepaid expenses and other 3,949 1,879 Corporate furniture, equipment and other, net 1,444 1,243 Trade name 3,200 3,200 Management contract, net of accumulated amortization of $856 and $148, respectively 9,765 10,473 Goodwill 5,750 5,750 Total $ 52,615 $ 44,730 Amortization expense related to customer in-place leases amounted to $ 13.5 million , $ 12.0 million and $ 12.0 million for the years ended December 31, 2017 , 2016 and 2015 , respectively. Amortization expense related to the management contract amounted to $0.7 million and $0.1 million for the years ended December 31, 2017 and 2016 , respectively. |
DEBT FINANCING
DEBT FINANCING | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
DEBT FINANCING | DEBT FINANCING The Company's outstanding debt as of December 31, 2017 and 2016 is summarized as follows (dollars in thousands): December 31, Interest Rate (1) 2017 2016 Credit Facility: Revolving line of credit 2.96% $ 88,500 $ 246,500 Term loan A 2.63% 235,000 225,000 Term loan B 3.24% 155,000 100,000 Term loan C 3.71% 105,000 — Term loan facility 3.08% 100,000 100,000 Fixed rate mortgages payable 4.15% 271,491 201,694 Total principal 954,991 873,194 Unamortized debt issuance costs and debt premium, net 3,106 5,760 Total debt $ 958,097 $ 878,954 (1) Represents the effective interest rate as of December 31, 2017 . Effective interest rate incorporates the stated rate plus the impact of interest rate cash flow hedges and discount and premium amortization, if applicable. For the revolving line of credit, the effective interest rate excludes fees for unused borrowings. Credit Facility The Company has an unsecured credit facility with a syndicated group of lenders, which, as of December 31, 2017 , provided for total borrowings of $895.0 million consisting of four components: (i) a Revolver which provides for a total borrowing commitment up to $400.0 million , whereby the Company may borrow, repay and re-borrow amounts under the Revolver, (ii) a $235.0 million Term Loan A, (iii) a $155.0 million Term Loan B, and (iv) a $105.0 million Term Loan C. The Revolver matures in May 2020; provided that the Company may elect to extend the maturity to May 2021 by paying an extension fee of 0.15% of the total borrowing commitment thereunder at the time of extension and meeting other customary conditions with respect to compliance. The Term Loan A matures in May 2021, the Term Loan B matures in May 2022 and the Term Loan C matures in February 2024. The Revolver, Term Loan A, Term Loan B and Term Loan C are not subject to any scheduled reduction or amortization payments prior to maturity. Interest rates applicable to loans under the credit facility are determined based on a 1, 2, 3 or 6 month LIBOR period (as elected by the Company at the beginning of any applicable interest period) plus an applicable margin or a base rate, determined by the greatest of the Key Bank prime rate, the federal funds rate plus 0.50% or one month LIBOR plus 1.00% , plus an applicable margin. The applicable margins for the credit facility are leverage based and range from 1.35% to 2.25% for LIBOR loans and 0.35% to 1.25% for base rate loans; provided that after such time as the Company achieves an investment grade rating from at least two rating agencies, the Company may elect (but is not required to elect) that the credit facility is subject to the rating based on applicable margins ranging from 0.85% to 2.45% for LIBOR Loans and 0.00% to 1.45% for base rate loans. The Company is also required to pay the following usage based fees ranging from 0.15% to 0.25% with respect to the unused portion of the Revolver; provided that if the Company makes an investment grade pricing election as described in the preceding sentence, the Company will be required to pay rating based fees ranging from 0.125% to 0.300% with respect to the entire Revolver in lieu of any usage based fees. As of December 31, 2017 , the Company had outstanding letters of credit totaling $4.7 million and would have had the capacity to borrow remaining Revolver commitments of $306.8 million while remaining in compliance with the credit facility's financial covenants described in the following paragraph. The Company is required to comply with the following financial covenants under the credit facility: • Maximum total leverage ratio not to exceed 60% • Minimum fixed charge coverage ratio of at least 1.5 x • Minimum net worth of at least $682.6 million plus 75% of future equity issuances • Maximum unsecured debt to unencumbered asset value ratio not to exceed 60% • Unencumbered adjusted net operating income to unsecured interest expense of at least 2.0 x In addition, the terms of the credit facility contain customary affirmative and negative covenants that, among other things, limit the Company's ability to make distributions or certain investments, incur debt, incur liens and enter into certain transactions. At December 31, 2017 , the Company was in compliance with all such covenants. As discussed in Note 15, on January 29, 2018 , the Company entered into an increase agreement and amendment with a syndicated group of lenders to increase the total borrowing capacity under the credit facility by adding an additional five -year Term Loan D in an aggregate outstanding principal amount of $125.0 million , for a total credit facility of approximately $1.0 billion . The Company has an expansion option under the credit facility, which, if exercised in full, would provide for a total credit facility of $1.3 billion . Term Loan Facility On June 30, 2016, the Company entered into a credit agreement with a syndicated group of lenders to make available a term loan facility (the "Term Loan Facility") in an aggregate amount of $100.0 million . The Term Loan Facility matures in June 2023. The entire outstanding principal amount of, and all accrued but unpaid interest, is due on the maturity date. The Company has an expansion option under the Term Loan Facility, which, if exercised in full, would provide for a total Term Loan Facility in an aggregate amount of $200.0 million . Interest rates applicable to loans under the Term Loan Facility are payable during such periods as such loans are LIBOR loans, at the applicable LIBOR based on a 1, 2, 3 or 6 month LIBOR period (as elected by the Company at the beginning of any applicable interest period) plus an applicable margin, and during the period that such loans are base rate loans, at the base rate under the Term Loan Facility in effect from time to time plus an applicable margin. The base rate under the Term Loan Facility is equal to the greatest of the Capital One prime rate, the federal funds rate plus 0.50% or one month LIBOR plus 1.00% . The applicable margin for the Term Loan Facility is leverage-based and ranges from 1.75% to 2.35% for LIBOR loans and 0.75% to 1.35% for base rate loans; provided that after such time as the Company achieves an investment grade rating from at least two rating agencies, the Company may elect (but is not required to elect) that the Term Loan Facility is subject to the rating based on applicable margins ranging from 1.50% to 2.45% for LIBOR Loans and 0.50% to 1.45% for base rate loans. The Company is required to comply with the same financial covenants under the Term Loan Facility as it is with the credit facility. In addition, the terms of the Term Loan Facility contain customary affirmative and negative covenants that, among other things, limit the Company's ability to make distributions or certain investments, incur debt, incur liens and enter into certain transactions. Fixed Rate Mortgages Payable Fixed rate mortgages have scheduled maturities at various dates through October 2031, and have effective interest rates that range from 2.55% to 5.00% . Principal and interest are generally payable monthly or in monthly interest-only payments with balloon payments due at maturity. In August 2017, the Company entered into an agreement with a single lender for an $84.9 million debt financing secured by 22 of the Company's self storage properties. This interest-only loan matures in August 2027 and has a fixed interest rate of 4.14% . The Company assumed fixed rate mortgages of $61.6 million in connection with 17 of the properties acquired during the year ended December 31, 2016 . The Company repaid $12.2 million of these assumed mortgages during the year ended December 31, 2016 . Future Debt Maturities Based on existing debt agreements in effect as of December 31, 2017 , the scheduled principal and maturity payments for the Company's outstanding borrowings are presented in the table below (in thousands): Year Ending December 31, Scheduled Principal and Maturity Payments Premium Amortization and Unamortized Debt Issuance Costs Total 2018 $ 10,617 $ 187 $ 10,804 2019 4,983 131 5,114 2020 127,745 (220 ) 127,525 2021 242,509 (307 ) 242,202 2022 159,205 (25 ) 159,180 After 2023 409,932 3,340 413,272 $ 954,991 $ 3,106 $ 958,097 |
EQUITY-BASED AWARDS
EQUITY-BASED AWARDS | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
EQUITY-BASED AWARDS | EQUITY-BASED AWARDS The Company grants awards in the form of LTIP units and restricted common shares to provide equity based incentive compensation to members of its senior management team, independent trustees, advisers, consultants, other personnel, and as consideration for self storage property acquisitions. LTIP units were first granted under the 2013 Long-Term Incentive Plan (the "2013 Plan"), which authorized up to 2.5 million LTIP units for issuance. In connection with the Company's initial public offering, the Company terminated the 2013 Plan but the awards granted thereunder remained outstanding after its termination. Restricted common shares were first granted under the 2015 National Storage Affiliates Trust Equity Incentive Plan (the "2015 Plan"), which authorizes the Company's compensation, nominating, and corporate governance committee to grant share options, restricted common shares, phantom shares, dividend equivalent rights, LTIP units and other restricted limited partnership units issued by its operating partnership and other equity-based awards up to an aggregate of 5% of the common shares issued and outstanding from time to time on a fully diluted basis (assuming, if applicable, the exercise of all outstanding options and the conversion of all warrants and convertible securities, including OP units and LTIP units, into common shares). As of December 31, 2017 , the Company did not have outstanding under its equity compensation plan, any options, warrants or rights to purchase the Company's common shares. LTIP Units Through December 31, 2017 , an aggregate of 2,474,710 LTIP units have been issued under the 2013 Plan, 396,471 LTIP units have been issued under the 2015 Plan, and 313,585 LTIP units have been issued under the LP Agreement. Some of the granted LTIP units vested immediately or upon completion of the Company's initial public offering. Others vest upon the contribution of self storage properties or along a schedule at certain times through January 1, 2020. Compensatory Grants The Company grants two types of compensatory LTIP units, time-based LTIP unit awards that are subject to time-based vesting typically over a period of one to three years from the grant date, so long as such person remains an employee or trustee, and performance-based LTIP unit awards, which are designed to align the interests of the Company's executive officers with those of the Company's shareholders in a pay-for-performance structure. The performance-based LTIP unit awards vest contingent upon the achievement of performance criteria measured over a period of three years from the grant date, which is based on the Company's total shareholder return ("TSR") relative to the TSR of the companies in the Morgan Stanley Capital International US REIT Index and the Company's TSR relative to the TSR of its peers in the self storage industry. The value of the performance-based LTIP unit awards take into consideration the probability that the awards will ultimately vest; therefore previously recorded compensation expense is not adjusted in the event that the performance criteria is not achieved. Compensation expense related to compensatory LTIP units granted to members of the Company's senior management team, the Company's independent trustees, advisers, consultants and other personnel is included in general and administrative expense in the accompanying statements of operations. Total compensation cost recognized for the compensatory LTIP unit awards was $3.5 million , $2.5 million and $3.0 million for the years ended December 31, 2017 , 2016 and 2015 , respectively. At December 31, 2017 , total unvested compensation cost not yet recognized was $3.4 million . The Company expects to recognize this compensation cost over a period of approximately 2.0 years . Time-based LTIP unit awards are granted with a fair value equal to the closing market price of the Company's common shares on the date of grant. The following table summarizes activity for the time-based LTIP unit awards for the years ended December 31, 2017 , 2016 and 2015 : Time-Based LTIP Unit Awards 2017 2016 2015 Number of LTIP units Weighted Average Grant-Date Fair Value Number of LTIP units Weighted Average Grant-Date Fair Value Number of LTIP units Weighted Average Grant-Date Fair Value Outstanding unvested at beginning of year 294,529 $ 14.74 236,265 $ 10.41 509,166 $ 10.07 Granted 128,051 22.89 177,546 17.59 6,000 13.00 Vested (194,814 ) 13.43 (119,282 ) 10.41 (278,901 ) 9.84 Unvested at end of year 227,766 $ 20.37 294,529 $ 14.74 236,265 $ 10.41 The aggregate fair value of the time-based LTIP unit awards that vested during the years ended December 31, 2017 , 2016 and 2015 was $2.6 million , $1.2 million and $2.7 million , respectively. The following table summarizes activity for the performance-based LTIP unit awards granted during the year ended December 31, 2017 , including the the minimum, target and maximum number of LTIP units that may be earned upon the achievement of the performance criteria measured over the period of three years from the grant date. Performance-Based LTIP Unit Awards Minimum Target Maximum Weighted Average Grant-Date Fair Value Outstanding unvested at December 31, 2016 — — — $ — Granted — 40,390 90,874 27.63 Outstanding unvested at December 31, 2017 — 40,390 90,874 $ 27.63 The fair value of the performance-based LTIP unit awards, which have a market condition, is estimated on the date of grant using a Monte Carlo simulation. The simulation requires assumptions for expected volatility, risk-free rate of return, and dividend yield. The following table summarizes the assumptions used to value the performance-based LTIP unit awards granted during the year ended December 31, 2017: 2017 Risk-free interest rate 1.58 % Dividend yield 4.35 % Expected volatility 29.96 % Acquisition Consideration Grants On December 31, 2013, the Company granted 1,683,560 LTIP units under the 2013 Plan to PROs as part of the consideration for their respective self storage property acquisitions and contributions. The following table presents the number of units vested and forfeited for acquisition grants during the years ended December 31, 2017 , 2016 and 2015 : Total LTIP units Total unvested units, December 31, 2014 522,900 Units vested in 2015 related to properties contributed or sourced by PROs (99,100 ) Total unvested units, December 31, 2015 423,800 Units vested in 2016 related to properties contributed or sourced by PROs (45,100 ) Units forfeited (118,300 ) Total unvested units, December 31, 2016 260,400 Units vested in 2017 related to properties contributed or sourced by PROs (36,400 ) Total unvested units, December 31, 2017 224,000 The aggregate fair value of purchase consideration recognized during the years ended December 31, 2017 , 2016 and 2015 was $0.9 million , $0.8 million and $1.4 million , respectively. As of December 31, 2017 , the remaining unvested LTIP units will vest as additional self storage properties are contributed or sourced by the PROs. The fair value of such LTIP units will be recorded as additional acquisition consideration based on the fair value in the period such acquisitions are completed. LP Agreement Grants to Consultants Pursuant to the LP Agreement, during the years ended December 31, 2017 , 2016 and 2015 , the Company issued 776 , 2,758 and 88,981 LTIP units, respectively, that were immediately vested to consultants that provided acquisition services. As a result of the Company's adoption of ASU 2017-01 during the year ended December 31, 2017 , the self storage properties acquired during the year ended December 31, 2017 were accounted for as asset acquisitions and accordingly, the acquisition costs related to the LTIP units granted to consultants were capitalized as part of the basis of the acquired properties. Prior to the Company's adoption of ASU 2017-01, the Company's self storage property acquisitions were accounted for as business combinations and accordingly, the acquisition costs related to the LTIP units granted to consultants during the years ended December 31, 2016 and 2015 are included in acquisition costs in the accompanying statements of operations. The aggregate fair value of the LTIP units was less than $0.1 million , $0.1 million and $1.0 million for the years ended December 31, 2017 , 2016 and 2015 , respectively. Restricted Common Shares Through December 31, 2017 , an aggregate of 41,825 restricted common shares have been issued under the 2015 Plan. These restricted common shares vest over a weighted average period of approximately 3.0 years . Restricted common shares are granted with a fair value equal to the closing market price of the Company's common shares on the date of grant. The following table summarizes activity for restricted common shares for the years ended December 31, 2017 and 2016 : Year Ended December 31, 2017 2016 2015 Number of Restricted Common Shares Weighted Average Grant-Date Fair Value Number of Restricted Common Shares Weighted Average Grant-Date Fair Value Number of Restricted Common Shares Weighted Average Grant-Date Fair Value Outstanding at beginning of year 13,590 $ 12.40 11,000 $ 12.40 — $ — Granted 16,525 24.04 8,090 17.19 17,210 12.40 Vested (8,530 ) 14.11 (5,500 ) 12.40 (6,000 ) 12.40 Forfeited — — — — (210 ) 12.40 Unvested at end of year 21,585 $ 22.43 13,590 $ 12.40 11,000 $ 12.40 The aggregate fair value of restricted common shares that vested during the years ended December 31, 2017 , 2016 and 2015 was $0.1 million , $0.1 million and $0.1 million respectively. Total compensation cost recognized for restricted common shares during the years ended December 31, 2017 , 2016 and 2015 was $0.2 million , $0.1 million and $0.1 million , respectively. At December 31, 2017 , total unvested compensation cost not yet recognized was $0.3 million . The Company expects to recognize this compensation cost over a period of approximately 2.0 years . If the grantee has a termination of service for any reason during the vesting period, the unvested restricted common shares will be forfeited. Compensation expense related to restricted common shares is included in general and administrative expense in the accompanying statements of operations. |
EARNINGS PER SHARE
EARNINGS PER SHARE | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings (loss) per common share for the years ended December 31, 2017 , 2016 and 2015 (in thousands, except per share amounts): Year Ended December 31, 2017 2016 2015 Earnings (loss) per common share - basic and diluted Numerator Net income $ 45,998 $ 24,866 $ 4,796 Net (income) loss attributable to noncontrolling interests (43,037 ) (6,901 ) 7,644 Net income attributable to National Storage Affiliates Trust 2,961 17,965 12,440 Distributions to preferred shareholders (2,300 ) — — Distributed and undistributed earnings allocated to participating securities (28 ) (18 ) (9 ) Net income attributable to common shareholders - basic 633 17,947 12,431 Effect of assumed conversion of dilutive securities — 6,783 (4,919 ) Net income attributable to common shareholders - diluted $ 633 $ 24,730 $ 7,512 Denominator Weighted average shares outstanding - basic 44,423 29,887 15,463 Effect of dilutive securities: Weighted average OP units outstanding — 24,262 15,697 Weighted average DownREIT OP unit equivalents outstanding — 1,835 1,171 Weighted average LTIP units outstanding — 1,846 1,272 Weighted average subordinated performance units and DownREIT subordinated performance unit equivalents — 20,917 11,806 Weighted average shares outstanding - diluted 44,423 78,747 45,409 Earnings (loss) per share - basic $ 0.01 $ 0.60 $ 0.80 Earnings (loss) per share - diluted $ 0.01 $ 0.31 $ 0.17 Dividends declared per common share $ 1.04 $ 0.88 $ 0.54 As discussed in Note 2, the Company allocates GAAP income (loss) utilizing the HLBV method, in which the Company allocates income or loss based on the change in each unitholders' claim on the net assets of its operating partnership at period end after adjusting for any distributions or contributions made during such period. Due to the stated liquidation priorities and because the HLBV method incorporates non-cash items such as depreciation expense, in any given period, income or loss may be allocated disproportionately to National Storage Affiliates Trust and noncontrolling interests, resulting in volatile fluctuations of basic and diluted earnings (loss) per share. Additionally, the Company did not have an ownership interest or share in its operating partnership's profits and losses prior to the completion of the Company's initial public offering. As a result, all of the operating partnership's profits and losses for the period from January 1, 2015 to April 28, 2015 were allocated to noncontrolling interests. Outstanding equity interests of the Company's operating partnership and DownREIT partnerships are considered potential common shares for purposes of calculating diluted earnings (loss) per share as the unitholders may, through the exercise of redemption rights, obtain common shares, subject to various restrictions. Basic earnings per share is calculated based on the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated by further adjusting for the dilutive impact using the treasury stock method for unvested LTIP units subject to a service condition outstanding during the period and the if-converted method for any convertible securities outstanding during the period. Generally, following certain lock-out periods, OP units in the Company's operating partnership are redeemable for cash or, at the Company's option, exchangeable for common shares on a one -for-one basis, subject to certain adjustments and DownREIT OP units are redeemable for cash or, at the Company's option, exchangeable for OP units in its operating partnership on a one -for-one basis, subject to certain adjustments in each case. LTIP units may also, under certain circumstances, be convertible into OP units on a one -for-one basis, which are then exchangeable for common shares as described above. Vested LTIP units and unvested LTIP units that vest based on a service condition are allocated income or loss in a similar manner as OP units. Unvested LTIP units subject to a service condition are evaluated for dilution using the treasury stock method. For the year ended December 31, 2017 , 318,640 unvested LTIP units that vest based on a service condition are excluded from the calculation of diluted earnings (loss) per share as they are not dilutive to earnings (loss) per share. For the year ended December 31, 2017 , 224,000 unvested LTIP units that vest upon the future acquisition of properties are excluded from the calculation of diluted earnings (loss) per share because the contingency for the units to vest has not been attained as of the end of the reported periods. Subordinated performance units may also, under certain circumstances, be convertible into OP units which are exchangeable for common shares as described above, and DownREIT subordinated performance units may, under certain circumstances, be exchangeable for subordinated performance units on a one -for-one basis. Subordinated performance units are only convertible into OP units, after a two year lock-out period and then generally (i) at the holder’s election only upon the achievement of certain performance thresholds relating to the properties to which such subordinated performance units relate or (ii) at the Company's election upon a retirement event of a PRO that holds such subordinated performance units or upon certain qualifying terminations. Although subordinated performance units may only be convertible after a two year lock-out period, the Company assumes a hypothetical conversion of each subordinated performance unit (including each DownREIT subordinated performance unit) into OP units (with subsequently assumed redemption into common shares) for the purposes of calculating diluted weighted average common shares. This hypothetical conversion is calculated using historical financial information, and as a result, is not necessarily indicative of the results of operations, cash flows or financial position of the Company upon expiration of the two -year lock out period on conversions. For the year ended December 31, 2017 , potential common shares totaling 50.6 million , related to OP units, DownREIT OP units, subordinated performance units and DownREIT subordinated performance units have been excluded from the calculation of diluted earnings (loss) per share as they are not dilutive to earnings (loss) per share. Participating securities, which consist of unvested restricted common shares, receive dividends equal to those received by common shares. The effect of participating securities for the periods presented above is calculated using the two-class method of allocating distributed and undistributed earnings. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS Supervisory and Administrative Fees The Company has entered into asset management agreements with the PROs to provide leasing, operating, supervisory and administrative services related to its self storage properties. The asset management agreements generally provide for fees ranging from 5% to 6% of gross revenue for the managed self storage properties. During the year s ended December 31, 2017 , 2016 and 2015 , the Company incurred $14.4 million , $11.0 million and $7.6 million , respectively, for supervisory and administrative fees to the PROs. Such fees are included in general and administrative expenses in the accompanying statements of operations. Payroll Services The employees responsible for operation of the self storage properties are generally employees of the PROs who charge the Company for the costs associated with the respective employees. For the year s ended December 31, 2017 , 2016 and 2015 , the Company incurred $24.6 million , $19.4 million and $13.4 million , respectively, for payroll and related costs reimbursable to these PROs. Such costs are included in property operating expenses in the accompanying statements of operations. Due Diligence Costs During the year s ended December 31, 2017 , 2016 and 2015 , the Company incurred $0.7 million , $1.1 million and $0.6 million , respectively, of expenses payable to certain PROs related to self storage property acquisitions sourced by the PROs. These expenses, which are based on the volume of transactions sourced by the PROs, are intended to reimburse the PROs for due diligence costs incurred in the sourcing and underwriting process. For the year ended December 31, 2017 , these due diligence costs are capitalized as part of the basis of the acquired self storage properties and for the years ended December 31, 2016 and 2015 , these due diligence costs are included in acquisition costs in the accompanying statements of operations. Notes Receivable In connection with the acquisition of 16 self storage properties from PROs during the year ended December 31, 2014, the Company assumed certain mortgages that provided for interest at above-market rates. The sellers of the self storage properties agreed to reimburse the Company for the difference between the fair value and the contractual value of the assumed mortgages which amounted to $5.2 million . Due to the structure of the transaction, the amount owed to the Company was considered a receivable for the issuance of equity and was recorded as an offset against equity. During the year s ended December 31, 2017 and 2016 , the Company received above-market interest reimbursements from the sellers totaling $1.3 million and $1.4 million , respectively. In addition, in exchange for $1.3 million and $1.4 million of principal payment reimbursements received related to these assumed mortgages during the year s ended December 31, 2017 and 2016 , the Company issued 47,339 and 67,832 OP units to the sellers during the year ended December 31, 2017 and 2016 . Self Storage Property Acquisitions During the year ended December 31, 2017 , the Company issued 44,917 subordinated performance units as partial consideration for the acquisition of a self storage property to SA-SCMI LLC, an affiliate of SecurCare and Move It. At the time of the issuance, SA-SCMI LLC was an affiliate of Arlen D. Nordhagen, the Company's chairman and chief executive officer. In addition, during the year ended December 31, 2017 , the Company issued 26,049 OP units as partial consideration for the acquisition of a self storage property to Nordhagen LLLP, an affiliate of Mr. Nordhagen, and 22,214 subordinated performance units as partial consideration for the acquisition of a self storage property to SecurCare, an affiliate Mr. Nordhagen. During the year ended December 31, 2017 , the Company issued 101,270 OP units and 88,435 subordinated performance units as partial consideration for the acquisition of self storage properties to Howard Family Limited Partnership I, an affiliate of Northwest and an affiliate of Kevin Howard, a member of the Company's board of trustees. During the year ended December 31, 2017 , the Company issued 10,766 OP units as partial consideration for the acquisition of a self storage property to Van Mourick Diversified, LP, an affiliate of Optivest and an affiliate of Mark Van Mourick, a member of the Company's board of trustees. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Operating Leases The Company has six properties that are subject to non-cancelable leasehold interest agreements that are classified as operating leases. These lease agreements expire between 2034 and 2092, inclusive of extension options that the Company anticipates exercising. To the extent that the leasehold interest agreements provide for fixed increases throughout the term of the lease, the Company recognizes lease expense on a straight-line basis over the expected lease terms. Rent expense under these leasehold interest agreements are included in property operating expenses in the accompanying statements of operations and amounted to $1.2 million , $1.1 million and $1.0 million for the years ended December 31, 2017 , 2016 and 2015 , respectively. In March 2014, the Company entered into a non-cancelable operating lease that expires in July 2020 for its corporate headquarters in Greenwood Village, Colorado. Under the terms of the office lease, the Company obtained an option to extend the lease for an additional term of five years at then current market rates. The office lease provides for an abated rent period and the value of this inducement is being accounted for as a reduction to rent expense over the term of the lease. Rent expense related to this office lease is included in general and administrative expenses in the accompanying statements of operations and amounted to $0.2 million , $0.1 million and $0.1 million for the years ended December 31, 2017 , 2016 and 2015 , respectively. As of December 31, 2017 , future minimum cash payments under the Company's operating leases are as follows (in thousands): Year Ending December 31, Real Estate Leasehold Interests Office Lease Total 2018 $ 1,329 $ 184 $ 1,513 2019 1,334 188 1,522 2020 1,379 112 1,491 2021 1,404 — 1,404 2022 1,419 — 1,419 2023 through 2092 37,498 — 37,498 $ 44,363 $ 484 $ 44,847 Legal Proceedings The Company is subject to litigation, claims, and assessments that may arise in the ordinary course of its business activities. Such matters include contractual matters, employment related issues, and regulatory proceedings. Although occasional adverse decisions or settlements may occur, the Company believes that the final disposition of such matters will not have a material adverse effect on the Company's financial position, results of operations, or liquidity. |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS Recurring Fair Value Measurements The Company sometimes limits its exposure to interest rate fluctuations by entering into interest rate swap agreements. The interest rate swap agreements moderate the Company's exposure to interest rate risk by effectively converting the interest on variable rate debt to a fixed rate. The Company measures its interest rate swap derivatives at fair value on a recurring basis. The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges are recorded in accumulated other comprehensive income (loss) and are subsequently reclassified into earnings in the period that the hedged transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly into earnings. Information regarding the Company's interest rate swaps measured at fair value, which are classified within Level 2 of the GAAP fair value hierarchy, is presented below (dollars in thousands): Interest Rate Swaps Designated as Cash Flow Hedges Fair value at December 31, 2015 $ (972 ) Designation of interest rate swap as a cash flow hedge 19 Losses on interest rate swaps reclassified into interest expense from accumulated other comprehensive loss 2,678 Unrealized losses included in accumulated other comprehensive loss 6,434 Fair value at December 31, 2016 $ 8,159 Cash flow hedge ineffectiveness 12 Losses on interest rate swaps reclassified into interest expense from accumulated other comprehensive loss 2,308 Unrealized gains included in accumulated other comprehensive loss 1,935 Fair value at December 31, 2017 $ 12,414 As of December 31, 2017 and 2016 , the Company had outstanding interest rate swaps designated as cash flow hedges with aggregate notional amounts of $595.0 million and $425.0 million , respectively. As of December 31, 2017 , the Company's swaps had a weighted average remaining term of 3.5 years . The fair value of these swaps are presented within other assets and accounts payable and accrued liabilities in the accompanying balance sheets, and the Company recognizes any changes in the fair value as an adjustment of accumulated other comprehensive income (loss) within equity to the extent of their effectiveness. If the forward rates at December 31, 2017 remain constant, the Company estimates that during the next 12 months , the Company would reclassify into earnings approximately $1.1 million of the unrealized losses included in accumulated other comprehensive loss. If market interest rates increase above the 1.51% weighted average fixed rate under these interest rate swaps the Company will benefit from net cash payments due to it from its counterparty to the interest rate swaps. There were no transfers between levels during the year s ended December 31, 2017 and 2016 . For financial assets and liabilities that utilize Level 2 inputs, the Company utilizes both direct and indirect observable price quotes, including LIBOR yield curves. The Company uses valuation techniques for Level 2 financial assets and liabilities which include LIBOR yield curves at the reporting date as well as assessing counterparty credit risk. Counterparties to these contracts are highly rated financial institutions. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with the Company's derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and the counterparties. As of December 31, 2017 and 2016 , the Company determined that the effect of credit valuation adjustments on the overall valuation of its derivative positions are not significant to the overall valuation of its derivatives. Therefore, the Company has determined that its derivative valuations are appropriately classified in Level 2 of the fair value hierarchy. Fair Value Disclosures The carrying values of cash and cash equivalents, restricted cash, trade receivables, and accounts payable and accrued liabilities reflected in the balance sheets at December 31, 2017 and 2016 , approximate fair value due to the short term nature of these financial assets and liabilities. The carrying value of variable rate debt financing reflected in the balance sheets at December 31, 2017 and 2016 approximates fair value as the changes in their associated interest rates reflect the current market and credit risk is similar to when the loans were originally obtained. The fair values of fixed rate mortgages were estimated using the discounted estimated future cash payments to be made on such debt; the discount rates used approximated current market rates for loans, or groups of loans, with similar maturities and credit quality (categorized within Level 2 of the fair value hierarchy). The combined principal balance of the Company's fixed rate mortgages payable was approximately $271.5 million as of December 31, 2017 with a fair value of approximately $282.6 million . In determining the fair value, the Company estimated a weighted average market interest rate of approximately 4.04% , compared to the weighted average contractual interest rate of 4.87% . The combined principal balance of the Company's fixed rate mortgages was approximately $201.7 million as of December 31, 2016 with a fair value of approximately $214.0 million . In determining the fair value as of December 31, 2016 , the Company estimated a weighted average market interest rate of approximately 3.89% , compared to the weighted average contractual interest rate of 5.25% . |
UNAUDITED SELECTED QUARTERLY FI
UNAUDITED SELECTED QUARTERLY FINANCIAL DATA | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
UNAUDITED SELECTED QUARTERLY FINANCIAL DATA | UNAUDITED SELECTED QUARTERLY FINANCIAL DATA The following is a summary of quarterly financial information for the years ended December 31, 2017 and 2016 (in thousands, except per share data): For the three months ended March 31, June 30, September 30, December 31, 2017 2017 2017 2017 Total revenues $ 61,563 $ 64,341 $ 68,858 $ 73,368 Total operating expenses 45,613 45,008 47,561 51,448 Income from operations 15,950 19,333 21,297 21,920 Gain (loss) on sale of self storage properties — 5,637 106 (28 ) Net income 7,181 15,576 11,226 12,015 Net income (loss) attributable to common shareholders $ 555 $ 2,367 $ 1,271 $ (3,532 ) Earnings (loss) per share - basic $ 0.01 $ 0.05 $ 0.03 $ (0.08 ) Earnings (loss) per share - diluted $ 0.01 $ 0.05 $ 0.03 $ (0.08 ) For the three months ended March 31, June 30, September 30, December 31, 2016 2016 2016 2016 Total revenues $ 39,649 $ 47,284 $ 52,949 $ 59,164 Total operating expenses 28,504 33,382 36,908 42,596 Income from operations 11,145 13,902 16,041 16,568 Net income 4,802 6,045 7,944 6,075 Net income (loss) attributable to common shareholders $ 2,210 $ 7,370 $ (11 ) $ 8,396 Earnings (loss) per share - basic $ 0.10 $ 0.32 $ — $ 0.22 Earnings (loss) per share - diluted $ 0.07 $ 0.08 $ — $ 0.07 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2017 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Self Storage Property Acquisitions In January and February 2018, the Company acquired 18 self storage properties from third-party sellers for approximately $101.8 million . Consideration for these acquisitions included approximately $78.9 million of net cash, the assumption of $0.5 million of other working capital liabilities and OP equity of approximately $22.4 million (consisting of the issuance of 464,056 OP Units, 316,103 Series A-1 Preferred Units and 56,228 subordinated performance units). Such amounts incorporate the effect of $2.1 million of subordinated equity issued in exchange for cash co-invested by Personal Mini and Move It. The Series A-1 Preferred Units rank senior to OP units and subordinated performance units in the Company's operating partnership with respect to distributions and liquidation. The Series A-1 Preferred Units have a stated value of $25.00 per unit and receive distributions at an annual rate of 6.000% . These distributions are cumulative. The Series A-1 Preferred Units are redeemable at the option of the holder after the first anniversary of the date of issuance, which redemption obligations may be satisfied at the Company’s option in cash in an amount equal to the market value of an equivalent number of Series A Preferred Shares or the issuance of Series A Preferred Shares on a one-for-one basis, subject to adjustments. In connection with these acquisitions, the Company reimbursed the PROs for $0.2 million of due diligence costs related to the self storage properties sourced by the PROs. In January 2018, the Joint Venture acquired one self storage property with an estimated fair value of $9.3 million . The venture financed the acquisition with capital contributions from the venture members, of which the Company contributed $2.4 million . Credit Facility Increase On January 29, 2018 , pursuant to a full exercise by the Company's operating partnership of its remaining expansion option and a partial exercise of its Additional Expansion Option (defined below) under its credit agreement dated as of May 6, 2016, the Company's operating partnership, as borrower, certain of its subsidiaries that are party to the credit facility, as subsidiary guarantors, and the Company, as parent guarantor, entered into a third increase agreement and amendment (the "Increase Agreement") with a syndicated group of lenders to increase the total borrowing capacity under the Company's credit facility by adding an additional tranche D term loan facility ("Term Loan D") in an aggregate outstanding principal amount of $125.0 million , for a total credit facility of over $1.0 billion consisting of the following components: (i) a $400.0 million Revolver, (ii) Term Loan A, which provides for a total borrowing commitment of up $235.0 million , (iii) Term Loan B, which provides for a total borrowing commitment of up to $155.0 million , (iv) Term Loan C, which provides for a total borrowing commitment of up to $105.0 million and (iv) Term Loan D, which provides for a total borrowing commitment of up to $125.0 million . The Company renewed its expansion option under the credit facility to permit an additional $300.0 million of revolving commitments and/or term loans (the "Additional Expansion Option"), which was partially exercised in the amount of $20.0 million in connection with Term Loan D. If exercised in full, the Additional Expansion Option would provide for a total borrowing capacity under the credit facility of $1.3 billion . The Term Loan D matures on January 29, 2023. It is not subject to any scheduled reduction or amortization payment prior to maturity. Interest rates applicable to loans under Term Loan D are determined based on a 1, 2, 3 or 6 month LIBOR period (as elected by the Company at the beginning of any applicable interest period) plus an applicable margin, or a base rate, determined by the greatest of the Key Bank prime rate, the federal funds rate plus 0.50% or one month LIBOR plus 1.00% , plus an applicable margin. The applicable margins for Term Loan D are leverage based and range from 1.30% to 1.85% for LIBOR loans and 0.30% to 0.85% for base rate loans; provided that after such time as the Company achieves an investment grade rating from at least two rating agencies, the Company may elect (but is not required to elect) that Term Loan D is subject to the rating based on applicable margins ranging from 0.90% to 1.75% for LIBOR Loans and 0.00% to 0.75% for base rate loans. Term Loan D may be prepaid at any time without penalty. Other than the increases and amendments related to Term Loan D and Additional Expansion Option described above, the Increase Agreement did not impact or amend the credit facility's previously disclosed terms, including its covenants, events of default, or terms of payment. Subordinated Performance Unit To OP Unit Conversions Subordinated performance units are convertible into OP units after a two year lock-out period and then generally (i) at the holder’s election only upon the achievement of certain performance thresholds relating to the properties to which such subordinated performance units relate (a "voluntary conversion") or (ii) at the Company's election upon a retirement event of a PRO that holds such subordinated performance units or upon certain qualifying terminations. Following such lock-out period, a holder of subordinated performance units in the Company's operating partnership may elect a voluntary conversion one time each year prior to December 1st to convert a pre-determined portion of such subordinated performance units into OP units in the Company's operating partnership, with such conversion effective January 1st of the following year with each subordinated performance unit being converted into the number of OP units determined by dividing the average cash available for distribution, or CAD, per unit on the series of specific subordinated performance units over the one -year period prior to conversion by 110% of the CAD per unit on the OP units determined over the same period. CAD per unit on the series of specific subordinated performance units and OP units is determined by the Company based generally upon the application of the provisions of the operating partnership agreement applicable to the distributions of operating cash flow and capital transactions proceeds. During the year ended December 31, 2017 , the Company received voluntary conversion notices for 997,074 subordinated performance units. Effective January 1, 2018, the Company issued 2,024,170 OP units in satisfaction of such voluntary conversions. |
Schedule III - Real Estate and
Schedule III - Real Estate and Accumulated Deprecation | 12 Months Ended |
Dec. 31, 2017 | |
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract] | |
Schedule III - Real Estate and Accumulated Deprecation | Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Mobile AL $ 991 $ 4,874 $ 712 $ 991 $ 5,586 $ 6,577 $ 530 4/12/2016 Lake Havasu City-Kingman AZ 671 1,572 27 671 1,599 2,270 309 4/1/2014 Lake Havasu City-Kingman AZ 722 2,546 45 722 2,591 3,313 528 7/1/2014 Phoenix-Mesa-Glendale AZ 1,089 6,607 55 1,089 6,662 7,751 1,052 6/30/2014 Phoenix-Mesa-Glendale AZ 3,813 7,831 59 3,813 7,890 11,703 922 9/30/2014 Phoenix-Mesa-Glendale AZ 1,375 2,613 38 1,375 2,651 4,026 555 9/30/2014 Phoenix-Mesa-Glendale AZ 1,653 7,531 16 1,653 7,547 9,200 759 10/1/2014 Phoenix-Mesa-Glendale AZ 1,661 3,311 44 1,661 3,355 5,016 425 10/1/2014 Phoenix-Mesa-Glendale AZ 1,050 5,359 21 1,050 5,380 6,430 409 1/1/2015 Phoenix-Mesa-Glendale AZ 1,198 1,921 2 1,198 1,923 3,121 242 5/1/2015 Phoenix-Mesa-Glendale AZ 1,324 3,626 35 1,324 3,661 4,985 375 5/1/2015 Phoenix-Mesa-Glendale AZ 3,816 4,348 8 3,816 4,356 8,172 433 5/1/2015 Phoenix-Mesa-Scottsdale AZ 5,576 6,746 218 5,576 6,964 12,540 581 5/19/2016 Phoenix-Mesa-Scottsdale AZ 1,506 2,881 68 1,506 2,949 4,455 175 7/29/2016 Phoenix-Mesa-Scottsdale AZ 2,120 5,442 17 2,120 5,459 7,579 162 2/13/2017 Tucson AZ 421 3,855 74 421 3,929 4,350 484 8/29/2013 Tucson AZ 716 1,365 7 716 1,372 2,088 319 8/29/2013 Anaheim-Santa Ana-Irvine CA 1,530 5,799 289 1,530 6,088 7,618 241 8/1/2016 Bakersfield CA 511 2,804 43 511 2,847 3,358 174 8/1/2016 Bakersfield CA 1,409 3,907 38 1,409 3,945 5,354 214 8/1/2016 Bakersfield CA 1,882 3,858 82 1,882 3,940 5,822 250 8/1/2016 Bakersfield CA 1,355 4,678 27 1,355 4,705 6,060 277 8/1/2016 Bakersfield CA 1,306 3,440 115 1,306 3,555 4,861 274 8/1/2016 Bakersfield CA 1,016 3,638 34 1,016 3,672 4,688 193 8/1/2016 Bakersfield CA 1,579 3,357 21 1,579 3,378 4,957 225 8/1/2016 Bakersfield CA 750 5,802 95 750 5,897 6,647 322 8/1/2016 Fresno CA 840 7,502 323 840 7,825 8,665 591 8/1/2016 Los Angeles-Long Beach-Glendale CA 2,345 6,820 619 2,345 7,439 9,784 297 8/1/2016 Los Angeles-Long Beach-Glendale CA 1,350 11,266 115 1,350 11,381 12,731 523 8/1/2016 Los Angeles-Long Beach-Glendale CA 763 6,258 84 763 6,342 7,105 293 8/1/2016 Los Angeles-Long Beach-Santa Ana CA 6,641 8,239 47 6,641 8,286 14,927 969 4/1/2014 Los Angeles-Long Beach-Santa Ana CA 1,122 1,881 7 1,122 1,888 3,010 296 6/30/2014 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Los Angeles-Long Beach-Santa Ana (3) CA 7,186 12,771 24 7,186 12,795 19,981 1,717 9/17/2014 Los Angeles-Long Beach-Santa Ana (3)(4) CA — 7,106 25 — 7,131 7,131 919 9/17/2014 Los Angeles-Long Beach-Santa Ana (3) CA 2,366 4,892 52 2,366 4,944 7,310 684 9/17/2014 Los Angeles-Long Beach-Santa Ana (3) CA 2,871 3,703 42 2,871 3,745 6,616 435 10/7/2014 Los Angeles-Long Beach-Santa Ana (3) CA 5,448 10,015 148 5,448 10,163 15,611 1,403 10/7/2014 Los Angeles-Long Beach-Santa Ana (4) CA — 13,150 15 — 13,165 13,165 1,320 1/1/2015 Los Angeles-Long Beach-Santa Ana (4) CA — 10,084 61 — 10,145 10,145 62 10/3/2017 Modesto CA 1,526 12,032 31 1,526 12,063 13,589 540 11/10/2016 Modesto CA 773 5,655 4 773 5,659 6,432 212 11/10/2016 Riverside-San Bernardino-Ontario (3) CA 552 3,010 109 552 3,119 3,671 788 5/16/2008 Riverside-San Bernardino-Ontario CA 1,342 4,446 62 1,342 4,508 5,850 1,265 4/1/2013 Riverside-San Bernardino-Ontario CA 1,672 2,564 31 1,672 2,595 4,267 400 4/1/2014 Riverside-San Bernardino-Ontario CA 978 1,854 106 978 1,960 2,938 416 5/30/2014 Riverside-San Bernardino-Ontario CA 1,068 2,609 98 1,068 2,707 3,775 487 5/30/2014 Riverside-San Bernardino-Ontario CA 1,202 2,032 48 1,202 2,080 3,282 331 6/30/2014 Riverside-San Bernardino-Ontario CA 1,803 2,758 36 1,803 2,794 4,597 587 6/30/2014 Riverside-San Bernardino-Ontario CA 1,337 4,489 22 1,337 4,511 5,848 637 6/30/2014 Riverside-San Bernardino-Ontario CA 846 2,508 43 846 2,551 3,397 505 7/1/2014 Riverside-San Bernardino-Ontario (3) CA 1,026 4,552 27 1,026 4,579 5,605 598 9/17/2014 Riverside-San Bernardino-Ontario (3) CA 1,878 5,104 35 1,878 5,139 7,017 597 9/17/2014 Riverside-San Bernardino-Ontario (3) CA 14,109 23,112 199 14,109 23,311 37,420 3,183 9/17/2014 Riverside-San Bernardino-Ontario CA 3,974 6,962 92 3,974 7,054 11,028 1,143 10/1/2014 Riverside-San Bernardino-Ontario CA 2,018 3,478 689 2,018 4,167 6,185 818 10/1/2014 Riverside-San Bernardino-Ontario CA 1,842 3,420 9 1,842 3,429 5,271 356 1/1/2015 Riverside-San Bernardino-Ontario CA 1,981 3,323 35 1,981 3,358 5,339 433 1/1/2015 Riverside-San Bernardino-Ontario (3) CA 3,418 9,907 76 3,418 9,983 13,401 847 8/5/2015 Riverside-San Bernardino-Ontario (3) CA 1,913 6,072 67 1,913 6,139 8,052 619 8/5/2015 Riverside-San Bernardino-Ontario (3) CA 772 4,044 72 772 4,116 4,888 494 8/5/2015 Riverside-San Bernardino-Ontario (3) CA 597 5,464 64 597 5,528 6,125 483 8/5/2015 Riverside-San Bernardino-Ontario (3) CA 3,022 8,124 64 3,022 8,188 11,210 818 8/5/2015 Riverside-San Bernardino-Ontario (3) CA 2,897 5,725 646 2,467 6,371 8,838 755 8/5/2015 Riverside-San Bernardino-Ontario (3) CA 2,835 5,589 827 2,164 6,416 8,580 680 8/5/2015 Riverside-San Bernardino-Ontario (3) CA 2,484 5,903 65 2,484 5,968 8,452 471 8/5/2015 Riverside-San Bernardino-Ontario (3) CA 1,139 5,054 3 1,139 5,057 6,196 460 10/1/2015 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Riverside-San Bernardino-Ontario (3) CA 1,401 4,577 5 1,401 4,582 5,983 323 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 925 3,459 5 925 3,464 4,389 325 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 1,174 2,556 43 1,174 2,599 3,773 288 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 1,506 2,913 9 1,506 2,922 4,428 255 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 631 2,307 35 631 2,342 2,973 278 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 1,318 2,394 3 1,318 2,397 3,715 272 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 1,942 2,647 11 1,942 2,658 4,600 354 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 1,339 2,830 17 1,339 2,847 4,186 291 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 1,105 2,672 5 1,105 2,677 3,782 331 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 1,542 2,127 4 1,542 2,131 3,673 262 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 1,478 4,534 2 1,478 4,536 6,014 329 10/1/2015 Riverside-San Bernardino-Ontario CA 3,245 4,420 1,383 3,245 5,803 9,048 472 5/16/2016 Riverside-San Bernardino-Ontario CA 670 8,613 435 670 9,048 9,718 416 8/1/2016 Riverside-San Bernardino-Ontario CA 538 3,921 367 538 4,288 4,826 198 8/1/2016 Riverside-San Bernardino-Ontario CA 382 3,442 335 382 3,777 4,159 181 8/1/2016 Riverside-San Bernardino-Ontario CA 806 3,852 557 806 4,409 5,215 203 8/1/2016 Riverside-San Bernardino-Ontario CA 570 4,238 314 570 4,552 5,122 211 8/1/2016 Riverside-San Bernardino-Ontario CA 345 3,270 143 345 3,413 3,758 182 8/1/2016 Riverside-San Bernardino-Ontario CA 252 4,419 85 252 4,504 4,756 227 9/1/2016 Riverside-San Bernardino-Ontario CA 2,691 3,950 198 2,691 4,148 6,839 175 9/1/2016 Riverside-San Bernardino-Ontario CA 302 4,169 68 302 4,237 4,539 113 5/8/2017 Riverside-San Bernardino-Ontario CA 896 6,397 117 896 6,514 7,410 167 5/31/2017 Sacramento-Roseville-Arden-Arcade CA 1,195 8,407 5 1,195 8,412 9,607 307 11/10/2016 Sacramento-Roseville-Arden-Arcade CA 425 7,249 12 425 7,261 7,686 295 11/10/2016 San Diego-Carlsbad CA 4,318 19,775 784 4,323 20,559 24,882 821 8/1/2016 San Diego-Carlsbad-San Marcos (3) CA 3,703 5,582 20 3,703 5,602 9,305 667 9/17/2014 San Diego-Carlsbad-San Marcos CA 3,544 4,915 130 3,544 5,045 8,589 627 10/1/2014 San Diego-Carlsbad-San Marcos (4) CA — 5,568 67 — 5,635 5,635 465 1/1/2015 San Diego-Carlsbad-San Marcos (4) CA — 4,041 47 — 4,088 4,088 618 1/31/2015 Stockton-Lodi CA 559 5,514 15 559 5,529 6,088 210 11/10/2016 Stockton-Lodi CA 1,710 8,995 15 1,710 9,010 10,720 389 11/10/2016 Stockton-Lodi CA 1,637 11,901 7 1,637 11,908 13,545 169 7/31/2017 Colorado Springs CO 455 1,351 45 455 1,396 1,851 381 8/29/2007 Colorado Springs CO 588 2,162 1,088 588 3,250 3,838 797 3/26/2008 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Colorado Springs CO 632 3,118 401 632 3,519 4,151 942 3/26/2008 Colorado Springs CO 414 1,535 319 414 1,854 2,268 498 5/1/2008 Colorado Springs (3) CO 300 1,801 108 300 1,909 2,209 415 6/1/2009 Colorado Springs CO 766 5,901 5 766 5,906 6,672 44 10/19/2017 Denver-Aurora-Broomfield CO 868 128 2,301 868 2,429 3,297 467 6/22/2009 Denver-Aurora-Lakewood CO 938 8,449 20 938 8,469 9,407 275 11/1/2016 Fort Collins-Loveland CO 3,213 3,087 157 3,213 3,244 6,457 851 8/29/2007 Fort Collins-Loveland CO 2,514 1,786 85 2,514 1,871 4,385 494 8/29/2007 Pueblo CO 156 2,797 6 156 2,803 2,959 181 2/17/2016 Cape Coral-Fort Myers (3) FL 4,122 8,453 31 4,122 8,484 12,606 515 4/1/2016 Cape Coral-Fort Myers (3) FL 571 3,256 36 571 3,292 3,863 278 4/1/2016 Jacksonville FL 2,087 19,473 39 2,087 19,512 21,599 643 11/10/2016 Jacksonville FL 1,629 4,929 20 1,629 4,949 6,578 217 11/10/2016 Jacksonville FL 527 2,434 — 527 2,434 2,961 6 12/20/2017 Lakeland-Winter Haven (3) FL 972 2,159 133 972 2,292 3,264 232 5/4/2015 Naples-Immokalee-Marco Island (3) FL 3,849 16,688 48 3,849 16,736 20,585 863 4/1/2016 North Port-Sarasota-Bradenton (3) FL 2,211 5,682 5 2,211 5,687 7,898 337 4/1/2016 North Port-Sarasota-Bradenton (3) FL 2,488 7,282 58 2,488 7,340 9,828 411 4/1/2016 North Port-Sarasota-Bradenton (3) FL 1,767 5,955 15 1,767 5,970 7,737 382 4/1/2016 North Port-Sarasota-Bradenton FL 2,143 5,005 99 2,143 5,104 7,247 426 10/11/2016 North Port-Sarasota-Bradenton (3) FL 1,924 4,514 31 1,924 4,545 6,469 322 4/1/2016 North Port-Sarasota-Bradenton FL 1,176 3,421 4 1,176 3,425 4,601 203 4/1/2016 North Port-Sarasota-Bradenton (3) FL 1,839 8,377 4 1,839 8,381 10,220 423 4/1/2016 North Port-Sarasota-Bradenton (3) FL 2,507 7,766 13 2,507 7,779 10,286 429 4/1/2016 North Port-Sarasota-Bradenton (3) FL 1,685 5,439 11 1,685 5,450 7,135 329 4/1/2016 North Port-Sarasota-Bradenton (3) FL 437 5,128 33 437 5,161 5,598 306 4/1/2016 North Port-Sarasota-Bradenton FL 1,015 3,031 4 1,015 3,035 4,050 170 4/1/2016 North Port-Sarasota-Bradenton FL 1,985 4,299 668 1,985 4,967 6,952 172 1/31/2017 North Port-Sarasota-Bradenton FL 1,336 4,085 — 1,336 4,085 5,421 93 4/6/2017 Orlando-Kissimmee-Sanford FL 2,426 9,314 81 2,426 9,395 11,821 362 11/10/2016 Orlando-Kissimmee-Sanford FL 2,166 4,672 74 2,166 4,746 6,912 204 11/10/2016 Orlando-Kissimmee-Sanford FL 4,583 8,752 74 4,583 8,826 13,409 425 11/10/2016 Orlando-Kissimmee-Sanford FL 4,181 4,268 142 4,181 4,410 8,591 102 6/30/2017 Pensacola-Ferry Pass-Brent FL 1,025 8,157 54 1,025 8,211 9,236 55 10/3/2017 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Punta Gorda FL 1,157 2,079 62 1,157 2,141 3,298 70 4/27/2017 Tampa-St. Petersburg-Clearwater (3) FL 5,436 10,092 20 5,436 10,112 15,548 619 4/1/2016 Tampa-St. Petersburg-Clearwater (3) FL 361 1,238 29 361 1,267 1,628 180 5/4/2015 Tampa-St. Petersburg-Clearwater FL 3,581 2,612 22 3,581 2,634 6,215 96 5/1/2017 Tampa-St. Petersburg-Clearwater FL 4,708 13,984 56 4,708 14,040 18,748 279 5/24/2017 Atlanta-Sandy Springs-Marietta GA 515 687 97 515 784 1,299 227 8/29/2007 Atlanta-Sandy Springs-Marietta GA 272 1,357 275 272 1,632 1,904 443 8/29/2007 Atlanta-Sandy Springs-Marietta GA 702 1,999 293 702 2,292 2,994 646 8/29/2007 Atlanta-Sandy Springs-Marietta GA 1,413 1,590 159 1,413 1,749 3,162 492 8/29/2007 Atlanta-Sandy Springs-Marietta GA 341 562 129 341 691 1,032 212 8/29/2007 Atlanta-Sandy Springs-Marietta GA 553 847 169 553 1,016 1,569 305 8/29/2007 Atlanta-Sandy Springs-Marietta GA 85 445 260 85 705 790 223 9/28/2007 Atlanta-Sandy Springs-Marietta (3) GA 494 2,215 235 494 2,450 2,944 653 9/28/2007 Atlanta-Sandy Springs-Marietta GA 1,614 2,476 1,674 1,614 4,150 5,764 239 7/29/2015 Atlanta-Sandy Springs-Marietta GA 1,595 2,143 218 1,595 2,361 3,956 250 7/29/2015 Atlanta-Sandy Springs-Marietta GA 666 5,961 10 666 5,971 6,637 100 7/17/2017 Atlanta-Sandy Springs-Marietta GA 1,028 7,041 6 1,028 7,047 8,075 70 10/19/2017 Atlanta-Sandy Springs-Marietta GA 748 3,382 7 748 3,389 4,137 30 10/19/2017 Atlanta-Sandy Springs-Marietta GA 703 4,014 7 703 4,021 4,724 35 10/19/2017 Atlanta-Sandy Springs-Marietta GA 1,873 9,109 4 1,873 9,113 10,986 73 10/19/2017 Atlanta-Sandy Springs-Marietta GA 547 4,073 5 547 4,078 4,625 34 10/19/2017 Atlanta-Sandy Springs-Marietta GA 1,499 5,279 — 1,499 5,279 6,778 45 10/19/2017 Atlanta-Sandy Springs-Marietta GA 763 5,135 4 763 5,139 5,902 36 10/19/2017 Atlanta-Sandy Springs-Marietta GA 795 2,941 — 795 2,941 3,736 25 10/19/2017 Atlanta-Sandy Springs-Marietta GA 1,356 7,516 9 1,356 7,525 8,881 61 10/19/2017 Atlanta-Sandy Springs-Marietta GA 912 5,074 — 912 5,074 5,986 37 10/19/2017 Atlanta-Sandy Springs-Marietta GA 570 3,477 10 570 3,487 4,057 30 10/19/2017 Atlanta-Sandy Springs-Marietta GA 1,052 7,102 4 1,052 7,106 8,158 50 10/19/2017 Atlanta-Sandy Springs-Rosewell GA 430 3,470 12 430 3,482 3,912 246 3/29/2016 Atlanta-Sandy Springs-Rosewell GA 972 2,342 2 972 2,344 3,316 126 8/17/2016 Augusta GA 84 539 147 84 686 770 210 8/29/2007 Augusta GA 205 686 141 205 827 1,032 238 8/29/2007 Columbus (3) GA 169 342 156 169 498 667 118 5/1/2009 Macon GA 180 840 41 180 881 1,061 235 9/28/2007 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Savannah GA 1,741 1,160 317 1,741 1,477 3,218 366 8/29/2007 Savannah (3) GA 597 762 164 597 926 1,523 264 9/28/2007 Savannah GA 409 1,335 20 409 1,355 1,764 313 1/31/2014 Savannah GA 811 1,181 132 811 1,313 2,124 301 6/25/2014 St. Louis IL 225 4,394 95 225 4,489 4,714 63 8/28/2017 St. Louis IL 179 5,154 57 179 5,211 5,390 74 8/28/2017 St. Louis IL 226 3,088 76 226 3,164 3,390 50 8/28/2017 St. Louis IL 174 3,338 72 174 3,410 3,584 39 9/25/2017 Indianapolis-Carmel-Anderson IN 855 7,273 12 855 7,285 8,140 482 2/16/2016 Indianapolis-Carmel-Anderson IN 815 3,844 8 815 3,852 4,667 316 2/16/2016 Indianapolis-Carmel-Anderson IN 688 3,845 12 688 3,857 4,545 319 2/16/2016 Indianapolis-Carmel-Anderson IN 626 4,049 31 626 4,080 4,706 296 2/25/2016 Indianapolis-Carmel-Anderson IN 1,118 4,444 274 1,118 4,718 5,836 416 2/25/2016 Indianapolis-Carmel-Anderson IN 614 5,487 37 614 5,524 6,138 354 2/25/2016 Indianapolis-Carmel-Anderson IN 619 2,140 14 619 2,154 2,773 140 11/10/2016 Indianapolis-Carmel-Anderson IN 689 6,944 27 689 6,971 7,660 272 11/10/2016 Indianapolis-Carmel-Anderson IN 609 3,172 20 609 3,192 3,801 172 11/10/2016 Indianapolis-Carmel-Anderson IN 532 5,441 19 532 5,460 5,992 211 11/10/2016 Indianapolis-Carmel-Anderson IN 433 5,817 10 433 5,827 6,260 216 11/10/2016 Indianapolis-Carmel-Anderson IN 688 5,413 22 688 5,435 6,123 244 11/10/2016 Indianapolis-Carmel-Anderson IN 575 5,168 22 575 5,190 5,765 216 11/10/2016 Indianapolis-Carmel-Anderson IN 522 5,366 16 522 5,382 5,904 212 11/10/2016 Indianapolis-Carmel-Anderson IN 528 2,877 9 528 2,886 3,414 30 10/19/2017 Indianapolis-Carmel-Anderson IN 1,257 6,694 — 1,257 6,694 7,951 57 10/19/2017 Kansas City KS 816 5,432 30 816 5,462 6,278 47 10/19/2017 Kansas City KS 975 6,967 24 975 6,991 7,966 64 10/19/2017 Kansas City KS 719 5,143 23 719 5,166 5,885 39 10/19/2017 Louisville/Jefferson County (3) KY 2,174 3,667 28 2,174 3,695 5,869 370 5/1/2015 Baton Rouge LA 386 1,744 57 386 1,801 2,187 119 4/12/2016 Baton Rouge LA 1,098 5,208 505 1,098 5,713 6,811 398 4/12/2016 Baton Rouge LA 1,203 3,156 221 1,203 3,377 4,580 219 7/21/2016 Baton Rouge LA 755 2,702 260 755 2,962 3,717 188 7/21/2016 New Orleans-Metairie LA 1,287 6,235 112 1,287 6,347 7,634 394 4/12/2016 Shreveport-Bossier City LA 971 3,474 52 1,549 4,936 6,485 365 5/5/2015 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Shreveport-Bossier City LA 964 3,573 31 964 3,604 4,568 433 5/5/2015 Shreveport-Bossier City LA 772 2,906 24 772 2,930 3,702 349 5/5/2015 Shreveport-Bossier City LA 479 1,439 28 479 1,467 1,946 184 5/5/2015 Shreveport-Bossier City LA 475 854 42 475 896 1,371 135 5/5/2015 Shreveport-Bossier City LA 645 2,004 6 645 2,010 2,655 28 10/19/2017 Shreveport-Bossier City LA 654 3,589 27 654 3,616 4,270 28 10/19/2017 Shreveport-Bossier City LA 906 3,618 12 906 3,630 4,536 31 10/19/2017 Shreveport-Bossier City (4) LA — 5,113 13 — 5,126 5,126 33 10/19/2017 Worchester MA 414 4,122 7 414 4,129 4,543 83 6/30/2017 Nonmetropolitan Area MD 965 6,738 115 965 6,853 7,818 135 7/31/2017 Nonmetropolitan Area MD 550 2,409 76 550 2,485 3,035 37 9/6/2017 St. Louis MO 352 7,100 15 352 7,115 7,467 108 8/28/2017 St. Louis MO 163 1,025 13 163 1,038 1,201 16 8/28/2017 St. Louis MO 354 4,034 18 354 4,052 4,406 62 8/28/2017 Gulfport-Biloxi-Pascagoula MS 645 2,413 244 645 2,657 3,302 262 4/12/2016 Meridian (3) MS 224 1,052 141 224 1,193 1,417 264 5/1/2009 Meridian (3) MS 382 803 189 382 992 1,374 224 5/1/2009 Charlotte-Concord-Gastonia NC 1,871 4,174 66 1,871 4,240 6,111 422 5/1/2015 Charlotte-Concord-Gastonia (3) NC 1,108 3,935 42 1,108 3,977 5,085 407 5/4/2015 Charlotte-Concord-Gastonia (3) NC 2,301 4,458 155 2,301 4,613 6,914 505 5/4/2015 Charlotte-Concord-Gastonia (3) NC 1,862 3,297 83 1,862 3,380 5,242 366 9/2/2015 Durham-Chapel Hill NC 390 1,025 188 390 1,213 1,603 343 8/29/2007 Durham-Chapel Hill (3) NC 663 2,743 225 663 2,968 3,631 805 9/28/2007 Durham-Chapel Hill NC 1,024 1,383 386 1,024 1,769 2,793 466 9/28/2007 Durham-Chapel Hill NC 1,711 4,180 21 1,711 4,201 5,912 382 5/1/2015 Fayetteville NC 636 2,169 1,659 636 3,828 4,464 986 8/29/2007 Fayetteville (3) NC 151 5,392 254 151 5,646 5,797 1,454 9/28/2007 Fayetteville NC 1,319 3,444 20 1,319 3,464 4,783 539 10/10/2013 Fayetteville NC 772 3,406 24 772 3,430 4,202 439 10/10/2013 Fayetteville (3) NC 1,276 4,527 25 1,276 4,552 5,828 527 12/20/2013 Fayetteville (3) NC 1,195 2,072 — 1,195 2,072 3,267 174 10/1/2015 Fayetteville (3) NC 830 3,710 22 830 3,732 4,562 256 10/1/2015 Greensboro-High Point NC 873 769 199 873 968 1,841 286 8/29/2007 Jacksonville NC 1,265 2,123 74 1,265 2,197 3,462 324 5/1/2015 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Nonmetropolitan Area NC 530 2,394 5 530 2,399 2,929 280 12/11/2014 Nonmetropolitan Area NC 667 2,066 12 667 2,078 2,745 257 12/11/2014 Nonmetropolitan Area (3) NC 689 3,153 27 689 3,180 3,869 323 5/6/2015 Nonmetropolitan Area NC 2,093 2,045 5 2,093 2,050 4,143 46 8/4/2017 Raleigh-Cary NC 396 1,700 167 396 1,867 2,263 534 8/29/2007 Raleigh-Cary NC 393 1,190 134 393 1,324 1,717 374 8/29/2007 Raleigh-Cary NC 907 2,913 105 907 3,018 3,925 804 8/29/2007 Raleigh-Cary (3) NC 1,578 4,678 70 1,578 4,748 6,326 422 5/4/2015 Wilmington NC 1,283 1,747 94 1,283 1,841 3,124 499 8/29/2007 Wilmington (3) NC 860 828 71 860 899 1,759 245 9/28/2007 Wilmington NC 1,881 4,618 35 1,881 4,653 6,534 438 5/1/2015 Winston-Salem NC 362 529 74 362 603 965 169 8/29/2007 Concord NH 632 1,040 22 632 1,062 1,694 360 6/24/2013 Concord NH 197 901 19 197 920 1,117 281 6/24/2013 Dover-Durham NH 1,488 7,300 44 1,488 7,344 8,832 1,025 7/1/2014 Boston-Cambridge-Quincy NH 899 3,863 38 899 3,901 4,800 308 9/22/2015 Manchester-Nashua NH 1,786 6,100 19 1,786 6,119 7,905 411 2/22/2016 Manchester-Nashua NH 1,395 5,573 29 1,395 5,602 6,997 347 2/22/2016 Nonmetropolitan Area NH 2,053 5,425 19 2,053 5,444 7,497 112 6/15/2017 Greater New Hampshire NH 1,528 2,686 14 1,528 2,700 4,228 250 2/22/2016 Rockingham County-Strafford County NH 1,597 3,138 66 1,597 3,204 4,801 249 2/22/2016 Rockingham County-Strafford County NH 1,445 2,957 58 1,445 3,015 4,460 248 2/22/2016 Albuquerque NM 1,089 2,845 157 1,089 3,002 4,091 233 8/31/2016 Albuquerque NM 854 3,436 81 854 3,517 4,371 181 9/19/2016 Las Vegas-Henderson-Paradise NV 1,757 4,223 54 1,757 4,277 6,034 243 9/20/2016 Las Vegas-Henderson-Paradise NV 1,121 1,510 51 1,121 1,561 2,682 113 9/20/2016 Las Vegas-Henderson-Paradise NV 2,160 4,544 187 2,160 4,731 6,891 179 11/17/2016 Las Vegas-Paradise NV 1,169 3,616 83 1,169 3,699 4,868 1,009 12/23/2013 Las Vegas-Paradise NV 389 2,850 66 389 2,916 3,305 474 4/1/2014 Las Vegas-Paradise NV 794 1,406 86 794 1,492 2,286 309 7/1/2014 Las Vegas-Paradise NV 2,362 8,445 60 2,362 8,505 10,867 97 8/15/2017 Las Vegas-Paradise NV 2,157 2,753 13 2,157 2,766 4,923 46 8/15/2017 Las Vegas-Paradise NV 1,296 8,039 82 1,296 8,121 9,417 85 8/15/2017 Las Vegas-Paradise NV 828 2,030 120 828 2,150 2,978 33 8/29/2017 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Las Vegas-Paradise NV 3,864 2,870 125 3,864 2,995 6,859 65 8/29/2017 Canton-Massillon OH 83 2,911 19 83 2,930 3,013 132 11/10/2016 Canton-Massillon OH 292 2,107 32 292 2,139 2,431 199 11/10/2016 Cleveland-Elyria OH 169 2,702 24 169 2,726 2,895 116 11/10/2016 Cleveland-Elyria OH 193 3,323 22 193 3,345 3,538 128 11/10/2016 Cleveland-Elyria OH 490 1,050 23 490 1,073 1,563 73 11/10/2016 Cleveland-Elyria OH 845 4,916 29 845 4,945 5,790 223 11/10/2016 Cleveland-Elyria OH 842 2,044 23 842 2,067 2,909 148 11/10/2016 Oklahoma City OK 388 3,142 133 388 3,275 3,663 920 5/29/2007 Oklahoma City OK 213 1,383 76 213 1,459 1,672 406 5/29/2007 Oklahoma City OK 561 2,355 434 561 2,789 3,350 850 5/29/2007 Oklahoma City OK 349 2,368 443 349 2,811 3,160 836 5/29/2007 Oklahoma City OK 466 2,544 106 466 2,650 3,116 730 5/29/2007 Oklahoma City OK 144 1,576 148 144 1,724 1,868 515 5/29/2007 Oklahoma City OK 168 1,696 245 168 1,941 2,109 565 5/29/2007 Oklahoma City OK 220 1,606 116 220 1,722 1,942 475 5/30/2007 Oklahoma City OK 376 1,460 36 376 1,496 1,872 405 5/30/2007 Oklahoma City OK 337 2,788 89 337 2,877 3,214 784 5/30/2007 Oklahoma City OK 814 3,161 1,169 814 4,330 5,144 843 5/30/2007 Oklahoma City OK 590 1,502 1,751 590 3,253 3,843 801 8/29/2007 Oklahoma City OK 205 1,772 451 205 2,223 2,428 642 5/1/2009 Oklahoma City OK 701 4,926 — 701 4,926 5,627 210 9/1/2016 Oklahoma City OK 1,082 4,218 10 1,082 4,228 5,310 292 1/1/2016 Oklahoma City OK 736 2,925 3 736 2,928 3,664 247 1/1/2016 Oklahoma City OK 1,135 3,759 4 1,135 3,763 4,898 275 1/1/2016 Tulsa OK 548 1,892 73 548 1,965 2,513 529 8/29/2007 Tulsa OK 764 1,386 372 764 1,758 2,522 494 8/29/2007 Tulsa OK 1,305 2,533 112 1,305 2,645 3,950 720 8/29/2007 Tulsa OK 940 2,196 223 940 2,419 3,359 665 8/29/2007 Tulsa OK 59 466 300 59 766 825 205 8/29/2007 Tulsa OK 426 1,424 222 426 1,646 2,072 530 8/29/2007 Tulsa OK 250 667 148 250 815 1,065 246 8/29/2007 Tulsa (3) OK 944 2,085 55 944 2,140 3,084 540 2/14/2008 Tulsa (3) OK 892 2,421 29 892 2,450 3,342 615 2/14/2008 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Tulsa OK 492 1,343 65 492 1,408 1,900 356 4/1/2008 Tulsa OK 505 1,346 724 505 2,070 2,575 669 4/1/2008 Tulsa OK 466 1,270 102 466 1,372 1,838 356 4/1/2008 Tulsa (3) OK 1,103 4,431 44 1,103 4,475 5,578 1,316 6/10/2013 Bend OR 295 1,369 7 295 1,376 1,671 382 4/1/2013 Bend OR 1,692 2,410 29 1,692 2,439 4,131 722 4/1/2013 Bend (3) OR 571 1,917 3 571 1,920 2,491 353 6/10/2013 Bend (3) OR 397 1,180 99 397 1,279 1,676 369 6/10/2013 Bend OR 690 1,983 77 690 2,060 2,750 363 5/1/2014 Bend OR 722 2,151 4 722 2,155 2,877 346 5/1/2014 Bend OR 800 2,836 6 800 2,842 3,642 458 5/1/2014 Bend-Redmond OR 2,688 10,731 — 2,688 10,731 13,419 684 4/15/2016 Corvallis OR 382 1,465 — 382 1,465 1,847 310 12/30/2013 Eugene-Springfield OR 710 1,539 62 710 1,601 2,311 406 4/1/2013 Eugene-Springfield OR 842 1,674 32 842 1,706 2,548 456 4/1/2013 Eugene-Springfield (3) OR 414 1,990 — 414 1,990 2,404 313 6/10/2013 Eugene-Springfield (3) OR 1,149 2,061 37 1,149 2,098 3,247 404 6/10/2013 Eugene-Springfield OR 728 3,230 105 728 3,335 4,063 458 12/30/2013 Eugene-Springfield OR 1,601 2,686 87 1,601 2,773 4,374 649 4/1/2014 Hood River OR 997 1,874 — 997 1,874 2,871 242 12/1/2014 Portland-Vancouver-Hillsboro OR 851 2,063 4 851 2,067 2,918 352 4/1/2013 Portland-Vancouver-Hillsboro OR 1,704 2,313 99 1,704 2,412 4,116 568 4/1/2013 Portland-Vancouver-Hillsboro OR 1,254 2,787 12 1,254 2,799 4,053 492 4/1/2013 Portland-Vancouver-Hillsboro OR 2,808 4,437 19 2,808 4,456 7,264 1,022 4/1/2013 Portland-Vancouver-Hillsboro OR 1,015 2,184 3 1,015 2,187 3,202 408 4/1/2013 Portland-Vancouver-Hillsboro (3) OR 1,077 3,008 139 1,077 3,147 4,224 468 6/10/2013 Portland-Vancouver-Hillsboro (3) OR 1,072 2,629 18 1,072 2,647 3,719 557 6/10/2013 Portland-Vancouver-Hillsboro (3) OR 2,217 3,766 15 2,217 3,781 5,998 626 6/10/2013 Portland-Vancouver-Hillsboro (3) OR 1,334 2,324 126 1,334 2,450 3,784 486 6/10/2013 Portland-Vancouver-Hillsboro (3) OR 996 2,525 89 996 2,614 3,610 500 6/10/2013 Portland-Vancouver-Hillsboro OR 1,496 3,372 79 1,496 3,451 4,947 535 6/24/2013 Portland-Vancouver-Hillsboro OR 954 3,026 41 954 3,067 4,021 436 6/24/2013 Portland-Vancouver-Hillsboro OR 1,627 2,388 70 1,627 2,458 4,085 429 6/24/2013 Portland-Vancouver-Hillsboro OR 2,509 4,200 66 2,509 4,266 6,775 704 12/30/2013 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Portland-Vancouver-Hillsboro OR 787 1,915 62 787 1,977 2,764 297 12/30/2013 Portland-Vancouver-Hillsboro OR 1,703 4,729 9 1,703 4,738 6,441 635 4/1/2014 Portland-Vancouver-Hillsboro OR 738 2,483 — 738 2,483 3,221 334 4/1/2014 Portland-Vancouver-Hillsboro OR 1,690 2,995 39 1,690 3,034 4,724 324 4/1/2014 Portland-Vancouver-Hillsboro OR 1,200 9,531 204 1,200 9,735 10,935 1,771 5/30/2014 Portland-Vancouver-Hillsboro OR 401 3,718 80 401 3,798 4,199 556 5/30/2014 Portland-Vancouver-Hillsboro OR 1,160 3,291 21 1,160 3,312 4,472 470 6/30/2014 Portland-Vancouver-Hillsboro OR 1,435 4,342 — 1,435 4,342 5,777 622 6/30/2014 Portland-Vancouver-Hillsboro OR 1,478 4,127 6 1,478 4,133 5,611 585 6/30/2014 Portland-Vancouver-Hillsboro OR 1,402 3,196 — 1,402 3,196 4,598 434 6/30/2014 Portland-Vancouver-Hillsboro OR 3,538 4,938 6 3,398 3,984 7,382 569 6/30/2014 Portland-Vancouver-Hillsboro OR 1,501 3,136 6 1,501 3,142 4,643 445 6/30/2014 Portland-Vancouver-Hillsboro OR 1,746 3,393 11 1,746 3,404 5,150 482 8/27/2014 Portland-Vancouver-Hillsboro OR 1,014 3,017 11 1,014 3,028 4,042 445 8/27/2014 Portland-Vancouver-Hillsboro OR 2,202 3,477 113 2,202 3,590 5,792 521 10/20/2014 Portland-Vancouver-Hillsboro OR 1,764 7,360 — 1,764 7,360 9,124 829 12/16/2014 Portland-Vancouver-Hillsboro OR 2,670 8,709 53 2,670 8,762 11,432 561 8/10/2015 Portland-Vancouver-Hillsboro OR 410 622 179 410 801 1,211 48 7/14/2016 Portland-Vancouver-Hillsboro OR 1,258 6,298 3 1,258 6,301 7,559 208 11/21/2016 Portland-Vancouver-Hillsboro OR 2,334 7,726 33 2,334 7,759 10,093 298 12/6/2016 Portland-Vancouver-Hillsboro OR 771 4,121 — 771 4,121 4,892 17 11/15/2017 Portland-Vancouver-Hillsboro OR 2,002 14,445 — 2,002 14,445 16,447 24 12/14/2017 Portland-Vancouver-Hillsboro OR 860 3,740 — 860 3,740 4,600 118 1/11/2017 Prineville OR 427 1,648 — 427 1,648 2,075 227 8/27/2014 Roseburg (3) OR 474 1,789 79 474 1,868 2,342 371 6/10/2013 Salem OR 1,405 2,650 413 1,405 3,063 4,468 607 4/1/2014 Salem OR 492 1,248 18 492 1,266 1,758 112 4/20/2016 The Dalles OR 1,108 2,100 — 1,108 2,100 3,208 293 12/5/2014 Anderson SC 92 976 119 92 1,095 1,187 312 8/29/2007 Charlotte-Gastonia-Rock Hill (3) SC 924 3,086 32 924 3,118 4,042 303 5/4/2015 Greenville-Mauldin-Easley SC 82 838 74 82 912 994 249 8/29/2007 Spartanburg SC 535 1,934 23 535 1,957 2,492 185 11/12/2015 Amarillo (3) TX 80 877 106 80 983 1,063 227 5/1/2009 Amarillo (3) TX 78 697 136 78 833 911 196 5/1/2009 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Amarillo (3) TX 147 810 145 147 955 1,102 219 5/1/2009 Austin-Round Rock-San Marcos TX 937 5,319 80 937 5,399 6,336 766 6/24/2013 Austin-Round Rock-San Marcos TX 1,395 2,790 20 1,395 2,810 4,205 616 6/24/2013 Austin-Round Rock-San Marcos TX 768 1,923 111 768 2,034 2,802 297 10/29/2014 Austin-Round Rock-San Marcos TX 936 6,446 15 936 6,461 7,397 40 10/19/2017 Brownsville-Harlingen TX 845 2,364 63 845 2,427 3,272 285 9/4/2014 Brownsville-Harlingen TX 639 1,674 85 639 1,759 2,398 250 9/4/2014 Brownsville-Harlingen TX 386 2,798 178 386 2,976 3,362 201 5/2/2016 College Station-Bryan TX 618 2,512 57 618 2,569 3,187 677 8/29/2007 College Station-Bryan TX 551 349 215 551 564 1,115 139 8/29/2007 College Station-Bryan TX 295 988 150 295 1,138 1,433 269 4/1/2008 College Station-Bryan TX 51 123 63 51 186 237 57 4/1/2008 College Station-Bryan TX 110 372 133 110 505 615 116 4/1/2008 College Station-Bryan TX 62 208 13 62 221 283 56 4/1/2008 Dallas-Fort Worth-Arlington TX 164 865 49 164 914 1,078 247 8/29/2007 Dallas-Fort Worth-Arlington TX 155 105 53 155 158 313 52 9/28/2007 Dallas-Fort Worth-Arlington TX 98 282 96 98 378 476 120 9/28/2007 Dallas-Fort Worth-Arlington TX 264 106 165 264 271 535 94 9/28/2007 Dallas-Fort Worth-Arlington (3) TX 376 803 120 376 923 1,299 263 9/28/2007 Dallas-Fort Worth-Arlington (3) TX 338 681 101 338 782 1,120 214 9/28/2007 Dallas-Fort Worth-Arlington TX 1,388 4,195 37 1,388 4,232 5,620 700 6/24/2013 Dallas-Fort Worth-Arlington TX 1,859 5,293 122 1,859 5,415 7,274 847 7/25/2013 Dallas-Fort Worth-Arlington TX 379 2,212 102 379 2,314 2,693 510 7/25/2013 Dallas-Fort Worth-Arlington TX 1,397 5,250 82 1,397 5,332 6,729 782 7/25/2013 Dallas-Fort Worth-Arlington TX 2,102 5,755 89 2,102 5,844 7,946 998 7/25/2013 Dallas-Fort Worth-Arlington TX 649 1,637 35 649 1,672 2,321 532 7/25/2013 Dallas-Fort Worth-Arlington TX 396 1,411 438 396 1,849 2,245 289 4/29/2015 Dallas-Fort Worth-Arlington TX 1,263 3,346 50 1,263 3,396 4,659 396 10/19/2015 Dallas-Plano-Irving TX 1,421 2,349 450 1,421 2,799 4,220 205 6/1/2016 Dallas-Plano-Irving TX 710 3,578 38 710 3,616 4,326 35 10/19/2017 Dallas-Plano-Irving TX 421 2,668 10 421 2,678 3,099 24 10/19/2017 El Paso TX 338 1,275 42 338 1,317 1,655 353 8/29/2007 El Paso TX 94 400 168 94 568 662 155 8/29/2007 Houston-Sugar Land-Baytown TX 698 2,648 233 698 2,881 3,579 284 7/20/2015 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Houston-The Woodlands-Sugar Land TX 1,042 3,061 382 1,042 3,443 4,485 281 1/22/2016 Houston-The Woodlands-Sugar Land TX 1,426 2,910 100 1,426 3,010 4,436 78 6/13/2017 Killeen-Temple TX 203 4,065 190 203 4,255 4,458 125 2/2/2017 Killeen-Temple TX 1,128 6,149 186 1,128 6,335 7,463 90 8/8/2017 Longview (3) TX 651 671 100 651 771 1,422 178 5/1/2009 Longview (3) TX 104 489 164 104 653 757 142 5/1/2009 Longview (3) TX 310 966 199 310 1,165 1,475 261 5/1/2009 Longview TX 2,466 3,559 39 2,466 3,598 6,064 480 6/19/2014 Longview TX 959 1,640 18 959 1,658 2,617 238 6/25/2014 McAllen–Edinburg–Mission TX 1,217 2,738 262 1,243 3,000 4,243 544 7/31/2014 McAllen–Edinburg–Mission TX 1,973 4,517 57 1,973 4,574 6,547 661 9/4/2014 McAllen–Edinburg–Mission TX 1,295 3,929 61 1,295 3,990 5,285 565 9/4/2014 McAllen–Edinburg–Mission TX 3,079 7,574 82 3,079 7,656 10,735 1,164 9/4/2014 McAllen–Edinburg–Mission TX 1,017 3,261 65 1,017 3,326 4,343 462 9/4/2014 McAllen–Edinburg–Mission TX 803 2,914 74 803 2,988 3,791 335 9/4/2014 McAllen–Edinburg–Mission TX 2,249 4,966 51 2,249 5,017 7,266 742 9/4/2014 McAllen–Edinburg–Mission TX 1,118 3,568 62 1,118 3,630 4,748 432 9/4/2014 Midland (3) TX 691 1,588 163 691 1,751 2,442 386 5/1/2009 Odessa (3) TX 168 561 103 168 664 832 156 5/1/2009 |
Schedule III - Reconciliation
Schedule III - Reconciliation | 12 Months Ended |
Dec. 31, 2017 | |
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract] | |
SEC Schedule III - Reconciliation | Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Mobile AL $ 991 $ 4,874 $ 712 $ 991 $ 5,586 $ 6,577 $ 530 4/12/2016 Lake Havasu City-Kingman AZ 671 1,572 27 671 1,599 2,270 309 4/1/2014 Lake Havasu City-Kingman AZ 722 2,546 45 722 2,591 3,313 528 7/1/2014 Phoenix-Mesa-Glendale AZ 1,089 6,607 55 1,089 6,662 7,751 1,052 6/30/2014 Phoenix-Mesa-Glendale AZ 3,813 7,831 59 3,813 7,890 11,703 922 9/30/2014 Phoenix-Mesa-Glendale AZ 1,375 2,613 38 1,375 2,651 4,026 555 9/30/2014 Phoenix-Mesa-Glendale AZ 1,653 7,531 16 1,653 7,547 9,200 759 10/1/2014 Phoenix-Mesa-Glendale AZ 1,661 3,311 44 1,661 3,355 5,016 425 10/1/2014 Phoenix-Mesa-Glendale AZ 1,050 5,359 21 1,050 5,380 6,430 409 1/1/2015 Phoenix-Mesa-Glendale AZ 1,198 1,921 2 1,198 1,923 3,121 242 5/1/2015 Phoenix-Mesa-Glendale AZ 1,324 3,626 35 1,324 3,661 4,985 375 5/1/2015 Phoenix-Mesa-Glendale AZ 3,816 4,348 8 3,816 4,356 8,172 433 5/1/2015 Phoenix-Mesa-Scottsdale AZ 5,576 6,746 218 5,576 6,964 12,540 581 5/19/2016 Phoenix-Mesa-Scottsdale AZ 1,506 2,881 68 1,506 2,949 4,455 175 7/29/2016 Phoenix-Mesa-Scottsdale AZ 2,120 5,442 17 2,120 5,459 7,579 162 2/13/2017 Tucson AZ 421 3,855 74 421 3,929 4,350 484 8/29/2013 Tucson AZ 716 1,365 7 716 1,372 2,088 319 8/29/2013 Anaheim-Santa Ana-Irvine CA 1,530 5,799 289 1,530 6,088 7,618 241 8/1/2016 Bakersfield CA 511 2,804 43 511 2,847 3,358 174 8/1/2016 Bakersfield CA 1,409 3,907 38 1,409 3,945 5,354 214 8/1/2016 Bakersfield CA 1,882 3,858 82 1,882 3,940 5,822 250 8/1/2016 Bakersfield CA 1,355 4,678 27 1,355 4,705 6,060 277 8/1/2016 Bakersfield CA 1,306 3,440 115 1,306 3,555 4,861 274 8/1/2016 Bakersfield CA 1,016 3,638 34 1,016 3,672 4,688 193 8/1/2016 Bakersfield CA 1,579 3,357 21 1,579 3,378 4,957 225 8/1/2016 Bakersfield CA 750 5,802 95 750 5,897 6,647 322 8/1/2016 Fresno CA 840 7,502 323 840 7,825 8,665 591 8/1/2016 Los Angeles-Long Beach-Glendale CA 2,345 6,820 619 2,345 7,439 9,784 297 8/1/2016 Los Angeles-Long Beach-Glendale CA 1,350 11,266 115 1,350 11,381 12,731 523 8/1/2016 Los Angeles-Long Beach-Glendale CA 763 6,258 84 763 6,342 7,105 293 8/1/2016 Los Angeles-Long Beach-Santa Ana CA 6,641 8,239 47 6,641 8,286 14,927 969 4/1/2014 Los Angeles-Long Beach-Santa Ana CA 1,122 1,881 7 1,122 1,888 3,010 296 6/30/2014 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Los Angeles-Long Beach-Santa Ana (3) CA 7,186 12,771 24 7,186 12,795 19,981 1,717 9/17/2014 Los Angeles-Long Beach-Santa Ana (3)(4) CA — 7,106 25 — 7,131 7,131 919 9/17/2014 Los Angeles-Long Beach-Santa Ana (3) CA 2,366 4,892 52 2,366 4,944 7,310 684 9/17/2014 Los Angeles-Long Beach-Santa Ana (3) CA 2,871 3,703 42 2,871 3,745 6,616 435 10/7/2014 Los Angeles-Long Beach-Santa Ana (3) CA 5,448 10,015 148 5,448 10,163 15,611 1,403 10/7/2014 Los Angeles-Long Beach-Santa Ana (4) CA — 13,150 15 — 13,165 13,165 1,320 1/1/2015 Los Angeles-Long Beach-Santa Ana (4) CA — 10,084 61 — 10,145 10,145 62 10/3/2017 Modesto CA 1,526 12,032 31 1,526 12,063 13,589 540 11/10/2016 Modesto CA 773 5,655 4 773 5,659 6,432 212 11/10/2016 Riverside-San Bernardino-Ontario (3) CA 552 3,010 109 552 3,119 3,671 788 5/16/2008 Riverside-San Bernardino-Ontario CA 1,342 4,446 62 1,342 4,508 5,850 1,265 4/1/2013 Riverside-San Bernardino-Ontario CA 1,672 2,564 31 1,672 2,595 4,267 400 4/1/2014 Riverside-San Bernardino-Ontario CA 978 1,854 106 978 1,960 2,938 416 5/30/2014 Riverside-San Bernardino-Ontario CA 1,068 2,609 98 1,068 2,707 3,775 487 5/30/2014 Riverside-San Bernardino-Ontario CA 1,202 2,032 48 1,202 2,080 3,282 331 6/30/2014 Riverside-San Bernardino-Ontario CA 1,803 2,758 36 1,803 2,794 4,597 587 6/30/2014 Riverside-San Bernardino-Ontario CA 1,337 4,489 22 1,337 4,511 5,848 637 6/30/2014 Riverside-San Bernardino-Ontario CA 846 2,508 43 846 2,551 3,397 505 7/1/2014 Riverside-San Bernardino-Ontario (3) CA 1,026 4,552 27 1,026 4,579 5,605 598 9/17/2014 Riverside-San Bernardino-Ontario (3) CA 1,878 5,104 35 1,878 5,139 7,017 597 9/17/2014 Riverside-San Bernardino-Ontario (3) CA 14,109 23,112 199 14,109 23,311 37,420 3,183 9/17/2014 Riverside-San Bernardino-Ontario CA 3,974 6,962 92 3,974 7,054 11,028 1,143 10/1/2014 Riverside-San Bernardino-Ontario CA 2,018 3,478 689 2,018 4,167 6,185 818 10/1/2014 Riverside-San Bernardino-Ontario CA 1,842 3,420 9 1,842 3,429 5,271 356 1/1/2015 Riverside-San Bernardino-Ontario CA 1,981 3,323 35 1,981 3,358 5,339 433 1/1/2015 Riverside-San Bernardino-Ontario (3) CA 3,418 9,907 76 3,418 9,983 13,401 847 8/5/2015 Riverside-San Bernardino-Ontario (3) CA 1,913 6,072 67 1,913 6,139 8,052 619 8/5/2015 Riverside-San Bernardino-Ontario (3) CA 772 4,044 72 772 4,116 4,888 494 8/5/2015 Riverside-San Bernardino-Ontario (3) CA 597 5,464 64 597 5,528 6,125 483 8/5/2015 Riverside-San Bernardino-Ontario (3) CA 3,022 8,124 64 3,022 8,188 11,210 818 8/5/2015 Riverside-San Bernardino-Ontario (3) CA 2,897 5,725 646 2,467 6,371 8,838 755 8/5/2015 Riverside-San Bernardino-Ontario (3) CA 2,835 5,589 827 2,164 6,416 8,580 680 8/5/2015 Riverside-San Bernardino-Ontario (3) CA 2,484 5,903 65 2,484 5,968 8,452 471 8/5/2015 Riverside-San Bernardino-Ontario (3) CA 1,139 5,054 3 1,139 5,057 6,196 460 10/1/2015 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Riverside-San Bernardino-Ontario (3) CA 1,401 4,577 5 1,401 4,582 5,983 323 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 925 3,459 5 925 3,464 4,389 325 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 1,174 2,556 43 1,174 2,599 3,773 288 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 1,506 2,913 9 1,506 2,922 4,428 255 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 631 2,307 35 631 2,342 2,973 278 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 1,318 2,394 3 1,318 2,397 3,715 272 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 1,942 2,647 11 1,942 2,658 4,600 354 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 1,339 2,830 17 1,339 2,847 4,186 291 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 1,105 2,672 5 1,105 2,677 3,782 331 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 1,542 2,127 4 1,542 2,131 3,673 262 10/1/2015 Riverside-San Bernardino-Ontario (3) CA 1,478 4,534 2 1,478 4,536 6,014 329 10/1/2015 Riverside-San Bernardino-Ontario CA 3,245 4,420 1,383 3,245 5,803 9,048 472 5/16/2016 Riverside-San Bernardino-Ontario CA 670 8,613 435 670 9,048 9,718 416 8/1/2016 Riverside-San Bernardino-Ontario CA 538 3,921 367 538 4,288 4,826 198 8/1/2016 Riverside-San Bernardino-Ontario CA 382 3,442 335 382 3,777 4,159 181 8/1/2016 Riverside-San Bernardino-Ontario CA 806 3,852 557 806 4,409 5,215 203 8/1/2016 Riverside-San Bernardino-Ontario CA 570 4,238 314 570 4,552 5,122 211 8/1/2016 Riverside-San Bernardino-Ontario CA 345 3,270 143 345 3,413 3,758 182 8/1/2016 Riverside-San Bernardino-Ontario CA 252 4,419 85 252 4,504 4,756 227 9/1/2016 Riverside-San Bernardino-Ontario CA 2,691 3,950 198 2,691 4,148 6,839 175 9/1/2016 Riverside-San Bernardino-Ontario CA 302 4,169 68 302 4,237 4,539 113 5/8/2017 Riverside-San Bernardino-Ontario CA 896 6,397 117 896 6,514 7,410 167 5/31/2017 Sacramento-Roseville-Arden-Arcade CA 1,195 8,407 5 1,195 8,412 9,607 307 11/10/2016 Sacramento-Roseville-Arden-Arcade CA 425 7,249 12 425 7,261 7,686 295 11/10/2016 San Diego-Carlsbad CA 4,318 19,775 784 4,323 20,559 24,882 821 8/1/2016 San Diego-Carlsbad-San Marcos (3) CA 3,703 5,582 20 3,703 5,602 9,305 667 9/17/2014 San Diego-Carlsbad-San Marcos CA 3,544 4,915 130 3,544 5,045 8,589 627 10/1/2014 San Diego-Carlsbad-San Marcos (4) CA — 5,568 67 — 5,635 5,635 465 1/1/2015 San Diego-Carlsbad-San Marcos (4) CA — 4,041 47 — 4,088 4,088 618 1/31/2015 Stockton-Lodi CA 559 5,514 15 559 5,529 6,088 210 11/10/2016 Stockton-Lodi CA 1,710 8,995 15 1,710 9,010 10,720 389 11/10/2016 Stockton-Lodi CA 1,637 11,901 7 1,637 11,908 13,545 169 7/31/2017 Colorado Springs CO 455 1,351 45 455 1,396 1,851 381 8/29/2007 Colorado Springs CO 588 2,162 1,088 588 3,250 3,838 797 3/26/2008 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Colorado Springs CO 632 3,118 401 632 3,519 4,151 942 3/26/2008 Colorado Springs CO 414 1,535 319 414 1,854 2,268 498 5/1/2008 Colorado Springs (3) CO 300 1,801 108 300 1,909 2,209 415 6/1/2009 Colorado Springs CO 766 5,901 5 766 5,906 6,672 44 10/19/2017 Denver-Aurora-Broomfield CO 868 128 2,301 868 2,429 3,297 467 6/22/2009 Denver-Aurora-Lakewood CO 938 8,449 20 938 8,469 9,407 275 11/1/2016 Fort Collins-Loveland CO 3,213 3,087 157 3,213 3,244 6,457 851 8/29/2007 Fort Collins-Loveland CO 2,514 1,786 85 2,514 1,871 4,385 494 8/29/2007 Pueblo CO 156 2,797 6 156 2,803 2,959 181 2/17/2016 Cape Coral-Fort Myers (3) FL 4,122 8,453 31 4,122 8,484 12,606 515 4/1/2016 Cape Coral-Fort Myers (3) FL 571 3,256 36 571 3,292 3,863 278 4/1/2016 Jacksonville FL 2,087 19,473 39 2,087 19,512 21,599 643 11/10/2016 Jacksonville FL 1,629 4,929 20 1,629 4,949 6,578 217 11/10/2016 Jacksonville FL 527 2,434 — 527 2,434 2,961 6 12/20/2017 Lakeland-Winter Haven (3) FL 972 2,159 133 972 2,292 3,264 232 5/4/2015 Naples-Immokalee-Marco Island (3) FL 3,849 16,688 48 3,849 16,736 20,585 863 4/1/2016 North Port-Sarasota-Bradenton (3) FL 2,211 5,682 5 2,211 5,687 7,898 337 4/1/2016 North Port-Sarasota-Bradenton (3) FL 2,488 7,282 58 2,488 7,340 9,828 411 4/1/2016 North Port-Sarasota-Bradenton (3) FL 1,767 5,955 15 1,767 5,970 7,737 382 4/1/2016 North Port-Sarasota-Bradenton FL 2,143 5,005 99 2,143 5,104 7,247 426 10/11/2016 North Port-Sarasota-Bradenton (3) FL 1,924 4,514 31 1,924 4,545 6,469 322 4/1/2016 North Port-Sarasota-Bradenton FL 1,176 3,421 4 1,176 3,425 4,601 203 4/1/2016 North Port-Sarasota-Bradenton (3) FL 1,839 8,377 4 1,839 8,381 10,220 423 4/1/2016 North Port-Sarasota-Bradenton (3) FL 2,507 7,766 13 2,507 7,779 10,286 429 4/1/2016 North Port-Sarasota-Bradenton (3) FL 1,685 5,439 11 1,685 5,450 7,135 329 4/1/2016 North Port-Sarasota-Bradenton (3) FL 437 5,128 33 437 5,161 5,598 306 4/1/2016 North Port-Sarasota-Bradenton FL 1,015 3,031 4 1,015 3,035 4,050 170 4/1/2016 North Port-Sarasota-Bradenton FL 1,985 4,299 668 1,985 4,967 6,952 172 1/31/2017 North Port-Sarasota-Bradenton FL 1,336 4,085 — 1,336 4,085 5,421 93 4/6/2017 Orlando-Kissimmee-Sanford FL 2,426 9,314 81 2,426 9,395 11,821 362 11/10/2016 Orlando-Kissimmee-Sanford FL 2,166 4,672 74 2,166 4,746 6,912 204 11/10/2016 Orlando-Kissimmee-Sanford FL 4,583 8,752 74 4,583 8,826 13,409 425 11/10/2016 Orlando-Kissimmee-Sanford FL 4,181 4,268 142 4,181 4,410 8,591 102 6/30/2017 Pensacola-Ferry Pass-Brent FL 1,025 8,157 54 1,025 8,211 9,236 55 10/3/2017 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Punta Gorda FL 1,157 2,079 62 1,157 2,141 3,298 70 4/27/2017 Tampa-St. Petersburg-Clearwater (3) FL 5,436 10,092 20 5,436 10,112 15,548 619 4/1/2016 Tampa-St. Petersburg-Clearwater (3) FL 361 1,238 29 361 1,267 1,628 180 5/4/2015 Tampa-St. Petersburg-Clearwater FL 3,581 2,612 22 3,581 2,634 6,215 96 5/1/2017 Tampa-St. Petersburg-Clearwater FL 4,708 13,984 56 4,708 14,040 18,748 279 5/24/2017 Atlanta-Sandy Springs-Marietta GA 515 687 97 515 784 1,299 227 8/29/2007 Atlanta-Sandy Springs-Marietta GA 272 1,357 275 272 1,632 1,904 443 8/29/2007 Atlanta-Sandy Springs-Marietta GA 702 1,999 293 702 2,292 2,994 646 8/29/2007 Atlanta-Sandy Springs-Marietta GA 1,413 1,590 159 1,413 1,749 3,162 492 8/29/2007 Atlanta-Sandy Springs-Marietta GA 341 562 129 341 691 1,032 212 8/29/2007 Atlanta-Sandy Springs-Marietta GA 553 847 169 553 1,016 1,569 305 8/29/2007 Atlanta-Sandy Springs-Marietta GA 85 445 260 85 705 790 223 9/28/2007 Atlanta-Sandy Springs-Marietta (3) GA 494 2,215 235 494 2,450 2,944 653 9/28/2007 Atlanta-Sandy Springs-Marietta GA 1,614 2,476 1,674 1,614 4,150 5,764 239 7/29/2015 Atlanta-Sandy Springs-Marietta GA 1,595 2,143 218 1,595 2,361 3,956 250 7/29/2015 Atlanta-Sandy Springs-Marietta GA 666 5,961 10 666 5,971 6,637 100 7/17/2017 Atlanta-Sandy Springs-Marietta GA 1,028 7,041 6 1,028 7,047 8,075 70 10/19/2017 Atlanta-Sandy Springs-Marietta GA 748 3,382 7 748 3,389 4,137 30 10/19/2017 Atlanta-Sandy Springs-Marietta GA 703 4,014 7 703 4,021 4,724 35 10/19/2017 Atlanta-Sandy Springs-Marietta GA 1,873 9,109 4 1,873 9,113 10,986 73 10/19/2017 Atlanta-Sandy Springs-Marietta GA 547 4,073 5 547 4,078 4,625 34 10/19/2017 Atlanta-Sandy Springs-Marietta GA 1,499 5,279 — 1,499 5,279 6,778 45 10/19/2017 Atlanta-Sandy Springs-Marietta GA 763 5,135 4 763 5,139 5,902 36 10/19/2017 Atlanta-Sandy Springs-Marietta GA 795 2,941 — 795 2,941 3,736 25 10/19/2017 Atlanta-Sandy Springs-Marietta GA 1,356 7,516 9 1,356 7,525 8,881 61 10/19/2017 Atlanta-Sandy Springs-Marietta GA 912 5,074 — 912 5,074 5,986 37 10/19/2017 Atlanta-Sandy Springs-Marietta GA 570 3,477 10 570 3,487 4,057 30 10/19/2017 Atlanta-Sandy Springs-Marietta GA 1,052 7,102 4 1,052 7,106 8,158 50 10/19/2017 Atlanta-Sandy Springs-Rosewell GA 430 3,470 12 430 3,482 3,912 246 3/29/2016 Atlanta-Sandy Springs-Rosewell GA 972 2,342 2 972 2,344 3,316 126 8/17/2016 Augusta GA 84 539 147 84 686 770 210 8/29/2007 Augusta GA 205 686 141 205 827 1,032 238 8/29/2007 Columbus (3) GA 169 342 156 169 498 667 118 5/1/2009 Macon GA 180 840 41 180 881 1,061 235 9/28/2007 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Savannah GA 1,741 1,160 317 1,741 1,477 3,218 366 8/29/2007 Savannah (3) GA 597 762 164 597 926 1,523 264 9/28/2007 Savannah GA 409 1,335 20 409 1,355 1,764 313 1/31/2014 Savannah GA 811 1,181 132 811 1,313 2,124 301 6/25/2014 St. Louis IL 225 4,394 95 225 4,489 4,714 63 8/28/2017 St. Louis IL 179 5,154 57 179 5,211 5,390 74 8/28/2017 St. Louis IL 226 3,088 76 226 3,164 3,390 50 8/28/2017 St. Louis IL 174 3,338 72 174 3,410 3,584 39 9/25/2017 Indianapolis-Carmel-Anderson IN 855 7,273 12 855 7,285 8,140 482 2/16/2016 Indianapolis-Carmel-Anderson IN 815 3,844 8 815 3,852 4,667 316 2/16/2016 Indianapolis-Carmel-Anderson IN 688 3,845 12 688 3,857 4,545 319 2/16/2016 Indianapolis-Carmel-Anderson IN 626 4,049 31 626 4,080 4,706 296 2/25/2016 Indianapolis-Carmel-Anderson IN 1,118 4,444 274 1,118 4,718 5,836 416 2/25/2016 Indianapolis-Carmel-Anderson IN 614 5,487 37 614 5,524 6,138 354 2/25/2016 Indianapolis-Carmel-Anderson IN 619 2,140 14 619 2,154 2,773 140 11/10/2016 Indianapolis-Carmel-Anderson IN 689 6,944 27 689 6,971 7,660 272 11/10/2016 Indianapolis-Carmel-Anderson IN 609 3,172 20 609 3,192 3,801 172 11/10/2016 Indianapolis-Carmel-Anderson IN 532 5,441 19 532 5,460 5,992 211 11/10/2016 Indianapolis-Carmel-Anderson IN 433 5,817 10 433 5,827 6,260 216 11/10/2016 Indianapolis-Carmel-Anderson IN 688 5,413 22 688 5,435 6,123 244 11/10/2016 Indianapolis-Carmel-Anderson IN 575 5,168 22 575 5,190 5,765 216 11/10/2016 Indianapolis-Carmel-Anderson IN 522 5,366 16 522 5,382 5,904 212 11/10/2016 Indianapolis-Carmel-Anderson IN 528 2,877 9 528 2,886 3,414 30 10/19/2017 Indianapolis-Carmel-Anderson IN 1,257 6,694 — 1,257 6,694 7,951 57 10/19/2017 Kansas City KS 816 5,432 30 816 5,462 6,278 47 10/19/2017 Kansas City KS 975 6,967 24 975 6,991 7,966 64 10/19/2017 Kansas City KS 719 5,143 23 719 5,166 5,885 39 10/19/2017 Louisville/Jefferson County (3) KY 2,174 3,667 28 2,174 3,695 5,869 370 5/1/2015 Baton Rouge LA 386 1,744 57 386 1,801 2,187 119 4/12/2016 Baton Rouge LA 1,098 5,208 505 1,098 5,713 6,811 398 4/12/2016 Baton Rouge LA 1,203 3,156 221 1,203 3,377 4,580 219 7/21/2016 Baton Rouge LA 755 2,702 260 755 2,962 3,717 188 7/21/2016 New Orleans-Metairie LA 1,287 6,235 112 1,287 6,347 7,634 394 4/12/2016 Shreveport-Bossier City LA 971 3,474 52 1,549 4,936 6,485 365 5/5/2015 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Shreveport-Bossier City LA 964 3,573 31 964 3,604 4,568 433 5/5/2015 Shreveport-Bossier City LA 772 2,906 24 772 2,930 3,702 349 5/5/2015 Shreveport-Bossier City LA 479 1,439 28 479 1,467 1,946 184 5/5/2015 Shreveport-Bossier City LA 475 854 42 475 896 1,371 135 5/5/2015 Shreveport-Bossier City LA 645 2,004 6 645 2,010 2,655 28 10/19/2017 Shreveport-Bossier City LA 654 3,589 27 654 3,616 4,270 28 10/19/2017 Shreveport-Bossier City LA 906 3,618 12 906 3,630 4,536 31 10/19/2017 Shreveport-Bossier City (4) LA — 5,113 13 — 5,126 5,126 33 10/19/2017 Worchester MA 414 4,122 7 414 4,129 4,543 83 6/30/2017 Nonmetropolitan Area MD 965 6,738 115 965 6,853 7,818 135 7/31/2017 Nonmetropolitan Area MD 550 2,409 76 550 2,485 3,035 37 9/6/2017 St. Louis MO 352 7,100 15 352 7,115 7,467 108 8/28/2017 St. Louis MO 163 1,025 13 163 1,038 1,201 16 8/28/2017 St. Louis MO 354 4,034 18 354 4,052 4,406 62 8/28/2017 Gulfport-Biloxi-Pascagoula MS 645 2,413 244 645 2,657 3,302 262 4/12/2016 Meridian (3) MS 224 1,052 141 224 1,193 1,417 264 5/1/2009 Meridian (3) MS 382 803 189 382 992 1,374 224 5/1/2009 Charlotte-Concord-Gastonia NC 1,871 4,174 66 1,871 4,240 6,111 422 5/1/2015 Charlotte-Concord-Gastonia (3) NC 1,108 3,935 42 1,108 3,977 5,085 407 5/4/2015 Charlotte-Concord-Gastonia (3) NC 2,301 4,458 155 2,301 4,613 6,914 505 5/4/2015 Charlotte-Concord-Gastonia (3) NC 1,862 3,297 83 1,862 3,380 5,242 366 9/2/2015 Durham-Chapel Hill NC 390 1,025 188 390 1,213 1,603 343 8/29/2007 Durham-Chapel Hill (3) NC 663 2,743 225 663 2,968 3,631 805 9/28/2007 Durham-Chapel Hill NC 1,024 1,383 386 1,024 1,769 2,793 466 9/28/2007 Durham-Chapel Hill NC 1,711 4,180 21 1,711 4,201 5,912 382 5/1/2015 Fayetteville NC 636 2,169 1,659 636 3,828 4,464 986 8/29/2007 Fayetteville (3) NC 151 5,392 254 151 5,646 5,797 1,454 9/28/2007 Fayetteville NC 1,319 3,444 20 1,319 3,464 4,783 539 10/10/2013 Fayetteville NC 772 3,406 24 772 3,430 4,202 439 10/10/2013 Fayetteville (3) NC 1,276 4,527 25 1,276 4,552 5,828 527 12/20/2013 Fayetteville (3) NC 1,195 2,072 — 1,195 2,072 3,267 174 10/1/2015 Fayetteville (3) NC 830 3,710 22 830 3,732 4,562 256 10/1/2015 Greensboro-High Point NC 873 769 199 873 968 1,841 286 8/29/2007 Jacksonville NC 1,265 2,123 74 1,265 2,197 3,462 324 5/1/2015 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Nonmetropolitan Area NC 530 2,394 5 530 2,399 2,929 280 12/11/2014 Nonmetropolitan Area NC 667 2,066 12 667 2,078 2,745 257 12/11/2014 Nonmetropolitan Area (3) NC 689 3,153 27 689 3,180 3,869 323 5/6/2015 Nonmetropolitan Area NC 2,093 2,045 5 2,093 2,050 4,143 46 8/4/2017 Raleigh-Cary NC 396 1,700 167 396 1,867 2,263 534 8/29/2007 Raleigh-Cary NC 393 1,190 134 393 1,324 1,717 374 8/29/2007 Raleigh-Cary NC 907 2,913 105 907 3,018 3,925 804 8/29/2007 Raleigh-Cary (3) NC 1,578 4,678 70 1,578 4,748 6,326 422 5/4/2015 Wilmington NC 1,283 1,747 94 1,283 1,841 3,124 499 8/29/2007 Wilmington (3) NC 860 828 71 860 899 1,759 245 9/28/2007 Wilmington NC 1,881 4,618 35 1,881 4,653 6,534 438 5/1/2015 Winston-Salem NC 362 529 74 362 603 965 169 8/29/2007 Concord NH 632 1,040 22 632 1,062 1,694 360 6/24/2013 Concord NH 197 901 19 197 920 1,117 281 6/24/2013 Dover-Durham NH 1,488 7,300 44 1,488 7,344 8,832 1,025 7/1/2014 Boston-Cambridge-Quincy NH 899 3,863 38 899 3,901 4,800 308 9/22/2015 Manchester-Nashua NH 1,786 6,100 19 1,786 6,119 7,905 411 2/22/2016 Manchester-Nashua NH 1,395 5,573 29 1,395 5,602 6,997 347 2/22/2016 Nonmetropolitan Area NH 2,053 5,425 19 2,053 5,444 7,497 112 6/15/2017 Greater New Hampshire NH 1,528 2,686 14 1,528 2,700 4,228 250 2/22/2016 Rockingham County-Strafford County NH 1,597 3,138 66 1,597 3,204 4,801 249 2/22/2016 Rockingham County-Strafford County NH 1,445 2,957 58 1,445 3,015 4,460 248 2/22/2016 Albuquerque NM 1,089 2,845 157 1,089 3,002 4,091 233 8/31/2016 Albuquerque NM 854 3,436 81 854 3,517 4,371 181 9/19/2016 Las Vegas-Henderson-Paradise NV 1,757 4,223 54 1,757 4,277 6,034 243 9/20/2016 Las Vegas-Henderson-Paradise NV 1,121 1,510 51 1,121 1,561 2,682 113 9/20/2016 Las Vegas-Henderson-Paradise NV 2,160 4,544 187 2,160 4,731 6,891 179 11/17/2016 Las Vegas-Paradise NV 1,169 3,616 83 1,169 3,699 4,868 1,009 12/23/2013 Las Vegas-Paradise NV 389 2,850 66 389 2,916 3,305 474 4/1/2014 Las Vegas-Paradise NV 794 1,406 86 794 1,492 2,286 309 7/1/2014 Las Vegas-Paradise NV 2,362 8,445 60 2,362 8,505 10,867 97 8/15/2017 Las Vegas-Paradise NV 2,157 2,753 13 2,157 2,766 4,923 46 8/15/2017 Las Vegas-Paradise NV 1,296 8,039 82 1,296 8,121 9,417 85 8/15/2017 Las Vegas-Paradise NV 828 2,030 120 828 2,150 2,978 33 8/29/2017 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Las Vegas-Paradise NV 3,864 2,870 125 3,864 2,995 6,859 65 8/29/2017 Canton-Massillon OH 83 2,911 19 83 2,930 3,013 132 11/10/2016 Canton-Massillon OH 292 2,107 32 292 2,139 2,431 199 11/10/2016 Cleveland-Elyria OH 169 2,702 24 169 2,726 2,895 116 11/10/2016 Cleveland-Elyria OH 193 3,323 22 193 3,345 3,538 128 11/10/2016 Cleveland-Elyria OH 490 1,050 23 490 1,073 1,563 73 11/10/2016 Cleveland-Elyria OH 845 4,916 29 845 4,945 5,790 223 11/10/2016 Cleveland-Elyria OH 842 2,044 23 842 2,067 2,909 148 11/10/2016 Oklahoma City OK 388 3,142 133 388 3,275 3,663 920 5/29/2007 Oklahoma City OK 213 1,383 76 213 1,459 1,672 406 5/29/2007 Oklahoma City OK 561 2,355 434 561 2,789 3,350 850 5/29/2007 Oklahoma City OK 349 2,368 443 349 2,811 3,160 836 5/29/2007 Oklahoma City OK 466 2,544 106 466 2,650 3,116 730 5/29/2007 Oklahoma City OK 144 1,576 148 144 1,724 1,868 515 5/29/2007 Oklahoma City OK 168 1,696 245 168 1,941 2,109 565 5/29/2007 Oklahoma City OK 220 1,606 116 220 1,722 1,942 475 5/30/2007 Oklahoma City OK 376 1,460 36 376 1,496 1,872 405 5/30/2007 Oklahoma City OK 337 2,788 89 337 2,877 3,214 784 5/30/2007 Oklahoma City OK 814 3,161 1,169 814 4,330 5,144 843 5/30/2007 Oklahoma City OK 590 1,502 1,751 590 3,253 3,843 801 8/29/2007 Oklahoma City OK 205 1,772 451 205 2,223 2,428 642 5/1/2009 Oklahoma City OK 701 4,926 — 701 4,926 5,627 210 9/1/2016 Oklahoma City OK 1,082 4,218 10 1,082 4,228 5,310 292 1/1/2016 Oklahoma City OK 736 2,925 3 736 2,928 3,664 247 1/1/2016 Oklahoma City OK 1,135 3,759 4 1,135 3,763 4,898 275 1/1/2016 Tulsa OK 548 1,892 73 548 1,965 2,513 529 8/29/2007 Tulsa OK 764 1,386 372 764 1,758 2,522 494 8/29/2007 Tulsa OK 1,305 2,533 112 1,305 2,645 3,950 720 8/29/2007 Tulsa OK 940 2,196 223 940 2,419 3,359 665 8/29/2007 Tulsa OK 59 466 300 59 766 825 205 8/29/2007 Tulsa OK 426 1,424 222 426 1,646 2,072 530 8/29/2007 Tulsa OK 250 667 148 250 815 1,065 246 8/29/2007 Tulsa (3) OK 944 2,085 55 944 2,140 3,084 540 2/14/2008 Tulsa (3) OK 892 2,421 29 892 2,450 3,342 615 2/14/2008 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Tulsa OK 492 1,343 65 492 1,408 1,900 356 4/1/2008 Tulsa OK 505 1,346 724 505 2,070 2,575 669 4/1/2008 Tulsa OK 466 1,270 102 466 1,372 1,838 356 4/1/2008 Tulsa (3) OK 1,103 4,431 44 1,103 4,475 5,578 1,316 6/10/2013 Bend OR 295 1,369 7 295 1,376 1,671 382 4/1/2013 Bend OR 1,692 2,410 29 1,692 2,439 4,131 722 4/1/2013 Bend (3) OR 571 1,917 3 571 1,920 2,491 353 6/10/2013 Bend (3) OR 397 1,180 99 397 1,279 1,676 369 6/10/2013 Bend OR 690 1,983 77 690 2,060 2,750 363 5/1/2014 Bend OR 722 2,151 4 722 2,155 2,877 346 5/1/2014 Bend OR 800 2,836 6 800 2,842 3,642 458 5/1/2014 Bend-Redmond OR 2,688 10,731 — 2,688 10,731 13,419 684 4/15/2016 Corvallis OR 382 1,465 — 382 1,465 1,847 310 12/30/2013 Eugene-Springfield OR 710 1,539 62 710 1,601 2,311 406 4/1/2013 Eugene-Springfield OR 842 1,674 32 842 1,706 2,548 456 4/1/2013 Eugene-Springfield (3) OR 414 1,990 — 414 1,990 2,404 313 6/10/2013 Eugene-Springfield (3) OR 1,149 2,061 37 1,149 2,098 3,247 404 6/10/2013 Eugene-Springfield OR 728 3,230 105 728 3,335 4,063 458 12/30/2013 Eugene-Springfield OR 1,601 2,686 87 1,601 2,773 4,374 649 4/1/2014 Hood River OR 997 1,874 — 997 1,874 2,871 242 12/1/2014 Portland-Vancouver-Hillsboro OR 851 2,063 4 851 2,067 2,918 352 4/1/2013 Portland-Vancouver-Hillsboro OR 1,704 2,313 99 1,704 2,412 4,116 568 4/1/2013 Portland-Vancouver-Hillsboro OR 1,254 2,787 12 1,254 2,799 4,053 492 4/1/2013 Portland-Vancouver-Hillsboro OR 2,808 4,437 19 2,808 4,456 7,264 1,022 4/1/2013 Portland-Vancouver-Hillsboro OR 1,015 2,184 3 1,015 2,187 3,202 408 4/1/2013 Portland-Vancouver-Hillsboro (3) OR 1,077 3,008 139 1,077 3,147 4,224 468 6/10/2013 Portland-Vancouver-Hillsboro (3) OR 1,072 2,629 18 1,072 2,647 3,719 557 6/10/2013 Portland-Vancouver-Hillsboro (3) OR 2,217 3,766 15 2,217 3,781 5,998 626 6/10/2013 Portland-Vancouver-Hillsboro (3) OR 1,334 2,324 126 1,334 2,450 3,784 486 6/10/2013 Portland-Vancouver-Hillsboro (3) OR 996 2,525 89 996 2,614 3,610 500 6/10/2013 Portland-Vancouver-Hillsboro OR 1,496 3,372 79 1,496 3,451 4,947 535 6/24/2013 Portland-Vancouver-Hillsboro OR 954 3,026 41 954 3,067 4,021 436 6/24/2013 Portland-Vancouver-Hillsboro OR 1,627 2,388 70 1,627 2,458 4,085 429 6/24/2013 Portland-Vancouver-Hillsboro OR 2,509 4,200 66 2,509 4,266 6,775 704 12/30/2013 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Portland-Vancouver-Hillsboro OR 787 1,915 62 787 1,977 2,764 297 12/30/2013 Portland-Vancouver-Hillsboro OR 1,703 4,729 9 1,703 4,738 6,441 635 4/1/2014 Portland-Vancouver-Hillsboro OR 738 2,483 — 738 2,483 3,221 334 4/1/2014 Portland-Vancouver-Hillsboro OR 1,690 2,995 39 1,690 3,034 4,724 324 4/1/2014 Portland-Vancouver-Hillsboro OR 1,200 9,531 204 1,200 9,735 10,935 1,771 5/30/2014 Portland-Vancouver-Hillsboro OR 401 3,718 80 401 3,798 4,199 556 5/30/2014 Portland-Vancouver-Hillsboro OR 1,160 3,291 21 1,160 3,312 4,472 470 6/30/2014 Portland-Vancouver-Hillsboro OR 1,435 4,342 — 1,435 4,342 5,777 622 6/30/2014 Portland-Vancouver-Hillsboro OR 1,478 4,127 6 1,478 4,133 5,611 585 6/30/2014 Portland-Vancouver-Hillsboro OR 1,402 3,196 — 1,402 3,196 4,598 434 6/30/2014 Portland-Vancouver-Hillsboro OR 3,538 4,938 6 3,398 3,984 7,382 569 6/30/2014 Portland-Vancouver-Hillsboro OR 1,501 3,136 6 1,501 3,142 4,643 445 6/30/2014 Portland-Vancouver-Hillsboro OR 1,746 3,393 11 1,746 3,404 5,150 482 8/27/2014 Portland-Vancouver-Hillsboro OR 1,014 3,017 11 1,014 3,028 4,042 445 8/27/2014 Portland-Vancouver-Hillsboro OR 2,202 3,477 113 2,202 3,590 5,792 521 10/20/2014 Portland-Vancouver-Hillsboro OR 1,764 7,360 — 1,764 7,360 9,124 829 12/16/2014 Portland-Vancouver-Hillsboro OR 2,670 8,709 53 2,670 8,762 11,432 561 8/10/2015 Portland-Vancouver-Hillsboro OR 410 622 179 410 801 1,211 48 7/14/2016 Portland-Vancouver-Hillsboro OR 1,258 6,298 3 1,258 6,301 7,559 208 11/21/2016 Portland-Vancouver-Hillsboro OR 2,334 7,726 33 2,334 7,759 10,093 298 12/6/2016 Portland-Vancouver-Hillsboro OR 771 4,121 — 771 4,121 4,892 17 11/15/2017 Portland-Vancouver-Hillsboro OR 2,002 14,445 — 2,002 14,445 16,447 24 12/14/2017 Portland-Vancouver-Hillsboro OR 860 3,740 — 860 3,740 4,600 118 1/11/2017 Prineville OR 427 1,648 — 427 1,648 2,075 227 8/27/2014 Roseburg (3) OR 474 1,789 79 474 1,868 2,342 371 6/10/2013 Salem OR 1,405 2,650 413 1,405 3,063 4,468 607 4/1/2014 Salem OR 492 1,248 18 492 1,266 1,758 112 4/20/2016 The Dalles OR 1,108 2,100 — 1,108 2,100 3,208 293 12/5/2014 Anderson SC 92 976 119 92 1,095 1,187 312 8/29/2007 Charlotte-Gastonia-Rock Hill (3) SC 924 3,086 32 924 3,118 4,042 303 5/4/2015 Greenville-Mauldin-Easley SC 82 838 74 82 912 994 249 8/29/2007 Spartanburg SC 535 1,934 23 535 1,957 2,492 185 11/12/2015 Amarillo (3) TX 80 877 106 80 983 1,063 227 5/1/2009 Amarillo (3) TX 78 697 136 78 833 911 196 5/1/2009 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Amarillo (3) TX 147 810 145 147 955 1,102 219 5/1/2009 Austin-Round Rock-San Marcos TX 937 5,319 80 937 5,399 6,336 766 6/24/2013 Austin-Round Rock-San Marcos TX 1,395 2,790 20 1,395 2,810 4,205 616 6/24/2013 Austin-Round Rock-San Marcos TX 768 1,923 111 768 2,034 2,802 297 10/29/2014 Austin-Round Rock-San Marcos TX 936 6,446 15 936 6,461 7,397 40 10/19/2017 Brownsville-Harlingen TX 845 2,364 63 845 2,427 3,272 285 9/4/2014 Brownsville-Harlingen TX 639 1,674 85 639 1,759 2,398 250 9/4/2014 Brownsville-Harlingen TX 386 2,798 178 386 2,976 3,362 201 5/2/2016 College Station-Bryan TX 618 2,512 57 618 2,569 3,187 677 8/29/2007 College Station-Bryan TX 551 349 215 551 564 1,115 139 8/29/2007 College Station-Bryan TX 295 988 150 295 1,138 1,433 269 4/1/2008 College Station-Bryan TX 51 123 63 51 186 237 57 4/1/2008 College Station-Bryan TX 110 372 133 110 505 615 116 4/1/2008 College Station-Bryan TX 62 208 13 62 221 283 56 4/1/2008 Dallas-Fort Worth-Arlington TX 164 865 49 164 914 1,078 247 8/29/2007 Dallas-Fort Worth-Arlington TX 155 105 53 155 158 313 52 9/28/2007 Dallas-Fort Worth-Arlington TX 98 282 96 98 378 476 120 9/28/2007 Dallas-Fort Worth-Arlington TX 264 106 165 264 271 535 94 9/28/2007 Dallas-Fort Worth-Arlington (3) TX 376 803 120 376 923 1,299 263 9/28/2007 Dallas-Fort Worth-Arlington (3) TX 338 681 101 338 782 1,120 214 9/28/2007 Dallas-Fort Worth-Arlington TX 1,388 4,195 37 1,388 4,232 5,620 700 6/24/2013 Dallas-Fort Worth-Arlington TX 1,859 5,293 122 1,859 5,415 7,274 847 7/25/2013 Dallas-Fort Worth-Arlington TX 379 2,212 102 379 2,314 2,693 510 7/25/2013 Dallas-Fort Worth-Arlington TX 1,397 5,250 82 1,397 5,332 6,729 782 7/25/2013 Dallas-Fort Worth-Arlington TX 2,102 5,755 89 2,102 5,844 7,946 998 7/25/2013 Dallas-Fort Worth-Arlington TX 649 1,637 35 649 1,672 2,321 532 7/25/2013 Dallas-Fort Worth-Arlington TX 396 1,411 438 396 1,849 2,245 289 4/29/2015 Dallas-Fort Worth-Arlington TX 1,263 3,346 50 1,263 3,396 4,659 396 10/19/2015 Dallas-Plano-Irving TX 1,421 2,349 450 1,421 2,799 4,220 205 6/1/2016 Dallas-Plano-Irving TX 710 3,578 38 710 3,616 4,326 35 10/19/2017 Dallas-Plano-Irving TX 421 2,668 10 421 2,678 3,099 24 10/19/2017 El Paso TX 338 1,275 42 338 1,317 1,655 353 8/29/2007 El Paso TX 94 400 168 94 568 662 155 8/29/2007 Houston-Sugar Land-Baytown TX 698 2,648 233 698 2,881 3,579 284 7/20/2015 Initial Cost to Company Gross Carrying Amount at Year-End Location Buildings and Subsequent Buildings and Accumulated Date MSA (1) State Land Improvements Additions Land Improvements Total (2) Depreciation Acquired Houston-The Woodlands-Sugar Land TX 1,042 3,061 382 1,042 3,443 4,485 281 1/22/2016 Houston-The Woodlands-Sugar Land TX 1,426 2,910 100 1,426 3,010 4,436 78 6/13/2017 Killeen-Temple TX 203 4,065 190 203 4,255 4,458 125 2/2/2017 Killeen-Temple TX 1,128 6,149 186 1,128 6,335 7,463 90 8/8/2017 Longview (3) TX 651 671 100 651 771 1,422 178 5/1/2009 Longview (3) TX 104 489 164 104 653 757 142 5/1/2009 Longview (3) TX 310 966 199 310 1,165 1,475 261 5/1/2009 Longview TX 2,466 3,559 39 2,466 3,598 6,064 480 6/19/2014 Longview TX 959 1,640 18 959 1,658 2,617 238 6/25/2014 McAllen–Edinburg–Mission TX 1,217 2,738 262 1,243 3,000 4,243 544 7/31/2014 McAllen–Edinburg–Mission TX 1,973 4,517 57 1,973 4,574 6,547 661 9/4/2014 McAllen–Edinburg–Mission TX 1,295 3,929 61 1,295 3,990 5,285 565 9/4/2014 McAllen–Edinburg–Mission TX 3,079 7,574 82 3,079 7,656 10,735 1,164 9/4/2014 McAllen–Edinburg–Mission TX 1,017 3,261 65 1,017 3,326 4,343 462 9/4/2014 McAllen–Edinburg–Mission TX 803 2,914 74 803 2,988 3,791 335 9/4/2014 McAllen–Edinburg–Mission TX 2,249 4,966 51 2,249 5,017 7,266 742 9/4/2014 McAllen–Edinburg–Mission TX 1,118 3,568 62 1,118 3,630 4,748 432 9/4/2014 Midland (3) TX 691 1,588 163 691 1,751 2,442 386 5/1/2009 Odessa (3) TX 168 561 103 168 664 832 156 5/1/2009 |
SUMMARY OF SIGNIFICANT ACCOUN25
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements are presented on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles ("GAAP"). |
Principles of Consolidation and Noncontrolling Interest | Principles of Consolidation The Company's consolidated financial statements include the accounts of its operating partnership and its controlled subsidiaries. All significant intercompany balances and transactions have been eliminated in the consolidation of entities. When the Company obtains an economic interest in an entity, the Company evaluates the entity to determine if the entity is deemed a variable interest entity ("VIE"), and if the Company is deemed to be the primary beneficiary, in accordance with authoritative guidance issued on the consolidation of VIEs. When an entity is not deemed to be a VIE, the Company considers the provisions of additional guidance to determine whether the general partner controls a limited partnership or similar entity when the limited partners have certain rights. The Company consolidates all entities that are VIEs and of which the Company is deemed to be the primary beneficiary. The Company has determined that its operating partnership is a VIE. The sole significant asset of National Storage Affiliates Trust is its investment in its operating partnership, and consequently, substantially all of the Company's assets and liabilities represent those assets and liabilities of its operating partnership. As of December 31, 2017 , the Company's operating partnership was the primary beneficiary of, and therefore consolidated, 21 DownREIT partnerships that are considered VIEs, which owned 34 self storage properties. The net book value of the real estate owned by these VIEs was $248.0 million and $256.8 million as of December 31, 2017 and December 31, 2016 , respectively. For certain DownREIT partnerships which are subject to fixed rate mortgages payable, the carrying value of such fixed rate mortgages payable held by these VIEs was $140.3 million and $41.4 million as of December 31, 2017 and December 31, 2016 , respectively. The creditors of the consolidated VIEs do not have recourse to the Company's general credit. Noncontrolling Interests All of the limited partner equity interests in its operating partnership not held by the Company are reflected as noncontrolling interests. Noncontrolling interests also include ownership interests in DownREIT partnerships held by entities other than the Company's operating partnership. In the consolidated statements of operations, the Company allocates net income (loss) attributable to noncontrolling interests to arrive at net income (loss) attributable to National Storage Affiliates Trust. For transactions that result in changes to the Company's ownership interest in its operating partnership, the carrying amount of noncontrolling interests is adjusted to reflect such changes. The difference between the fair value of the consideration received or paid and the amount by which the noncontrolling interests is adjusted is reflected as an adjustment to additional paid-in capital on the consolidated balance sheets. |
Self Storage Properties | Self Storage Properties Self storage properties are carried at historical cost less accumulated depreciation and any impairment losses. Major replacements and betterments, which improve or extend the life of an asset, are capitalized. Expenditures for ordinary repairs and maintenance are expensed as incurred and are included in property operating expenses. Estimated depreciable lives of self storage properties are determined by considering the age and other indicators about the condition of the assets at the respective dates of acquisition, resulting in a range of estimated useful lives for assets within each category. All self storage property assets are depreciated using the straight-line method. Buildings and improvements are depreciated over estimated useful lives primarily between seven and 40 years ; furniture and equipment are depreciated over estimated useful lives primarily between three and 10 years . When a self storage property is acquired, the purchase price of the acquired self storage property is allocated to land, buildings and improvements, furniture and equipment, customer in-place leases, assumed real estate leasehold interests, other assets acquired and liabilities assumed, based on the estimated fair value of each component. When a portfolio of self storage properties is acquired, the purchase price is allocated to the individual self storage properties based on the fair value determined using an income approach with appropriate risk-adjusted capitalization rates, which take into account the relative size, age and location of the individual self storage properties. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly-liquid investments purchased with original maturities of three months or less to be cash equivalents. From time to time, the Company maintains cash balances in financial institutions in excess of federally insured limits. The Company has never experienced a loss that resulted from exceeding federally insured limits. |
Restricted Cash | Restricted Cash The Company's restricted cash consists of escrowed funds deposited with financial institutions for real estate taxes, insurance and other reserves for capital improvements in accordance with the Company's loan agreements. |
Customer In-place Leases | Customer In-place Leases In allocating the purchase price for a self storage property acquisition, the Company determines whether the acquisition includes intangible assets. The Company allocates a portion of the purchase price to an intangible asset attributed to the value of customer in-place leases. This intangible asset is amortized to expense using the straight-line method over 12 months , the estimated average rental period for the Company's customers. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets The Company evaluates long-lived assets for impairment when events and circumstances indicate that there may be impairment. When events or changes in circumstances indicate that the Company's long-lived assets may not be recoverable, the carrying value of these long-lived assets is compared to the undiscounted future net operating cash flows, plus a terminal value attributable to the assets. If an asset's carrying value is not considered recoverable, an impairment loss is recorded to the extent the net carrying value of the asset exceeds the fair value. |
Cost of Raising Capital | Costs of Raising Capital Commissions, legal fees and other costs that are directly associated with equity offerings are capitalized as deferred offering costs, pending a determination of the success of the offering. Deferred offering costs related to successful offerings are charged to additional paid-in capital within equity in the period it is determined that the offering was successful. |
Debt Issuance Costs | Debt issuance costs are amortized over the estimated life of the related debt using the straight-line method, which approximates the effective interest rate method. Amortization of debt issuance costs is included in interest expense in the accompanying statements of operations. |
Revenue Recognition | Revenue Recognition Management has determined that all of the Company's leases are operating leases. Substantially all leases may be terminated on a month-to-month basis and rental income is recognized ratably over the lease term using the straight-line method. Rents received in advance are deferred and recognized on a straight-line basis over the related lease term associated with the prepayment. Promotional discounts and other incentives are recognized as a reduction to rental income over the applicable lease term. Other property-related revenue consists of ancillary revenues such as tenant insurance-related access fees and commissions and sales of storage supplies which are recognized in the period earned. The Company recognizes gains from disposition of facilities only upon closing in accordance with the guidance on sales of real estate. Payments received from purchasers prior to closing are recorded as deposits. Profit on real estate sold is recognized using the full accrual method upon closing when the collectability of the sales price is reasonably assured and the Company is not obligated to perform significant activities after the sale. Profit may be deferred in whole or part until the sale meets the requirements of profit recognition on sales under this guidance. The Company earns management and other fees for managing and operating its unconsolidated real estate venture. These fees include property management fees, call center fees, platform fees, acquisition fees, development fees and a portion of tenant warranty protection proceeds. The Company recognizes these fees when they are earned, fixed and determinable. The fees are reported in management fees and other revenue in the Company's consolidated statements of operations. |
Advertising Costs | Advertising Costs The Company incurs advertising costs primarily attributable to internet, directory and other advertising. Advertising costs are included in property operating expenses in the accompanying statements of operations. These costs are expensed in the period in which the cost is incurred. |
Acquisition Costs | Acquisition Costs The Company incurs title, legal and consulting fees, and other costs associated with the completion of acquisitions. During the year ended December 31, 2017, the Company adopted Accounting Standards Update ("ASU") 2017-01 and as a result, the Company's self storage property acquisitions during the year ended December 31, 2017 were accounted for as asset acquisitions, and accordingly, acquisition costs directly related to the self storage property acquisitions were capitalized as part of the basis of the acquired properties. Indirect acquisition costs remain included in acquisition costs in the accompanying statements of operations in the period in which they were incurred. Prior to the Company's adoption of ASU 2017-01, direct and indirect costs were included in acquisition costs in the accompanying statements of operations in the period in which they were incurred. |
Income Taxes | Income Taxes Through December 31, 2014, the Company did not have a profit and loss sharing interest in its operating partnership and did not have any other operations that were subject to taxation. Accordingly, the Company did not generate a federal income tax benefit or expense for the period from its inception through December 31, 2014. The Company has elected and believes it has qualified to be taxed as a REIT under sections 856 through 860 of the U.S. Internal Revenue Code (the "Code") commencing with the taxable year ended December 31, 2015. To qualify as a REIT, among other things, the Company is required to distribute at least 90% of its REIT taxable income to its shareholders and meet certain tests regarding the nature of its income and assets. As a REIT, the Company is not subject to federal income tax on the earnings distributed currently to its shareholders that it derives from its REIT qualifying activities. If the Company fails to qualify as a REIT in any taxable year, and is unable to avail itself of certain provisions set forth in the Code, all of the Company's taxable income would be subject to federal and state income taxes at regular corporate rates. The Company will not be required to make distributions with respect to income derived from the activities conducted through subsidiaries that the Company elects to treat as taxable REIT subsidiaries ("TRS") for federal income tax purposes. Certain activities that the Company undertakes must be conducted by a TRS, such as performing non-customary services for its customers, facilitating sales by PROs of tenant insurance and holding assets that the Company is not permitted to hold directly. A TRS is subject to federal and state income taxes. On June 25, 2014, the Company formed NSA TRS, LLC ("NSA TRS"), a Delaware limited liability company. The Company has elected to treat NSA TRS as a TRS, and consequently, NSA TRS is subject to U.S. federal and state corporate income taxes. Deferred tax assets and liabilities are recognized to the extent of any differences between the financial reporting and tax bases of assets and liabilities. No material deferred tax assets and liabilities were recorded as of December 31, 2017 and 2016 . The Company did not have any unrecognized tax benefits related to uncertain tax positions as of December 31, 2017 and 2016 . Future amounts of accrued interest and penalties, if any, related to uncertain tax positions will be recorded as a component of income tax expense. The Company does not expect that the amount of unrecognized tax benefits will change significantly in the next 12 months. The Company's material taxing jurisdiction is the U.S. federal jurisdiction; the 2014 tax year is the earliest period that remains open to examination by these taxing jurisdictions. |
Earnings per Share | Earnings per Share Basic earnings per share is calculated based on the weighted average number of the Company's common shares of beneficial interest, $0.01 par value per share ("common shares"), outstanding during the period. Diluted earnings per share is calculated by further adjusting for the dilutive impact using the treasury stock method for any share options and unvested share equivalents outstanding during the period and the if-converted method for any convertible securities outstanding during the period. As more fully described below under " –Allocation of Net Income (Loss)" , the Company allocates GAAP income (loss) utilizing the hypothetical liquidation at book value ("HLBV") method, which could result in net income (or net loss) attributable to National Storage Affiliates Trust during a period when the Company reports consolidated net loss (or net income), or net income (or net loss) attributable to National Storage Affiliates Trust in excess of the Company's consolidated net income (or net loss). The computations of basic and diluted earnings (loss) per share may be materially affected by these disproportionate income (loss) allocations, resulting in volatile fluctuations of basic and diluted earnings (loss) per share. |
Equity-Based Awards | Equity-Based Awards The measurement and recognition of compensation cost for all equity-based awards granted to officers, employees and consultants is based on estimated fair values. Compensation cost is recognized on a straight-line basis over the requisite service periods of each award with non-graded vesting. For awards granted which contain a graded vesting schedule and the only condition for vesting is a service condition, compensation cost is recognized as an expense on a straight-line basis over the requisite service period as if the award was, in substance, a single award. For awards granted for which vesting is subject to a performance condition, including awards that vested upon completion of the Company's initial public offering, compensation cost is recognized over the requisite service period if and when the Company concludes it is probable that the performance condition will be achieved. The estimated fair value of all equity-based awards issued to PROs and their affiliates in connection with self storage property acquisitions is included in the cost of the respective acquisitions. The estimated fair value of such awards is measured at the date the self storage properties are acquired, as this date represents satisfaction of the performance condition and coincides with the award vesting. |
Derivative Financial Instruments | Derivative Financial Instruments The Company carries all derivative financial instruments on the balance sheet at fair value. Fair value of derivatives is determined by reference to observable prices that are based on inputs not quoted on active markets, but corroborated by market data. The accounting for changes in the fair value of a derivative instrument depends on whether the derivative has been designated and qualifies as part of a hedging relationship. The Company's use of derivative instruments has been limited to interest rate swap and cap agreements. The fair values of derivative instruments are included in other assets and accounts payable and accrued liabilities in the accompanying balance sheets. For derivative instruments not designated as cash flow hedges, the unrealized gains and losses are included in interest expense in the accompanying statements of operations. For derivatives designated as cash flow hedges, the effective portion of the changes in the fair value of the derivatives is initially reported in accumulated other comprehensive income (loss) in the Company's balance sheets and subsequently reclassified into earnings when the hedged transaction affects earnings. The valuation of interest rate swap and cap agreements is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of future interest rates (forward curves) derived from observable market interest rate forward curves. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. |
Fair Value Measurements | Fair Value Measurements When measuring fair value of financial instruments that are required to be recorded or disclosed at fair value, the Company uses a three-tier measurement hierarchy which prioritizes the inputs used to calculate fair value. These tiers include Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. |
Investments in Unconsolidated Real Estate Venture | Investments in Unconsolidated Real Estate Venture The Company’s investment in its unconsolidated real estate venture is recorded under the equity method of accounting in the accompanying consolidated financial statements. Under the equity method, the Company’s investment in real estate venture is stated at cost and adjusted for the Company’s share of net earnings or losses and reduced by distributions. Equity in earnings (losses) is recognized based on the Company’s ownership interest in the earnings (losses) of the unconsolidated real estate venture. The Company follows the "look through" approach for classification of distributions from joint ventures in its consolidated statements of cash flows. Under this approach, distributions are reported under operating cash flow unless the facts and circumstances of a specific distribution clearly indicate that it is a return of capital (e.g., proceeds from the unconsolidated real estate venture’s sale of assets), in which case it is reported as an investing activity. |
Segment Reporting | Segment Reporting The Company manages its business as one reportable segment consisting of investments in self storage properties located in the United States. Although the Company operates in several markets, these operations have been aggregated into one reportable segment based on the similar economic characteristics amongst all markets. |
Reclassifications | Reclassifications Certain amounts in the consolidated financial statements and related notes have been reclassified to conform to the current year presentation. Such reclassifications do not impact the Company's previously reported financial position or net income (loss). |
Allocation of Net Income (Loss) | Allocation of Net Income (Loss) The distribution rights and priorities set forth in the operating partnership's LP Agreement differ from what is reflected by the underlying percentage ownership interests of the unitholders. Accordingly, the Company allocates GAAP income (loss) utilizing the HLBV method, in which the Company allocates income or loss based on the change in each unitholders’ claim on the net assets of its operating partnership at period end after adjusting for any distributions or contributions made during such period. The HLBV method is commonly applied to equity investments where cash distribution percentages vary at different points in time and are not directly linked to an equity holder’s ownership percentage. The HLBV method is a balance sheet-focused approach to income (loss) allocation. A calculation is prepared at each balance sheet date to determine the amount that unitholders would receive if the operating partnership were to liquidate all of its assets (at GAAP net book value) and distribute the resulting proceeds to its creditors and unitholders based on the contractually defined liquidation priorities. The difference between the calculated liquidation distribution amounts at the beginning and the end of the reporting period, after adjusting for capital contributions and distributions, is used to derive each unitholder's share of the income (loss) for the period. Due to the stated liquidation priorities and because the HLBV method incorporates non-cash items such as depreciation expense, in any given period, income or loss may be allocated disproportionately to unitholders as compared to their respective ownership percentage in the operating partnership, and net income (loss) attributable to National Storage Affiliates Trust could be more or less net income than actual cash distributions received and more or less income or loss than what may be received in the event of an actual liquidation. Additionally, the HLBV method could result in net income (or net loss) attributable to National Storage Affiliates Trust during a period when the Company reports consolidated net loss (or net income), or net income (or net loss) attributable to National Storage Affiliates Trust in excess of the Company's consolidated net income (or net loss). The computations of basic and diluted earnings (loss) per share may be materially affected by these disproportionate income (loss) allocations, resulting in volatile fluctuations of basic and diluted earnings (loss) per share. |
Other Comprehensive Income (Loss) | Other Comprehensive Income (Loss) The Company has cash flow hedge derivative instruments that are measured at fair value with unrealized gains or losses recognized in other comprehensive income (loss) with a corresponding adjustment to accumulated other comprehensive income (loss) within equity, as discussed further in Note 13. Under the HLBV method of allocating income (loss) discussed above, a calculation is prepared at each balance sheet date by applying the HLBV method including, and excluding, the assets and liabilities resulting from the Company's cash flow hedge derivative instruments to determine comprehensive income (loss) attributable to National Storage Affiliates Trust. As a result of the distribution rights and priorities set forth in the operating partnership's LP Agreement, in any given period, other comprehensive income (loss) may be allocated disproportionately to unitholders as compared to their respective ownership percentage in the operating partnership and as compared to their respective allocation of net income (loss). |
Assets Held For Sale | Assets Held For Sale The Company classifies properties as held for sale when certain criteria are met. At such time, the properties, including significant assets and liabilities that are expected to be transferred as part of a sale transaction, are presented separately on the consolidated balance sheet at the lower of carrying value or estimated fair value less costs to sell and depreciation is no longer recognized. As of December 31, 2017 and 2016, the Company had one and two self storage properties classified as held for sale, respectively. The results of operations for the self storage properties classified as held for sale are reflected within income from operations in the Company's consolidated statements of operations. |
Goodwill | Goodwill Goodwill represents the costs of business acquisitions in excess of the fair value of identifiable net assets acquired. The Company evaluates goodwill for potential impairment annually, or whenever impairment indicators are present. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The Company has completed its analysis of ASU 2014-09 and concluded that its adoption of ASU 2014-09 will not have a material effect on its consolidated financial statements and related disclosures. The Company adopted ASU 2014-09 effective January 1, 2018. In February 2016, the FASB issued ASU 2016-02, Leases, which amends the existing guidance for accounting for leases, including requiring lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases and lessees to recognize most leases on-balance sheet as lease liabilities with corresponding right-of-use assets. The Company will adopt ASU 2016-02 effective January 1, 2019. ASU 2016-02 requires a modified retrospective approach, with entities applying the new guidance at the beginning of the earliest period presented in the financial statements in which they first apply the new standard, with certain elective transition relief. The Company is evaluating the effect that ASU 2016-02 will have on its operating leases, consolidated financial statements and related disclosures. The Company expects ASU 2016-02 to primarily impact its accounting for its non-cancelable leasehold interest agreements in which it serves as the lessee. See Note 12 for additional information about the Company's non-cancelable leasehold interest agreements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows, which clarifies the classification of certain cash receipts and cash payments in the statement of cash flows, including debt prepayment or extinguishment costs, settlement of contingent consideration arising from a business combination, insurance settlement proceeds, and distributions from certain equity method investees. The Company adopted ASU 2016-15 effective January 1, 2017, which did not result in any changes to the presentation of amounts shown on the Company's consolidated statements of cash flows to all periods presented. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows - Restricted Cash, that requires the inclusion of 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. The Company adopted ASU 2016-18 effective January 1, 2017, which resulted in the inclusion of the Company's restricted cash balances along with cash and cash equivalents in the Company's consolidated statement of cash flows and separate line items showing changes in restricted cash balances were eliminated from the Company's consolidated statements of cash flows. ASU 2016-18 was applied retrospectively to all periods presented. In August 2017, the FASB issued ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities, which amends the existing GAAP hedge accounting recognition and presentation requirements. ASU 2017-12 is effective for the Company on January 1, 2019, with early adoption permitted. The Company has completed its analysis of ASU 2017-12 and concluded that its adoption of ASU 2017-12 will not have a material effect on its consolidated financial statements and related disclosures. The Company early adopted ASU 2017-12 effective January 1, 2018. |
SHAREHOLDERS' EQUITY AND NONC26
SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Equity [Abstract] | |
Schedule of outstanding equity interests | As of December 31, 2017 and 2016 , units reflecting noncontrolling interests consisted of the following: December 31, 2017 2016 OP units 26,719,607 26,125,444 Subordinated performance units 11,604,738 11,022,378 LTIP units 771,396 1,543,905 DownREIT units DownREIT OP units 1,834,786 1,834,786 DownREIT subordinated performance units 4,386,999 4,386,999 Total 45,317,526 44,913,512 |
SELF STORAGE PROPERTIES (Tables
SELF STORAGE PROPERTIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Real Estate [Abstract] | |
Schedule of self storage properties | Self storage properties are summarized as follows (dollars in thousands): December 31, 2017 2016 Land $ 528,304 $ 456,135 Buildings and improvements 1,741,459 1,383,603 Furniture and equipment 5,470 4,598 Total self storage properties 2,275,233 1,844,336 Less accumulated depreciation (170,358 ) (110,803 ) Self storage properties, net $ 2,104,875 $ 1,733,533 |
INVESTMENT IN UNCONSOLIDATED 28
INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURE (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Schedule of Condensed Financial Information of Joint Ventures | The following tables present condensed financial information of the Joint Venture as of and for the year ended December 31, 2017 and as of and for the period ended December 31, 2016 (in thousands): December 31, 2017 December 31, 2016 ASSETS Self storage properties, net $ 655,973 $ 614,754 Other assets 8,397 19,936 Total assets $ 664,370 $ 634,690 LIABILITIES AND EQUITY Debt financing $ 317,359 $ 317,047 Other liabilities 4,855 4,498 Equity 342,156 313,145 Total liabilities and equity $ 664,370 $ 634,690 Year Ended Period Ended December 31, 2016 Total revenue $ 54,747 $ 12,197 Property operating expenses 18,463 3,850 Net operating income 36,284 8,347 Supervisory, administrative and other expenses (3,921 ) (949 ) Depreciation and amortization (29,192 ) (6,235 ) Interest expense (11,389 ) (2,823 ) Acquisition and other expenses (1,146 ) (4,277 ) Net loss $ (9,364 ) $ (5,937 ) |
SELF STORAGE PROPERTY ACQUISI29
SELF STORAGE PROPERTY ACQUISITIONS AND DISPOSITIONS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Business Combinations [Abstract] | |
Schedule of investments in self storage property acquisitions | The following table summarizes, by calendar quarter, the investments in self storage property acquisitions completed by the Company during the year s ended December 31, 2017 and 2016 (dollars in thousands): Acquisitions closed during the Three Months Ended: Summary of Investment Number of Properties Cash and Acquisition Costs Value of OP Equity (1) Liabilities Assumed Total Mortgages (2) Other March 31, 2017 5 $ 26,780 $ 4,964 $ — $ 183 $ 31,927 June 30, 2017 10 60,672 8,931 — 387 69,990 September 30, 2017 19 122,742 267 — 826 123,835 December 31, 2017 31 181,809 17,019 — 2,220 201,048 Total 65 $ 392,003 $ 31,181 $ — $ 3,616 $ 426,800 March 31, 2016 17 $ 63,300 $ 19,068 $ 5,861 $ 584 $ 88,813 June 30, 2016 25 61,263 80,986 55,767 1,212 199,228 September 30, 2016 34 199,890 4,841 — 896 205,627 December 31, 2016 31 208,707 16,871 — 2,125 227,703 Total 107 $ 533,160 $ 121,766 $ 61,628 $ 4,817 $ 721,371 (1) Value of OP equity represents the fair value of OP units, subordinated performance units, and LTIP units. (2) Includes fair value of debt adjustment for assumed mortgages of approximately $7.2 million during the year ended December 31, 2016 |
OTHER ASSETS (Tables)
OTHER ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of other assets | Other assets consist of the following (dollars in thousands): December 31, 2017 2016 Customer in-place leases, net of accumulated amortization of $3,914 and $7,831, respectively $ 6,590 $ 9,374 Receivables: Trade, net 2,274 1,898 PROs and other affiliates 979 601 Receivable from unconsolidated real estate venture 1,200 1,093 Property acquisition deposits 5,050 477 Interest rate swaps 12,414 8,742 Prepaid expenses and other 3,949 1,879 Corporate furniture, equipment and other, net 1,444 1,243 Trade name 3,200 3,200 Management contract, net of accumulated amortization of $856 and $148, respectively 9,765 10,473 Goodwill 5,750 5,750 Total $ 52,615 $ 44,730 |
DEBT FINANCING (Tables)
DEBT FINANCING (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Schedule of debt | The Company's outstanding debt as of December 31, 2017 and 2016 is summarized as follows (dollars in thousands): December 31, Interest Rate (1) 2017 2016 Credit Facility: Revolving line of credit 2.96% $ 88,500 $ 246,500 Term loan A 2.63% 235,000 225,000 Term loan B 3.24% 155,000 100,000 Term loan C 3.71% 105,000 — Term loan facility 3.08% 100,000 100,000 Fixed rate mortgages payable 4.15% 271,491 201,694 Total principal 954,991 873,194 Unamortized debt issuance costs and debt premium, net 3,106 5,760 Total debt $ 958,097 $ 878,954 (1) Represents the effective interest rate as of December 31, 2017 . Effective interest rate incorporates the stated rate plus the impact of interest rate cash flow hedges and discount and premium amortization, if applicable. For the revolving line of credit, the effective interest rate excludes fees for unused borrowings. |
Schedule of future debt maturities | Based on existing debt agreements in effect as of December 31, 2017 , the scheduled principal and maturity payments for the Company's outstanding borrowings are presented in the table below (in thousands): Year Ending December 31, Scheduled Principal and Maturity Payments Premium Amortization and Unamortized Debt Issuance Costs Total 2018 $ 10,617 $ 187 $ 10,804 2019 4,983 131 5,114 2020 127,745 (220 ) 127,525 2021 242,509 (307 ) 242,202 2022 159,205 (25 ) 159,180 After 2023 409,932 3,340 413,272 $ 954,991 $ 3,106 $ 958,097 |
EQUITY-BASED AWARDS (Tables)
EQUITY-BASED AWARDS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of activity compensatory and acquisition consideration LTIP grants | The following table summarizes activity for the performance-based LTIP unit awards granted during the year ended December 31, 2017 , including the the minimum, target and maximum number of LTIP units that may be earned upon the achievement of the performance criteria measured over the period of three years from the grant date. Performance-Based LTIP Unit Awards Minimum Target Maximum Weighted Average Grant-Date Fair Value Outstanding unvested at December 31, 2016 — — — $ — Granted — 40,390 90,874 27.63 Outstanding unvested at December 31, 2017 — 40,390 90,874 $ 27.63 The following table summarizes activity for the time-based LTIP unit awards for the years ended December 31, 2017 , 2016 and 2015 : Time-Based LTIP Unit Awards 2017 2016 2015 Number of LTIP units Weighted Average Grant-Date Fair Value Number of LTIP units Weighted Average Grant-Date Fair Value Number of LTIP units Weighted Average Grant-Date Fair Value Outstanding unvested at beginning of year 294,529 $ 14.74 236,265 $ 10.41 509,166 $ 10.07 Granted 128,051 22.89 177,546 17.59 6,000 13.00 Vested (194,814 ) 13.43 (119,282 ) 10.41 (278,901 ) 9.84 Unvested at end of year 227,766 $ 20.37 294,529 $ 14.74 236,265 $ 10.41 The following table presents the number of units vested and forfeited for acquisition grants during the years ended December 31, 2017 , 2016 and 2015 : Total LTIP units Total unvested units, December 31, 2014 522,900 Units vested in 2015 related to properties contributed or sourced by PROs (99,100 ) Total unvested units, December 31, 2015 423,800 Units vested in 2016 related to properties contributed or sourced by PROs (45,100 ) Units forfeited (118,300 ) Total unvested units, December 31, 2016 260,400 Units vested in 2017 related to properties contributed or sourced by PROs (36,400 ) Total unvested units, December 31, 2017 224,000 |
Schedule of valuation assumptions for LTIP Unit grants | The following table summarizes the assumptions used to value the performance-based LTIP unit awards granted during the year ended December 31, 2017: 2017 Risk-free interest rate 1.58 % Dividend yield 4.35 % Expected volatility 29.96 % |
Schedule of activity for restricted common shares | The following table summarizes activity for restricted common shares for the years ended December 31, 2017 and 2016 : Year Ended December 31, 2017 2016 2015 Number of Restricted Common Shares Weighted Average Grant-Date Fair Value Number of Restricted Common Shares Weighted Average Grant-Date Fair Value Number of Restricted Common Shares Weighted Average Grant-Date Fair Value Outstanding at beginning of year 13,590 $ 12.40 11,000 $ 12.40 — $ — Granted 16,525 24.04 8,090 17.19 17,210 12.40 Vested (8,530 ) 14.11 (5,500 ) 12.40 (6,000 ) 12.40 Forfeited — — — — (210 ) 12.40 Unvested at end of year 21,585 $ 22.43 13,590 $ 12.40 11,000 $ 12.40 |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of the computation of basic and diluted earnings per common share | The following table sets forth the computation of basic and diluted earnings (loss) per common share for the years ended December 31, 2017 , 2016 and 2015 (in thousands, except per share amounts): Year Ended December 31, 2017 2016 2015 Earnings (loss) per common share - basic and diluted Numerator Net income $ 45,998 $ 24,866 $ 4,796 Net (income) loss attributable to noncontrolling interests (43,037 ) (6,901 ) 7,644 Net income attributable to National Storage Affiliates Trust 2,961 17,965 12,440 Distributions to preferred shareholders (2,300 ) — — Distributed and undistributed earnings allocated to participating securities (28 ) (18 ) (9 ) Net income attributable to common shareholders - basic 633 17,947 12,431 Effect of assumed conversion of dilutive securities — 6,783 (4,919 ) Net income attributable to common shareholders - diluted $ 633 $ 24,730 $ 7,512 Denominator Weighted average shares outstanding - basic 44,423 29,887 15,463 Effect of dilutive securities: Weighted average OP units outstanding — 24,262 15,697 Weighted average DownREIT OP unit equivalents outstanding — 1,835 1,171 Weighted average LTIP units outstanding — 1,846 1,272 Weighted average subordinated performance units and DownREIT subordinated performance unit equivalents — 20,917 11,806 Weighted average shares outstanding - diluted 44,423 78,747 45,409 Earnings (loss) per share - basic $ 0.01 $ 0.60 $ 0.80 Earnings (loss) per share - diluted $ 0.01 $ 0.31 $ 0.17 Dividends declared per common share $ 1.04 $ 0.88 $ 0.54 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of future minimum cash payments under operating leases | As of December 31, 2017 , future minimum cash payments under the Company's operating leases are as follows (in thousands): Year Ending December 31, Real Estate Leasehold Interests Office Lease Total 2018 $ 1,329 $ 184 $ 1,513 2019 1,334 188 1,522 2020 1,379 112 1,491 2021 1,404 — 1,404 2022 1,419 — 1,419 2023 through 2092 37,498 — 37,498 $ 44,363 $ 484 $ 44,847 |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Schedule of interest rate swap derivatives fair value | Information regarding the Company's interest rate swaps measured at fair value, which are classified within Level 2 of the GAAP fair value hierarchy, is presented below (dollars in thousands): Interest Rate Swaps Designated as Cash Flow Hedges Fair value at December 31, 2015 $ (972 ) Designation of interest rate swap as a cash flow hedge 19 Losses on interest rate swaps reclassified into interest expense from accumulated other comprehensive loss 2,678 Unrealized losses included in accumulated other comprehensive loss 6,434 Fair value at December 31, 2016 $ 8,159 Cash flow hedge ineffectiveness 12 Losses on interest rate swaps reclassified into interest expense from accumulated other comprehensive loss 2,308 Unrealized gains included in accumulated other comprehensive loss 1,935 Fair value at December 31, 2017 $ 12,414 |
UNAUDITED SELECTED QUARTERLY 36
UNAUDITED SELECTED QUARTERLY FINANCIAL DATA (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of quarterly financial information | The following is a summary of quarterly financial information for the years ended December 31, 2017 and 2016 (in thousands, except per share data): For the three months ended March 31, June 30, September 30, December 31, 2017 2017 2017 2017 Total revenues $ 61,563 $ 64,341 $ 68,858 $ 73,368 Total operating expenses 45,613 45,008 47,561 51,448 Income from operations 15,950 19,333 21,297 21,920 Gain (loss) on sale of self storage properties — 5,637 106 (28 ) Net income 7,181 15,576 11,226 12,015 Net income (loss) attributable to common shareholders $ 555 $ 2,367 $ 1,271 $ (3,532 ) Earnings (loss) per share - basic $ 0.01 $ 0.05 $ 0.03 $ (0.08 ) Earnings (loss) per share - diluted $ 0.01 $ 0.05 $ 0.03 $ (0.08 ) For the three months ended March 31, June 30, September 30, December 31, 2016 2016 2016 2016 Total revenues $ 39,649 $ 47,284 $ 52,949 $ 59,164 Total operating expenses 28,504 33,382 36,908 42,596 Income from operations 11,145 13,902 16,041 16,568 Net income 4,802 6,045 7,944 6,075 Net income (loss) attributable to common shareholders $ 2,210 $ 7,370 $ (11 ) $ 8,396 Earnings (loss) per share - basic $ 0.10 $ 0.32 $ — $ 0.22 Earnings (loss) per share - diluted $ 0.07 $ 0.08 $ — $ 0.07 |
ORGANIZATION AND NATURE OF OP37
ORGANIZATION AND NATURE OF OPERATIONS - Narrative (Details) storage_unit in Thousands, ft² in Millions | Dec. 31, 2017ft²storage_unitstateproperty |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of self storage properties owned | property | 444 |
Number of states that self storage properties are owned in | state | 26 |
Total rentable square feet in self storage properties | ft² | 27.2 |
Number of storage units owned | storage_unit | 215 |
SUMMARY OF SIGNIFICANT ACCOUN38
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) | 12 Months Ended | ||
Dec. 31, 2017USD ($)segmentpartnershipproperty$ / shares | Dec. 31, 2016USD ($)property$ / shares | Dec. 31, 2015USD ($) | |
Property, Plant and Equipment [Line Items] | |||
Number of self storage properties owned | property | 444 | ||
Net book value of real estate owned | $ 2,104,875,000 | $ 1,733,533,000 | |
Carrying value of fixed rate mortgages | 954,991,000 | 873,194,000 | |
Real estate impairment charges | 0 | 0 | $ 0 |
Advertising expenses | 3,700,000 | 3,100,000 | 2,400,000 |
Deferred tax asset | 0 | 0 | |
Deferred tax liabilities | 0 | 0 | |
Unrecognized tax benefits | $ 0 | $ 0 | |
Common shares of beneficial interest, par value (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 | |
Number of reportable segments | segment | 1 | ||
Number of properties held for sale | property | 1 | 2 | |
Goodwill impairment | $ 0 | $ 0 | |
Customer In-Place Leases [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life of in-place leases | 12 months | ||
Amortization expense for in-place leases | $ 13,500,000 | 12,000,000 | $ 12,000,000 |
Building and Improvements [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 7 years | ||
Building and Improvements [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 40 years | ||
Furniture and Equipment [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 3 years | ||
Furniture and Equipment [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Estimated useful life | 10 years | ||
Mortgages [Member] | Fixed Rate Mortgages [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Carrying value of fixed rate mortgages | $ 271,491,000 | 201,694,000 | |
Variable Interest Entity, Primary Beneficiary [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Number of partnerships considered to be VIEs | partnership | 21 | ||
Number of self storage properties owned | property | 34 | ||
Net book value of real estate owned | $ 248,000,000 | 256,800,000 | |
Variable Interest Entity, Primary Beneficiary [Member] | Mortgages [Member] | Fixed Rate Mortgages [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Carrying value of fixed rate mortgages | $ 140,300,000 | $ 41,400,000 |
SHAREHOLDERS' EQUITY AND NONC39
SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS - Narrative (Details) | Dec. 11, 2017USD ($)$ / sharesshares | Oct. 11, 2017USD ($)$ / sharesshares | Dec. 16, 2016USD ($)$ / sharesshares | Jul. 06, 2016USD ($)$ / sharesshares | Apr. 28, 2015USD ($)$ / sharesshares | Dec. 31, 2017USD ($)shares | Dec. 31, 2016USD ($)$ / sharesshares | Dec. 31, 2015USD ($) | Oct. 11, 2016USD ($)agent |
Class of Stock [Line Items] | |||||||||
Net proceeds from issuance of common shares | $ | $ 140,300,000 | $ 105,500,000 | $ 237,500,000 | $ 140,261,000 | $ 378,281,000 | $ 278,070,000 | |||
Proceeds from issuance of preferred shares | $ | $ 166,566,000 | 0 | $ 0 | ||||||
ATM [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Net proceeds from issuance of common shares | $ | $ 33,600,000 | ||||||||
Number of agents used in ATM program | agent | 4 | ||||||||
Total value of common shares authorized to be sold through ATM program | $ | $ 200,000,000 | ||||||||
Common Shares [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Net proceeds from issuance of common shares in IPO | $ | $ 278,100,000 | ||||||||
Common Shares [Member] | IPO [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Issuance of shares/units (in shares) | 23,000,000 | ||||||||
Share price (in dollars per share) | $ / shares | $ 13 | ||||||||
Common Shares [Member] | Over-Allotment Option [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Issuance of shares/units (in shares) | 750,000 | 675,000 | 1,571,250 | 3,000,000 | |||||
Common Shares [Member] | Follow On Offering [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Issuance of shares/units (in shares) | 5,750,000 | 5,175,000 | 12,046,250 | ||||||
Share price (in dollars per share) | $ / shares | $ 25.50 | $ 20.48 | $ 20.75 | ||||||
Common Shares [Member] | ATM [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Issuance of shares/units (in shares) | 1,740,959 | ||||||||
Share price (in dollars per share) | $ / shares | $ 19.54 | ||||||||
Series A Preferred Shares [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Issuance of shares/units (in shares) | 6,900,000 | ||||||||
Preferred shares dividend rate (percent) | 6.00% | ||||||||
Proceeds from issuance of preferred shares | $ | $ 166,600,000 | ||||||||
Preferred shares per share amount of dividends (in dollars per share) | $ / shares | $ 1.50 | ||||||||
Preferred shares redemption price (in dollars per share) | $ / shares | $ 25 | ||||||||
Series A Preferred Shares [Member] | Over-Allotment Option [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Issuance of shares/units (in shares) | 900,000 | ||||||||
Subordinated performance units [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Number of units converted (in units) | 997,074 | ||||||||
LTIP units [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Issuance of shares/units (in shares) | 219,701 | ||||||||
NSA OP, LP [Member] | OP units [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Issuance of shares/units (in shares) | 992,210 | ||||||||
Number of units converted (in units) | 11,050 | ||||||||
Unit conversion ratio | 1 | ||||||||
Minimum conversion period | 1 year | ||||||||
Redemptions of units (in shares) | 1,409,715 | ||||||||
NSA OP, LP [Member] | OP units [Member] | Acquisition of Self Storage Properties [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Issuance of shares/units (in shares) | 1,022,718 | ||||||||
NSA OP, LP [Member] | Subordinated performance units [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Minimum conversion period | 2 years | ||||||||
Redemptions of units (in shares) | 11,050 | ||||||||
Unit conversion, lock out period | 2 years | ||||||||
NSA OP, LP [Member] | Subordinated performance units [Member] | Acquisition of Self Storage Properties [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Issuance of shares/units (in shares) | 271,267 | ||||||||
NSA OP, LP [Member] | Subordinated performance units [Member] | Affiliated Entity [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Issuance of shares/units (in shares) | 300,043 | ||||||||
NSA OP, LP [Member] | LTIP units [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Number of units converted (in units) | 992,210 | ||||||||
Unit conversion ratio | 1 | ||||||||
DownREIT Partnership [Member] | OP units [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Unit conversion ratio | 1 | ||||||||
Minimum conversion period | 5 years | ||||||||
DownREIT Partnership [Member] | Subordinated performance units [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Unit conversion ratio | 1 | ||||||||
Minimum conversion period | 5 years |
SHAREHOLDERS' EQUITY AND NONC40
SHAREHOLDERS' EQUITY AND NONCONTROLLING INTERESTS - Schedule of Outstanding Equity Interests (Details) - shares | Dec. 31, 2017 | Dec. 31, 2016 |
Partnership Subsidiaries [Member] | ||
Noncontrolling Interest [Line Items] | ||
Outstanding equity interest (in shares) | 45,317,526 | 44,913,512 |
NSA OP, LP [Member] | OP units [Member] | ||
Noncontrolling Interest [Line Items] | ||
Outstanding equity interest (in shares) | 26,719,607 | 26,125,444 |
NSA OP, LP [Member] | Subordinated performance units [Member] | ||
Noncontrolling Interest [Line Items] | ||
Outstanding equity interest (in shares) | 11,604,738 | 11,022,378 |
NSA OP, LP [Member] | LTIP units [Member] | ||
Noncontrolling Interest [Line Items] | ||
Outstanding equity interest (in shares) | 771,396 | 1,543,905 |
DownREIT Partnership [Member] | OP units [Member] | ||
Noncontrolling Interest [Line Items] | ||
Outstanding equity interest (in shares) | 1,834,786 | 1,834,786 |
DownREIT Partnership [Member] | Subordinated performance units [Member] | ||
Noncontrolling Interest [Line Items] | ||
Outstanding equity interest (in shares) | 4,386,999 | 4,386,999 |
SELF STORAGE PROPERTIES (Detail
SELF STORAGE PROPERTIES (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Real Estate [Abstract] | |||
Land | $ 528,304 | $ 456,135 | |
Buildings and improvements | 1,741,459 | 1,383,603 | |
Furniture and equipment | 5,470 | 4,598 | |
Total self storage properties | 2,275,233 | 1,844,336 | |
Less accumulated depreciation | (170,358) | (110,803) | |
Self storage properties, net | 2,104,875 | 1,733,533 | |
Depreciation expense related to self storage properties | $ 60,500 | $ 42,700 | $ 28,500 |
INVESTMENT IN UNCONSOLIDATED 42
INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURE - Narrative (Details) storage_unit in Thousands, $ in Thousands, ft² in Millions | Oct. 04, 2016USD ($) | Dec. 31, 2017USD ($)ft²storage_unitstateproperty$ / property | Dec. 31, 2016USD ($)property | Dec. 31, 2015USD ($) |
Schedule of Equity Method Investments [Line Items] | ||||
Contributions to unconsolidated real estate venture | $ 15,289 | $ 82,950 | $ 0 | |
Number of self storage properties | property | 444 | |||
Total rentable square feet in self storage properties | ft² | 27.2 | |||
Number of storage units owned | storage_unit | 215 | |||
Number of states that self storage properties are owned in | state | 26 | |||
Investment in unconsolidated real estate venture | $ 89,093 | 81,486 | ||
Outside basis capitalized in investment in unconsolidated real estate venture | 3,700 | |||
Equity in losses of unconsolidated real estate venture | $ (2,339) | (1,484) | $ 0 | |
State Pension Fund [Member] | iStorage Facilities JV Portfolio [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity method investment ownership percentage (percent) | 75.00% | |||
Joint Venture [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity method investment, monthly property management fee (percent) | 6.00% | |||
Equity method investment, annual call center fee (percent) | 1.00% | |||
Equity method investment, monthly platform fee (in dollars per property) | $ / property | 1,250 | |||
Equity method investment, acquisition fee (percent) | 0.65% | |||
Equity method investment, acquisition fee term (years) | 4 years | |||
Equity method investment, development management fee (percent) | 3.00% | |||
Equity method investment, warranty protection exchange, proceeds given in exchange (percent) | 50.00% | |||
Joint Venture [Member] | iStorage Facilities JV Portfolio [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Aggregate purchase price of JV portfolio | $ 630,000 | |||
Number of self storage properties acquired | property | 66 | |||
Total equity contributed by JV Partners to Joint Venture | $ 320,000 | |||
Equity contributed by JV Partner to Joint Venture | 80,000 | |||
Joint Venture [Member] | Unconsolidated Real Estate Venture [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Number of self storage properties acquired | property | 5 | |||
Estimated fair value of self storage properties acquired | $ 59,300 | |||
Contributions to unconsolidated real estate venture | $ 14,900 | |||
Joint Venture [Member] | State Pension Fund [Member] | iStorage Facilities JV Portfolio [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity contributed by JV Partner to Joint Venture | $ 240,000 | |||
Equity Method Investee [Member] | Unconsolidated Real Estate Venture [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity method investment ownership percentage (percent) | 25.00% | |||
Number of self storage properties | property | 71 | |||
Total rentable square feet in self storage properties | ft² | 4.9 | |||
Number of storage units owned | storage_unit | 39 | |||
Number of states that self storage properties are owned in | state | 13 | |||
Equity Method Investee [Member] | Customary Fees [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Management and other fees | $ 8,100 | $ 1,800 |
INVESTMENT IN UNCONSOLIDATED 43
INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURE - Condensed Financial Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
ASSETS | ||
Self storage properties, net | $ 655,973 | $ 614,754 |
Other assets | 8,397 | 19,936 |
Total assets | 664,370 | 634,690 |
LIABILITIES AND EQUITY | ||
Debt financing | 317,359 | 317,047 |
Other liabilities | 4,855 | 4,498 |
Equity | 342,156 | 313,145 |
Total liabilities and equity | 664,370 | 634,690 |
INCOME STATEMENT | ||
Total revenue | 54,747 | 12,197 |
Property operating expenses | 18,463 | 3,850 |
Net operating income | 36,284 | 8,347 |
Supervisory, administrative and other expenses | (3,921) | (949) |
Depreciation and amortization | (29,192) | (6,235) |
Interest expense | (11,389) | (2,823) |
Acquisition and other expenses | (1,146) | (4,277) |
Net loss | $ (9,364) | $ (5,937) |
INVESTMENT IN UNCONSOLIDATED 44
INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURE - iStorage Property Management Platform Acquisition (Details) - USD ($) $ in Thousands | Oct. 04, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 5,750 | $ 5,750 | ||
Property Management Platform [Member] | ||||
Business Acquisition [Line Items] | ||||
Aggregate purchase price | $ 20,000 | |||
Tangible fixed assets acquired | 400 | |||
Goodwill | 5,800 | |||
Pro forma revenue | 4,900 | $ 6,300 | ||
Pro forma net income | $ 600 | $ 700 | ||
Property Management Platform [Member] | Trade Names [Member] | ||||
Business Acquisition [Line Items] | ||||
Trade name acquired | 3,200 | |||
Property Management Platform [Member] | Service Agreements [Member] | ||||
Business Acquisition [Line Items] | ||||
Management contract acquired | $ 10,600 | |||
Amortization period of acquired management contract asset | 15 years | |||
Line of Credit [Member] | Revolving line of credit [Member] | Credit Facility [Member] | ||||
Business Acquisition [Line Items] | ||||
Effective interest rate (percent) | 2.96% | 2.17% |
SELF STORAGE PROPERTY ACQUISI45
SELF STORAGE PROPERTY ACQUISITIONS AND DISPOSITIONS - Narrative (Details) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
Dec. 31, 2016USD ($)property | Dec. 31, 2017USD ($)property | Sep. 30, 2017property | Jun. 30, 2017property | Mar. 31, 2017property | Dec. 31, 2017USD ($)property | Dec. 31, 2016USD ($)property | |
Business Acquisition [Line Items] | |||||||
Recognized fair value allocated to real estate | $ 703,700,000 | $ 416,300,000 | $ 416,300,000 | $ 703,700,000 | |||
Acquisition-related costs capitalized | 3,600,000 | ||||||
Pro forma revenue | 15,500,000 | 35,600,000 | |||||
Pro forma operating income | $ 500,000 | 3,700,000 | |||||
Number of self storage properties sold | property | 1 | 3 | |||||
Gross selling price of self storage property sold | $ 4,900,000 | 17,800,000 | $ 17,800,000 | 4,900,000 | |||
Gain on sale of self storage properties | 5,700,000 | 0 | |||||
Customer In-Place Leases [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Recognized fair value allocated to in-place leases | 17,700,000 | 10,500,000 | $ 10,500,000 | $ 17,700,000 | |||
Participating Regional Operator [Member] | Affiliated Entity [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Number of self storage properties acquired | property | 10 | 23 | |||||
Estimated fair value of acquired self storage properties | 176,300,000 | $ 73,200,000 | $ 73,200,000 | $ 176,300,000 | |||
2017 Acquisitions [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Number of self storage properties acquired | property | 31 | 19 | 10 | 5 | 65 | ||
Estimated fair value of acquired self storage properties | $ 426,800,000 | $ 426,800,000 | |||||
2016 Acquisitions [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Number of self storage properties acquired | property | 107 | ||||||
Estimated fair value of acquired self storage properties | $ 721,400,000 | $ 721,400,000 |
SELF STORAGE PROPERTY ACQUISI46
SELF STORAGE PROPERTY ACQUISITIONS AND DISPOSITIONS - Acquisitions (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017USD ($)property | Sep. 30, 2017USD ($)property | Jun. 30, 2017USD ($)property | Mar. 31, 2017USD ($)property | Dec. 31, 2016USD ($)property | Sep. 30, 2016USD ($)property | Jun. 30, 2016USD ($)property | Mar. 31, 2016USD ($)property | Dec. 31, 2017USD ($)property | Dec. 31, 2016USD ($)property | Dec. 31, 2015USD ($) | |
Business Acquisition [Line Items] | |||||||||||
Consideration given, cash and acquisition costs | $ 0 | $ 19,933 | $ 0 | ||||||||
Business combination, debt adjustment on assumed mortgages | $ 7,200 | $ 7,200 | |||||||||
2017 Acquisitions [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Number of self storage properties acquired | property | 31 | 19 | 10 | 5 | 65 | ||||||
Consideration given, cash and acquisition costs | $ 181,809 | $ 122,742 | $ 60,672 | $ 26,780 | $ 392,003 | ||||||
Consideration given, value of OP Equity | 17,019 | 267 | 8,931 | 4,964 | 31,181 | ||||||
Liabilities assumed, mortgages | 0 | 0 | 0 | 0 | 0 | ||||||
Liabilities assumed, other | 2,220 | 826 | 387 | 183 | 3,616 | ||||||
Total consideration given and liabilities assumed | $ 201,048 | $ 123,835 | $ 69,990 | $ 31,927 | $ 426,800 | ||||||
2016 Acquisitions [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Number of self storage properties acquired | property | 31 | 34 | 25 | 17 | 107 | ||||||
Consideration given, cash and acquisition costs | $ 208,707 | $ 199,890 | $ 61,263 | $ 63,300 | $ 533,160 | ||||||
Consideration given, value of OP Equity | 16,871 | 4,841 | 80,986 | 19,068 | 121,766 | ||||||
Liabilities assumed, mortgages | 0 | 0 | 55,767 | 5,861 | 61,628 | ||||||
Liabilities assumed, other | 2,125 | 896 | 1,212 | 584 | 4,817 | ||||||
Total consideration given and liabilities assumed | $ 227,703 | $ 205,627 | $ 199,228 | $ 88,813 | $ 721,371 |
SELF STORAGE PROPERTY ACQUISI47
SELF STORAGE PROPERTY ACQUISITIONS AND DISPOSITIONS - Pro Forma Information (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2016property | Sep. 30, 2016property | Jun. 30, 2016property | Mar. 31, 2016property | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($)property | Dec. 31, 2015USD ($) | |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | |||||||
Acquisition costs | $ | $ 593 | $ 6,546 | $ 4,765 | ||||
Credit Facility [Member] | Line of Credit [Member] | Revolving line of credit [Member] | |||||||
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | |||||||
Effective interest rate (percent) | 2.17% | 2.96% | 2.17% | ||||
2016 Acquisitions [Member] | |||||||
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | |||||||
Number of self storage properties acquired | property | 31 | 34 | 25 | 17 | 107 | ||
Number of businesses acquired for which pro forma financial information is available | property | 100 | ||||||
Number of businesses acquired for which pro forma financial information is not available | property | 7 | ||||||
Pro forma revenue | $ | $ 35,500 | 61,200 | |||||
Pro forma net income (loss) | $ | $ 15,300 | $ (23,100) |
OTHER ASSETS - Schedule of Othe
OTHER ASSETS - Schedule of Other Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Receivables: | |||
Trade, net | $ 2,274 | $ 1,898 | |
PROs and other affiliates | 979 | 601 | |
Receivable from unconsolidated real estate venture | 1,200 | 1,093 | |
Property acquisition deposits | 5,050 | 477 | |
Interest rate swaps | 12,414 | 8,742 | |
Prepaid expenses and other | 3,949 | 1,879 | |
Corporate furniture, equipment and other, net | 1,444 | 1,243 | |
Goodwill | 5,750 | 5,750 | |
Total | 52,615 | 44,730 | |
Customer In-Place Leases [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization expense | 13,500 | 12,000 | $ 12,000 |
Accumulated amortization | 3,914 | 7,831 | |
Other Assets [Abstract] | |||
Finite-lived intangible assets, net of amortization | 6,590 | 9,374 | |
Trade Names [Member] | |||
Other Assets [Abstract] | |||
Finite-lived intangible assets, net of amortization | 3,200 | 3,200 | |
Management Contract [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization expense | 700 | 100 | |
Accumulated amortization | 856 | 148 | |
Other Assets [Abstract] | |||
Finite-lived intangible assets, net of amortization | $ 9,765 | $ 10,473 |
DEBT FINANCING - Debt Summary (
DEBT FINANCING - Debt Summary (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Principal amount | $ 954,991 | $ 873,194 |
Unamortized debt issuance costs and debt premium, net | 3,106 | 5,760 |
Total debt | $ 958,097 | $ 878,954 |
Line of Credit [Member] | Credit Facility [Member] | Revolving line of credit [Member] | ||
Debt Instrument [Line Items] | ||
Effective interest rate (percent) | 2.96% | 2.17% |
Principal amount | $ 88,500 | $ 246,500 |
Unsecured Debt [Member] | Credit Facility [Member] | Tranche A Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Effective interest rate (percent) | 2.63% | |
Principal amount | $ 235,000 | 225,000 |
Unsecured Debt [Member] | Credit Facility [Member] | Tranche B Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Effective interest rate (percent) | 3.24% | |
Principal amount | $ 155,000 | 100,000 |
Unsecured Debt [Member] | Credit Facility [Member] | Tranche C Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Effective interest rate (percent) | 3.71% | |
Principal amount | $ 105,000 | 0 |
Unsecured Debt [Member] | Term Loan Facility [Member] | ||
Debt Instrument [Line Items] | ||
Effective interest rate (percent) | 3.08% | |
Principal amount | $ 100,000 | 100,000 |
Mortgages [Member] | Fixed Rate Mortgages [Member] | ||
Debt Instrument [Line Items] | ||
Effective interest rate (percent) | 4.15% | |
Principal amount | $ 271,491 | $ 201,694 |
DEBT FINANCING - Future Maturit
DEBT FINANCING - Future Maturities (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Scheduled Principal and Maturity Payments | ||
2,018 | $ 10,617 | |
2,019 | 4,983 | |
2,020 | 127,745 | |
2,021 | 242,509 | |
2,022 | 159,205 | |
After 2,023 | 409,932 | |
Total principal | 954,991 | $ 873,194 |
Premium Amortization and Unamortized Debt Issuance Costs | ||
2,018 | 187 | |
2,019 | 131 | |
2,020 | (220) | |
2,021 | (307) | |
2,022 | (25) | |
After 2,023 | 3,340 | |
Total premium amortization and unamortized debt issuance costs | 3,106 | |
Total | ||
2,018 | 10,804 | |
2,019 | 5,114 | |
2,020 | 127,525 | |
2,021 | 242,202 | |
2,022 | 159,180 | |
After 2,023 | 413,272 | |
Total debt | $ 958,097 | $ 878,954 |
DEBT FINANCING - Narrative (Det
DEBT FINANCING - Narrative (Details) | Jan. 29, 2018USD ($) | Jun. 30, 2016USD ($) | Aug. 31, 2017USD ($)property | Dec. 31, 2017USD ($)componentagency | Dec. 31, 2016USD ($)property | Dec. 31, 2015USD ($) |
Debt Instrument [Line Items] | ||||||
Repayment of long term debt | $ 679,104,000 | $ 558,597,000 | $ 357,273,000 | |||
Credit Facility [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Covenant compliance, maximum leverage ratio (percent) | 60.00% | |||||
Covenant compliance, minimum interest coverage ratio | 1.5 | |||||
Covenant compliance, required minimum net worth | $ 682,600,000 | |||||
Covenant compliance, required minimum net worth, addition to base, percent of equity issuances (percent) | 75.00% | |||||
Covenant compliance, maximum unsecured debt to unencumbered asset ratio (percent) | 60.00% | |||||
Covenant compliance, unencumbered net operating income to unsecured interest expense ratio | 2 | |||||
Line of Credit [Member] | Credit Facility [Member] | Revolving line of credit [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | $ 400,000,000 | |||||
Extension fee (percent) | 0.15% | |||||
Remaining borrowing capacity | $ 306,800,000 | |||||
Effective interest rate (percent) | 2.96% | 2.17% | ||||
Line of Credit [Member] | Credit Facility [Member] | Revolving line of credit [Member] | Minimum [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Elective unused borrowing capacity fee (percent) | 0.15% | |||||
Unused borrowing capacity fee (percent) | 0.125% | |||||
Line of Credit [Member] | Credit Facility [Member] | Revolving line of credit [Member] | Maximum [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Elective unused borrowing capacity fee (percent) | 0.25% | |||||
Unused borrowing capacity fee (percent) | 0.30% | |||||
Line of Credit [Member] | Credit Facility [Member] | Letter of Credit [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Outstanding letters of credit | $ 4,700,000 | |||||
Line of Credit [Member] | Amended Credit Facility [Member] | Revolving line of credit [Member] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | $ 400,000,000 | |||||
Unsecured Debt [Member] | Credit Facility [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | $ 895,000,000 | |||||
Number of lender agreement components | component | 4 | |||||
Unsecured Debt [Member] | Credit Facility [Member] | Federal Funds Effective Swap Rate [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Borrowing rate spread (percent) | 0.50% | |||||
Unsecured Debt [Member] | Credit Facility [Member] | LIBOR [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Borrowing rate spread (percent) | 1.00% | |||||
Unsecured Debt [Member] | Credit Facility [Member] | Base Rate [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Minimum number of rating agencies required | agency | 2 | |||||
Unsecured Debt [Member] | Credit Facility [Member] | Minimum [Member] | LIBOR [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Leverage based margin threshold (percent) | 1.35% | |||||
Elective leverage based margin threshold (percent) | 0.85% | |||||
Unsecured Debt [Member] | Credit Facility [Member] | Minimum [Member] | Base Rate [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Leverage based margin threshold (percent) | 0.35% | |||||
Elective leverage based margin threshold (percent) | 0.00% | |||||
Unsecured Debt [Member] | Credit Facility [Member] | Maximum [Member] | LIBOR [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Leverage based margin threshold (percent) | 2.25% | |||||
Elective leverage based margin threshold (percent) | 2.45% | |||||
Unsecured Debt [Member] | Credit Facility [Member] | Maximum [Member] | Base Rate [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Leverage based margin threshold (percent) | 1.25% | |||||
Elective leverage based margin threshold (percent) | 1.45% | |||||
Unsecured Debt [Member] | Credit Facility [Member] | Tranche A Term Loan [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | $ 235,000,000 | |||||
Effective interest rate (percent) | 2.63% | |||||
Unsecured Debt [Member] | Credit Facility [Member] | Tranche B Term Loan [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | $ 155,000,000 | |||||
Effective interest rate (percent) | 3.24% | |||||
Unsecured Debt [Member] | Credit Facility [Member] | Tranche C Term Loan [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | $ 105,000,000 | |||||
Effective interest rate (percent) | 3.71% | |||||
Unsecured Debt [Member] | Term Loan Facility [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, face amount | $ 100,000,000 | |||||
Effective interest rate (percent) | 3.08% | |||||
Unsecured Debt [Member] | Term Loan Facility [Member] | Federal Funds Effective Swap Rate [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Borrowing rate spread (percent) | 0.50% | |||||
Unsecured Debt [Member] | Term Loan Facility [Member] | LIBOR [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Borrowing rate spread (percent) | 1.00% | |||||
Unsecured Debt [Member] | Term Loan Facility [Member] | Minimum [Member] | LIBOR [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Leverage based margin threshold (percent) | 1.75% | |||||
Elective leverage based margin threshold (percent) | 1.50% | |||||
Unsecured Debt [Member] | Term Loan Facility [Member] | Minimum [Member] | Base Rate [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Leverage based margin threshold (percent) | 0.75% | |||||
Elective leverage based margin threshold (percent) | 0.50% | |||||
Unsecured Debt [Member] | Term Loan Facility [Member] | Maximum [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, face amount | $ 200,000,000 | |||||
Unsecured Debt [Member] | Term Loan Facility [Member] | Maximum [Member] | LIBOR [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Leverage based margin threshold (percent) | 2.35% | |||||
Elective leverage based margin threshold (percent) | 2.45% | |||||
Unsecured Debt [Member] | Term Loan Facility [Member] | Maximum [Member] | Base Rate [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Leverage based margin threshold (percent) | 1.35% | |||||
Elective leverage based margin threshold (percent) | 1.45% | |||||
Unsecured Debt [Member] | Amended Credit Facility [Member] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | 1,300,000,000 | |||||
Current borrowing capacity | 1,000,000,000 | |||||
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche A Term Loan [Member] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | 235,000,000 | |||||
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche B Term Loan [Member] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | 155,000,000 | |||||
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche C Term Loan [Member] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Maximum borrowing capacity | $ 105,000,000 | |||||
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche D Term Loan [Member] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, term | 5 years | |||||
Debt instrument, face amount | $ 125,000,000 | |||||
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche D Term Loan [Member] | Federal Funds Effective Swap Rate [Member] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Borrowing rate spread (percent) | 0.50% | |||||
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche D Term Loan [Member] | LIBOR [Member] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Borrowing rate spread (percent) | 1.00% | |||||
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche D Term Loan [Member] | Minimum [Member] | LIBOR [Member] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Leverage based margin threshold (percent) | 1.30% | |||||
Elective leverage based margin threshold (percent) | 0.90% | |||||
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche D Term Loan [Member] | Minimum [Member] | Base Rate [Member] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Leverage based margin threshold (percent) | 0.30% | |||||
Elective leverage based margin threshold (percent) | 0.00% | |||||
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche D Term Loan [Member] | Maximum [Member] | LIBOR [Member] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Leverage based margin threshold (percent) | 1.85% | |||||
Elective leverage based margin threshold (percent) | 1.75% | |||||
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche D Term Loan [Member] | Maximum [Member] | Base Rate [Member] | Subsequent Event [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Leverage based margin threshold (percent) | 0.85% | |||||
Elective leverage based margin threshold (percent) | 0.75% | |||||
Mortgages [Member] | Fixed Rate Mortgages [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Effective interest rate (percent) | 4.15% | |||||
Liabilities assumed, mortgages | $ 61,600,000 | |||||
Number of self storage properties acquired with assumed mortgages | property | 17 | |||||
Repayment of long term debt | $ 12,200,000 | |||||
Mortgages [Member] | Fixed Rate Mortgages [Member] | Minimum [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Effective interest rate (percent) | 2.55% | |||||
Mortgages [Member] | Fixed Rate Mortgages [Member] | Maximum [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Effective interest rate (percent) | 5.00% | |||||
Secured Debt [Member] | Fixed Rate Mortgages [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, face amount | $ 84,900,000 | |||||
Number of properties used to secure debt | property | 22 | |||||
Debt instrument, fixed interest rate (percent) | 4.14% |
EQUITY-BASED AWARDS - Narrative
EQUITY-BASED AWARDS - Narrative (Details) - USD ($) $ in Millions | Dec. 31, 2013 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2017 |
2015 Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Percent of shares outstanding issuable | 5.00% | |||||
LTIP units [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Total compensation cost recognized | $ 3.5 | $ 2.5 | $ 3 | |||
Unvested compensation cost not yet recognized | $ 3.4 | $ 3.4 | $ 3.4 | |||
Recognition period on unvested shares | 2 years | |||||
LTIP units [Member] | 2013 Long-Term Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Maximum number of shares authorized under under plan (in shares) | 2,500,000 | 2,500,000 | 2,500,000 | |||
Total shares issued (in shares) | 2,474,710 | |||||
LTIP units [Member] | LP Agreement [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Total shares issued (in shares) | 313,585 | |||||
LTIP units [Member] | 2015 Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Total shares issued (in shares) | 396,471 | |||||
Time-Based LTIP Unit [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Aggregate fair value of LTIP units vested during period | $ 2.6 | $ 1.2 | $ 2.7 | |||
Granted (in shares) | 128,051 | 177,546 | 6,000 | |||
Time-Based LTIP Unit [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting period (in years) | 1 year | |||||
Time-Based LTIP Unit [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting period (in years) | 3 years | |||||
Restricted Common Shares [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Total compensation cost recognized | $ 0.2 | $ 0.1 | $ 0.1 | |||
Restricted Common Shares [Member] | 2015 Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting period (in years) | 3 years | |||||
Unvested compensation cost not yet recognized | $ 0.3 | $ 0.3 | $ 0.3 | |||
Recognition period on unvested shares | 2 years | |||||
Restricted common shares granted (in shares) | 16,525 | 8,090 | 17,210 | 41,825 | ||
Aggregate fair value and total compensation cost of vested shares | $ 0.1 | $ 0.1 | $ 0.1 | |||
Participating Regional Operator [Member] | Management [Member] | LTIP units [Member] | 2013 Long-Term Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Aggregate fair value of LTIP units vested during period | $ 0.9 | $ 0.8 | $ 1.4 | |||
Granted (in shares) | 1,683,560 | |||||
Acquisition Consultants [Member] | LTIP units [Member] | LP Agreement [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares issued for services (in shares) | 776 | 2,758 | 88,981 | |||
Shares issued for services (fair value) | $ 0.1 | $ 0.1 | $ 1 |
EQUITY-BASED AWARDS - Time-Base
EQUITY-BASED AWARDS - Time-Based LTIP Units Activity (Details) - Time-Based LTIP Unit [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Number of LTIP units | |||
Unvested units at beginning of year (in shares) | 294,529 | 236,265 | 509,166 |
Granted (in shares) | 128,051 | 177,546 | 6,000 |
Vested (in shares) | (194,814) | (119,282) | (278,901) |
Unvested units at end of year (in shares) | 227,766 | 294,529 | 236,265 |
Weighted Average Grant-Date Fair Value | |||
Unvested at beginning of year (in dollars per share) | $ 14.74 | $ 10.41 | $ 10.07 |
Granted (in dollars per share) | 22.89 | 17.59 | 13 |
Vested (in dollars per share) | 13.43 | 10.41 | 9.84 |
Unvested at end of year (in dollars per share) | $ 20.37 | $ 14.74 | $ 10.41 |
EQUITY-BASED AWARDS - Performan
EQUITY-BASED AWARDS - Performance-Based LTIP Units Activity (Details) - Performance-Based LTIP Units [Member] | 12 Months Ended |
Dec. 31, 2017$ / sharesshares | |
Weighted Average Grant-Date Fair Value | |
Unvested at beginning of year (in dollars per share) | $ / shares | $ 0 |
Granted (in dollars per share) | $ / shares | 27.63 |
Unvested at end of year (in dollars per share) | $ / shares | $ 27.63 |
Minimum [Member] | |
Number of LTIP units | |
Unvested units at beginning of year (in shares) | 0 |
Granted (in shares) | 0 |
Unvested units at end of year (in shares) | 0 |
Target [Member] | |
Number of LTIP units | |
Unvested units at beginning of year (in shares) | 0 |
Granted (in shares) | 40,390 |
Unvested units at end of year (in shares) | 40,390 |
Maximum [Member] | |
Number of LTIP units | |
Unvested units at beginning of year (in shares) | 0 |
Granted (in shares) | 90,874 |
Unvested units at end of year (in shares) | 90,874 |
EQUITY-BASED AWARDS - Perform55
EQUITY-BASED AWARDS - Performance-Based LTIP Units Valuation Assumptions (Details) - Performance-Based LTIP Units [Member] | 12 Months Ended |
Dec. 31, 2017 | |
Valuation Assumptions | |
Risk-free interest rate | 1.58% |
Dividend yield | 4.35% |
Expected volatility | 29.96% |
EQUITY-BASED AWARDS - Acquisiti
EQUITY-BASED AWARDS - Acquisition Related LTIP Units (Details) - LTIP units [Member] - 2013 Long-Term Incentive Plan [Member] - Participating Regional Operator [Member] - shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Number of LTIP units | |||
Unvested units at beginning of year (in shares) | 260,400 | 423,800 | 522,900 |
Vested (in shares) | (36,400) | (45,100) | (99,100) |
Forfeited (in shares) | (118,300) | ||
Unvested units at end of year (in shares) | 224,000 | 260,400 | 423,800 |
EQUITY-BASED AWARDS - Restricte
EQUITY-BASED AWARDS - Restricted Common Shares (Details) - Restricted Common Shares [Member] - 2015 Plan [Member] - $ / shares | 12 Months Ended | 36 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2017 | |
Number of Restricted Common Shares | ||||
Outstanding at beginning of year (in shares) | 13,590 | 11,000 | 0 | 0 |
Granted (in shares) | 16,525 | 8,090 | 17,210 | 41,825 |
Vested (in shares) | (8,530) | (5,500) | (6,000) | |
Forfeited (in shares) | 0 | 0 | (210) | |
Unvested at end of year (in shares) | 21,585 | 13,590 | 11,000 | 21,585 |
Weighted Average Grant-Date Fair Value | ||||
Outstanding at beginning of year (in dollars per share) | $ 12.40 | $ 12.40 | $ 0 | $ 0 |
Granted (in dollars per share) | 24.04 | 17.19 | 12.40 | |
Vested (in dollars per share) | 14.11 | 12.40 | 12.40 | |
Forfeited (in dollars per share) | 0 | 0 | 12.40 | |
Unvested at end of year (in dollars per share) | $ 22.43 | $ 12.40 | $ 12.40 | $ 22.43 |
EARNINGS PER SHARE - Basic and
EARNINGS PER SHARE - Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Numerator | |||||||||||
Net income | $ 12,015 | $ 11,226 | $ 15,576 | $ 7,181 | $ 6,075 | $ 7,944 | $ 6,045 | $ 4,802 | $ 45,998 | $ 24,866 | $ 4,796 |
Net (income) loss attributable to noncontrolling interests | (43,037) | (6,901) | 7,644 | ||||||||
Net income attributable to National Storage Affiliates Trust | 2,961 | 17,965 | 12,440 | ||||||||
Distributions to preferred shareholders | (2,300) | 0 | 0 | ||||||||
Distributed and undistributed earnings allocated to participating securities | (28) | (18) | (9) | ||||||||
Net income attributable to common shareholders - basic | 633 | 17,947 | 12,431 | ||||||||
Effect of assumed conversion of dilutive securities | 0 | 6,783 | (4,919) | ||||||||
Net income attributable to common shareholders - diluted | $ 633 | $ 24,730 | $ 7,512 | ||||||||
Denominator | |||||||||||
Weighted average shares outstanding - basic (in shares) | 44,423 | 29,887 | 15,463 | ||||||||
Weighted average shares outstanding - diluted (in shares) | 44,423 | 78,747 | 45,409 | ||||||||
Earnings (loss) per share - basic (in dollars per share) | $ (0.08) | $ 0.03 | $ 0.05 | $ 0.01 | $ 0.22 | $ 0 | $ 0.32 | $ 0.10 | $ 0.01 | $ 0.60 | $ 0.80 |
Earnings (loss) per share - diluted (in dollars per share) | $ (0.08) | $ 0.03 | $ 0.05 | $ 0.01 | $ 0.07 | $ 0 | $ 0.08 | $ 0.07 | 0.01 | 0.31 | 0.17 |
Dividends declared per common share (in dollars per share) | $ 1.04 | $ 0.88 | $ 0.54 | ||||||||
OP units [Member] | NSA OP, LP [Member] | |||||||||||
Denominator | |||||||||||
Effect of dilutive securities (in shares) | 0 | 24,262 | 15,697 | ||||||||
OP units [Member] | DownREIT Partnership [Member] | |||||||||||
Denominator | |||||||||||
Effect of dilutive securities (in shares) | 0 | 1,835 | 1,171 | ||||||||
LTIP units [Member] | NSA OP, LP [Member] | |||||||||||
Denominator | |||||||||||
Effect of dilutive securities (in shares) | 0 | 1,846 | 1,272 | ||||||||
Subordinated performance units [Member] | NSA OP, LP And DownREIT Partnership [Member] | |||||||||||
Denominator | |||||||||||
Effect of dilutive securities (in shares) | 0 | 20,917 | 11,806 |
EARNINGS PER SHARE - Narrative
EARNINGS PER SHARE - Narrative (Details) | 12 Months Ended |
Dec. 31, 2017shares | |
NSA OP, LP [Member] | LTIP units [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
Unit conversion ratio | 1 |
NSA OP, LP [Member] | OP units [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
Unit conversion ratio | 1 |
Minimum conversion period | 1 year |
NSA OP, LP [Member] | Subordinated performance units [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
Minimum conversion period | 2 years |
DownREIT Partnership [Member] | OP units [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
Unit conversion ratio | 1 |
Minimum conversion period | 5 years |
DownREIT Partnership [Member] | Subordinated performance units [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
Unit conversion ratio | 1 |
Minimum conversion period | 5 years |
NSA OP, LP And DownREIT Partnership [Member] | Subordinated performance units [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
Unit conversion ratio | 1 |
Minimum conversion period | 2 years |
Long-Term Incentive Plan Unit Based On Service [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
Weighted average outstanding equity interests excluded from computation of earnings per share (in units) | 318,640 |
Long-Term Incentive Plan Unit Based On Future Acquisitions [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
Weighted average outstanding equity interests excluded from computation of earnings per share (in units) | 224,000 |
OP units, DownREIT OP units, Subordinated performance units, DownREIT subordinated performance units [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
Weighted average outstanding equity interests excluded from computation of earnings per share (in units) | 50,600,000 |
RELATED PARTY TRANSACTIONS - Na
RELATED PARTY TRANSACTIONS - Narrative (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017USD ($)propertyshares | Dec. 31, 2016USD ($)propertyshares | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($)property | |
Related Party Transaction [Line Items] | ||||
Payroll and related costs reimbursed by the company | $ | $ 84,455 | $ 64,798 | $ 45,412 | |
Affiliated Entity [Member] | Acquisition of Self Storage Property from SA-SCMI LLC [Member] | Subordinated performance units [Member] | ||||
Related Party Transaction [Line Items] | ||||
Consideration, equity interest issued (in shares) | shares | 44,917 | |||
Affiliated Entity [Member] | Acquisition of Self Storage Property From Nordhagen LLLP [Member] | OP units [Member] | ||||
Related Party Transaction [Line Items] | ||||
Consideration, equity interest issued (in shares) | shares | 26,049 | |||
Affiliated Entity [Member] | Acquisition of Self Storage Property From SecurCare SelfStorage Inc [Member] | Subordinated performance units [Member] | ||||
Related Party Transaction [Line Items] | ||||
Consideration, equity interest issued (in shares) | shares | 22,214 | |||
Affiliated Entity [Member] | Acquisition of Self Storage Property From Howard Family Limited Partnership I [Member] | Subordinated performance units [Member] | ||||
Related Party Transaction [Line Items] | ||||
Consideration, equity interest issued (in shares) | shares | 88,435 | |||
Affiliated Entity [Member] | Acquisition of Self Storage Property From Howard Family Limited Partnership I [Member] | OP units [Member] | ||||
Related Party Transaction [Line Items] | ||||
Consideration, equity interest issued (in shares) | shares | 101,270 | |||
Affiliated Entity [Member] | Acquisition of Self Storage Property From Van Mourick Diversified LP [Member] | OP units [Member] | ||||
Related Party Transaction [Line Items] | ||||
Consideration, equity interest issued (in shares) | shares | 10,766 | |||
Participating Regional Operator [Member] | Management [Member] | ||||
Related Party Transaction [Line Items] | ||||
Number of self storage properties acquired | property | 16 | |||
Receivable balance netted against equity interest issued in business acquisition | $ | $ 5,200 | |||
Business Combination, Receivable Netted Against Equity Interests Issued And Issuable, Reimbursements Received for Interest Payments | $ | $ 1,300 | 1,400 | ||
Reimbursements received on assumed mortgages | $ | $ 1,300 | $ 1,400 | ||
Units issued upon reimbursement of assumed mortgages (in shares) | shares | 47,339 | 67,832 | ||
Participating Regional Operator [Member] | Management [Member] | Supervisory and Administrative Fee Agreement [Member] | ||||
Related Party Transaction [Line Items] | ||||
Supervisory and administrative fees for PROs | $ | $ 14,400 | $ 11,000 | 7,600 | |
Participating Regional Operator [Member] | Management [Member] | Supervisory and Administrative Fee Agreement [Member] | Minimum [Member] | ||||
Related Party Transaction [Line Items] | ||||
Supervisory and administrative fee arrangement of gross revenue (percent) | 5.00% | |||
Participating Regional Operator [Member] | Management [Member] | Supervisory and Administrative Fee Agreement [Member] | Maximum [Member] | ||||
Related Party Transaction [Line Items] | ||||
Supervisory and administrative fee arrangement of gross revenue (percent) | 6.00% | |||
Participating Regional Operator [Member] | Management [Member] | Affiliate Payroll Services [Member] | ||||
Related Party Transaction [Line Items] | ||||
Payroll and related costs reimbursed by the company | $ | $ 24,600 | 19,400 | 13,400 | |
Participating Regional Operator [Member] | Management [Member] | Due Diligence Costs [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due diligence expenses payable to the PROs | $ | $ 700 | $ 1,100 | $ 600 | |
Participating Regional Operator [Member] | Affiliated Entity [Member] | ||||
Related Party Transaction [Line Items] | ||||
Number of self storage properties acquired | property | 10 | 23 |
COMMITMENTS AND CONTINGENCIES -
COMMITMENTS AND CONTINGENCIES - Operating Leases (Details) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Mar. 31, 2014 | Dec. 31, 2017USD ($)property | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Other Commitments [Line Items] | ||||
Number of self storage properties that are subject to non-cancelable leasehold interest agreements | property | 6 | |||
Operating lease rent expense | $ 1,200 | $ 1,100 | $ 1,000 | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ||||
2,018 | 1,513 | |||
2,019 | 1,522 | |||
2,020 | 1,491 | |||
2,021 | 1,404 | |||
2,022 | 1,419 | |||
2023 through 2092 | 37,498 | |||
Total operating leases | 44,847 | |||
Leasehold Interests [Member] | ||||
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ||||
2,018 | 1,329 | |||
2,019 | 1,334 | |||
2,020 | 1,379 | |||
2,021 | 1,404 | |||
2,022 | 1,419 | |||
2023 through 2092 | 37,498 | |||
Total operating leases | 44,363 | |||
Office Building [Member] | ||||
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ||||
2,018 | 184 | |||
2,019 | 188 | |||
2,020 | 112 | |||
2,021 | 0 | |||
2,022 | 0 | |||
2023 through 2092 | 0 | |||
Total operating leases | 484 | |||
Office Building [Member] | Greenwood Village, Colorado | ||||
Other Commitments [Line Items] | ||||
Operating lease rent expense | $ 200 | $ 100 | $ 100 | |
Office Lease renewal additional term | 5 years |
FAIR VALUE MEASUREMENTS - Inter
FAIR VALUE MEASUREMENTS - Interest Swap Derivatives (Details) - Interest Rate Swap [Member] - Level 2 [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis [Roll Forward] | ||
Fair value at beginning of period | $ 8,159 | $ (972) |
Designation of interest rate swap as a cash flow hedge | 19 | |
Cash flow hedge ineffectiveness | 12 | |
Losses on interest rate swaps reclassified into interest expense from accumulated other comprehensive loss | 2,308 | 2,678 |
Unrealized losses included in accumulated other comprehensive loss | 1,935 | 6,434 |
Fair value of end of period | $ 12,414 | $ 8,159 |
FAIR VALUE MEASUREMENTS - Narra
FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Unrealized losses forecasted to be included in earnings transferred from AOCI in the next twelve months | $ 1.1 | |
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Aggregate notional amount | $ 595 | $ 425 |
Weighted average remaining term | 3 years 6 months | |
Weighted average fixed rate (percent) | 1.51% | |
Level 2 [Member] | Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fixed rate mortgages, fair value disclosure | $ 282.6 | $ 214 |
Weighted average market interest rate (percent) | 4.04% | 3.89% |
Weighted average contractual interest rate (percent) | 4.87% | 5.25% |
Reported Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fixed rate mortgages, fair value disclosure | $ 271.5 | $ 201.7 |
UNAUDITED SELECTED QUARTERLY 64
UNAUDITED SELECTED QUARTERLY FINANCIAL DATA (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Total revenues | $ 73,368 | $ 68,858 | $ 64,341 | $ 61,563 | $ 59,164 | $ 52,949 | $ 47,284 | $ 39,649 | $ 268,130 | $ 199,046 | $ 133,919 |
Total operating expenses | 51,448 | 47,561 | 45,008 | 45,613 | 42,596 | 36,908 | 33,382 | 28,504 | 189,630 | 141,390 | 102,328 |
Income from operations | 21,920 | 21,297 | 19,333 | 15,950 | 16,568 | 16,041 | 13,902 | 11,145 | 78,500 | 57,656 | 31,591 |
Gain (loss) on sale of self storage properties | (28) | 106 | 5,637 | 0 | 5,715 | 0 | 0 | ||||
Net income | 12,015 | 11,226 | 15,576 | 7,181 | 6,075 | 7,944 | 6,045 | 4,802 | 45,998 | 24,866 | 4,796 |
Net income (loss) attributable to common shareholders | $ (3,532) | $ 1,271 | $ 2,367 | $ 555 | $ 8,396 | $ (11) | $ 7,370 | $ 2,210 | $ 661 | $ 17,965 | $ 12,440 |
Earnings (loss) per share - basic (in dollars per share) | $ (0.08) | $ 0.03 | $ 0.05 | $ 0.01 | $ 0.22 | $ 0 | $ 0.32 | $ 0.10 | $ 0.01 | $ 0.60 | $ 0.80 |
Earnings (loss) per share - diluted (in dollars per share) | $ (0.08) | $ 0.03 | $ 0.05 | $ 0.01 | $ 0.07 | $ 0 | $ 0.08 | $ 0.07 | $ 0.01 | $ 0.31 | $ 0.17 |
SUBSEQUENT EVENTS - Self Storag
SUBSEQUENT EVENTS - Self Storage Property Acquisitions (Details) $ / shares in Units, $ in Thousands | Oct. 04, 2016USD ($) | Jan. 31, 2018USD ($)property | Feb. 27, 2018USD ($)property$ / sharesshares | Dec. 31, 2017USD ($)property | Dec. 31, 2016USD ($)property | Dec. 31, 2015USD ($) | Dec. 31, 2014property |
Subsequent Event [Line Items] | |||||||
Contributions to unconsolidated real estate venture | $ 15,289 | $ 82,950 | $ 0 | ||||
Participating Regional Operator [Member] | Affiliated Entity [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Number of self storage properties acquired | property | 10 | 23 | |||||
Participating Regional Operator [Member] | Management [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Number of self storage properties acquired | property | 16 | ||||||
Participating Regional Operator [Member] | Due Diligence Costs [Member] | Management [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Due diligence expenses payable to the PROs | $ 700 | $ 1,100 | $ 600 | ||||
Acquisition of Self Storage Properties [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Aggregate purchase price | $ 20,000 | ||||||
Subsequent Event [Member] | Series A-1 Preferred Units [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Preferred units redemption price (in dollars per share) | $ / shares | $ 25 | ||||||
Preferred shares dividend rate (percent) | 6.00% | ||||||
Subsequent Event [Member] | Affiliated Entity [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Proceeds from issuance of subordinated equity | $ 2,100 | ||||||
Subsequent Event [Member] | Equity Method Investee [Member] | Unconsolidated Real Estate Venture [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Number of self storage properties acquired | property | 1 | ||||||
Estimated fair value of self storage properties acquired | $ 9,300 | ||||||
Contributions to unconsolidated real estate venture | $ 2,400 | ||||||
Subsequent Event [Member] | Participating Regional Operator [Member] | Due Diligence Costs [Member] | Management [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Due diligence expenses payable to the PROs | $ 200 | ||||||
Subsequent Event [Member] | Acquisition of Self Storage Properties [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Number of self storage properties acquired | property | 18 | ||||||
Aggregate purchase price | $ 101,800 | ||||||
Consideration given, cash | 78,900 | ||||||
Assumed working capital liabilities | 500 | ||||||
Consideration given, value of OP Equity | $ 22,400 | ||||||
Subsequent Event [Member] | Acquisition of Self Storage Properties [Member] | Series A-1 Preferred Units [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Consideration, equity interest issued (in shares) | shares | 316,103 | ||||||
Subsequent Event [Member] | Acquisition of Self Storage Properties [Member] | OP Units [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Consideration, equity interest issued (in shares) | shares | 464,056 | ||||||
Subsequent Event [Member] | Acquisition of Self Storage Properties [Member] | Subordinated performance units [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Consideration, equity interest issued (in shares) | shares | 56,228 |
SUBSEQUENT EVENTS - Credit Faci
SUBSEQUENT EVENTS - Credit Facility Increase (Details) - Subsequent Event [Member] | Jan. 29, 2018USD ($) |
Unsecured Debt [Member] | Amended Credit Facility [Member] | |
Subsequent Event [Line Items] | |
Current borrowing capacity | $ 1,000,000,000 |
Maximum borrowing capacity | 1,300,000,000 |
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche D Term Loan [Member] | |
Subsequent Event [Line Items] | |
Debt instrument, face amount | 125,000,000 |
Credit facility expansion | $ 20,000,000 |
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche D Term Loan [Member] | Federal Funds Effective Swap Rate [Member] | |
Subsequent Event [Line Items] | |
Borrowing rate spread (percent) | 0.50% |
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche D Term Loan [Member] | LIBOR [Member] | |
Subsequent Event [Line Items] | |
Borrowing rate spread (percent) | 1.00% |
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche D Term Loan [Member] | LIBOR [Member] | Minimum [Member] | |
Subsequent Event [Line Items] | |
Leverage based margin threshold (percent) | 1.30% |
Elective leverage based margin threshold (percent) | 0.90% |
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche D Term Loan [Member] | LIBOR [Member] | Maximum [Member] | |
Subsequent Event [Line Items] | |
Leverage based margin threshold (percent) | 1.85% |
Elective leverage based margin threshold (percent) | 1.75% |
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche D Term Loan [Member] | Base Rate [Member] | Minimum [Member] | |
Subsequent Event [Line Items] | |
Leverage based margin threshold (percent) | 0.30% |
Elective leverage based margin threshold (percent) | 0.00% |
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche D Term Loan [Member] | Base Rate [Member] | Maximum [Member] | |
Subsequent Event [Line Items] | |
Leverage based margin threshold (percent) | 0.85% |
Elective leverage based margin threshold (percent) | 0.75% |
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche A Term Loan [Member] | |
Subsequent Event [Line Items] | |
Maximum borrowing capacity | $ 235,000,000 |
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche B Term Loan [Member] | |
Subsequent Event [Line Items] | |
Maximum borrowing capacity | 155,000,000 |
Unsecured Debt [Member] | Amended Credit Facility [Member] | Tranche C Term Loan [Member] | |
Subsequent Event [Line Items] | |
Maximum borrowing capacity | 105,000,000 |
Unsecured Debt [Member] | Expansion Option Of Amended Credit Facility [Member] | |
Subsequent Event [Line Items] | |
Current borrowing capacity | 300,000,000 |
Line of Credit [Member] | Amended Credit Facility [Member] | Revolving line of credit [Member] | |
Subsequent Event [Line Items] | |
Maximum borrowing capacity | $ 400,000,000 |
SUBSEQUENT EVENTS - Subordinate
SUBSEQUENT EVENTS - Subordinated Performance Unit To OP Unit Conversion (Details) - shares | Jan. 01, 2018 | Dec. 31, 2017 |
Subordinated performance units [Member] | ||
Subsequent Event [Line Items] | ||
Period prior to conversion for conversion rate metric | 1 year | |
Percentage of CAD per unit used in conversion rate calculation | 110.00% | |
Number of subordinated performance units converted (in units) | 997,074 | |
Subordinated performance units [Member] | NSA OP, LP [Member] | ||
Subsequent Event [Line Items] | ||
Minimum conversion period | 2 years | |
OP Units [Member] | NSA OP, LP [Member] | ||
Subsequent Event [Line Items] | ||
Minimum conversion period | 1 year | |
Number of subordinated performance units converted (in units) | 11,050 | |
Issuance of shares/units (in shares) | 992,210 | |
Subsequent Event [Member] | OP Units [Member] | NSA OP, LP [Member] | ||
Subsequent Event [Line Items] | ||
Issuance of shares/units (in shares) | 2,024,170 |
Schedule III - Real Estate an68
Schedule III - Real Estate and Accumulated Deprecation (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017USD ($)propertyclass | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | $ 528,936 | |||
Initial Cost to Company, Buildings and Improvements | 1,696,269 | |||
Subsequent Additions | 50,210 | |||
Gross Carrying Amount at Year-End, Land | 528,304 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,746,929 | |||
Total | 2,275,233 | $ 1,844,336 | $ 1,147,201 | $ 838,941 |
Accumulated Depreciation | 170,358 | $ 110,803 | $ 68,100 | $ 39,614 |
Federal income tax basis of land and depreciable property | $ 1,900,000 | |||
Number of businesses acquired encumbered by debt | property | 91 | |||
Aggregate encumbrances on self storage properties | $ 271,500 | |||
Number of properties consolidated into one property | property | 2 | |||
Number of classes of real estate | class | 1 | |||
Mobile [Member] | ALABAMA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | $ 991 | |||
Initial Cost to Company, Buildings and Improvements | 4,874 | |||
Subsequent Additions | 712 | |||
Gross Carrying Amount at Year-End, Land | 991 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,586 | |||
Total | 6,577 | |||
Accumulated Depreciation | 530 | |||
Lake Havasu City - Kingman [Member] | Arizona [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 671 | |||
Initial Cost to Company, Buildings and Improvements | 1,572 | |||
Subsequent Additions | 27 | |||
Gross Carrying Amount at Year-End, Land | 671 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,599 | |||
Total | 2,270 | |||
Accumulated Depreciation | 309 | |||
Lake Havasu City - Kingman, Property Two [Member] | Arizona [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 722 | |||
Initial Cost to Company, Buildings and Improvements | 2,546 | |||
Subsequent Additions | 45 | |||
Gross Carrying Amount at Year-End, Land | 722 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,591 | |||
Total | 3,313 | |||
Accumulated Depreciation | 528 | |||
Phoenix - Mesa - Glendale [Member] | Arizona [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,089 | |||
Initial Cost to Company, Buildings and Improvements | 6,607 | |||
Subsequent Additions | 55 | |||
Gross Carrying Amount at Year-End, Land | 1,089 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 6,662 | |||
Total | 7,751 | |||
Accumulated Depreciation | 1,052 | |||
Phoenix - Mesa - Glendale, Property Two [Member] | Arizona [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 3,813 | |||
Initial Cost to Company, Buildings and Improvements | 7,831 | |||
Subsequent Additions | 59 | |||
Gross Carrying Amount at Year-End, Land | 3,813 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 7,890 | |||
Total | 11,703 | |||
Accumulated Depreciation | 922 | |||
Phoenix - Mesa - Glendale, Property Three [Member] | Arizona [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,375 | |||
Initial Cost to Company, Buildings and Improvements | 2,613 | |||
Subsequent Additions | 38 | |||
Gross Carrying Amount at Year-End, Land | 1,375 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,651 | |||
Total | 4,026 | |||
Accumulated Depreciation | 555 | |||
Phoenix - Mesa - Glendale, Property Four [Member] | Arizona [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,653 | |||
Initial Cost to Company, Buildings and Improvements | 7,531 | |||
Subsequent Additions | 16 | |||
Gross Carrying Amount at Year-End, Land | 1,653 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 7,547 | |||
Total | 9,200 | |||
Accumulated Depreciation | 759 | |||
Phoenix - Mesa - Glendale, Property Five [Member] | Arizona [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,661 | |||
Initial Cost to Company, Buildings and Improvements | 3,311 | |||
Subsequent Additions | 44 | |||
Gross Carrying Amount at Year-End, Land | 1,661 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,355 | |||
Total | 5,016 | |||
Accumulated Depreciation | 425 | |||
Phoenix - Mesa - Glendale, Property Six [Member] | Arizona [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,050 | |||
Initial Cost to Company, Buildings and Improvements | 5,359 | |||
Subsequent Additions | 21 | |||
Gross Carrying Amount at Year-End, Land | 1,050 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,380 | |||
Total | 6,430 | |||
Accumulated Depreciation | 409 | |||
Phoenix - Mesa - Glendale, Property Seven [Member] | Arizona [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,198 | |||
Initial Cost to Company, Buildings and Improvements | 1,921 | |||
Subsequent Additions | 2 | |||
Gross Carrying Amount at Year-End, Land | 1,198 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,923 | |||
Total | 3,121 | |||
Accumulated Depreciation | 242 | |||
Phoenix - Mesa - Glendale, Property Eight [Member] | Arizona [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,324 | |||
Initial Cost to Company, Buildings and Improvements | 3,626 | |||
Subsequent Additions | 35 | |||
Gross Carrying Amount at Year-End, Land | 1,324 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,661 | |||
Total | 4,985 | |||
Accumulated Depreciation | 375 | |||
Phoenix - Mesa - Glendale, Property Nine [Member] | Arizona [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 3,816 | |||
Initial Cost to Company, Buildings and Improvements | 4,348 | |||
Subsequent Additions | 8 | |||
Gross Carrying Amount at Year-End, Land | 3,816 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,356 | |||
Total | 8,172 | |||
Accumulated Depreciation | 433 | |||
Phoenix - Mesa - Scottsdale [Member] | Arizona [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 5,576 | |||
Initial Cost to Company, Buildings and Improvements | 6,746 | |||
Subsequent Additions | 218 | |||
Gross Carrying Amount at Year-End, Land | 5,576 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 6,964 | |||
Total | 12,540 | |||
Accumulated Depreciation | 581 | |||
Phoenix - Mesa - Scottsdale - Property Two [Member] | Arizona [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,506 | |||
Initial Cost to Company, Buildings and Improvements | 2,881 | |||
Subsequent Additions | 68 | |||
Gross Carrying Amount at Year-End, Land | 1,506 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,949 | |||
Total | 4,455 | |||
Accumulated Depreciation | 175 | |||
Phoenix - Mesa - Scottsdale - Property Three [Member] [Member] | Arizona [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,120 | |||
Initial Cost to Company, Buildings and Improvements | 5,442 | |||
Subsequent Additions | 17 | |||
Gross Carrying Amount at Year-End, Land | 2,120 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,459 | |||
Total | 7,579 | |||
Accumulated Depreciation | 162 | |||
Tucson [Member] | Arizona [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 421 | |||
Initial Cost to Company, Buildings and Improvements | 3,855 | |||
Subsequent Additions | 74 | |||
Gross Carrying Amount at Year-End, Land | 421 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,929 | |||
Total | 4,350 | |||
Accumulated Depreciation | 484 | |||
Tucson, Property Two [Member] | Arizona [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 716 | |||
Initial Cost to Company, Buildings and Improvements | 1,365 | |||
Subsequent Additions | 7 | |||
Gross Carrying Amount at Year-End, Land | 716 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,372 | |||
Total | 2,088 | |||
Accumulated Depreciation | 319 | |||
Anaheim - Santa Ana - Irvine [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,530 | |||
Initial Cost to Company, Buildings and Improvements | 5,799 | |||
Subsequent Additions | 289 | |||
Gross Carrying Amount at Year-End, Land | 1,530 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 6,088 | |||
Total | 7,618 | |||
Accumulated Depreciation | 241 | |||
Bakersfield [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 511 | |||
Initial Cost to Company, Buildings and Improvements | 2,804 | |||
Subsequent Additions | 43 | |||
Gross Carrying Amount at Year-End, Land | 511 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,847 | |||
Total | 3,358 | |||
Accumulated Depreciation | 174 | |||
Bakersfield - Property Two [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,409 | |||
Initial Cost to Company, Buildings and Improvements | 3,907 | |||
Subsequent Additions | 38 | |||
Gross Carrying Amount at Year-End, Land | 1,409 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,945 | |||
Total | 5,354 | |||
Accumulated Depreciation | 214 | |||
Bakersfield - Property Three [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,882 | |||
Initial Cost to Company, Buildings and Improvements | 3,858 | |||
Subsequent Additions | 82 | |||
Gross Carrying Amount at Year-End, Land | 1,882 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,940 | |||
Total | 5,822 | |||
Accumulated Depreciation | 250 | |||
Bakersfield - Property Four [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,355 | |||
Initial Cost to Company, Buildings and Improvements | 4,678 | |||
Subsequent Additions | 27 | |||
Gross Carrying Amount at Year-End, Land | 1,355 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,705 | |||
Total | 6,060 | |||
Accumulated Depreciation | 277 | |||
Bakersfield - Property Five [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,306 | |||
Initial Cost to Company, Buildings and Improvements | 3,440 | |||
Subsequent Additions | 115 | |||
Gross Carrying Amount at Year-End, Land | 1,306 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,555 | |||
Total | 4,861 | |||
Accumulated Depreciation | 274 | |||
Bakersfield - Property Six [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,016 | |||
Initial Cost to Company, Buildings and Improvements | 3,638 | |||
Subsequent Additions | 34 | |||
Gross Carrying Amount at Year-End, Land | 1,016 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,672 | |||
Total | 4,688 | |||
Accumulated Depreciation | 193 | |||
Bakersfield - Property Seven [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,579 | |||
Initial Cost to Company, Buildings and Improvements | 3,357 | |||
Subsequent Additions | 21 | |||
Gross Carrying Amount at Year-End, Land | 1,579 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,378 | |||
Total | 4,957 | |||
Accumulated Depreciation | 225 | |||
Bakersfield - Property Eight [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 750 | |||
Initial Cost to Company, Buildings and Improvements | 5,802 | |||
Subsequent Additions | 95 | |||
Gross Carrying Amount at Year-End, Land | 750 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,897 | |||
Total | 6,647 | |||
Accumulated Depreciation | 322 | |||
Fresno [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 840 | |||
Initial Cost to Company, Buildings and Improvements | 7,502 | |||
Subsequent Additions | 323 | |||
Gross Carrying Amount at Year-End, Land | 840 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 7,825 | |||
Total | 8,665 | |||
Accumulated Depreciation | 591 | |||
Los Angeles - Long Beach - Glendale [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,345 | |||
Initial Cost to Company, Buildings and Improvements | 6,820 | |||
Subsequent Additions | 619 | |||
Gross Carrying Amount at Year-End, Land | 2,345 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 7,439 | |||
Total | 9,784 | |||
Accumulated Depreciation | 297 | |||
Los Angeles - Long Beach - Glendale - Property Two [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,350 | |||
Initial Cost to Company, Buildings and Improvements | 11,266 | |||
Subsequent Additions | 115 | |||
Gross Carrying Amount at Year-End, Land | 1,350 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 11,381 | |||
Total | 12,731 | |||
Accumulated Depreciation | 523 | |||
Los Angeles - Long Beach - Glendale - Property Three [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 763 | |||
Initial Cost to Company, Buildings and Improvements | 6,258 | |||
Subsequent Additions | 84 | |||
Gross Carrying Amount at Year-End, Land | 763 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 6,342 | |||
Total | 7,105 | |||
Accumulated Depreciation | 293 | |||
Los Angeles - Long Beach - Santa Ana [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 6,641 | |||
Initial Cost to Company, Buildings and Improvements | 8,239 | |||
Subsequent Additions | 47 | |||
Gross Carrying Amount at Year-End, Land | 6,641 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 8,286 | |||
Total | 14,927 | |||
Accumulated Depreciation | 969 | |||
Los Angeles - Long Beach - Santa Ana, Property Two [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,122 | |||
Initial Cost to Company, Buildings and Improvements | 1,881 | |||
Subsequent Additions | 7 | |||
Gross Carrying Amount at Year-End, Land | 1,122 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,888 | |||
Total | 3,010 | |||
Accumulated Depreciation | 296 | |||
Los Angeles - Long Beach - Santa Ana, Property Three [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 7,186 | |||
Initial Cost to Company, Buildings and Improvements | 12,771 | |||
Subsequent Additions | 24 | |||
Gross Carrying Amount at Year-End, Land | 7,186 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 12,795 | |||
Total | 19,981 | |||
Accumulated Depreciation | 1,717 | |||
Los Angeles - Long Beach - Santa Ana, Property Four [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Buildings and Improvements | 7,106 | |||
Subsequent Additions | 25 | |||
Gross Carrying Amount at Year-End, Land | 0 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 7,131 | |||
Total | 7,131 | |||
Accumulated Depreciation | 919 | |||
Los Angeles - Long Beach - Santa Ana, Property Five [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,366 | |||
Initial Cost to Company, Buildings and Improvements | 4,892 | |||
Subsequent Additions | 52 | |||
Gross Carrying Amount at Year-End, Land | 2,366 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,944 | |||
Total | 7,310 | |||
Accumulated Depreciation | 684 | |||
Los Angeles - Long Beach - Santa Ana, Property Six [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,871 | |||
Initial Cost to Company, Buildings and Improvements | 3,703 | |||
Subsequent Additions | 42 | |||
Gross Carrying Amount at Year-End, Land | 2,871 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,745 | |||
Total | 6,616 | |||
Accumulated Depreciation | 435 | |||
Los Angeles - Long Beach - Santa Ana, Property Seven [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 5,448 | |||
Initial Cost to Company, Buildings and Improvements | 10,015 | |||
Subsequent Additions | 148 | |||
Gross Carrying Amount at Year-End, Land | 5,448 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 10,163 | |||
Total | 15,611 | |||
Accumulated Depreciation | 1,403 | |||
Los Angeles - Long Beach - Santa Ana, Property Eight [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Buildings and Improvements | 13,150 | |||
Subsequent Additions | 15 | |||
Gross Carrying Amount at Year-End, Land | 0 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 13,165 | |||
Total | 13,165 | |||
Accumulated Depreciation | 1,320 | |||
Los Angeles - Long Beach - Santa Ana, Property Nine [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Buildings and Improvements | 10,084 | |||
Subsequent Additions | 61 | |||
Gross Carrying Amount at Year-End, Land | 0 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 10,145 | |||
Total | 10,145 | |||
Accumulated Depreciation | 62 | |||
Modesto [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,526 | |||
Initial Cost to Company, Buildings and Improvements | 12,032 | |||
Subsequent Additions | 31 | |||
Gross Carrying Amount at Year-End, Land | 1,526 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 12,063 | |||
Total | 13,589 | |||
Accumulated Depreciation | 540 | |||
Modesto - Property Two [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 773 | |||
Initial Cost to Company, Buildings and Improvements | 5,655 | |||
Subsequent Additions | 4 | |||
Gross Carrying Amount at Year-End, Land | 773 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,659 | |||
Total | 6,432 | |||
Accumulated Depreciation | 212 | |||
Riverside - San Bernardino - Ontario [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 552 | |||
Initial Cost to Company, Buildings and Improvements | 3,010 | |||
Subsequent Additions | 109 | |||
Gross Carrying Amount at Year-End, Land | 552 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,119 | |||
Total | 3,671 | |||
Accumulated Depreciation | 788 | |||
Riverside - San Bernardino - Ontario, Property Two [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,342 | |||
Initial Cost to Company, Buildings and Improvements | 4,446 | |||
Subsequent Additions | 62 | |||
Gross Carrying Amount at Year-End, Land | 1,342 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,508 | |||
Total | 5,850 | |||
Accumulated Depreciation | 1,265 | |||
Riverside - San Bernardino - Ontario, Property Three [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,672 | |||
Initial Cost to Company, Buildings and Improvements | 2,564 | |||
Subsequent Additions | 31 | |||
Gross Carrying Amount at Year-End, Land | 1,672 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,595 | |||
Total | 4,267 | |||
Accumulated Depreciation | 400 | |||
Riverside - San Bernardino - Ontario, Property Four [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 978 | |||
Initial Cost to Company, Buildings and Improvements | 1,854 | |||
Subsequent Additions | 106 | |||
Gross Carrying Amount at Year-End, Land | 978 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,960 | |||
Total | 2,938 | |||
Accumulated Depreciation | 416 | |||
Riverside - San Bernardino - Ontario, Property Five [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,068 | |||
Initial Cost to Company, Buildings and Improvements | 2,609 | |||
Subsequent Additions | 98 | |||
Gross Carrying Amount at Year-End, Land | 1,068 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,707 | |||
Total | 3,775 | |||
Accumulated Depreciation | 487 | |||
Riverside - San Bernardino - Ontario, Property Six [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,202 | |||
Initial Cost to Company, Buildings and Improvements | 2,032 | |||
Subsequent Additions | 48 | |||
Gross Carrying Amount at Year-End, Land | 1,202 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,080 | |||
Total | 3,282 | |||
Accumulated Depreciation | 331 | |||
Riverside - San Bernardino - Ontario, Property Seven [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,803 | |||
Initial Cost to Company, Buildings and Improvements | 2,758 | |||
Subsequent Additions | 36 | |||
Gross Carrying Amount at Year-End, Land | 1,803 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,794 | |||
Total | 4,597 | |||
Accumulated Depreciation | 587 | |||
Riverside - San Bernardino - Ontario, Property Eight [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,337 | |||
Initial Cost to Company, Buildings and Improvements | 4,489 | |||
Subsequent Additions | 22 | |||
Gross Carrying Amount at Year-End, Land | 1,337 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,511 | |||
Total | 5,848 | |||
Accumulated Depreciation | 637 | |||
Riverside - San Bernardino - Ontario, Property Nine [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 846 | |||
Initial Cost to Company, Buildings and Improvements | 2,508 | |||
Subsequent Additions | 43 | |||
Gross Carrying Amount at Year-End, Land | 846 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,551 | |||
Total | 3,397 | |||
Accumulated Depreciation | 505 | |||
Riverside - San Bernardino - Ontario, Property Ten [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,026 | |||
Initial Cost to Company, Buildings and Improvements | 4,552 | |||
Subsequent Additions | 27 | |||
Gross Carrying Amount at Year-End, Land | 1,026 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,579 | |||
Total | 5,605 | |||
Accumulated Depreciation | 598 | |||
Riverside - San Bernardino - Ontario, Property Eleven [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,878 | |||
Initial Cost to Company, Buildings and Improvements | 5,104 | |||
Subsequent Additions | 35 | |||
Gross Carrying Amount at Year-End, Land | 1,878 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,139 | |||
Total | 7,017 | |||
Accumulated Depreciation | 597 | |||
Riverside - San Bernardino - Ontario, Property Twelve [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 14,109 | |||
Initial Cost to Company, Buildings and Improvements | 23,112 | |||
Subsequent Additions | 199 | |||
Gross Carrying Amount at Year-End, Land | 14,109 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 23,311 | |||
Total | 37,420 | |||
Accumulated Depreciation | 3,183 | |||
Riverside - San Bernardino - Ontario, Property Thirteen [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 3,974 | |||
Initial Cost to Company, Buildings and Improvements | 6,962 | |||
Subsequent Additions | 92 | |||
Gross Carrying Amount at Year-End, Land | 3,974 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 7,054 | |||
Total | 11,028 | |||
Accumulated Depreciation | 1,143 | |||
Riverside - San Bernardino - Ontario, Property Fourteen [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,018 | |||
Initial Cost to Company, Buildings and Improvements | 3,478 | |||
Subsequent Additions | 689 | |||
Gross Carrying Amount at Year-End, Land | 2,018 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,167 | |||
Total | 6,185 | |||
Accumulated Depreciation | 818 | |||
Riverside - San Bernardino - Ontario, Property Fifteen [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,842 | |||
Initial Cost to Company, Buildings and Improvements | 3,420 | |||
Subsequent Additions | 9 | |||
Gross Carrying Amount at Year-End, Land | 1,842 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,429 | |||
Total | 5,271 | |||
Accumulated Depreciation | 356 | |||
Riverside - San Bernardino - Ontario, Property Sixteen [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,981 | |||
Initial Cost to Company, Buildings and Improvements | 3,323 | |||
Subsequent Additions | 35 | |||
Gross Carrying Amount at Year-End, Land | 1,981 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,358 | |||
Total | 5,339 | |||
Accumulated Depreciation | 433 | |||
Riverside - San Bernardino - Ontario, Property Seventeen [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 3,418 | |||
Initial Cost to Company, Buildings and Improvements | 9,907 | |||
Subsequent Additions | 76 | |||
Gross Carrying Amount at Year-End, Land | 3,418 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 9,983 | |||
Total | 13,401 | |||
Accumulated Depreciation | 847 | |||
Riverside - San Bernardino - Ontario, Property Eighteen [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,913 | |||
Initial Cost to Company, Buildings and Improvements | 6,072 | |||
Subsequent Additions | 67 | |||
Gross Carrying Amount at Year-End, Land | 1,913 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 6,139 | |||
Total | 8,052 | |||
Accumulated Depreciation | 619 | |||
Riverside - San Bernardino - Ontario, Property Nineteen [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 772 | |||
Initial Cost to Company, Buildings and Improvements | 4,044 | |||
Subsequent Additions | 72 | |||
Gross Carrying Amount at Year-End, Land | 772 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,116 | |||
Total | 4,888 | |||
Accumulated Depreciation | 494 | |||
Riverside - San Bernardino - Ontario, Property Twenty [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 597 | |||
Initial Cost to Company, Buildings and Improvements | 5,464 | |||
Subsequent Additions | 64 | |||
Gross Carrying Amount at Year-End, Land | 597 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,528 | |||
Total | 6,125 | |||
Accumulated Depreciation | 483 | |||
Riverside - San Bernardino - Ontario, Property Twenty One [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 3,022 | |||
Initial Cost to Company, Buildings and Improvements | 8,124 | |||
Subsequent Additions | 64 | |||
Gross Carrying Amount at Year-End, Land | 3,022 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 8,188 | |||
Total | 11,210 | |||
Accumulated Depreciation | 818 | |||
Riverside - San Bernardino - Ontario, Property Twenty Two [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,897 | |||
Initial Cost to Company, Buildings and Improvements | 5,725 | |||
Subsequent Additions | 646 | |||
Gross Carrying Amount at Year-End, Land | 2,467 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 6,371 | |||
Total | 8,838 | |||
Accumulated Depreciation | 755 | |||
Riverside - San Bernardino - Ontario, Property Twenty Three [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,835 | |||
Initial Cost to Company, Buildings and Improvements | 5,589 | |||
Subsequent Additions | 827 | |||
Gross Carrying Amount at Year-End, Land | 2,164 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 6,416 | |||
Total | 8,580 | |||
Accumulated Depreciation | 680 | |||
Riverside - San Bernardino - Ontario, Property Twenty Four [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,484 | |||
Initial Cost to Company, Buildings and Improvements | 5,903 | |||
Subsequent Additions | 65 | |||
Gross Carrying Amount at Year-End, Land | 2,484 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,968 | |||
Total | 8,452 | |||
Accumulated Depreciation | 471 | |||
Riverside - San Bernardino - Ontario, Property Twenty Five [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,139 | |||
Initial Cost to Company, Buildings and Improvements | 5,054 | |||
Subsequent Additions | 3 | |||
Gross Carrying Amount at Year-End, Land | 1,139 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,057 | |||
Total | 6,196 | |||
Accumulated Depreciation | 460 | |||
Riverside - San Bernardino - Ontario, Property Twenty Six [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,401 | |||
Initial Cost to Company, Buildings and Improvements | 4,577 | |||
Subsequent Additions | 5 | |||
Gross Carrying Amount at Year-End, Land | 1,401 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,582 | |||
Total | 5,983 | |||
Accumulated Depreciation | 323 | |||
Riverside - San Bernardino - Ontario, Property Twenty Seven [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 925 | |||
Initial Cost to Company, Buildings and Improvements | 3,459 | |||
Subsequent Additions | 5 | |||
Gross Carrying Amount at Year-End, Land | 925 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,464 | |||
Total | 4,389 | |||
Accumulated Depreciation | 325 | |||
Riverside - San Bernardino - Ontario, Property Twenty Eight [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,174 | |||
Initial Cost to Company, Buildings and Improvements | 2,556 | |||
Subsequent Additions | 43 | |||
Gross Carrying Amount at Year-End, Land | 1,174 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,599 | |||
Total | 3,773 | |||
Accumulated Depreciation | 288 | |||
Riverside - San Bernardino - Ontario, Property Twenty Nine [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,506 | |||
Initial Cost to Company, Buildings and Improvements | 2,913 | |||
Subsequent Additions | 9 | |||
Gross Carrying Amount at Year-End, Land | 1,506 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,922 | |||
Total | 4,428 | |||
Accumulated Depreciation | 255 | |||
Riverside - San Bernardino - Ontario, Property Thirty [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 631 | |||
Initial Cost to Company, Buildings and Improvements | 2,307 | |||
Subsequent Additions | 35 | |||
Gross Carrying Amount at Year-End, Land | 631 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,342 | |||
Total | 2,973 | |||
Accumulated Depreciation | 278 | |||
Riverside - San Bernardino - Ontario, Property Thirty One [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,318 | |||
Initial Cost to Company, Buildings and Improvements | 2,394 | |||
Subsequent Additions | 3 | |||
Gross Carrying Amount at Year-End, Land | 1,318 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,397 | |||
Total | 3,715 | |||
Accumulated Depreciation | 272 | |||
Riverside - San Bernardino - Ontario, Property Thirty Two [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,942 | |||
Initial Cost to Company, Buildings and Improvements | 2,647 | |||
Subsequent Additions | 11 | |||
Gross Carrying Amount at Year-End, Land | 1,942 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,658 | |||
Total | 4,600 | |||
Accumulated Depreciation | 354 | |||
Riverside - San Bernardino - Ontario, Property Thirty Three [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,339 | |||
Initial Cost to Company, Buildings and Improvements | 2,830 | |||
Subsequent Additions | 17 | |||
Gross Carrying Amount at Year-End, Land | 1,339 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,847 | |||
Total | 4,186 | |||
Accumulated Depreciation | 291 | |||
Riverside - San Bernardino - Ontario, Property Thirty Four [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,105 | |||
Initial Cost to Company, Buildings and Improvements | 2,672 | |||
Subsequent Additions | 5 | |||
Gross Carrying Amount at Year-End, Land | 1,105 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,677 | |||
Total | 3,782 | |||
Accumulated Depreciation | 331 | |||
Riverside - San Bernardino - Ontario, Property Thirty Five [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,542 | |||
Initial Cost to Company, Buildings and Improvements | 2,127 | |||
Subsequent Additions | 4 | |||
Gross Carrying Amount at Year-End, Land | 1,542 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,131 | |||
Total | 3,673 | |||
Accumulated Depreciation | 262 | |||
Riverside - San Bernardino - Ontario, Property Thirty Six [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,478 | |||
Initial Cost to Company, Buildings and Improvements | 4,534 | |||
Subsequent Additions | 2 | |||
Gross Carrying Amount at Year-End, Land | 1,478 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,536 | |||
Total | 6,014 | |||
Accumulated Depreciation | 329 | |||
Riverside - San Bernardino - Ontario - Property Thirty Seven [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 3,245 | |||
Initial Cost to Company, Buildings and Improvements | 4,420 | |||
Subsequent Additions | 1,383 | |||
Gross Carrying Amount at Year-End, Land | 3,245 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,803 | |||
Total | 9,048 | |||
Accumulated Depreciation | 472 | |||
Riverside - San Bernardino - Ontario - Property Thirty Eight [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 670 | |||
Initial Cost to Company, Buildings and Improvements | 8,613 | |||
Subsequent Additions | 435 | |||
Gross Carrying Amount at Year-End, Land | 670 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 9,048 | |||
Total | 9,718 | |||
Accumulated Depreciation | 416 | |||
Riverside - San Bernardino - Ontario - Property Thirty Nine [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 538 | |||
Initial Cost to Company, Buildings and Improvements | 3,921 | |||
Subsequent Additions | 367 | |||
Gross Carrying Amount at Year-End, Land | 538 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,288 | |||
Total | 4,826 | |||
Accumulated Depreciation | 198 | |||
Riverside - San Bernardino - Ontario - Property Forty [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 382 | |||
Initial Cost to Company, Buildings and Improvements | 3,442 | |||
Subsequent Additions | 335 | |||
Gross Carrying Amount at Year-End, Land | 382 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,777 | |||
Total | 4,159 | |||
Accumulated Depreciation | 181 | |||
Riverside - San Bernardino - Ontario - Property Forty One [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 806 | |||
Initial Cost to Company, Buildings and Improvements | 3,852 | |||
Subsequent Additions | 557 | |||
Gross Carrying Amount at Year-End, Land | 806 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,409 | |||
Total | 5,215 | |||
Accumulated Depreciation | 203 | |||
Riverside - San Bernardino - Ontario - Property Forty Two [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 570 | |||
Initial Cost to Company, Buildings and Improvements | 4,238 | |||
Subsequent Additions | 314 | |||
Gross Carrying Amount at Year-End, Land | 570 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,552 | |||
Total | 5,122 | |||
Accumulated Depreciation | 211 | |||
Riverside - San Bernardino - Ontario - Property Forty Three [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 345 | |||
Initial Cost to Company, Buildings and Improvements | 3,270 | |||
Subsequent Additions | 143 | |||
Gross Carrying Amount at Year-End, Land | 345 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,413 | |||
Total | 3,758 | |||
Accumulated Depreciation | 182 | |||
Riverside - San Bernardino - Ontario - Property Forty Four [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 252 | |||
Initial Cost to Company, Buildings and Improvements | 4,419 | |||
Subsequent Additions | 85 | |||
Gross Carrying Amount at Year-End, Land | 252 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,504 | |||
Total | 4,756 | |||
Accumulated Depreciation | 227 | |||
Riverside - San Bernardino - Ontario - Property Forty Five [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,691 | |||
Initial Cost to Company, Buildings and Improvements | 3,950 | |||
Subsequent Additions | 198 | |||
Gross Carrying Amount at Year-End, Land | 2,691 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,148 | |||
Total | 6,839 | |||
Accumulated Depreciation | 175 | |||
Riverside - San Bernardino - Ontario - Property Forty Six [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 302 | |||
Initial Cost to Company, Buildings and Improvements | 4,169 | |||
Subsequent Additions | 68 | |||
Gross Carrying Amount at Year-End, Land | 302 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,237 | |||
Total | 4,539 | |||
Accumulated Depreciation | 113 | |||
Riverside - San Bernardino - Ontario - Property Forty Seven [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 896 | |||
Initial Cost to Company, Buildings and Improvements | 6,397 | |||
Subsequent Additions | 117 | |||
Gross Carrying Amount at Year-End, Land | 896 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 6,514 | |||
Total | 7,410 | |||
Accumulated Depreciation | 167 | |||
Sacramento - Roseville - Arden - Arcade [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,195 | |||
Initial Cost to Company, Buildings and Improvements | 8,407 | |||
Subsequent Additions | 5 | |||
Gross Carrying Amount at Year-End, Land | 1,195 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 8,412 | |||
Total | 9,607 | |||
Accumulated Depreciation | 307 | |||
Sacramento - Roseville - Arden - Arcade - Property Two [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 425 | |||
Initial Cost to Company, Buildings and Improvements | 7,249 | |||
Subsequent Additions | 12 | |||
Gross Carrying Amount at Year-End, Land | 425 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 7,261 | |||
Total | 7,686 | |||
Accumulated Depreciation | 295 | |||
San Diego - Carlsbad [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 4,318 | |||
Initial Cost to Company, Buildings and Improvements | 19,775 | |||
Subsequent Additions | 784 | |||
Gross Carrying Amount at Year-End, Land | 4,323 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 20,559 | |||
Total | 24,882 | |||
Accumulated Depreciation | 821 | |||
San Diego - Carlsbad - San Marcos [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 3,703 | |||
Initial Cost to Company, Buildings and Improvements | 5,582 | |||
Subsequent Additions | 20 | |||
Gross Carrying Amount at Year-End, Land | 3,703 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,602 | |||
Total | 9,305 | |||
Accumulated Depreciation | 667 | |||
San Diego - Carlsbad - San Marcos, Property Two [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 3,544 | |||
Initial Cost to Company, Buildings and Improvements | 4,915 | |||
Subsequent Additions | 130 | |||
Gross Carrying Amount at Year-End, Land | 3,544 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,045 | |||
Total | 8,589 | |||
Accumulated Depreciation | 627 | |||
San Diego - Carlsbad - San Marcos, Property Three [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Buildings and Improvements | 5,568 | |||
Subsequent Additions | 67 | |||
Gross Carrying Amount at Year-End, Land | 0 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,635 | |||
Total | 5,635 | |||
Accumulated Depreciation | 465 | |||
San Diego - Carlsbad - San Marcos, Property Four [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Buildings and Improvements | 4,041 | |||
Subsequent Additions | 47 | |||
Gross Carrying Amount at Year-End, Land | 0 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,088 | |||
Total | 4,088 | |||
Accumulated Depreciation | 618 | |||
Stockton - Lodi [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 559 | |||
Initial Cost to Company, Buildings and Improvements | 5,514 | |||
Subsequent Additions | 15 | |||
Gross Carrying Amount at Year-End, Land | 559 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,529 | |||
Total | 6,088 | |||
Accumulated Depreciation | 210 | |||
Stockton - Lodi - Property Two [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,710 | |||
Initial Cost to Company, Buildings and Improvements | 8,995 | |||
Subsequent Additions | 15 | |||
Gross Carrying Amount at Year-End, Land | 1,710 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 9,010 | |||
Total | 10,720 | |||
Accumulated Depreciation | 389 | |||
Stockton - Lodi - Property Three [Member] | California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,637 | |||
Initial Cost to Company, Buildings and Improvements | 11,901 | |||
Subsequent Additions | 7 | |||
Gross Carrying Amount at Year-End, Land | 1,637 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 11,908 | |||
Total | 13,545 | |||
Accumulated Depreciation | 169 | |||
Colorado Springs [Member] | Colorado [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 455 | |||
Initial Cost to Company, Buildings and Improvements | 1,351 | |||
Subsequent Additions | 45 | |||
Gross Carrying Amount at Year-End, Land | 455 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,396 | |||
Total | 1,851 | |||
Accumulated Depreciation | 381 | |||
Colorado Springs, Property Two [Member] | Colorado [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 588 | |||
Initial Cost to Company, Buildings and Improvements | 2,162 | |||
Subsequent Additions | 1,088 | |||
Gross Carrying Amount at Year-End, Land | 588 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,250 | |||
Total | 3,838 | |||
Accumulated Depreciation | 797 | |||
Colorado Springs, Property Three [Member] | Colorado [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 632 | |||
Initial Cost to Company, Buildings and Improvements | 3,118 | |||
Subsequent Additions | 401 | |||
Gross Carrying Amount at Year-End, Land | 632 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,519 | |||
Total | 4,151 | |||
Accumulated Depreciation | 942 | |||
Colorado Springs, Property Four [Member] | Colorado [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 414 | |||
Initial Cost to Company, Buildings and Improvements | 1,535 | |||
Subsequent Additions | 319 | |||
Gross Carrying Amount at Year-End, Land | 414 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,854 | |||
Total | 2,268 | |||
Accumulated Depreciation | 498 | |||
Colorado Springs, Property Five [Member] | Colorado [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 300 | |||
Initial Cost to Company, Buildings and Improvements | 1,801 | |||
Subsequent Additions | 108 | |||
Gross Carrying Amount at Year-End, Land | 300 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,909 | |||
Total | 2,209 | |||
Accumulated Depreciation | 415 | |||
Colorado Springs, Property Six [Member] | Colorado [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 766 | |||
Initial Cost to Company, Buildings and Improvements | 5,901 | |||
Subsequent Additions | 5 | |||
Gross Carrying Amount at Year-End, Land | 766 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,906 | |||
Total | 6,672 | |||
Accumulated Depreciation | 44 | |||
Denver - Aurora - Broomfield [Member] | Colorado [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 868 | |||
Initial Cost to Company, Buildings and Improvements | 128 | |||
Subsequent Additions | 2,301 | |||
Gross Carrying Amount at Year-End, Land | 868 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,429 | |||
Total | 3,297 | |||
Accumulated Depreciation | 467 | |||
Denver - Aurora - Lakewood [Member] | Colorado [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 938 | |||
Initial Cost to Company, Buildings and Improvements | 8,449 | |||
Subsequent Additions | 20 | |||
Gross Carrying Amount at Year-End, Land | 938 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 8,469 | |||
Total | 9,407 | |||
Accumulated Depreciation | 275 | |||
Fort Collins - Loveland [Member] | Colorado [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 3,213 | |||
Initial Cost to Company, Buildings and Improvements | 3,087 | |||
Subsequent Additions | 157 | |||
Gross Carrying Amount at Year-End, Land | 3,213 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,244 | |||
Total | 6,457 | |||
Accumulated Depreciation | 851 | |||
Fort Collins - Loveland, Property Two [Member] | Colorado [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,514 | |||
Initial Cost to Company, Buildings and Improvements | 1,786 | |||
Subsequent Additions | 85 | |||
Gross Carrying Amount at Year-End, Land | 2,514 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,871 | |||
Total | 4,385 | |||
Accumulated Depreciation | 494 | |||
Pueblo [Member] | Colorado [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 156 | |||
Initial Cost to Company, Buildings and Improvements | 2,797 | |||
Subsequent Additions | 6 | |||
Gross Carrying Amount at Year-End, Land | 156 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,803 | |||
Total | 2,959 | |||
Accumulated Depreciation | 181 | |||
Cape Coral - Fort Myers [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 4,122 | |||
Initial Cost to Company, Buildings and Improvements | 8,453 | |||
Subsequent Additions | 31 | |||
Gross Carrying Amount at Year-End, Land | 4,122 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 8,484 | |||
Total | 12,606 | |||
Accumulated Depreciation | 515 | |||
Cape Coral - Fort Myers - Property Two [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 571 | |||
Initial Cost to Company, Buildings and Improvements | 3,256 | |||
Subsequent Additions | 36 | |||
Gross Carrying Amount at Year-End, Land | 571 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,292 | |||
Total | 3,863 | |||
Accumulated Depreciation | 278 | |||
Jacksonville [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,087 | |||
Initial Cost to Company, Buildings and Improvements | 19,473 | |||
Subsequent Additions | 39 | |||
Gross Carrying Amount at Year-End, Land | 2,087 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 19,512 | |||
Total | 21,599 | |||
Accumulated Depreciation | 643 | |||
Jacksonville [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,265 | |||
Initial Cost to Company, Buildings and Improvements | 2,123 | |||
Subsequent Additions | 74 | |||
Gross Carrying Amount at Year-End, Land | 1,265 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,197 | |||
Total | 3,462 | |||
Accumulated Depreciation | 324 | |||
Jacksonville - Property Two [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,629 | |||
Initial Cost to Company, Buildings and Improvements | 4,929 | |||
Subsequent Additions | 20 | |||
Gross Carrying Amount at Year-End, Land | 1,629 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,949 | |||
Total | 6,578 | |||
Accumulated Depreciation | 217 | |||
Jacksonville - Property Three [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 527 | |||
Initial Cost to Company, Buildings and Improvements | 2,434 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 527 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,434 | |||
Total | 2,961 | |||
Accumulated Depreciation | 6 | |||
Lakeland - Winter Haven [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 972 | |||
Initial Cost to Company, Buildings and Improvements | 2,159 | |||
Subsequent Additions | 133 | |||
Gross Carrying Amount at Year-End, Land | 972 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,292 | |||
Total | 3,264 | |||
Accumulated Depreciation | 232 | |||
Naples - Immokalee - Marco Island [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 3,849 | |||
Initial Cost to Company, Buildings and Improvements | 16,688 | |||
Subsequent Additions | 48 | |||
Gross Carrying Amount at Year-End, Land | 3,849 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 16,736 | |||
Total | 20,585 | |||
Accumulated Depreciation | 863 | |||
North Port - Sarasota - Bradenton [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,211 | |||
Initial Cost to Company, Buildings and Improvements | 5,682 | |||
Subsequent Additions | 5 | |||
Gross Carrying Amount at Year-End, Land | 2,211 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,687 | |||
Total | 7,898 | |||
Accumulated Depreciation | 337 | |||
North Port - Sarasota - Bradenton - Property Two [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,488 | |||
Initial Cost to Company, Buildings and Improvements | 7,282 | |||
Subsequent Additions | 58 | |||
Gross Carrying Amount at Year-End, Land | 2,488 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 7,340 | |||
Total | 9,828 | |||
Accumulated Depreciation | 411 | |||
North Port - Sarasota - Bradenton - Property Three [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,767 | |||
Initial Cost to Company, Buildings and Improvements | 5,955 | |||
Subsequent Additions | 15 | |||
Gross Carrying Amount at Year-End, Land | 1,767 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,970 | |||
Total | 7,737 | |||
Accumulated Depreciation | 382 | |||
North Port - Sarasota - Bradenton - Property Four [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,143 | |||
Initial Cost to Company, Buildings and Improvements | 5,005 | |||
Subsequent Additions | 99 | |||
Gross Carrying Amount at Year-End, Land | 2,143 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,104 | |||
Total | 7,247 | |||
Accumulated Depreciation | 426 | |||
North Port - Sarasota - Bradenton - Property Five [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,924 | |||
Initial Cost to Company, Buildings and Improvements | 4,514 | |||
Subsequent Additions | 31 | |||
Gross Carrying Amount at Year-End, Land | 1,924 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,545 | |||
Total | 6,469 | |||
Accumulated Depreciation | 322 | |||
North Port - Sarasota - Bradenton - Property Six [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,176 | |||
Initial Cost to Company, Buildings and Improvements | 3,421 | |||
Subsequent Additions | 4 | |||
Gross Carrying Amount at Year-End, Land | 1,176 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,425 | |||
Total | 4,601 | |||
Accumulated Depreciation | 203 | |||
North Port - Sarasota - Bradenton - Property Seven [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,839 | |||
Initial Cost to Company, Buildings and Improvements | 8,377 | |||
Subsequent Additions | 4 | |||
Gross Carrying Amount at Year-End, Land | 1,839 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 8,381 | |||
Total | 10,220 | |||
Accumulated Depreciation | 423 | |||
North Port - Sarasota - Bradenton - Property Eight [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,507 | |||
Initial Cost to Company, Buildings and Improvements | 7,766 | |||
Subsequent Additions | 13 | |||
Gross Carrying Amount at Year-End, Land | 2,507 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 7,779 | |||
Total | 10,286 | |||
Accumulated Depreciation | 429 | |||
North Port - Sarasota - Bradenton - Property Nine [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,685 | |||
Initial Cost to Company, Buildings and Improvements | 5,439 | |||
Subsequent Additions | 11 | |||
Gross Carrying Amount at Year-End, Land | 1,685 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,450 | |||
Total | 7,135 | |||
Accumulated Depreciation | 329 | |||
North Port - Sarasota - Bradenton - Property Ten [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 437 | |||
Initial Cost to Company, Buildings and Improvements | 5,128 | |||
Subsequent Additions | 33 | |||
Gross Carrying Amount at Year-End, Land | 437 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,161 | |||
Total | 5,598 | |||
Accumulated Depreciation | 306 | |||
North Port - Sarasota - Bradenton - Property Eleven [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,015 | |||
Initial Cost to Company, Buildings and Improvements | 3,031 | |||
Subsequent Additions | 4 | |||
Gross Carrying Amount at Year-End, Land | 1,015 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,035 | |||
Total | 4,050 | |||
Accumulated Depreciation | 170 | |||
North Port - Sarasota - Bradenton - Property Twelve [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,985 | |||
Initial Cost to Company, Buildings and Improvements | 4,299 | |||
Subsequent Additions | 668 | |||
Gross Carrying Amount at Year-End, Land | 1,985 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,967 | |||
Total | 6,952 | |||
Accumulated Depreciation | 172 | |||
North Port - Sarasota - Bradenton - Property Thirteen [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,336 | |||
Initial Cost to Company, Buildings and Improvements | 4,085 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 1,336 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,085 | |||
Total | 5,421 | |||
Accumulated Depreciation | 93 | |||
Orlando - Kissimmee - Sanford [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,426 | |||
Initial Cost to Company, Buildings and Improvements | 9,314 | |||
Subsequent Additions | 81 | |||
Gross Carrying Amount at Year-End, Land | 2,426 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 9,395 | |||
Total | 11,821 | |||
Accumulated Depreciation | 362 | |||
Orlando - Kissimmee - Sanford - Property Two [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,166 | |||
Initial Cost to Company, Buildings and Improvements | 4,672 | |||
Subsequent Additions | 74 | |||
Gross Carrying Amount at Year-End, Land | 2,166 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,746 | |||
Total | 6,912 | |||
Accumulated Depreciation | 204 | |||
Orlando - Kissimmee - Sanford - Property Three [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 4,583 | |||
Initial Cost to Company, Buildings and Improvements | 8,752 | |||
Subsequent Additions | 74 | |||
Gross Carrying Amount at Year-End, Land | 4,583 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 8,826 | |||
Total | 13,409 | |||
Accumulated Depreciation | 425 | |||
Orlando - Kissimmee - Sanford - Property Four [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 4,181 | |||
Initial Cost to Company, Buildings and Improvements | 4,268 | |||
Subsequent Additions | 142 | |||
Gross Carrying Amount at Year-End, Land | 4,181 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,410 | |||
Total | 8,591 | |||
Accumulated Depreciation | 102 | |||
Pensacola - Ferry Pass - Brent [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,025 | |||
Initial Cost to Company, Buildings and Improvements | 8,157 | |||
Subsequent Additions | 54 | |||
Gross Carrying Amount at Year-End, Land | 1,025 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 8,211 | |||
Total | 9,236 | |||
Accumulated Depreciation | 55 | |||
Punta Gorda [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,157 | |||
Initial Cost to Company, Buildings and Improvements | 2,079 | |||
Subsequent Additions | 62 | |||
Gross Carrying Amount at Year-End, Land | 1,157 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,141 | |||
Total | 3,298 | |||
Accumulated Depreciation | 70 | |||
Tampa - St. Petersburg - Clearwater [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 5,436 | |||
Initial Cost to Company, Buildings and Improvements | 10,092 | |||
Subsequent Additions | 20 | |||
Gross Carrying Amount at Year-End, Land | 5,436 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 10,112 | |||
Total | 15,548 | |||
Accumulated Depreciation | 619 | |||
Tampa - St. Petersburg - Clearwater - Property Two [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 361 | |||
Initial Cost to Company, Buildings and Improvements | 1,238 | |||
Subsequent Additions | 29 | |||
Gross Carrying Amount at Year-End, Land | 361 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,267 | |||
Total | 1,628 | |||
Accumulated Depreciation | 180 | |||
Tampa - St. Petersburg - Clearwater - Property Three [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 3,581 | |||
Initial Cost to Company, Buildings and Improvements | 2,612 | |||
Subsequent Additions | 22 | |||
Gross Carrying Amount at Year-End, Land | 3,581 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,634 | |||
Total | 6,215 | |||
Accumulated Depreciation | 96 | |||
Tampa - St. Petersburg - Clearwater - Property Four [Member] | Florida [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 4,708 | |||
Initial Cost to Company, Buildings and Improvements | 13,984 | |||
Subsequent Additions | 56 | |||
Gross Carrying Amount at Year-End, Land | 4,708 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 14,040 | |||
Total | 18,748 | |||
Accumulated Depreciation | 279 | |||
Atlanta - Sandy Springs - Marietta [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 515 | |||
Initial Cost to Company, Buildings and Improvements | 687 | |||
Subsequent Additions | 97 | |||
Gross Carrying Amount at Year-End, Land | 515 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 784 | |||
Total | 1,299 | |||
Accumulated Depreciation | 227 | |||
Atlanta - Sandy Springs - Marietta, Property Two [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 272 | |||
Initial Cost to Company, Buildings and Improvements | 1,357 | |||
Subsequent Additions | 275 | |||
Gross Carrying Amount at Year-End, Land | 272 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,632 | |||
Total | 1,904 | |||
Accumulated Depreciation | 443 | |||
Atlanta - Sandy Springs - Marietta, Property Three [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 702 | |||
Initial Cost to Company, Buildings and Improvements | 1,999 | |||
Subsequent Additions | 293 | |||
Gross Carrying Amount at Year-End, Land | 702 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,292 | |||
Total | 2,994 | |||
Accumulated Depreciation | 646 | |||
Atlanta - Sandy Springs - Marietta, Property Four [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,413 | |||
Initial Cost to Company, Buildings and Improvements | 1,590 | |||
Subsequent Additions | 159 | |||
Gross Carrying Amount at Year-End, Land | 1,413 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,749 | |||
Total | 3,162 | |||
Accumulated Depreciation | 492 | |||
Atlanta - Sandy Springs - Marietta, Property Five [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 341 | |||
Initial Cost to Company, Buildings and Improvements | 562 | |||
Subsequent Additions | 129 | |||
Gross Carrying Amount at Year-End, Land | 341 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 691 | |||
Total | 1,032 | |||
Accumulated Depreciation | 212 | |||
Atlanta - Sandy Springs - Marietta, Property Six [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 553 | |||
Initial Cost to Company, Buildings and Improvements | 847 | |||
Subsequent Additions | 169 | |||
Gross Carrying Amount at Year-End, Land | 553 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,016 | |||
Total | 1,569 | |||
Accumulated Depreciation | 305 | |||
Atlanta - Sandy Springs - Marietta, Property Seven [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 85 | |||
Initial Cost to Company, Buildings and Improvements | 445 | |||
Subsequent Additions | 260 | |||
Gross Carrying Amount at Year-End, Land | 85 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 705 | |||
Total | 790 | |||
Accumulated Depreciation | 223 | |||
Atlanta - Sandy Springs - Marietta, Property Eight [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 494 | |||
Initial Cost to Company, Buildings and Improvements | 2,215 | |||
Subsequent Additions | 235 | |||
Gross Carrying Amount at Year-End, Land | 494 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,450 | |||
Total | 2,944 | |||
Accumulated Depreciation | 653 | |||
Atlanta - Sandy Springs - Marietta, Property Nine [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,614 | |||
Initial Cost to Company, Buildings and Improvements | 2,476 | |||
Subsequent Additions | 1,674 | |||
Gross Carrying Amount at Year-End, Land | 1,614 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,150 | |||
Total | 5,764 | |||
Accumulated Depreciation | 239 | |||
Atlanta - Sandy Springs - Marietta, Property Ten [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,595 | |||
Initial Cost to Company, Buildings and Improvements | 2,143 | |||
Subsequent Additions | 218 | |||
Gross Carrying Amount at Year-End, Land | 1,595 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,361 | |||
Total | 3,956 | |||
Accumulated Depreciation | 250 | |||
Atlanta - Sandy Springs - Marietta, Property Eleven [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 666 | |||
Initial Cost to Company, Buildings and Improvements | 5,961 | |||
Subsequent Additions | 10 | |||
Gross Carrying Amount at Year-End, Land | 666 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,971 | |||
Total | 6,637 | |||
Accumulated Depreciation | 100 | |||
Atlanta - Sandy Springs - Marietta, Property Twelve [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,028 | |||
Initial Cost to Company, Buildings and Improvements | 7,041 | |||
Subsequent Additions | 6 | |||
Gross Carrying Amount at Year-End, Land | 1,028 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 7,047 | |||
Total | 8,075 | |||
Accumulated Depreciation | 70 | |||
Atlanta - Sandy Springs - Marietta, Property Thirteen [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 748 | |||
Initial Cost to Company, Buildings and Improvements | 3,382 | |||
Subsequent Additions | 7 | |||
Gross Carrying Amount at Year-End, Land | 748 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,389 | |||
Total | 4,137 | |||
Accumulated Depreciation | 30 | |||
Atlanta - Sandy Springs - Marietta, Property Fourteen [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 703 | |||
Initial Cost to Company, Buildings and Improvements | 4,014 | |||
Subsequent Additions | 7 | |||
Gross Carrying Amount at Year-End, Land | 703 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,021 | |||
Total | 4,724 | |||
Accumulated Depreciation | 35 | |||
Atlanta - Sandy Springs - Marietta, Property Fifteen [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,873 | |||
Initial Cost to Company, Buildings and Improvements | 9,109 | |||
Subsequent Additions | 4 | |||
Gross Carrying Amount at Year-End, Land | 1,873 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 9,113 | |||
Total | 10,986 | |||
Accumulated Depreciation | 73 | |||
Atlanta - Sandy Springs - Marietta, Property Sixteen [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 547 | |||
Initial Cost to Company, Buildings and Improvements | 4,073 | |||
Subsequent Additions | 5 | |||
Gross Carrying Amount at Year-End, Land | 547 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,078 | |||
Total | 4,625 | |||
Accumulated Depreciation | 34 | |||
Atlanta - Sandy Springs - Marietta, Property Seventeen [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,499 | |||
Initial Cost to Company, Buildings and Improvements | 5,279 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 1,499 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,279 | |||
Total | 6,778 | |||
Accumulated Depreciation | 45 | |||
Atlanta - Sandy Springs - Marietta, Property Eighteen [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 763 | |||
Initial Cost to Company, Buildings and Improvements | 5,135 | |||
Subsequent Additions | 4 | |||
Gross Carrying Amount at Year-End, Land | 763 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,139 | |||
Total | 5,902 | |||
Accumulated Depreciation | 36 | |||
Atlanta - Sandy Springs - Marietta, Property Nineteen [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 795 | |||
Initial Cost to Company, Buildings and Improvements | 2,941 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 795 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,941 | |||
Total | 3,736 | |||
Accumulated Depreciation | 25 | |||
Atlanta - Sandy Springs - Marietta, Property Twenty [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,356 | |||
Initial Cost to Company, Buildings and Improvements | 7,516 | |||
Subsequent Additions | 9 | |||
Gross Carrying Amount at Year-End, Land | 1,356 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 7,525 | |||
Total | 8,881 | |||
Accumulated Depreciation | 61 | |||
Atlanta - Sandy Springs - Marietta, Property Twenty-one [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 912 | |||
Initial Cost to Company, Buildings and Improvements | 5,074 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 912 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,074 | |||
Total | 5,986 | |||
Accumulated Depreciation | 37 | |||
Atlanta - Sandy Springs - Marietta, Property Twenty-two [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 570 | |||
Initial Cost to Company, Buildings and Improvements | 3,477 | |||
Subsequent Additions | 10 | |||
Gross Carrying Amount at Year-End, Land | 570 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,487 | |||
Total | 4,057 | |||
Accumulated Depreciation | 30 | |||
Atlanta - Sandy Springs - Marietta, Property Twenty-three [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,052 | |||
Initial Cost to Company, Buildings and Improvements | 7,102 | |||
Subsequent Additions | 4 | |||
Gross Carrying Amount at Year-End, Land | 1,052 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 7,106 | |||
Total | 8,158 | |||
Accumulated Depreciation | 50 | |||
Atlanta - Sandy Springs - Rosewell [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 430 | |||
Initial Cost to Company, Buildings and Improvements | 3,470 | |||
Subsequent Additions | 12 | |||
Gross Carrying Amount at Year-End, Land | 430 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,482 | |||
Total | 3,912 | |||
Accumulated Depreciation | 246 | |||
Atlanta - Sandy Springs - Rosewell - Property Two [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 972 | |||
Initial Cost to Company, Buildings and Improvements | 2,342 | |||
Subsequent Additions | 2 | |||
Gross Carrying Amount at Year-End, Land | 972 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,344 | |||
Total | 3,316 | |||
Accumulated Depreciation | 126 | |||
Augusta [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 84 | |||
Initial Cost to Company, Buildings and Improvements | 539 | |||
Subsequent Additions | 147 | |||
Gross Carrying Amount at Year-End, Land | 84 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 686 | |||
Total | 770 | |||
Accumulated Depreciation | 210 | |||
Augusta, Property Two [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 205 | |||
Initial Cost to Company, Buildings and Improvements | 686 | |||
Subsequent Additions | 141 | |||
Gross Carrying Amount at Year-End, Land | 205 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 827 | |||
Total | 1,032 | |||
Accumulated Depreciation | 238 | |||
Columbus [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 169 | |||
Initial Cost to Company, Buildings and Improvements | 342 | |||
Subsequent Additions | 156 | |||
Gross Carrying Amount at Year-End, Land | 169 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 498 | |||
Total | 667 | |||
Accumulated Depreciation | 118 | |||
Macon [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 180 | |||
Initial Cost to Company, Buildings and Improvements | 840 | |||
Subsequent Additions | 41 | |||
Gross Carrying Amount at Year-End, Land | 180 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 881 | |||
Total | 1,061 | |||
Accumulated Depreciation | 235 | |||
Savannah [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,741 | |||
Initial Cost to Company, Buildings and Improvements | 1,160 | |||
Subsequent Additions | 317 | |||
Gross Carrying Amount at Year-End, Land | 1,741 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,477 | |||
Total | 3,218 | |||
Accumulated Depreciation | 366 | |||
Savannah, Property Two [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 597 | |||
Initial Cost to Company, Buildings and Improvements | 762 | |||
Subsequent Additions | 164 | |||
Gross Carrying Amount at Year-End, Land | 597 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 926 | |||
Total | 1,523 | |||
Accumulated Depreciation | 264 | |||
Savannah, Property Three [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 409 | |||
Initial Cost to Company, Buildings and Improvements | 1,335 | |||
Subsequent Additions | 20 | |||
Gross Carrying Amount at Year-End, Land | 409 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,355 | |||
Total | 1,764 | |||
Accumulated Depreciation | 313 | |||
Savannah, Property Four [Member] | Georgia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 811 | |||
Initial Cost to Company, Buildings and Improvements | 1,181 | |||
Subsequent Additions | 132 | |||
Gross Carrying Amount at Year-End, Land | 811 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,313 | |||
Total | 2,124 | |||
Accumulated Depreciation | 301 | |||
St. Louis, Property One [Member] | ILLINOIS | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 225 | |||
Initial Cost to Company, Buildings and Improvements | 4,394 | |||
Subsequent Additions | 95 | |||
Gross Carrying Amount at Year-End, Land | 225 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,489 | |||
Total | 4,714 | |||
Accumulated Depreciation | 63 | |||
St. Louis, Property One [Member] | MISSOURI | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 352 | |||
Initial Cost to Company, Buildings and Improvements | 7,100 | |||
Subsequent Additions | 15 | |||
Gross Carrying Amount at Year-End, Land | 352 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 7,115 | |||
Total | 7,467 | |||
Accumulated Depreciation | 108 | |||
St. Louis, Property Two [Member] | ILLINOIS | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 179 | |||
Initial Cost to Company, Buildings and Improvements | 5,154 | |||
Subsequent Additions | 57 | |||
Gross Carrying Amount at Year-End, Land | 179 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,211 | |||
Total | 5,390 | |||
Accumulated Depreciation | 74 | |||
St. Louis, Property Two [Member] | MISSOURI | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 163 | |||
Initial Cost to Company, Buildings and Improvements | 1,025 | |||
Subsequent Additions | 13 | |||
Gross Carrying Amount at Year-End, Land | 163 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,038 | |||
Total | 1,201 | |||
Accumulated Depreciation | 16 | |||
St. Louis, Property Three [Member] | ILLINOIS | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 226 | |||
Initial Cost to Company, Buildings and Improvements | 3,088 | |||
Subsequent Additions | 76 | |||
Gross Carrying Amount at Year-End, Land | 226 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,164 | |||
Total | 3,390 | |||
Accumulated Depreciation | 50 | |||
St. Louis, Property Three [Member] | MISSOURI | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 354 | |||
Initial Cost to Company, Buildings and Improvements | 4,034 | |||
Subsequent Additions | 18 | |||
Gross Carrying Amount at Year-End, Land | 354 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,052 | |||
Total | 4,406 | |||
Accumulated Depreciation | 62 | |||
St. Louis, Property Four [Member] | ILLINOIS | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 174 | |||
Initial Cost to Company, Buildings and Improvements | 3,338 | |||
Subsequent Additions | 72 | |||
Gross Carrying Amount at Year-End, Land | 174 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,410 | |||
Total | 3,584 | |||
Accumulated Depreciation | 39 | |||
Indianapolis - Carmel - Anderson [Member] | INDIANA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 855 | |||
Initial Cost to Company, Buildings and Improvements | 7,273 | |||
Subsequent Additions | 12 | |||
Gross Carrying Amount at Year-End, Land | 855 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 7,285 | |||
Total | 8,140 | |||
Accumulated Depreciation | 482 | |||
Indianapolis - Carmel - Anderson - Property Two [Member] | INDIANA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 815 | |||
Initial Cost to Company, Buildings and Improvements | 3,844 | |||
Subsequent Additions | 8 | |||
Gross Carrying Amount at Year-End, Land | 815 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,852 | |||
Total | 4,667 | |||
Accumulated Depreciation | 316 | |||
Indianapolis - Carmel - Anderson - Property Three [Member] | INDIANA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 688 | |||
Initial Cost to Company, Buildings and Improvements | 3,845 | |||
Subsequent Additions | 12 | |||
Gross Carrying Amount at Year-End, Land | 688 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,857 | |||
Total | 4,545 | |||
Accumulated Depreciation | 319 | |||
Indianapolis - Carmel - Anderson - Property Four [Member] | INDIANA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 626 | |||
Initial Cost to Company, Buildings and Improvements | 4,049 | |||
Subsequent Additions | 31 | |||
Gross Carrying Amount at Year-End, Land | 626 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,080 | |||
Total | 4,706 | |||
Accumulated Depreciation | 296 | |||
Indianapolis - Carmel - Anderson - Property Five [Member] | INDIANA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,118 | |||
Initial Cost to Company, Buildings and Improvements | 4,444 | |||
Subsequent Additions | 274 | |||
Gross Carrying Amount at Year-End, Land | 1,118 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,718 | |||
Total | 5,836 | |||
Accumulated Depreciation | 416 | |||
Indianapolis - Carmel - Anderson - Property Six [Member] | INDIANA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 614 | |||
Initial Cost to Company, Buildings and Improvements | 5,487 | |||
Subsequent Additions | 37 | |||
Gross Carrying Amount at Year-End, Land | 614 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,524 | |||
Total | 6,138 | |||
Accumulated Depreciation | 354 | |||
Indianapolis - Carmel - Anderson - Property Seven [Member] | INDIANA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 619 | |||
Initial Cost to Company, Buildings and Improvements | 2,140 | |||
Subsequent Additions | 14 | |||
Gross Carrying Amount at Year-End, Land | 619 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,154 | |||
Total | 2,773 | |||
Accumulated Depreciation | 140 | |||
Indianapolis - Carmel - Anderson - Property Eight [Member] | INDIANA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 689 | |||
Initial Cost to Company, Buildings and Improvements | 6,944 | |||
Subsequent Additions | 27 | |||
Gross Carrying Amount at Year-End, Land | 689 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 6,971 | |||
Total | 7,660 | |||
Accumulated Depreciation | 272 | |||
Indianapolis - Carmel - Anderson - Property Nine [Member] | INDIANA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 609 | |||
Initial Cost to Company, Buildings and Improvements | 3,172 | |||
Subsequent Additions | 20 | |||
Gross Carrying Amount at Year-End, Land | 609 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,192 | |||
Total | 3,801 | |||
Accumulated Depreciation | 172 | |||
Indianapolis - Carmel - Anderson - Property Ten [Member] | INDIANA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 532 | |||
Initial Cost to Company, Buildings and Improvements | 5,441 | |||
Subsequent Additions | 19 | |||
Gross Carrying Amount at Year-End, Land | 532 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,460 | |||
Total | 5,992 | |||
Accumulated Depreciation | 211 | |||
Indianapolis - Carmel - Anderson - Property Eleven [Member] | INDIANA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 433 | |||
Initial Cost to Company, Buildings and Improvements | 5,817 | |||
Subsequent Additions | 10 | |||
Gross Carrying Amount at Year-End, Land | 433 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,827 | |||
Total | 6,260 | |||
Accumulated Depreciation | 216 | |||
Indianapolis - Carmel - Anderson - Property Twelve [Member] | INDIANA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 688 | |||
Initial Cost to Company, Buildings and Improvements | 5,413 | |||
Subsequent Additions | 22 | |||
Gross Carrying Amount at Year-End, Land | 688 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,435 | |||
Total | 6,123 | |||
Accumulated Depreciation | 244 | |||
Indianapolis - Carmel - Anderson - Property Thirteen [Member] | INDIANA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 575 | |||
Initial Cost to Company, Buildings and Improvements | 5,168 | |||
Subsequent Additions | 22 | |||
Gross Carrying Amount at Year-End, Land | 575 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,190 | |||
Total | 5,765 | |||
Accumulated Depreciation | 216 | |||
Indianapolis - Carmel - Anderson - Property Fourteen [Member] | INDIANA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 522 | |||
Initial Cost to Company, Buildings and Improvements | 5,366 | |||
Subsequent Additions | 16 | |||
Gross Carrying Amount at Year-End, Land | 522 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,382 | |||
Total | 5,904 | |||
Accumulated Depreciation | 212 | |||
Indianapolis - Carmel - Anderson - Property Fifteen [Member] | INDIANA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 528 | |||
Initial Cost to Company, Buildings and Improvements | 2,877 | |||
Subsequent Additions | 9 | |||
Gross Carrying Amount at Year-End, Land | 528 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,886 | |||
Total | 3,414 | |||
Accumulated Depreciation | 30 | |||
Indianapolis - Carmel - Anderson - Property Sixteen [Member] | INDIANA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,257 | |||
Initial Cost to Company, Buildings and Improvements | 6,694 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 1,257 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 6,694 | |||
Total | 7,951 | |||
Accumulated Depreciation | 57 | |||
Kansas City, Property One [Member] | KANSAS | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 816 | |||
Initial Cost to Company, Buildings and Improvements | 5,432 | |||
Subsequent Additions | 30 | |||
Gross Carrying Amount at Year-End, Land | 816 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,462 | |||
Total | 6,278 | |||
Accumulated Depreciation | 47 | |||
Kansas City, Property Two [Member] | KANSAS | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 975 | |||
Initial Cost to Company, Buildings and Improvements | 6,967 | |||
Subsequent Additions | 24 | |||
Gross Carrying Amount at Year-End, Land | 975 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 6,991 | |||
Total | 7,966 | |||
Accumulated Depreciation | 64 | |||
Kansas City, Property Three [Member] | KANSAS | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 719 | |||
Initial Cost to Company, Buildings and Improvements | 5,143 | |||
Subsequent Additions | 23 | |||
Gross Carrying Amount at Year-End, Land | 719 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,166 | |||
Total | 5,885 | |||
Accumulated Depreciation | 39 | |||
Louisville - Jefferson County [Member] | Kentucky [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,174 | |||
Initial Cost to Company, Buildings and Improvements | 3,667 | |||
Subsequent Additions | 28 | |||
Gross Carrying Amount at Year-End, Land | 2,174 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,695 | |||
Total | 5,869 | |||
Accumulated Depreciation | 370 | |||
Baton Rouge [Member] | Louisiana [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 386 | |||
Initial Cost to Company, Buildings and Improvements | 1,744 | |||
Subsequent Additions | 57 | |||
Gross Carrying Amount at Year-End, Land | 386 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,801 | |||
Total | 2,187 | |||
Accumulated Depreciation | 119 | |||
Baton Rouge - Property Two [Member] | Louisiana [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,098 | |||
Initial Cost to Company, Buildings and Improvements | 5,208 | |||
Subsequent Additions | 505 | |||
Gross Carrying Amount at Year-End, Land | 1,098 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,713 | |||
Total | 6,811 | |||
Accumulated Depreciation | 398 | |||
Baton Rouge - Property Three [Member] | Louisiana [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,203 | |||
Initial Cost to Company, Buildings and Improvements | 3,156 | |||
Subsequent Additions | 221 | |||
Gross Carrying Amount at Year-End, Land | 1,203 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,377 | |||
Total | 4,580 | |||
Accumulated Depreciation | 219 | |||
Baton Rouge - Property Four [Member] | Louisiana [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 755 | |||
Initial Cost to Company, Buildings and Improvements | 2,702 | |||
Subsequent Additions | 260 | |||
Gross Carrying Amount at Year-End, Land | 755 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,962 | |||
Total | 3,717 | |||
Accumulated Depreciation | 188 | |||
New Orleans - Metairie [Member] | Louisiana [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,287 | |||
Initial Cost to Company, Buildings and Improvements | 6,235 | |||
Subsequent Additions | 112 | |||
Gross Carrying Amount at Year-End, Land | 1,287 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 6,347 | |||
Total | 7,634 | |||
Accumulated Depreciation | 394 | |||
Shreveport - Bossier City [Member] | Louisiana [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 971 | |||
Initial Cost to Company, Buildings and Improvements | 3,474 | |||
Subsequent Additions | 52 | |||
Gross Carrying Amount at Year-End, Land | 1,549 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,936 | |||
Total | 6,485 | |||
Accumulated Depreciation | 365 | |||
Shreveport - Bossier City, Property Two [Member] | Louisiana [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 964 | |||
Initial Cost to Company, Buildings and Improvements | 3,573 | |||
Subsequent Additions | 31 | |||
Gross Carrying Amount at Year-End, Land | 964 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,604 | |||
Total | 4,568 | |||
Accumulated Depreciation | 433 | |||
Shreveport - Bossier City, Property Three [Member] | Louisiana [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 772 | |||
Initial Cost to Company, Buildings and Improvements | 2,906 | |||
Subsequent Additions | 24 | |||
Gross Carrying Amount at Year-End, Land | 772 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,930 | |||
Total | 3,702 | |||
Accumulated Depreciation | 349 | |||
Shreveport - Bossier City, Property Four [Member] | Louisiana [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 479 | |||
Initial Cost to Company, Buildings and Improvements | 1,439 | |||
Subsequent Additions | 28 | |||
Gross Carrying Amount at Year-End, Land | 479 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,467 | |||
Total | 1,946 | |||
Accumulated Depreciation | 184 | |||
Shreveport - Bossier City, Property Five [Member] | Louisiana [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 475 | |||
Initial Cost to Company, Buildings and Improvements | 854 | |||
Subsequent Additions | 42 | |||
Gross Carrying Amount at Year-End, Land | 475 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 896 | |||
Total | 1,371 | |||
Accumulated Depreciation | 135 | |||
Shreveport - Bossier City, Property Six [Member] | Louisiana [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 645 | |||
Initial Cost to Company, Buildings and Improvements | 2,004 | |||
Subsequent Additions | 6 | |||
Gross Carrying Amount at Year-End, Land | 645 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,010 | |||
Total | 2,655 | |||
Accumulated Depreciation | 28 | |||
Shreveport - Bossier City, Property Seven [Member] | Louisiana [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 654 | |||
Initial Cost to Company, Buildings and Improvements | 3,589 | |||
Subsequent Additions | 27 | |||
Gross Carrying Amount at Year-End, Land | 654 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,616 | |||
Total | 4,270 | |||
Accumulated Depreciation | 28 | |||
Shreveport - Bossier City, Property Eight [Member] | Louisiana [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 906 | |||
Initial Cost to Company, Buildings and Improvements | 3,618 | |||
Subsequent Additions | 12 | |||
Gross Carrying Amount at Year-End, Land | 906 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,630 | |||
Total | 4,536 | |||
Accumulated Depreciation | 31 | |||
Shreveport - Bossier City, Property Nine [Member] | Louisiana [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Buildings and Improvements | 5,113 | |||
Subsequent Additions | 13 | |||
Gross Carrying Amount at Year-End, Land | 0 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,126 | |||
Total | 5,126 | |||
Accumulated Depreciation | 33 | |||
Worchester [Member] | MASSACHUSETTS | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 414 | |||
Initial Cost to Company, Buildings and Improvements | 4,122 | |||
Subsequent Additions | 7 | |||
Gross Carrying Amount at Year-End, Land | 414 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,129 | |||
Total | 4,543 | |||
Accumulated Depreciation | 83 | |||
Gulfport - Biloxi - Pascagoula [Member] | Mississippi [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 645 | |||
Initial Cost to Company, Buildings and Improvements | 2,413 | |||
Subsequent Additions | 244 | |||
Gross Carrying Amount at Year-End, Land | 645 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,657 | |||
Total | 3,302 | |||
Accumulated Depreciation | 262 | |||
Meridian [Member] | Mississippi [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 224 | |||
Initial Cost to Company, Buildings and Improvements | 1,052 | |||
Subsequent Additions | 141 | |||
Gross Carrying Amount at Year-End, Land | 224 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,193 | |||
Total | 1,417 | |||
Accumulated Depreciation | 264 | |||
Meridian, Property Two [Member] | Mississippi [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 382 | |||
Initial Cost to Company, Buildings and Improvements | 803 | |||
Subsequent Additions | 189 | |||
Gross Carrying Amount at Year-End, Land | 382 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 992 | |||
Total | 1,374 | |||
Accumulated Depreciation | 224 | |||
Charlotte - Concord - Gastonia [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,871 | |||
Initial Cost to Company, Buildings and Improvements | 4,174 | |||
Subsequent Additions | 66 | |||
Gross Carrying Amount at Year-End, Land | 1,871 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,240 | |||
Total | 6,111 | |||
Accumulated Depreciation | 422 | |||
Charlotte - Concord - Gastonia, Property Two [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,108 | |||
Initial Cost to Company, Buildings and Improvements | 3,935 | |||
Subsequent Additions | 42 | |||
Gross Carrying Amount at Year-End, Land | 1,108 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,977 | |||
Total | 5,085 | |||
Accumulated Depreciation | 407 | |||
Charlotte - Concord - Gastonia, Property Three [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,301 | |||
Initial Cost to Company, Buildings and Improvements | 4,458 | |||
Subsequent Additions | 155 | |||
Gross Carrying Amount at Year-End, Land | 2,301 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,613 | |||
Total | 6,914 | |||
Accumulated Depreciation | 505 | |||
Charlotte - Concord - Gastonia, Property Four [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,862 | |||
Initial Cost to Company, Buildings and Improvements | 3,297 | |||
Subsequent Additions | 83 | |||
Gross Carrying Amount at Year-End, Land | 1,862 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,380 | |||
Total | 5,242 | |||
Accumulated Depreciation | 366 | |||
Durham - Chapel Hill [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 390 | |||
Initial Cost to Company, Buildings and Improvements | 1,025 | |||
Subsequent Additions | 188 | |||
Gross Carrying Amount at Year-End, Land | 390 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,213 | |||
Total | 1,603 | |||
Accumulated Depreciation | 343 | |||
Durham - Chapel Hill, Property Two [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 663 | |||
Initial Cost to Company, Buildings and Improvements | 2,743 | |||
Subsequent Additions | 225 | |||
Gross Carrying Amount at Year-End, Land | 663 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,968 | |||
Total | 3,631 | |||
Accumulated Depreciation | 805 | |||
Durham - Chapel Hill, Property Three [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,024 | |||
Initial Cost to Company, Buildings and Improvements | 1,383 | |||
Subsequent Additions | 386 | |||
Gross Carrying Amount at Year-End, Land | 1,024 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,769 | |||
Total | 2,793 | |||
Accumulated Depreciation | 466 | |||
Durham - Chapel Hill, Property Four [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,711 | |||
Initial Cost to Company, Buildings and Improvements | 4,180 | |||
Subsequent Additions | 21 | |||
Gross Carrying Amount at Year-End, Land | 1,711 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,201 | |||
Total | 5,912 | |||
Accumulated Depreciation | 382 | |||
Fayetteville [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 636 | |||
Initial Cost to Company, Buildings and Improvements | 2,169 | |||
Subsequent Additions | 1,659 | |||
Gross Carrying Amount at Year-End, Land | 636 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,828 | |||
Total | 4,464 | |||
Accumulated Depreciation | 986 | |||
Fayetteville, Property Two [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 151 | |||
Initial Cost to Company, Buildings and Improvements | 5,392 | |||
Subsequent Additions | 254 | |||
Gross Carrying Amount at Year-End, Land | 151 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,646 | |||
Total | 5,797 | |||
Accumulated Depreciation | 1,454 | |||
Fayetteville, Property Three [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,319 | |||
Initial Cost to Company, Buildings and Improvements | 3,444 | |||
Subsequent Additions | 20 | |||
Gross Carrying Amount at Year-End, Land | 1,319 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,464 | |||
Total | 4,783 | |||
Accumulated Depreciation | 539 | |||
Fayetteville, Property Four [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 772 | |||
Initial Cost to Company, Buildings and Improvements | 3,406 | |||
Subsequent Additions | 24 | |||
Gross Carrying Amount at Year-End, Land | 772 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,430 | |||
Total | 4,202 | |||
Accumulated Depreciation | 439 | |||
Fayetteville, Property Five [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,276 | |||
Initial Cost to Company, Buildings and Improvements | 4,527 | |||
Subsequent Additions | 25 | |||
Gross Carrying Amount at Year-End, Land | 1,276 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,552 | |||
Total | 5,828 | |||
Accumulated Depreciation | 527 | |||
Fayetteville, Property Six [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,195 | |||
Initial Cost to Company, Buildings and Improvements | 2,072 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 1,195 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,072 | |||
Total | 3,267 | |||
Accumulated Depreciation | 174 | |||
Fayetteville, Property Seven [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 830 | |||
Initial Cost to Company, Buildings and Improvements | 3,710 | |||
Subsequent Additions | 22 | |||
Gross Carrying Amount at Year-End, Land | 830 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,732 | |||
Total | 4,562 | |||
Accumulated Depreciation | 256 | |||
Greensboro - High Point [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 873 | |||
Initial Cost to Company, Buildings and Improvements | 769 | |||
Subsequent Additions | 199 | |||
Gross Carrying Amount at Year-End, Land | 873 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 968 | |||
Total | 1,841 | |||
Accumulated Depreciation | 286 | |||
Nonmetropolitan Area [Member] | MARYLAND | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 965 | |||
Initial Cost to Company, Buildings and Improvements | 6,738 | |||
Subsequent Additions | 115 | |||
Gross Carrying Amount at Year-End, Land | 965 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 6,853 | |||
Total | 7,818 | |||
Accumulated Depreciation | 135 | |||
Nonmetropolitan Area [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 530 | |||
Initial Cost to Company, Buildings and Improvements | 2,394 | |||
Subsequent Additions | 5 | |||
Gross Carrying Amount at Year-End, Land | 530 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,399 | |||
Total | 2,929 | |||
Accumulated Depreciation | 280 | |||
Nonmetropolitan Area [Member] | New Hampshire [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,053 | |||
Initial Cost to Company, Buildings and Improvements | 5,425 | |||
Subsequent Additions | 19 | |||
Gross Carrying Amount at Year-End, Land | 2,053 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,444 | |||
Total | 7,497 | |||
Accumulated Depreciation | 112 | |||
Nonmetropolitan Area, Property Two [Member] | MARYLAND | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 550 | |||
Initial Cost to Company, Buildings and Improvements | 2,409 | |||
Subsequent Additions | 76 | |||
Gross Carrying Amount at Year-End, Land | 550 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,485 | |||
Total | 3,035 | |||
Accumulated Depreciation | 37 | |||
Nonmetropolitan Area, Property Two [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 667 | |||
Initial Cost to Company, Buildings and Improvements | 2,066 | |||
Subsequent Additions | 12 | |||
Gross Carrying Amount at Year-End, Land | 667 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,078 | |||
Total | 2,745 | |||
Accumulated Depreciation | 257 | |||
Nonmetropolitan Area, Property Three [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 689 | |||
Initial Cost to Company, Buildings and Improvements | 3,153 | |||
Subsequent Additions | 27 | |||
Gross Carrying Amount at Year-End, Land | 689 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,180 | |||
Total | 3,869 | |||
Accumulated Depreciation | 323 | |||
Nonmetropolitan Area, Property Four [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,093 | |||
Initial Cost to Company, Buildings and Improvements | 2,045 | |||
Subsequent Additions | 5 | |||
Gross Carrying Amount at Year-End, Land | 2,093 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,050 | |||
Total | 4,143 | |||
Accumulated Depreciation | 46 | |||
Raleigh - Cary [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 396 | |||
Initial Cost to Company, Buildings and Improvements | 1,700 | |||
Subsequent Additions | 167 | |||
Gross Carrying Amount at Year-End, Land | 396 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,867 | |||
Total | 2,263 | |||
Accumulated Depreciation | 534 | |||
Raleigh - Cary, Property Two [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 393 | |||
Initial Cost to Company, Buildings and Improvements | 1,190 | |||
Subsequent Additions | 134 | |||
Gross Carrying Amount at Year-End, Land | 393 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,324 | |||
Total | 1,717 | |||
Accumulated Depreciation | 374 | |||
Raleigh - Cary, Property Three [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 907 | |||
Initial Cost to Company, Buildings and Improvements | 2,913 | |||
Subsequent Additions | 105 | |||
Gross Carrying Amount at Year-End, Land | 907 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,018 | |||
Total | 3,925 | |||
Accumulated Depreciation | 804 | |||
Raleigh - Cary, Property Four [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,578 | |||
Initial Cost to Company, Buildings and Improvements | 4,678 | |||
Subsequent Additions | 70 | |||
Gross Carrying Amount at Year-End, Land | 1,578 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,748 | |||
Total | 6,326 | |||
Accumulated Depreciation | 422 | |||
Wilmington [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,283 | |||
Initial Cost to Company, Buildings and Improvements | 1,747 | |||
Subsequent Additions | 94 | |||
Gross Carrying Amount at Year-End, Land | 1,283 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,841 | |||
Total | 3,124 | |||
Accumulated Depreciation | 499 | |||
Wilmington, Property Two [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 860 | |||
Initial Cost to Company, Buildings and Improvements | 828 | |||
Subsequent Additions | 71 | |||
Gross Carrying Amount at Year-End, Land | 860 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 899 | |||
Total | 1,759 | |||
Accumulated Depreciation | 245 | |||
Wilmington, Property Three [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,881 | |||
Initial Cost to Company, Buildings and Improvements | 4,618 | |||
Subsequent Additions | 35 | |||
Gross Carrying Amount at Year-End, Land | 1,881 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,653 | |||
Total | 6,534 | |||
Accumulated Depreciation | 438 | |||
Winston - Salem [Member] | North Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 362 | |||
Initial Cost to Company, Buildings and Improvements | 529 | |||
Subsequent Additions | 74 | |||
Gross Carrying Amount at Year-End, Land | 362 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 603 | |||
Total | 965 | |||
Accumulated Depreciation | 169 | |||
Concord [Member] | New Hampshire [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 632 | |||
Initial Cost to Company, Buildings and Improvements | 1,040 | |||
Subsequent Additions | 22 | |||
Gross Carrying Amount at Year-End, Land | 632 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,062 | |||
Total | 1,694 | |||
Accumulated Depreciation | 360 | |||
Concord, Property Two [Member] | New Hampshire [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 197 | |||
Initial Cost to Company, Buildings and Improvements | 901 | |||
Subsequent Additions | 19 | |||
Gross Carrying Amount at Year-End, Land | 197 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 920 | |||
Total | 1,117 | |||
Accumulated Depreciation | 281 | |||
Dover - Durham [Member] | New Hampshire [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,488 | |||
Initial Cost to Company, Buildings and Improvements | 7,300 | |||
Subsequent Additions | 44 | |||
Gross Carrying Amount at Year-End, Land | 1,488 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 7,344 | |||
Total | 8,832 | |||
Accumulated Depreciation | 1,025 | |||
Boston - Cambridge - Quincy [Member] | New Hampshire [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 899 | |||
Initial Cost to Company, Buildings and Improvements | 3,863 | |||
Subsequent Additions | 38 | |||
Gross Carrying Amount at Year-End, Land | 899 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,901 | |||
Total | 4,800 | |||
Accumulated Depreciation | 308 | |||
Manchester - Nashua [Member] | New Hampshire [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,786 | |||
Initial Cost to Company, Buildings and Improvements | 6,100 | |||
Subsequent Additions | 19 | |||
Gross Carrying Amount at Year-End, Land | 1,786 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 6,119 | |||
Total | 7,905 | |||
Accumulated Depreciation | 411 | |||
Manchester - Nashua - Property Two [Member] | New Hampshire [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,395 | |||
Initial Cost to Company, Buildings and Improvements | 5,573 | |||
Subsequent Additions | 29 | |||
Gross Carrying Amount at Year-End, Land | 1,395 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,602 | |||
Total | 6,997 | |||
Accumulated Depreciation | 347 | |||
Greater New Hampshire [Member] | New Hampshire [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,528 | |||
Initial Cost to Company, Buildings and Improvements | 2,686 | |||
Subsequent Additions | 14 | |||
Gross Carrying Amount at Year-End, Land | 1,528 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,700 | |||
Total | 4,228 | |||
Accumulated Depreciation | 250 | |||
Rockingham County - Strafford County [Member] | New Hampshire [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,597 | |||
Initial Cost to Company, Buildings and Improvements | 3,138 | |||
Subsequent Additions | 66 | |||
Gross Carrying Amount at Year-End, Land | 1,597 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,204 | |||
Total | 4,801 | |||
Accumulated Depreciation | 249 | |||
Rockingham County - Strafford County - Property Two [Member] | New Hampshire [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,445 | |||
Initial Cost to Company, Buildings and Improvements | 2,957 | |||
Subsequent Additions | 58 | |||
Gross Carrying Amount at Year-End, Land | 1,445 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,015 | |||
Total | 4,460 | |||
Accumulated Depreciation | 248 | |||
Albuquerque [Member] | NEW MEXICO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,089 | |||
Initial Cost to Company, Buildings and Improvements | 2,845 | |||
Subsequent Additions | 157 | |||
Gross Carrying Amount at Year-End, Land | 1,089 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,002 | |||
Total | 4,091 | |||
Accumulated Depreciation | 233 | |||
Albuquerque - Property Two [Member] | NEW MEXICO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 854 | |||
Initial Cost to Company, Buildings and Improvements | 3,436 | |||
Subsequent Additions | 81 | |||
Gross Carrying Amount at Year-End, Land | 854 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,517 | |||
Total | 4,371 | |||
Accumulated Depreciation | 181 | |||
Las Vegas - Henderson - Paradise [Member] | Nevada [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,757 | |||
Initial Cost to Company, Buildings and Improvements | 4,223 | |||
Subsequent Additions | 54 | |||
Gross Carrying Amount at Year-End, Land | 1,757 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,277 | |||
Total | 6,034 | |||
Accumulated Depreciation | 243 | |||
Las Vegas - Henderson - Paradise - Property Two [Member] | Nevada [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,121 | |||
Initial Cost to Company, Buildings and Improvements | 1,510 | |||
Subsequent Additions | 51 | |||
Gross Carrying Amount at Year-End, Land | 1,121 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,561 | |||
Total | 2,682 | |||
Accumulated Depreciation | 113 | |||
Las Vegas - Henderson - Paradise - Property Three [Member] | Nevada [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,160 | |||
Initial Cost to Company, Buildings and Improvements | 4,544 | |||
Subsequent Additions | 187 | |||
Gross Carrying Amount at Year-End, Land | 2,160 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,731 | |||
Total | 6,891 | |||
Accumulated Depreciation | 179 | |||
Las Vegas - Paradise [Member] | Nevada [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,169 | |||
Initial Cost to Company, Buildings and Improvements | 3,616 | |||
Subsequent Additions | 83 | |||
Gross Carrying Amount at Year-End, Land | 1,169 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,699 | |||
Total | 4,868 | |||
Accumulated Depreciation | 1,009 | |||
Las Vegas - Paradise, Property Two [Member] | Nevada [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 389 | |||
Initial Cost to Company, Buildings and Improvements | 2,850 | |||
Subsequent Additions | 66 | |||
Gross Carrying Amount at Year-End, Land | 389 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,916 | |||
Total | 3,305 | |||
Accumulated Depreciation | 474 | |||
Las Vegas - Paradise, Property Three [Member] | Nevada [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 794 | |||
Initial Cost to Company, Buildings and Improvements | 1,406 | |||
Subsequent Additions | 86 | |||
Gross Carrying Amount at Year-End, Land | 794 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,492 | |||
Total | 2,286 | |||
Accumulated Depreciation | 309 | |||
Las Vegas - Paradise, Property Four [Member] | Nevada [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,362 | |||
Initial Cost to Company, Buildings and Improvements | 8,445 | |||
Subsequent Additions | 60 | |||
Gross Carrying Amount at Year-End, Land | 2,362 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 8,505 | |||
Total | 10,867 | |||
Accumulated Depreciation | 97 | |||
Las Vegas - Paradise, Property Five [Member] | Nevada [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,157 | |||
Initial Cost to Company, Buildings and Improvements | 2,753 | |||
Subsequent Additions | 13 | |||
Gross Carrying Amount at Year-End, Land | 2,157 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,766 | |||
Total | 4,923 | |||
Accumulated Depreciation | 46 | |||
Las Vegas - Paradise, Property Six [Member] | Nevada [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,296 | |||
Initial Cost to Company, Buildings and Improvements | 8,039 | |||
Subsequent Additions | 82 | |||
Gross Carrying Amount at Year-End, Land | 1,296 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 8,121 | |||
Total | 9,417 | |||
Accumulated Depreciation | 85 | |||
Las Vegas - Paradise, Property Seven [Member] | Nevada [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 828 | |||
Initial Cost to Company, Buildings and Improvements | 2,030 | |||
Subsequent Additions | 120 | |||
Gross Carrying Amount at Year-End, Land | 828 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,150 | |||
Total | 2,978 | |||
Accumulated Depreciation | 33 | |||
Las Vegas - Paradise, Property Eight [Member] | Nevada [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 3,864 | |||
Initial Cost to Company, Buildings and Improvements | 2,870 | |||
Subsequent Additions | 125 | |||
Gross Carrying Amount at Year-End, Land | 3,864 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,995 | |||
Total | 6,859 | |||
Accumulated Depreciation | 65 | |||
Canton - Massillon [Member] | OHIO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 83 | |||
Initial Cost to Company, Buildings and Improvements | 2,911 | |||
Subsequent Additions | 19 | |||
Gross Carrying Amount at Year-End, Land | 83 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,930 | |||
Total | 3,013 | |||
Accumulated Depreciation | 132 | |||
Canton - Massillon - Property Two [Member] | OHIO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 292 | |||
Initial Cost to Company, Buildings and Improvements | 2,107 | |||
Subsequent Additions | 32 | |||
Gross Carrying Amount at Year-End, Land | 292 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,139 | |||
Total | 2,431 | |||
Accumulated Depreciation | 199 | |||
Cleveland - Elyria [Member] | OHIO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 169 | |||
Initial Cost to Company, Buildings and Improvements | 2,702 | |||
Subsequent Additions | 24 | |||
Gross Carrying Amount at Year-End, Land | 169 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,726 | |||
Total | 2,895 | |||
Accumulated Depreciation | 116 | |||
Cleveland - Elyria - Property Two [Member] | OHIO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 193 | |||
Initial Cost to Company, Buildings and Improvements | 3,323 | |||
Subsequent Additions | 22 | |||
Gross Carrying Amount at Year-End, Land | 193 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,345 | |||
Total | 3,538 | |||
Accumulated Depreciation | 128 | |||
Cleveland - Elyria - Property Three [Member] | OHIO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 490 | |||
Initial Cost to Company, Buildings and Improvements | 1,050 | |||
Subsequent Additions | 23 | |||
Gross Carrying Amount at Year-End, Land | 490 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,073 | |||
Total | 1,563 | |||
Accumulated Depreciation | 73 | |||
Cleveland - Elyria - Property Four [Member] | OHIO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 845 | |||
Initial Cost to Company, Buildings and Improvements | 4,916 | |||
Subsequent Additions | 29 | |||
Gross Carrying Amount at Year-End, Land | 845 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,945 | |||
Total | 5,790 | |||
Accumulated Depreciation | 223 | |||
Cleveland - Elyria - Property Five [Member] | OHIO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 842 | |||
Initial Cost to Company, Buildings and Improvements | 2,044 | |||
Subsequent Additions | 23 | |||
Gross Carrying Amount at Year-End, Land | 842 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,067 | |||
Total | 2,909 | |||
Accumulated Depreciation | 148 | |||
Oklahoma City [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 388 | |||
Initial Cost to Company, Buildings and Improvements | 3,142 | |||
Subsequent Additions | 133 | |||
Gross Carrying Amount at Year-End, Land | 388 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,275 | |||
Total | 3,663 | |||
Accumulated Depreciation | 920 | |||
Oklahoma City, Property Two [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 213 | |||
Initial Cost to Company, Buildings and Improvements | 1,383 | |||
Subsequent Additions | 76 | |||
Gross Carrying Amount at Year-End, Land | 213 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,459 | |||
Total | 1,672 | |||
Accumulated Depreciation | 406 | |||
Oklahoma City, Property Three [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 561 | |||
Initial Cost to Company, Buildings and Improvements | 2,355 | |||
Subsequent Additions | 434 | |||
Gross Carrying Amount at Year-End, Land | 561 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,789 | |||
Total | 3,350 | |||
Accumulated Depreciation | 850 | |||
Oklahoma City, Property Four [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 349 | |||
Initial Cost to Company, Buildings and Improvements | 2,368 | |||
Subsequent Additions | 443 | |||
Gross Carrying Amount at Year-End, Land | 349 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,811 | |||
Total | 3,160 | |||
Accumulated Depreciation | 836 | |||
Oklahoma City, Property Five [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 466 | |||
Initial Cost to Company, Buildings and Improvements | 2,544 | |||
Subsequent Additions | 106 | |||
Gross Carrying Amount at Year-End, Land | 466 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,650 | |||
Total | 3,116 | |||
Accumulated Depreciation | 730 | |||
Oklahoma City, Property Six [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 144 | |||
Initial Cost to Company, Buildings and Improvements | 1,576 | |||
Subsequent Additions | 148 | |||
Gross Carrying Amount at Year-End, Land | 144 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,724 | |||
Total | 1,868 | |||
Accumulated Depreciation | 515 | |||
Oklahoma City, Property Seven [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 168 | |||
Initial Cost to Company, Buildings and Improvements | 1,696 | |||
Subsequent Additions | 245 | |||
Gross Carrying Amount at Year-End, Land | 168 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,941 | |||
Total | 2,109 | |||
Accumulated Depreciation | 565 | |||
Oklahoma City, Property Eight [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 220 | |||
Initial Cost to Company, Buildings and Improvements | 1,606 | |||
Subsequent Additions | 116 | |||
Gross Carrying Amount at Year-End, Land | 220 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,722 | |||
Total | 1,942 | |||
Accumulated Depreciation | 475 | |||
Oklahoma City, Property Nine [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 376 | |||
Initial Cost to Company, Buildings and Improvements | 1,460 | |||
Subsequent Additions | 36 | |||
Gross Carrying Amount at Year-End, Land | 376 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,496 | |||
Total | 1,872 | |||
Accumulated Depreciation | 405 | |||
Oklahoma City, Property Ten [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 337 | |||
Initial Cost to Company, Buildings and Improvements | 2,788 | |||
Subsequent Additions | 89 | |||
Gross Carrying Amount at Year-End, Land | 337 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,877 | |||
Total | 3,214 | |||
Accumulated Depreciation | 784 | |||
Oklahoma City, Property Eleven [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 814 | |||
Initial Cost to Company, Buildings and Improvements | 3,161 | |||
Subsequent Additions | 1,169 | |||
Gross Carrying Amount at Year-End, Land | 814 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,330 | |||
Total | 5,144 | |||
Accumulated Depreciation | 843 | |||
Oklahoma City, Property Twelve [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 590 | |||
Initial Cost to Company, Buildings and Improvements | 1,502 | |||
Subsequent Additions | 1,751 | |||
Gross Carrying Amount at Year-End, Land | 590 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,253 | |||
Total | 3,843 | |||
Accumulated Depreciation | 801 | |||
Oklahoma City, Property Thirteen [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 205 | |||
Initial Cost to Company, Buildings and Improvements | 1,772 | |||
Subsequent Additions | 451 | |||
Gross Carrying Amount at Year-End, Land | 205 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,223 | |||
Total | 2,428 | |||
Accumulated Depreciation | 642 | |||
Oklahoma City - Property Fourteen [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 701 | |||
Initial Cost to Company, Buildings and Improvements | 4,926 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 701 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,926 | |||
Total | 5,627 | |||
Accumulated Depreciation | 210 | |||
Oklahoma City - Property Fifteen [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,082 | |||
Initial Cost to Company, Buildings and Improvements | 4,218 | |||
Subsequent Additions | 10 | |||
Gross Carrying Amount at Year-End, Land | 1,082 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,228 | |||
Total | 5,310 | |||
Accumulated Depreciation | 292 | |||
Oklahoma City - Property Sixteen [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 736 | |||
Initial Cost to Company, Buildings and Improvements | 2,925 | |||
Subsequent Additions | 3 | |||
Gross Carrying Amount at Year-End, Land | 736 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,928 | |||
Total | 3,664 | |||
Accumulated Depreciation | 247 | |||
Oklahoma City - Property Seventeen [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,135 | |||
Initial Cost to Company, Buildings and Improvements | 3,759 | |||
Subsequent Additions | 4 | |||
Gross Carrying Amount at Year-End, Land | 1,135 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,763 | |||
Total | 4,898 | |||
Accumulated Depreciation | 275 | |||
Tulsa [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 548 | |||
Initial Cost to Company, Buildings and Improvements | 1,892 | |||
Subsequent Additions | 73 | |||
Gross Carrying Amount at Year-End, Land | 548 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,965 | |||
Total | 2,513 | |||
Accumulated Depreciation | 529 | |||
Tulsa, Property Two [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 764 | |||
Initial Cost to Company, Buildings and Improvements | 1,386 | |||
Subsequent Additions | 372 | |||
Gross Carrying Amount at Year-End, Land | 764 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,758 | |||
Total | 2,522 | |||
Accumulated Depreciation | 494 | |||
Tulsa, Property Three [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,305 | |||
Initial Cost to Company, Buildings and Improvements | 2,533 | |||
Subsequent Additions | 112 | |||
Gross Carrying Amount at Year-End, Land | 1,305 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,645 | |||
Total | 3,950 | |||
Accumulated Depreciation | 720 | |||
Tulsa, Property Four [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 940 | |||
Initial Cost to Company, Buildings and Improvements | 2,196 | |||
Subsequent Additions | 223 | |||
Gross Carrying Amount at Year-End, Land | 940 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,419 | |||
Total | 3,359 | |||
Accumulated Depreciation | 665 | |||
Tulsa, Property Five [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 59 | |||
Initial Cost to Company, Buildings and Improvements | 466 | |||
Subsequent Additions | 300 | |||
Gross Carrying Amount at Year-End, Land | 59 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 766 | |||
Total | 825 | |||
Accumulated Depreciation | 205 | |||
Tulsa, Property Six [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 426 | |||
Initial Cost to Company, Buildings and Improvements | 1,424 | |||
Subsequent Additions | 222 | |||
Gross Carrying Amount at Year-End, Land | 426 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,646 | |||
Total | 2,072 | |||
Accumulated Depreciation | 530 | |||
Tulsa, Property Seven [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 250 | |||
Initial Cost to Company, Buildings and Improvements | 667 | |||
Subsequent Additions | 148 | |||
Gross Carrying Amount at Year-End, Land | 250 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 815 | |||
Total | 1,065 | |||
Accumulated Depreciation | 246 | |||
Tulsa, Property Eight [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 944 | |||
Initial Cost to Company, Buildings and Improvements | 2,085 | |||
Subsequent Additions | 55 | |||
Gross Carrying Amount at Year-End, Land | 944 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,140 | |||
Total | 3,084 | |||
Accumulated Depreciation | 540 | |||
Tulsa, Property Nine [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 892 | |||
Initial Cost to Company, Buildings and Improvements | 2,421 | |||
Subsequent Additions | 29 | |||
Gross Carrying Amount at Year-End, Land | 892 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,450 | |||
Total | 3,342 | |||
Accumulated Depreciation | 615 | |||
Tulsa, Property Ten [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 492 | |||
Initial Cost to Company, Buildings and Improvements | 1,343 | |||
Subsequent Additions | 65 | |||
Gross Carrying Amount at Year-End, Land | 492 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,408 | |||
Total | 1,900 | |||
Accumulated Depreciation | 356 | |||
Tulsa, Property Eleven [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 505 | |||
Initial Cost to Company, Buildings and Improvements | 1,346 | |||
Subsequent Additions | 724 | |||
Gross Carrying Amount at Year-End, Land | 505 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,070 | |||
Total | 2,575 | |||
Accumulated Depreciation | 669 | |||
Tulsa, Property Twelve [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 466 | |||
Initial Cost to Company, Buildings and Improvements | 1,270 | |||
Subsequent Additions | 102 | |||
Gross Carrying Amount at Year-End, Land | 466 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,372 | |||
Total | 1,838 | |||
Accumulated Depreciation | 356 | |||
Tulsa, Property Thirteen [Member] | Oklahoma [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,103 | |||
Initial Cost to Company, Buildings and Improvements | 4,431 | |||
Subsequent Additions | 44 | |||
Gross Carrying Amount at Year-End, Land | 1,103 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,475 | |||
Total | 5,578 | |||
Accumulated Depreciation | 1,316 | |||
Bend [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 295 | |||
Initial Cost to Company, Buildings and Improvements | 1,369 | |||
Subsequent Additions | 7 | |||
Gross Carrying Amount at Year-End, Land | 295 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,376 | |||
Total | 1,671 | |||
Accumulated Depreciation | 382 | |||
Bend, Property Two [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,692 | |||
Initial Cost to Company, Buildings and Improvements | 2,410 | |||
Subsequent Additions | 29 | |||
Gross Carrying Amount at Year-End, Land | 1,692 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,439 | |||
Total | 4,131 | |||
Accumulated Depreciation | 722 | |||
Bend, Property Three [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 571 | |||
Initial Cost to Company, Buildings and Improvements | 1,917 | |||
Subsequent Additions | 3 | |||
Gross Carrying Amount at Year-End, Land | 571 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,920 | |||
Total | 2,491 | |||
Accumulated Depreciation | 353 | |||
Bend, Property Four [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 397 | |||
Initial Cost to Company, Buildings and Improvements | 1,180 | |||
Subsequent Additions | 99 | |||
Gross Carrying Amount at Year-End, Land | 397 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,279 | |||
Total | 1,676 | |||
Accumulated Depreciation | 369 | |||
Bend, Property Five [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 690 | |||
Initial Cost to Company, Buildings and Improvements | 1,983 | |||
Subsequent Additions | 77 | |||
Gross Carrying Amount at Year-End, Land | 690 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,060 | |||
Total | 2,750 | |||
Accumulated Depreciation | 363 | |||
Bend, Property Six [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 722 | |||
Initial Cost to Company, Buildings and Improvements | 2,151 | |||
Subsequent Additions | 4 | |||
Gross Carrying Amount at Year-End, Land | 722 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,155 | |||
Total | 2,877 | |||
Accumulated Depreciation | 346 | |||
Bend, Property Seven [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 800 | |||
Initial Cost to Company, Buildings and Improvements | 2,836 | |||
Subsequent Additions | 6 | |||
Gross Carrying Amount at Year-End, Land | 800 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,842 | |||
Total | 3,642 | |||
Accumulated Depreciation | 458 | |||
Bend - Redmond [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,688 | |||
Initial Cost to Company, Buildings and Improvements | 10,731 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 2,688 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 10,731 | |||
Total | 13,419 | |||
Accumulated Depreciation | 684 | |||
Corvallis [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 382 | |||
Initial Cost to Company, Buildings and Improvements | 1,465 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 382 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,465 | |||
Total | 1,847 | |||
Accumulated Depreciation | 310 | |||
Eugene - Springfield [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 710 | |||
Initial Cost to Company, Buildings and Improvements | 1,539 | |||
Subsequent Additions | 62 | |||
Gross Carrying Amount at Year-End, Land | 710 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,601 | |||
Total | 2,311 | |||
Accumulated Depreciation | 406 | |||
Eugene - Springfield, Property Two [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 842 | |||
Initial Cost to Company, Buildings and Improvements | 1,674 | |||
Subsequent Additions | 32 | |||
Gross Carrying Amount at Year-End, Land | 842 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,706 | |||
Total | 2,548 | |||
Accumulated Depreciation | 456 | |||
Eugene - Springfield, Property Three [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 414 | |||
Initial Cost to Company, Buildings and Improvements | 1,990 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 414 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,990 | |||
Total | 2,404 | |||
Accumulated Depreciation | 313 | |||
Eugene - Springfield, Property Four [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,149 | |||
Initial Cost to Company, Buildings and Improvements | 2,061 | |||
Subsequent Additions | 37 | |||
Gross Carrying Amount at Year-End, Land | 1,149 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,098 | |||
Total | 3,247 | |||
Accumulated Depreciation | 404 | |||
Eugene - Springfield, Property Five [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 728 | |||
Initial Cost to Company, Buildings and Improvements | 3,230 | |||
Subsequent Additions | 105 | |||
Gross Carrying Amount at Year-End, Land | 728 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,335 | |||
Total | 4,063 | |||
Accumulated Depreciation | 458 | |||
Eugene - Springfield, Property Six [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,601 | |||
Initial Cost to Company, Buildings and Improvements | 2,686 | |||
Subsequent Additions | 87 | |||
Gross Carrying Amount at Year-End, Land | 1,601 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,773 | |||
Total | 4,374 | |||
Accumulated Depreciation | 649 | |||
Hood River [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 997 | |||
Initial Cost to Company, Buildings and Improvements | 1,874 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 997 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,874 | |||
Total | 2,871 | |||
Accumulated Depreciation | 242 | |||
Portland - Vancouver - Hillsboro [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 851 | |||
Initial Cost to Company, Buildings and Improvements | 2,063 | |||
Subsequent Additions | 4 | |||
Gross Carrying Amount at Year-End, Land | 851 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,067 | |||
Total | 2,918 | |||
Accumulated Depreciation | 352 | |||
Portland - Vancouver - Hillsboro [Member] | Washington [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 421 | |||
Initial Cost to Company, Buildings and Improvements | 2,313 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 421 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,313 | |||
Total | 2,734 | |||
Accumulated Depreciation | 390 | |||
Portland - Vancouver - Hillsboro, Property Two [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,704 | |||
Initial Cost to Company, Buildings and Improvements | 2,313 | |||
Subsequent Additions | 99 | |||
Gross Carrying Amount at Year-End, Land | 1,704 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,412 | |||
Total | 4,116 | |||
Accumulated Depreciation | 568 | |||
Portland - Vancouver - Hillsboro, Property Two [Member] | Washington [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,903 | |||
Initial Cost to Company, Buildings and Improvements | 2,239 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 1,903 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,239 | |||
Total | 4,142 | |||
Accumulated Depreciation | 482 | |||
Portland - Vancouver - Hillsboro, Property Three [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,254 | |||
Initial Cost to Company, Buildings and Improvements | 2,787 | |||
Subsequent Additions | 12 | |||
Gross Carrying Amount at Year-End, Land | 1,254 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,799 | |||
Total | 4,053 | |||
Accumulated Depreciation | 492 | |||
Portland - Vancouver - Hillsboro, Property Three [Member] | Washington [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 923 | |||
Initial Cost to Company, Buildings and Improvements | 2,821 | |||
Subsequent Additions | 6 | |||
Gross Carrying Amount at Year-End, Land | 923 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,827 | |||
Total | 3,750 | |||
Accumulated Depreciation | 467 | |||
Portland - Vancouver - Hillsboro, Property Four [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,808 | |||
Initial Cost to Company, Buildings and Improvements | 4,437 | |||
Subsequent Additions | 19 | |||
Gross Carrying Amount at Year-End, Land | 2,808 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,456 | |||
Total | 7,264 | |||
Accumulated Depreciation | 1,022 | |||
Portland - Vancouver - Hillsboro, Property Four [Member] | Washington [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 935 | |||
Initial Cost to Company, Buildings and Improvements | 2,045 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 935 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,045 | |||
Total | 2,980 | |||
Accumulated Depreciation | 291 | |||
Portland - Vancouver - Hillsboro, Property Five [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,015 | |||
Initial Cost to Company, Buildings and Improvements | 2,184 | |||
Subsequent Additions | 3 | |||
Gross Carrying Amount at Year-End, Land | 1,015 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,187 | |||
Total | 3,202 | |||
Accumulated Depreciation | 408 | |||
Portland - Vancouver - Hillsboro, Property Five [Member] | Washington [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 478 | |||
Initial Cost to Company, Buildings and Improvements | 2,158 | |||
Subsequent Additions | 117 | |||
Gross Carrying Amount at Year-End, Land | 478 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,275 | |||
Total | 2,753 | |||
Accumulated Depreciation | 355 | |||
Portland - Vancouver - Hillsboro, Property Six [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,077 | |||
Initial Cost to Company, Buildings and Improvements | 3,008 | |||
Subsequent Additions | 139 | |||
Gross Carrying Amount at Year-End, Land | 1,077 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,147 | |||
Total | 4,224 | |||
Accumulated Depreciation | 468 | |||
Portland - Vancouver - Hillsboro, Property Six [Member] | Washington [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,023 | |||
Initial Cost to Company, Buildings and Improvements | 3,484 | |||
Subsequent Additions | 21 | |||
Gross Carrying Amount at Year-End, Land | 2,023 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,505 | |||
Total | 5,528 | |||
Accumulated Depreciation | 556 | |||
Portland - Vancouver - Hillsboro, Property Seven [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,072 | |||
Initial Cost to Company, Buildings and Improvements | 2,629 | |||
Subsequent Additions | 18 | |||
Gross Carrying Amount at Year-End, Land | 1,072 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,647 | |||
Total | 3,719 | |||
Accumulated Depreciation | 557 | |||
Portland - Vancouver - Hillsboro, Property Seven [Member] | Washington [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,870 | |||
Initial Cost to Company, Buildings and Improvements | 4,632 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 1,870 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,632 | |||
Total | 6,502 | |||
Accumulated Depreciation | 181 | |||
Portland - Vancouver - Hillsboro, Property Eight [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,217 | |||
Initial Cost to Company, Buildings and Improvements | 3,766 | |||
Subsequent Additions | 15 | |||
Gross Carrying Amount at Year-End, Land | 2,217 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,781 | |||
Total | 5,998 | |||
Accumulated Depreciation | 626 | |||
Portland - Vancouver - Hillsboro, Property Nine [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,334 | |||
Initial Cost to Company, Buildings and Improvements | 2,324 | |||
Subsequent Additions | 126 | |||
Gross Carrying Amount at Year-End, Land | 1,334 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,450 | |||
Total | 3,784 | |||
Accumulated Depreciation | 486 | |||
Portland - Vancouver - Hillsboro, Property Ten [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 996 | |||
Initial Cost to Company, Buildings and Improvements | 2,525 | |||
Subsequent Additions | 89 | |||
Gross Carrying Amount at Year-End, Land | 996 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,614 | |||
Total | 3,610 | |||
Accumulated Depreciation | 500 | |||
Portland - Vancouver - Hillsboro, Property Eleven [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,496 | |||
Initial Cost to Company, Buildings and Improvements | 3,372 | |||
Subsequent Additions | 79 | |||
Gross Carrying Amount at Year-End, Land | 1,496 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,451 | |||
Total | 4,947 | |||
Accumulated Depreciation | 535 | |||
Portland - Vancouver - Hillsboro, Property Twelve [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 954 | |||
Initial Cost to Company, Buildings and Improvements | 3,026 | |||
Subsequent Additions | 41 | |||
Gross Carrying Amount at Year-End, Land | 954 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,067 | |||
Total | 4,021 | |||
Accumulated Depreciation | 436 | |||
Portland - Vancouver - Hillsboro, Property Thirteen [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,627 | |||
Initial Cost to Company, Buildings and Improvements | 2,388 | |||
Subsequent Additions | 70 | |||
Gross Carrying Amount at Year-End, Land | 1,627 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,458 | |||
Total | 4,085 | |||
Accumulated Depreciation | 429 | |||
Portland - Vancouver - Hillsboro, Property Fourteen [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,509 | |||
Initial Cost to Company, Buildings and Improvements | 4,200 | |||
Subsequent Additions | 66 | |||
Gross Carrying Amount at Year-End, Land | 2,509 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,266 | |||
Total | 6,775 | |||
Accumulated Depreciation | 704 | |||
Portland - Vancouver - Hillsboro, Property Fifteen [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 787 | |||
Initial Cost to Company, Buildings and Improvements | 1,915 | |||
Subsequent Additions | 62 | |||
Gross Carrying Amount at Year-End, Land | 787 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,977 | |||
Total | 2,764 | |||
Accumulated Depreciation | 297 | |||
Portland - Vancouver - Hillsboro, Property Sixteen [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,703 | |||
Initial Cost to Company, Buildings and Improvements | 4,729 | |||
Subsequent Additions | 9 | |||
Gross Carrying Amount at Year-End, Land | 1,703 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,738 | |||
Total | 6,441 | |||
Accumulated Depreciation | 635 | |||
Portland - Vancouver - Hillsboro, Property Seventeen [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 738 | |||
Initial Cost to Company, Buildings and Improvements | 2,483 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 738 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,483 | |||
Total | 3,221 | |||
Accumulated Depreciation | 334 | |||
Portland - Vancouver - Hillsboro, Property Eighteen [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,690 | |||
Initial Cost to Company, Buildings and Improvements | 2,995 | |||
Subsequent Additions | 39 | |||
Gross Carrying Amount at Year-End, Land | 1,690 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,034 | |||
Total | 4,724 | |||
Accumulated Depreciation | 324 | |||
Portland - Vancouver - Hillsboro, Property Nineteen [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,200 | |||
Initial Cost to Company, Buildings and Improvements | 9,531 | |||
Subsequent Additions | 204 | |||
Gross Carrying Amount at Year-End, Land | 1,200 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 9,735 | |||
Total | 10,935 | |||
Accumulated Depreciation | 1,771 | |||
Portland - Vancouver - Hillsboro, Property Twenty [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 401 | |||
Initial Cost to Company, Buildings and Improvements | 3,718 | |||
Subsequent Additions | 80 | |||
Gross Carrying Amount at Year-End, Land | 401 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,798 | |||
Total | 4,199 | |||
Accumulated Depreciation | 556 | |||
Portland - Vancouver - Hillsboro, Property Twenty One [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,160 | |||
Initial Cost to Company, Buildings and Improvements | 3,291 | |||
Subsequent Additions | 21 | |||
Gross Carrying Amount at Year-End, Land | 1,160 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,312 | |||
Total | 4,472 | |||
Accumulated Depreciation | 470 | |||
Portland - Vancouver - Hillsboro, Property Twenty Two [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,435 | |||
Initial Cost to Company, Buildings and Improvements | 4,342 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 1,435 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,342 | |||
Total | 5,777 | |||
Accumulated Depreciation | 622 | |||
Portland - Vancouver - Hillsboro, Property Twenty Three [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,478 | |||
Initial Cost to Company, Buildings and Improvements | 4,127 | |||
Subsequent Additions | 6 | |||
Gross Carrying Amount at Year-End, Land | 1,478 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,133 | |||
Total | 5,611 | |||
Accumulated Depreciation | 585 | |||
Portland - Vancouver - Hillsboro, Property Twenty Four [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,402 | |||
Initial Cost to Company, Buildings and Improvements | 3,196 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 1,402 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,196 | |||
Total | 4,598 | |||
Accumulated Depreciation | 434 | |||
Portland - Vancouver - Hillsboro, Property Twenty Five [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 3,538 | |||
Initial Cost to Company, Buildings and Improvements | 4,938 | |||
Subsequent Additions | 6 | |||
Gross Carrying Amount at Year-End, Land | 3,398 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,984 | |||
Total | 7,382 | |||
Accumulated Depreciation | 569 | |||
Portland - Vancouver - Hillsboro, Property Twenty Six [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,501 | |||
Initial Cost to Company, Buildings and Improvements | 3,136 | |||
Subsequent Additions | 6 | |||
Gross Carrying Amount at Year-End, Land | 1,501 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,142 | |||
Total | 4,643 | |||
Accumulated Depreciation | 445 | |||
Portland - Vancouver - Hillsboro, Property Twenty Seven [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,746 | |||
Initial Cost to Company, Buildings and Improvements | 3,393 | |||
Subsequent Additions | 11 | |||
Gross Carrying Amount at Year-End, Land | 1,746 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,404 | |||
Total | 5,150 | |||
Accumulated Depreciation | 482 | |||
Portland - Vancouver - Hillsboro, Property Twenty Eight [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,014 | |||
Initial Cost to Company, Buildings and Improvements | 3,017 | |||
Subsequent Additions | 11 | |||
Gross Carrying Amount at Year-End, Land | 1,014 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,028 | |||
Total | 4,042 | |||
Accumulated Depreciation | 445 | |||
Portland - Vancouver - Hillsboro, Property Twenty Nine [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,202 | |||
Initial Cost to Company, Buildings and Improvements | 3,477 | |||
Subsequent Additions | 113 | |||
Gross Carrying Amount at Year-End, Land | 2,202 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,590 | |||
Total | 5,792 | |||
Accumulated Depreciation | 521 | |||
Portland - Vancouver - Hillsboro, Property Thirty [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,764 | |||
Initial Cost to Company, Buildings and Improvements | 7,360 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 1,764 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 7,360 | |||
Total | 9,124 | |||
Accumulated Depreciation | 829 | |||
Portland - Vancouver - Hillsboro, Property Thirty One [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,670 | |||
Initial Cost to Company, Buildings and Improvements | 8,709 | |||
Subsequent Additions | 53 | |||
Gross Carrying Amount at Year-End, Land | 2,670 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 8,762 | |||
Total | 11,432 | |||
Accumulated Depreciation | 561 | |||
Portland - Vancouver - Hillsboro, Property Thirty Two [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 410 | |||
Initial Cost to Company, Buildings and Improvements | 622 | |||
Subsequent Additions | 179 | |||
Gross Carrying Amount at Year-End, Land | 410 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 801 | |||
Total | 1,211 | |||
Accumulated Depreciation | 48 | |||
Portland - Vancouver - Hillsboro - Property Thirty Three [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,258 | |||
Initial Cost to Company, Buildings and Improvements | 6,298 | |||
Subsequent Additions | 3 | |||
Gross Carrying Amount at Year-End, Land | 1,258 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 6,301 | |||
Total | 7,559 | |||
Accumulated Depreciation | 208 | |||
Portland - Vancouver - Hillsboro - Property Thirty Four [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,334 | |||
Initial Cost to Company, Buildings and Improvements | 7,726 | |||
Subsequent Additions | 33 | |||
Gross Carrying Amount at Year-End, Land | 2,334 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 7,759 | |||
Total | 10,093 | |||
Accumulated Depreciation | 298 | |||
Portland - Vancouver - Hillsboro - Property Thirty Five [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 771 | |||
Initial Cost to Company, Buildings and Improvements | 4,121 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 771 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,121 | |||
Total | 4,892 | |||
Accumulated Depreciation | 17 | |||
Portland - Vancouver - Hillsboro - Property Thirty Six [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,002 | |||
Initial Cost to Company, Buildings and Improvements | 14,445 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 2,002 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 14,445 | |||
Total | 16,447 | |||
Accumulated Depreciation | 24 | |||
Portland - Vancouver - Hillsboro - Property Thirty Seven [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 860 | |||
Initial Cost to Company, Buildings and Improvements | 3,740 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 860 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,740 | |||
Total | 4,600 | |||
Accumulated Depreciation | 118 | |||
Prineville [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 427 | |||
Initial Cost to Company, Buildings and Improvements | 1,648 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 427 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,648 | |||
Total | 2,075 | |||
Accumulated Depreciation | 227 | |||
Roseburg [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 474 | |||
Initial Cost to Company, Buildings and Improvements | 1,789 | |||
Subsequent Additions | 79 | |||
Gross Carrying Amount at Year-End, Land | 474 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,868 | |||
Total | 2,342 | |||
Accumulated Depreciation | 371 | |||
Salem [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,405 | |||
Initial Cost to Company, Buildings and Improvements | 2,650 | |||
Subsequent Additions | 413 | |||
Gross Carrying Amount at Year-End, Land | 1,405 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,063 | |||
Total | 4,468 | |||
Accumulated Depreciation | 607 | |||
Salem - Property Two [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 492 | |||
Initial Cost to Company, Buildings and Improvements | 1,248 | |||
Subsequent Additions | 18 | |||
Gross Carrying Amount at Year-End, Land | 492 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,266 | |||
Total | 1,758 | |||
Accumulated Depreciation | 112 | |||
The Dalles [Member] | Oregon [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,108 | |||
Initial Cost to Company, Buildings and Improvements | 2,100 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 1,108 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,100 | |||
Total | 3,208 | |||
Accumulated Depreciation | 293 | |||
Anderson [Member] | South Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 92 | |||
Initial Cost to Company, Buildings and Improvements | 976 | |||
Subsequent Additions | 119 | |||
Gross Carrying Amount at Year-End, Land | 92 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,095 | |||
Total | 1,187 | |||
Accumulated Depreciation | 312 | |||
Charlotte - Gastonia - Rock Hill [Member] | South Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 924 | |||
Initial Cost to Company, Buildings and Improvements | 3,086 | |||
Subsequent Additions | 32 | |||
Gross Carrying Amount at Year-End, Land | 924 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,118 | |||
Total | 4,042 | |||
Accumulated Depreciation | 303 | |||
Greenville - Mauldin - Easley [Member] | South Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 82 | |||
Initial Cost to Company, Buildings and Improvements | 838 | |||
Subsequent Additions | 74 | |||
Gross Carrying Amount at Year-End, Land | 82 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 912 | |||
Total | 994 | |||
Accumulated Depreciation | 249 | |||
Spartanburg [Member] | South Carolina [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 535 | |||
Initial Cost to Company, Buildings and Improvements | 1,934 | |||
Subsequent Additions | 23 | |||
Gross Carrying Amount at Year-End, Land | 535 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,957 | |||
Total | 2,492 | |||
Accumulated Depreciation | 185 | |||
Amarillo [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 80 | |||
Initial Cost to Company, Buildings and Improvements | 877 | |||
Subsequent Additions | 106 | |||
Gross Carrying Amount at Year-End, Land | 80 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 983 | |||
Total | 1,063 | |||
Accumulated Depreciation | 227 | |||
Amarillo, Property Two [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 78 | |||
Initial Cost to Company, Buildings and Improvements | 697 | |||
Subsequent Additions | 136 | |||
Gross Carrying Amount at Year-End, Land | 78 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 833 | |||
Total | 911 | |||
Accumulated Depreciation | 196 | |||
Amarillo, Property Three [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 147 | |||
Initial Cost to Company, Buildings and Improvements | 810 | |||
Subsequent Additions | 145 | |||
Gross Carrying Amount at Year-End, Land | 147 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 955 | |||
Total | 1,102 | |||
Accumulated Depreciation | 219 | |||
Austin - Round Rock - San Marcos [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 937 | |||
Initial Cost to Company, Buildings and Improvements | 5,319 | |||
Subsequent Additions | 80 | |||
Gross Carrying Amount at Year-End, Land | 937 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,399 | |||
Total | 6,336 | |||
Accumulated Depreciation | 766 | |||
Austin - Round Rock - San Marcos, Property Two [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,395 | |||
Initial Cost to Company, Buildings and Improvements | 2,790 | |||
Subsequent Additions | 20 | |||
Gross Carrying Amount at Year-End, Land | 1,395 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,810 | |||
Total | 4,205 | |||
Accumulated Depreciation | 616 | |||
Austin - Round Rock - San Marcos, Property Three [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 768 | |||
Initial Cost to Company, Buildings and Improvements | 1,923 | |||
Subsequent Additions | 111 | |||
Gross Carrying Amount at Year-End, Land | 768 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,034 | |||
Total | 2,802 | |||
Accumulated Depreciation | 297 | |||
Austin - Round Rock - San Marcos, Property Four [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 936 | |||
Initial Cost to Company, Buildings and Improvements | 6,446 | |||
Subsequent Additions | 15 | |||
Gross Carrying Amount at Year-End, Land | 936 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 6,461 | |||
Total | 7,397 | |||
Accumulated Depreciation | 40 | |||
Brownsville - Harlingen [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 845 | |||
Initial Cost to Company, Buildings and Improvements | 2,364 | |||
Subsequent Additions | 63 | |||
Gross Carrying Amount at Year-End, Land | 845 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,427 | |||
Total | 3,272 | |||
Accumulated Depreciation | 285 | |||
Brownsville - Harlingen, Property Two [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 639 | |||
Initial Cost to Company, Buildings and Improvements | 1,674 | |||
Subsequent Additions | 85 | |||
Gross Carrying Amount at Year-End, Land | 639 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,759 | |||
Total | 2,398 | |||
Accumulated Depreciation | 250 | |||
Brownsville - Harlingen - Property Three [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 386 | |||
Initial Cost to Company, Buildings and Improvements | 2,798 | |||
Subsequent Additions | 178 | |||
Gross Carrying Amount at Year-End, Land | 386 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,976 | |||
Total | 3,362 | |||
Accumulated Depreciation | 201 | |||
College Station - Bryan [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 618 | |||
Initial Cost to Company, Buildings and Improvements | 2,512 | |||
Subsequent Additions | 57 | |||
Gross Carrying Amount at Year-End, Land | 618 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,569 | |||
Total | 3,187 | |||
Accumulated Depreciation | 677 | |||
College Station - Bryan, Property Two [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 551 | |||
Initial Cost to Company, Buildings and Improvements | 349 | |||
Subsequent Additions | 215 | |||
Gross Carrying Amount at Year-End, Land | 551 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 564 | |||
Total | 1,115 | |||
Accumulated Depreciation | 139 | |||
College Station - Bryan, Property Three [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 295 | |||
Initial Cost to Company, Buildings and Improvements | 988 | |||
Subsequent Additions | 150 | |||
Gross Carrying Amount at Year-End, Land | 295 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,138 | |||
Total | 1,433 | |||
Accumulated Depreciation | 269 | |||
College Station - Bryan, Property Four [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 51 | |||
Initial Cost to Company, Buildings and Improvements | 123 | |||
Subsequent Additions | 63 | |||
Gross Carrying Amount at Year-End, Land | 51 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 186 | |||
Total | 237 | |||
Accumulated Depreciation | 57 | |||
College Station - Bryan, Property Five [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 110 | |||
Initial Cost to Company, Buildings and Improvements | 372 | |||
Subsequent Additions | 133 | |||
Gross Carrying Amount at Year-End, Land | 110 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 505 | |||
Total | 615 | |||
Accumulated Depreciation | 116 | |||
College Station - Bryan, Property Six [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 62 | |||
Initial Cost to Company, Buildings and Improvements | 208 | |||
Subsequent Additions | 13 | |||
Gross Carrying Amount at Year-End, Land | 62 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 221 | |||
Total | 283 | |||
Accumulated Depreciation | 56 | |||
Dallas - Fort Worth - Arlington [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 164 | |||
Initial Cost to Company, Buildings and Improvements | 865 | |||
Subsequent Additions | 49 | |||
Gross Carrying Amount at Year-End, Land | 164 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 914 | |||
Total | 1,078 | |||
Accumulated Depreciation | 247 | |||
Dallas - Fort Worth - Arlington, Property Two [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 155 | |||
Initial Cost to Company, Buildings and Improvements | 105 | |||
Subsequent Additions | 53 | |||
Gross Carrying Amount at Year-End, Land | 155 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 158 | |||
Total | 313 | |||
Accumulated Depreciation | 52 | |||
Dallas - Fort Worth - Arlington, Property Three [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 98 | |||
Initial Cost to Company, Buildings and Improvements | 282 | |||
Subsequent Additions | 96 | |||
Gross Carrying Amount at Year-End, Land | 98 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 378 | |||
Total | 476 | |||
Accumulated Depreciation | 120 | |||
Dallas - Fort Worth - Arlington, Property Four [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 264 | |||
Initial Cost to Company, Buildings and Improvements | 106 | |||
Subsequent Additions | 165 | |||
Gross Carrying Amount at Year-End, Land | 264 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 271 | |||
Total | 535 | |||
Accumulated Depreciation | 94 | |||
Dallas - Fort Worth - Arlington, Property Five [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 376 | |||
Initial Cost to Company, Buildings and Improvements | 803 | |||
Subsequent Additions | 120 | |||
Gross Carrying Amount at Year-End, Land | 376 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 923 | |||
Total | 1,299 | |||
Accumulated Depreciation | 263 | |||
Dallas - Fort Worth - Arlington, Property Six [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 338 | |||
Initial Cost to Company, Buildings and Improvements | 681 | |||
Subsequent Additions | 101 | |||
Gross Carrying Amount at Year-End, Land | 338 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 782 | |||
Total | 1,120 | |||
Accumulated Depreciation | 214 | |||
Dallas - Fort Worth - Arlington, Property Seven [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,388 | |||
Initial Cost to Company, Buildings and Improvements | 4,195 | |||
Subsequent Additions | 37 | |||
Gross Carrying Amount at Year-End, Land | 1,388 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,232 | |||
Total | 5,620 | |||
Accumulated Depreciation | 700 | |||
Dallas - Fort Worth - Arlington, Property Eight [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,859 | |||
Initial Cost to Company, Buildings and Improvements | 5,293 | |||
Subsequent Additions | 122 | |||
Gross Carrying Amount at Year-End, Land | 1,859 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,415 | |||
Total | 7,274 | |||
Accumulated Depreciation | 847 | |||
Dallas - Fort Worth - Arlington, Property Nine [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 379 | |||
Initial Cost to Company, Buildings and Improvements | 2,212 | |||
Subsequent Additions | 102 | |||
Gross Carrying Amount at Year-End, Land | 379 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,314 | |||
Total | 2,693 | |||
Accumulated Depreciation | 510 | |||
Dallas - Fort Worth - Arlington, Property Ten [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,397 | |||
Initial Cost to Company, Buildings and Improvements | 5,250 | |||
Subsequent Additions | 82 | |||
Gross Carrying Amount at Year-End, Land | 1,397 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,332 | |||
Total | 6,729 | |||
Accumulated Depreciation | 782 | |||
Dallas - Fort Worth - Arlington, Property Eleven [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,102 | |||
Initial Cost to Company, Buildings and Improvements | 5,755 | |||
Subsequent Additions | 89 | |||
Gross Carrying Amount at Year-End, Land | 2,102 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,844 | |||
Total | 7,946 | |||
Accumulated Depreciation | 998 | |||
Dallas - Fort Worth - Arlington, Property Twelve [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 649 | |||
Initial Cost to Company, Buildings and Improvements | 1,637 | |||
Subsequent Additions | 35 | |||
Gross Carrying Amount at Year-End, Land | 649 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,672 | |||
Total | 2,321 | |||
Accumulated Depreciation | 532 | |||
Dallas - Fort Worth - Arlington, Property Thirteen [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 396 | |||
Initial Cost to Company, Buildings and Improvements | 1,411 | |||
Subsequent Additions | 438 | |||
Gross Carrying Amount at Year-End, Land | 396 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,849 | |||
Total | 2,245 | |||
Accumulated Depreciation | 289 | |||
Dallas - Fort Worth - Arlington, Property Fourteen [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,263 | |||
Initial Cost to Company, Buildings and Improvements | 3,346 | |||
Subsequent Additions | 50 | |||
Gross Carrying Amount at Year-End, Land | 1,263 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,396 | |||
Total | 4,659 | |||
Accumulated Depreciation | 396 | |||
Dallas - Plano - Irving [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,421 | |||
Initial Cost to Company, Buildings and Improvements | 2,349 | |||
Subsequent Additions | 450 | |||
Gross Carrying Amount at Year-End, Land | 1,421 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,799 | |||
Total | 4,220 | |||
Accumulated Depreciation | 205 | |||
Dallas - Plano - Irving, Property Two [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 710 | |||
Initial Cost to Company, Buildings and Improvements | 3,578 | |||
Subsequent Additions | 38 | |||
Gross Carrying Amount at Year-End, Land | 710 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,616 | |||
Total | 4,326 | |||
Accumulated Depreciation | 35 | |||
Dallas - Plano - Irving, Property Three [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 421 | |||
Initial Cost to Company, Buildings and Improvements | 2,668 | |||
Subsequent Additions | 10 | |||
Gross Carrying Amount at Year-End, Land | 421 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,678 | |||
Total | 3,099 | |||
Accumulated Depreciation | 24 | |||
El Paso [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 338 | |||
Initial Cost to Company, Buildings and Improvements | 1,275 | |||
Subsequent Additions | 42 | |||
Gross Carrying Amount at Year-End, Land | 338 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,317 | |||
Total | 1,655 | |||
Accumulated Depreciation | 353 | |||
El Paso, Property Two [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 94 | |||
Initial Cost to Company, Buildings and Improvements | 400 | |||
Subsequent Additions | 168 | |||
Gross Carrying Amount at Year-End, Land | 94 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 568 | |||
Total | 662 | |||
Accumulated Depreciation | 155 | |||
Houston - Sugar Land - Baytown [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 698 | |||
Initial Cost to Company, Buildings and Improvements | 2,648 | |||
Subsequent Additions | 233 | |||
Gross Carrying Amount at Year-End, Land | 698 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,881 | |||
Total | 3,579 | |||
Accumulated Depreciation | 284 | |||
Houston - The Woodlands - Sugar Land [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,042 | |||
Initial Cost to Company, Buildings and Improvements | 3,061 | |||
Subsequent Additions | 382 | |||
Gross Carrying Amount at Year-End, Land | 1,042 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,443 | |||
Total | 4,485 | |||
Accumulated Depreciation | 281 | |||
Houston - The Woodlands - Sugar Land, Property Two [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,426 | |||
Initial Cost to Company, Buildings and Improvements | 2,910 | |||
Subsequent Additions | 100 | |||
Gross Carrying Amount at Year-End, Land | 1,426 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,010 | |||
Total | 4,436 | |||
Accumulated Depreciation | 78 | |||
Killeen - Temple [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 203 | |||
Initial Cost to Company, Buildings and Improvements | 4,065 | |||
Subsequent Additions | 190 | |||
Gross Carrying Amount at Year-End, Land | 203 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,255 | |||
Total | 4,458 | |||
Accumulated Depreciation | 125 | |||
Killeen - Temple, Property Two [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,128 | |||
Initial Cost to Company, Buildings and Improvements | 6,149 | |||
Subsequent Additions | 186 | |||
Gross Carrying Amount at Year-End, Land | 1,128 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 6,335 | |||
Total | 7,463 | |||
Accumulated Depreciation | 90 | |||
Longview [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 651 | |||
Initial Cost to Company, Buildings and Improvements | 671 | |||
Subsequent Additions | 100 | |||
Gross Carrying Amount at Year-End, Land | 651 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 771 | |||
Total | 1,422 | |||
Accumulated Depreciation | 178 | |||
Longview [Member] | Washington [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 448 | |||
Initial Cost to Company, Buildings and Improvements | 2,356 | |||
Subsequent Additions | 12 | |||
Gross Carrying Amount at Year-End, Land | 448 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,368 | |||
Total | 2,816 | |||
Accumulated Depreciation | 217 | |||
Longview, Property Two [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 104 | |||
Initial Cost to Company, Buildings and Improvements | 489 | |||
Subsequent Additions | 164 | |||
Gross Carrying Amount at Year-End, Land | 104 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 653 | |||
Total | 757 | |||
Accumulated Depreciation | 142 | |||
Longview, Property Three [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 310 | |||
Initial Cost to Company, Buildings and Improvements | 966 | |||
Subsequent Additions | 199 | |||
Gross Carrying Amount at Year-End, Land | 310 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,165 | |||
Total | 1,475 | |||
Accumulated Depreciation | 261 | |||
Longview, Property Four [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,466 | |||
Initial Cost to Company, Buildings and Improvements | 3,559 | |||
Subsequent Additions | 39 | |||
Gross Carrying Amount at Year-End, Land | 2,466 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,598 | |||
Total | 6,064 | |||
Accumulated Depreciation | 480 | |||
Longview, Property Five [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 959 | |||
Initial Cost to Company, Buildings and Improvements | 1,640 | |||
Subsequent Additions | 18 | |||
Gross Carrying Amount at Year-End, Land | 959 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,658 | |||
Total | 2,617 | |||
Accumulated Depreciation | 238 | |||
McAllen - Edinburg - Mission [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,217 | |||
Initial Cost to Company, Buildings and Improvements | 2,738 | |||
Subsequent Additions | 262 | |||
Gross Carrying Amount at Year-End, Land | 1,243 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,000 | |||
Total | 4,243 | |||
Accumulated Depreciation | 544 | |||
McAllen - Edinburg - Mission, Property Two [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,973 | |||
Initial Cost to Company, Buildings and Improvements | 4,517 | |||
Subsequent Additions | 57 | |||
Gross Carrying Amount at Year-End, Land | 1,973 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,574 | |||
Total | 6,547 | |||
Accumulated Depreciation | 661 | |||
McAllen - Edinburg - Mission, Property Three [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,295 | |||
Initial Cost to Company, Buildings and Improvements | 3,929 | |||
Subsequent Additions | 61 | |||
Gross Carrying Amount at Year-End, Land | 1,295 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,990 | |||
Total | 5,285 | |||
Accumulated Depreciation | 565 | |||
McAllen - Edinburg - Mission, Property Four [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 3,079 | |||
Initial Cost to Company, Buildings and Improvements | 7,574 | |||
Subsequent Additions | 82 | |||
Gross Carrying Amount at Year-End, Land | 3,079 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 7,656 | |||
Total | 10,735 | |||
Accumulated Depreciation | 1,164 | |||
McAllen - Edinburg - Mission, Property Five [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,017 | |||
Initial Cost to Company, Buildings and Improvements | 3,261 | |||
Subsequent Additions | 65 | |||
Gross Carrying Amount at Year-End, Land | 1,017 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,326 | |||
Total | 4,343 | |||
Accumulated Depreciation | 462 | |||
McAllen - Edinburg - Mission, Property Six [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 803 | |||
Initial Cost to Company, Buildings and Improvements | 2,914 | |||
Subsequent Additions | 74 | |||
Gross Carrying Amount at Year-End, Land | 803 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,988 | |||
Total | 3,791 | |||
Accumulated Depreciation | 335 | |||
McAllen - Edinburg - Mission, Property Seven [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 2,249 | |||
Initial Cost to Company, Buildings and Improvements | 4,966 | |||
Subsequent Additions | 51 | |||
Gross Carrying Amount at Year-End, Land | 2,249 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 5,017 | |||
Total | 7,266 | |||
Accumulated Depreciation | 742 | |||
McAllen - Edinburg - Mission, Property Eight [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,118 | |||
Initial Cost to Company, Buildings and Improvements | 3,568 | |||
Subsequent Additions | 62 | |||
Gross Carrying Amount at Year-End, Land | 1,118 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,630 | |||
Total | 4,748 | |||
Accumulated Depreciation | 432 | |||
Midland [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 691 | |||
Initial Cost to Company, Buildings and Improvements | 1,588 | |||
Subsequent Additions | 163 | |||
Gross Carrying Amount at Year-End, Land | 691 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,751 | |||
Total | 2,442 | |||
Accumulated Depreciation | 386 | |||
Odessa [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 168 | |||
Initial Cost to Company, Buildings and Improvements | 561 | |||
Subsequent Additions | 103 | |||
Gross Carrying Amount at Year-End, Land | 168 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 664 | |||
Total | 832 | |||
Accumulated Depreciation | 156 | |||
San Angelo [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 381 | |||
Initial Cost to Company, Buildings and Improvements | 986 | |||
Subsequent Additions | 97 | |||
Gross Carrying Amount at Year-End, Land | 381 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,083 | |||
Total | 1,464 | |||
Accumulated Depreciation | 241 | |||
San Antonio - New Braunfels [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 614 | |||
Initial Cost to Company, Buildings and Improvements | 2,640 | |||
Subsequent Additions | 44 | |||
Gross Carrying Amount at Year-End, Land | 614 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,684 | |||
Total | 3,298 | |||
Accumulated Depreciation | 454 | |||
San Antonio - New Braunfels, Property Two [Member] | Texas [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 715 | |||
Initial Cost to Company, Buildings and Improvements | 4,566 | |||
Subsequent Additions | 35 | |||
Gross Carrying Amount at Year-End, Land | 715 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 4,601 | |||
Total | 5,316 | |||
Accumulated Depreciation | 38 | |||
Washington - Arlington - Alexandria [Member] | VIRGINIA | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,516 | |||
Initial Cost to Company, Buildings and Improvements | 12,633 | |||
Subsequent Additions | 16 | |||
Gross Carrying Amount at Year-End, Land | 1,516 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 12,649 | |||
Total | 14,165 | |||
Accumulated Depreciation | 174 | |||
Centralia [Member] | Washington [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 810 | |||
Initial Cost to Company, Buildings and Improvements | 1,530 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 810 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,530 | |||
Total | 2,340 | |||
Accumulated Depreciation | 459 | |||
Centralia, Property Two [Member] | Washington [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 998 | |||
Initial Cost to Company, Buildings and Improvements | 1,862 | |||
Subsequent Additions | 37 | |||
Gross Carrying Amount at Year-End, Land | 998 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 1,899 | |||
Total | 2,897 | |||
Accumulated Depreciation | 653 | |||
Seattle - Tacoma - Bellevue [Member] | Washington [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 770 | |||
Initial Cost to Company, Buildings and Improvements | 3,203 | |||
Subsequent Additions | 48 | |||
Gross Carrying Amount at Year-End, Land | 770 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,251 | |||
Total | 4,021 | |||
Accumulated Depreciation | 529 | |||
Seattle - Tacoma - Bellevue, Property Two [Member] | Washington [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,390 | |||
Initial Cost to Company, Buildings and Improvements | 2,506 | |||
Subsequent Additions | 20 | |||
Gross Carrying Amount at Year-End, Land | 1,390 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,526 | |||
Total | 3,916 | |||
Accumulated Depreciation | 425 | |||
Seattle - Tacoma - Bellevue, Property Three [Member] | Washington [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,438 | |||
Initial Cost to Company, Buildings and Improvements | 3,280 | |||
Subsequent Additions | 28 | |||
Gross Carrying Amount at Year-End, Land | 1,438 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 3,308 | |||
Total | 4,746 | |||
Accumulated Depreciation | 492 | |||
Seattle - Tacoma - Bellevue, Property Four [Member] | Washington [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial Cost to Company, Land | 1,105 | |||
Initial Cost to Company, Buildings and Improvements | 2,121 | |||
Subsequent Additions | 0 | |||
Gross Carrying Amount at Year-End, Land | 1,105 | |||
Gross Carrying Amount at Year-End, Buildings and Improvements | 2,121 | |||
Total | 3,226 | |||
Accumulated Depreciation | $ 283 | |||
Minimum [Member] | Building and Improvements [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Useful life | 3 years | |||
Maximum [Member] | Building and Improvements [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Useful life | 40 years |
Schedule III - Reconciliation (
Schedule III - Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Self Storage properties: | |||
Balance at beginning of year | $ 1,844,336 | $ 1,147,201 | $ 838,941 |
Acquisitions and improvements | 431,542 | 715,509 | 308,323 |
Reclassifications from assets for sale | 8,607 | 0 | 0 |
Write-off of fully depreciated assets and other | (50) | 0 | (63) |
Dispositions | (7,336) | (4,820) | 0 |
Reclassification to assets held for sale | (1,866) | (13,554) | 0 |
Balance at end of year | 2,275,233 | 1,844,336 | 1,147,201 |
Accumulated depreciation: | |||
Balance at beginning of year | 110,803 | 68,100 | 39,614 |
Depreciation expense | 60,522 | 42,703 | 28,549 |
Write-off of fully depreciated assets and other | (10) | 0 | (63) |
Dispositions | (646) | 0 | 0 |
Assets held for sale | (311) | 0 | 0 |
Balance at end of year | $ 170,358 | $ 110,803 | $ 68,100 |