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Self Storage Facilities (Tables)
 6 Months Ended
Jun. 30, 2016
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 facilities, at cost:

 

 

 

 

Beginning balance

 

$

30,746,183

 

Capital expenditures for office remodeling and equipment

   acquisition

 

 

24,432

 

Ending balance

 

 

30,770,615

 

 

 

 

 

 

Land

 

 

 

 

Beginning balance

 

 

3,464,406

 

Ending balance

 

 

3,464,406

 

 

 

 

 

 

Accumulated depreciation:

 

 

 

 

Beginning balance

 

 

—

 

Depreciation expense

 

 

(358,975

)

Ending balance

 

 

(358,975

)

 

 

 

 

 

Construction in progress:

 

 

 

 

Beginning balance

 

 

144,664

 

Current development

 

 

1,141,530

 

Ending balance

 

 

1,286,194

 

 

 

 

 

 

Total real estate facilities at June 30, 2016

 

$

35,162,240