Investments in Unconsolidated Real Estate Entities (Tables)

12 Months Ended

Dec. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Investments in Unconsolidated Real Estate Entities

Net Investments in unconsolidated real estate entities and Cash distributions in unconsolidated real estate ventures consist of the following:

	Number of Stores	Equity Ownership %	Excess Profit % (1)	December 31,
				2022		2021
PRISA Self Storage LLC	84	4%	4%	$	8,596	$	8,792
Storage Portfolio II JV LLC	36	10%	30%	(7,200)		(6,116)
Storage Portfolio IV JV LLC	32	10%	30%	49,139		40,174
Storage Portfolio I LLC	24	34%	49%	(41,372)		(40,168)
PR II EXR JV LLC	23	25%	25%	110,172		70,403
ESS-CA TIVS JV LP	16	55%	60%	30,778		32,288
VRS Self Storage, LLC	16	45%	54%	(15,399)		(14,269)
ARA-EXR JV LLC	12	10%	30%	19,137		—
ESS-NYFL JV LP	11	16%	24%	11,332		11,796
Extra Space Northern Properties Six LLC	10	10%	35%	(3,382)		(3,029)
Alan Jathoo JV LLC	9	10%	10%	7,414		7,621
ESS Bristol Investments LLC	8	10%	30%	2,110		2,628
ESS - BGO Atlanta GA JV LLC	7	20%	35%	30,467		—
Storage Portfolio V JV LLC	6	10%	30%	9,517		—
PR EXR Self Storage, LLC	5	25%	40%	58,476		59,393
Storage Portfolio III JV LLC	5	10%	30%	5,467		5,596
Other unconsolidated real estate ventures	14	20-50%	20-50%	39,808		18,635
SmartStop Self Storage REIT, Inc. Preferred Stock (2)	n/a	n/a	n/a	200,000		200,000
Net Investments in and Cash distributions in unconsolidated real estate entities	318			$	515,060	$	393,744

(1)Includes pro-rata equity ownership share and promoted interest.

(2)The Company invested in shares of convertible preferred stock of SmartStop. The dividend rate for the preferred shares is 6.25% per annum, subject to increase after five years. The preferred shares are generally not redeemable for five years, except in the case of a change of control or initial listing of SmartStop. Dividend income from this investment is included on the equity in earnings and dividend income from unconsolidated real estate entities line on the Company's consolidated statement of operations.

Schedule of Equity in Earnings of Unconsolidated Real Estate Ventures

Equity in earnings and dividend income from unconsolidated real estate entities consists of the following:

	For the Year Ended December 31,
	2022		2021		2020
Dividend income from SmartStop preferred stock	$	12,509	$	12,500	$	9,968
Equity in earnings of PRISA Self Storage LLC	3,272		2,719		2,229
Equity in earnings of Storage Portfolio II JV LLC	3,398		1,802		559
Equity in earnings of Storage Portfolio IV JV LLC	917		112		—
Equity in earnings of Storage Portfolio I LLC	4,684		2,833		1,636
Equity in earnings of PR II EXR JV LLC	1,229		(8)		—
Equity in earnings of ESS-CA TIVS JV LP	2,753		1,274		—
Equity in earnings of VRS Self Storage, LLC	5,401		4,352		3,509
Equity in earnings of ARA-EXR JV LLC	180		—		—
Equity in earnings of ESS-NYFL JV LLC	803		427		(331)
Equity in earnings of Extra Space Northern Properties Six LLC	1,734		1,363		1,088
Equity in earnings of ESS-BGO Atlanta GA JV LLC	55		—		—
Equity in earnings of Alan Jathoo JV LLC	482		270		57
Equity in earnings of Bristol Investments LLC	350		177		(67)
Equity in earnings of Storage Portfolio V JV LLC	(33)		—		—
Equity in earnings of PR EXR Self Storage, LLC	1,030		491		(211)
Equity in earnings of WICNN JV LLC	—		1,050		1,878
Equity in earnings of GFN JV, LLC	—		546		788
Equity in earnings of other minority owned stores	2,664		2,450		1,258
	$	41,428	$	32,358	$	22,361