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