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Subsequent Events
6 Months Ended
Jun. 30, 2019
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events

Acquisitions

In July 2019, we completed two investments for a total purchase price of approximately $45.2 million. We acquired a three-property manufacturing/warehouse portfolio in Milwaukee, Wisconsin, with a lease term of 25 years for an aggregate purchase price of approximately $30.1 million. We also acquired a headquarters/manufacturing facility and a warehouse facility in Ontario, Canada, with a lease term of 22 years for an aggregate purchase price of approximately $15.1 million (based on the exchange rate of the Canadian dollar on the date of acquisition). It is not practicable to disclose the preliminary purchase price allocations for these transactions given the short period of time between the acquisition dates and the filing of this Report.

Conversion of Self-Storage Operating Properties to Net Leases

On August 1, 2019, five consolidated self-storage operating properties were converted to net leases, pursuant to the net lease agreements entered into during the second quarter of 2019 (Note 4).