Subsequent Events	6 Months Ended
Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Note 12. Subsequent Events *Acquisition—Silverado Ranch Road—Las Vegas, Nevada* On July 28, 2016, we purchased a self storage facility (the “Silverado Ranch Road Property”), located in Las Vegas Nevada. We acquired the Silverado Ranch Road Property from an unaffiliated third party for a purchase price of approximately $13.9 million, plus closing costs and acquisition fees. Our Advisor earned approximately $245,000 in acquisition fees in connection with this acquisition. We financed the acquisition of the Silverado Ranch Road Property with net proceeds from our Offering. *KeyBank CMBS Loan* On July 28, 2016, we, through 29 special purpose entities wholly owned by our Operating Partnership, entered into a loan agreement with KeyBank in which we borrowed $95 million from KeyBank (the “CMBS Loan”). Pursuant to the loan agreement, the collateral under the loan consists of our respective fee interests in 29 self storage properties (the “Mortgaged Properties”). The proceeds of the CMBS Loan were primarily used to pay down our Amended KeyBank Credit Facility, after which the Mortgaged Properties were released as collateral under the Amended KeyBank Credit Facility. The CMBS Loan has an initial term of ten years, maturing on August 1, 2026. In connection with the CMBS Loan, we entered into two promissory notes, dated July 28, 2016, in the amounts of $70 million and $25 million (the “Promissory Notes”). Monthly payments due under the Promissory Notes are interest-only for the first five years and payments reflecting a 30-year amortization schedule begin thereafter. The Promissory Notes bear interest at 3.89%. The CMBS Loan is secured by first mortgage liens or deeds of trusts on the Mortgaged Properties, an assignment of all leases/rents, perfected first priority security interests in all personal property, escrows, reserves and a cash management account. In addition, we have provided a guaranty (the “KeyBank Guaranty”), dated July 28, 2016, in favor of KeyBank, in which we serves as a guarantor of all obligations due under the Loan Agreement. The CMBS Loan may be prepaid with payment of a yield maintenance premium only during the period commencing on the third anniversary of the first monthly payment and ending two years after the completion of securitization of the Promissory Notes by KeyBank. If KeyBank securitizes the Promissory Notes within three years of the first monthly payment, the CMBS Loan may not be prepaid but may be repaid in whole or in part through a partial or full defeasance (releasing one or more of the Mortgaged Properties from the liens) beginning two years after the Promissory Notes are securitized. *Potential Acquisition—West Sahara Ave –Las Vegas, Nevada* On August 1, 2016, one of our subsidiaries executed a purchase and sale agreement with an unaffiliated third party for the acquisition of a storage facility located in Las Vegas, Nevada (the “West Sahara Ave Property”). The purchase price for the West Sahara Ave Property is approximately $9.3 million, plus closing costs and acquisition fees. We expect to close on the acquisition of the West Sahara Ave Property in the third quarter of 2016 and to fund such acquisition with net proceeds from our Offering and a drawdown on the Amended KeyBank Credit Facility. There can be no assurance that we will complete the acquisition. If we fail to acquire the West Sahara Ave Property, in addition to the incurred acquisition costs, we may also forfeit earnest money as a result. *Offering Status* As of August 8, 2016, in connection with our Offering we have issued approximately 40.2 million Class A Shares of our common stock and approximately 3.9 million Class T Shares of our common stock for gross proceeds of approximately $403.6 million and approximately $38.7 million, respectively.

Note 12. Subsequent Events

Acquisition—Silverado Ranch Road—Las Vegas, Nevada

On July 28, 2016, we purchased a self storage facility (the “Silverado Ranch Road Property”), located in Las Vegas Nevada. We acquired the Silverado Ranch Road Property from an unaffiliated third party for a purchase price of approximately $13.9 million, plus closing costs and acquisition fees. Our Advisor earned approximately $245,000 in acquisition fees in connection with this acquisition. We financed the acquisition of the Silverado Ranch Road Property with net proceeds from our Offering.

KeyBank CMBS Loan

On July 28, 2016, we, through 29 special purpose entities wholly owned by our Operating Partnership, entered into a loan agreement with KeyBank in which we borrowed $95 million from KeyBank (the “CMBS Loan”). Pursuant to the loan agreement, the collateral under the loan consists of our respective fee interests in 29 self storage properties (the “Mortgaged Properties”). The proceeds of the CMBS Loan were primarily used to pay down our Amended KeyBank Credit Facility, after which the Mortgaged Properties were released as collateral under the Amended KeyBank Credit Facility.

The CMBS Loan has an initial term of ten years, maturing on August 1, 2026. In connection with the CMBS Loan, we entered into two promissory notes, dated July 28, 2016, in the amounts of $70 million and $25 million (the “Promissory Notes”). Monthly payments due under the Promissory Notes are interest-only for the first five years and payments reflecting a 30-year amortization schedule begin thereafter. The Promissory Notes bear interest at 3.89%.

The CMBS Loan is secured by first mortgage liens or deeds of trusts on the Mortgaged Properties, an assignment of all leases/rents, perfected first priority security interests in all personal property, escrows, reserves and a cash management account. In addition, we have provided a guaranty (the “KeyBank Guaranty”), dated July 28, 2016, in favor of KeyBank, in which we serves as a guarantor of all obligations due under the Loan Agreement.

The CMBS Loan may be prepaid with payment of a yield maintenance premium only during the period commencing on the third anniversary of the first monthly payment and ending two years after the completion of securitization of the Promissory Notes by KeyBank. If KeyBank securitizes the Promissory Notes within three years of the first monthly payment, the CMBS Loan may not be prepaid but may be repaid in whole or in part through a partial or full defeasance (releasing one or more of the Mortgaged Properties from the liens) beginning two years after the Promissory Notes are securitized.

Potential Acquisition—West Sahara Ave –Las Vegas, Nevada

On August 1, 2016, one of our subsidiaries executed a purchase and sale agreement with an unaffiliated third party for the acquisition of a storage facility located in Las Vegas, Nevada (the “West Sahara Ave Property”). The purchase price for the West Sahara Ave Property is approximately $9.3 million, plus closing costs and acquisition fees. We expect to close on the acquisition of the West Sahara Ave Property in the third quarter of 2016 and to fund such acquisition with net proceeds from our Offering and a drawdown on the Amended KeyBank Credit Facility. There can be no assurance that we will complete the acquisition. If we fail to acquire the West Sahara Ave Property, in addition to the incurred acquisition costs, we may also forfeit earnest money as a result.

Offering Status

As of August 8, 2016, in connection with our Offering we have issued approximately 40.2 million Class A Shares of our common stock and approximately 3.9 million Class T Shares of our common stock for gross proceeds of approximately $403.6 million and approximately $38.7 million, respectively.