Quarterly report pursuant to Section 13 or 15(d)

Real Estate Assets (Tables)

v3.8.0.1
Real Estate Assets (Tables)
3 Months Ended
Mar. 31, 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

 

 

24,171

 

Ending balance

 

 

51,809,669

 

 

 

 

 

 

Land

 

 

 

 

Beginning balance

 

 

5,493,814

 

Ending balance

 

 

5,493,814

 

 

 

 

 

 

Accumulated depreciation:

 

 

 

 

Beginning balance

 

 

(2,257,862

)

Depreciation expense

 

 

(348,873

)

Ending balance

 

 

(2,606,735

)

 

 

 

 

 

Construction in progress:

 

 

 

 

Beginning balance

 

 

393,832

 

Current development

 

 

28,008

 

Newly developed properties opened for operation

 

 

(369,719

)

Ending balance

 

 

52,121

 

 

 

 

 

 

Total real estate assets at March 31, 2018

 

$

54,748,869