Annual report pursuant to Section 13 and 15(d)

Organization

v3.22.0.1
Organization
12 Months Ended
Dec. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]  
Organization

1. ORGANIZATION

The Parent Company, which operates as a self-administered and self-managed real estate investment trust (a “REIT”), was formed on April 19, 1995 to own and operate self-storage facilities throughout the United States. On June 26, 1995, the Parent Company commenced operations effective with the completion of its initial public offering. The Parent Company, the Operating Partnership and their consolidated subsidiaries are collectively referred to in this report as the “Company.” In addition, terms such as “we,” “us,” or “our” used in this report may refer to the Company, the Parent Company and/or the Operating Partnership.

At December 31, 2021, we had an ownership interest in, and/or managed 1,076 self-storage properties in 35 states. Among our 1,076 self-storage properties are 116 properties that we manage for unconsolidated joint ventures (See Note 11), 251 properties that we manage and have no ownership interest, and five properties that we lease. During 2021, approximately 17% and 14% of the Company’s revenue was derived from stores in the states of Texas and Florida, respectively.