| STORAGE FACILITIES |
3. STORAGE PROPERTIES
The book value of the Company’s real estate assets is summarized as follows:
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September 30,
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December 31,
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2017
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2016
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(in thousands)
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Land
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$
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704,119
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$
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649,744
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Buildings and improvements
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3,036,676
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2,928,275
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Equipment
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182,414
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217,867
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Construction in progress
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163,751
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202,294
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Storage properties
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4,086,960
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3,998,180
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Less: Accumulated depreciation
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(723,702)
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(671,364)
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Storage properties, net
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$
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3,363,258
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$
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3,326,816
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The following table summarizes the Company’s acquisition and disposition activity during the period beginning on January 1, 2016 through September 30, 2017:
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Number
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Purchase / Sale Price
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Asset/Portfolio
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Market
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Transaction Date
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of Stores
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(in thousands)
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2017 Acquisitions:
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Illinois Asset
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Chicago
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April 2017
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1
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$
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11,200
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Maryland Asset
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Baltimore / DC
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May 2017
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1
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18,200
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California Asset
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Sacramento
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May 2017
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1
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3,650
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3
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$
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33,050
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2016 Acquisitions:
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Metro DC Asset
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Baltimore / DC
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January 2016
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1
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$
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21,000
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Texas Assets
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Texas Markets - Major
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January 2016
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2
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24,800
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New York Asset
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New York / Northern NJ
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January 2016
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1
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48,500
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Texas Asset
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Texas Markets - Major
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January 2016
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1
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11,600
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Connecticut Asset
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Connecticut
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February 2016
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1
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19,000
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Texas Asset
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Texas Markets - Major
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March 2016
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1
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11,600
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Florida Assets
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Florida Markets - Other
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March 2016
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3
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47,925
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Colorado Asset
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Denver
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April 2016
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1
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11,350
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Texas Asset
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Texas Markets - Major
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April 2016
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1
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11,600
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Texas Asset
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Texas Markets - Major
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May 2016
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1
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10,100
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Texas Asset
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Texas Markets - Major
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May 2016
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1
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10,800
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Illinois Asset
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Chicago
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May 2016
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1
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12,350
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Illinois Asset
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Chicago
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May 2016
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1
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16,000
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Massachusetts Asset
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Massachusetts
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June 2016
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1
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14,300
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Nevada Assets
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Las Vegas
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July 2016
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2
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23,200
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Arizona Asset
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Phoenix
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August 2016
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1
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14,525
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Minnesota Asset
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Minneapolis
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August 2016
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1
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15,150
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Colorado Asset
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Denver
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August 2016
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1
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15,600
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Texas Asset
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Texas Markets - Major
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September 2016
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1
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6,100
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Texas Asset
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Texas Markets - Major
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September 2016
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1
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5,300
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Nevada Asset
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Las Vegas
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October 2016
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1
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13,250
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North Carolina Asset
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Charlotte
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November 2016
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1
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10,600
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Arizona Asset
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Phoenix
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November 2016
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1
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14,000
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Nevada Asset
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Las Vegas
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December 2016
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1
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14,900
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28
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$
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403,550
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