SUBSEQUENT EVENTS |
9 Months Ended |
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Sep. 30, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Self Storage Property Acquisitions Subsequent to September 30, 2021, the Company acquired 39 self storage properties for approximately $325.7 million. Consideration for these acquisitions included approximately $302.5 million of net cash, the assumption of approximately $2.6 million of other working capital liabilities and OP equity of approximately $20.6 million (consisting of the issuance of 297,934 OP units and 42,763 subordinated performance units). ATM Program Subsequent to September 30, 2021, the Company sold 125,000 of its common shares through the ATM program at an average offering price of $59.16 per share, resulting in net proceeds to the Company of approximately $7.4 million, after deducting compensation payable by the Company to such agents and offering expenses. The Company used the net proceeds for self storage property acquisitions and to repay borrowings outstanding under its Revolver.
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