SELF STORAGE PROPERTIES
 12 Months Ended
Dec. 31, 2015
Real Estate [Abstract]  
SELF STORAGE PROPERTIES
SELF STORAGE PROPERTIES
Self storage properties are summarized as follows (dollars in thousands):
 
December 31,
 
2015
 
2014
Land
$
315,867

 
$
236,691

Buildings and improvements
829,093

 
600,284

Furniture and equipment
2,241

 
1,966

Total self storage properties
1,147,201

 
838,941

Less accumulated depreciation
(68,100
)
 
(39,614
)
Self storage properties, net
$
1,079,101

 
$
799,327


Depreciation expense related to self storage properties amounted to $28.5 million and $15.5 million for the years ended December 31, 2015 and 2014, respectively, $5.8 million for the nine months ended December 31, 2013, and $1.0 million for the three months ended March 31, 2013.