Quarterly report pursuant to Section 13 or 15(d)

Real Estate Assets (Tables)

v3.19.1
Real Estate Assets (Tables)
3 Months Ended
Mar. 31, 2019
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

 

$

51,879,327

 

Improvements and equipment additions

 

 

7,390

 

Ending balance

 

 

51,886,717

 

 

 

 

 

 

Land

 

 

 

 

Beginning balance

 

 

5,493,814

 

Ending balance

 

 

5,493,814

 

 

 

 

 

 

Accumulated depreciation:

 

 

 

 

Beginning balance

 

 

(3,656,220

)

Depreciation expense

 

 

(351,644

)

Ending balance

 

 

(4,007,864

)

 

 

 

 

 

Construction in progress:

 

 

 

 

Beginning balance

 

 

94,816

 

Current development

 

 

22,401

 

Ending balance

 

 

117,217

 

 

 

 

 

 

Total real estate assets at March 31, 2019

 

$

53,489,884