Quarterly report pursuant to Section 13 or 15(d)

Real Estate Assets (Tables)

v3.10.0.1
Real Estate Assets (Tables)
9 Months Ended
Sep. 30, 2018
Real Estate [Abstract]  
Summary of Carrying Value of Real Estate Assets

The carrying value of the Company’s real estate assets is summarized as follows:

 

Self storage properties, at cost:

 

 

 

 

Beginning balance

 

$

51,415,779

 

Newly developed properties opened for operation

 

 

369,719

 

Improvements and equipment additions

 

 

36,342

 

Ending balance

 

 

51,821,840

 

 

 

 

 

 

Land

 

 

 

 

Beginning balance

 

 

5,493,814

 

Ending balance

 

 

5,493,814

 

 

 

 

 

 

Accumulated depreciation:

 

 

 

 

Beginning balance

 

 

(2,257,862

)

Depreciation expense

 

 

(1,047,553

)

Ending balance

 

 

(3,305,415

)

 

 

 

 

 

Construction in progress:

 

 

 

 

Beginning balance

 

 

393,832

 

Current development

 

 

74,808

 

Newly developed properties opened for operation

 

 

(369,719

)

Ending balance

 

 

98,921

 

 

 

 

 

 

Total real estate assets at September 30, 2018

 

$

54,109,160