Extra Space Storage Inc.

For the period ended Dec 31, 2025. Filed Feb 20, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 20, 2026

EXR$158.95-0.8%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Schedule III - Real Estate and Accumulated Depreciation

Schedule III

Real Estate and Accumulated Depreciation

(Dollars in thousands)

As of December 31, 2025

Building and Improvements Initial Cost · Adjustments and Costs to Land and Building Subsequent to Acquisition · Gross carrying amount at December 31, 2025
Self - Storage Facilities by State: · Store Count · Land Initial Cost · Building and Improvements · Accumulated Depreciation
Debt · Land · Total
AL	35	$5,686	$49,404	$364,787	$21,538	$49,403	$386,326	$435,729	$38,378
AZ	52	20,506	150,075	601,223	37,480	150,076	638,702	788,778	76,694
CA	227	205,367	932,767	2,363,155	339,601	932,956	2,702,566	3,635,522	577,857
CO	27	8,368	49,985	192,497	14,351	46,522	210,311	256,833	45,319
CT	23	5,958	43,453	373,628	12,826	43,452	386,454	429,906	38,945
FL	256	196,258	701,892	2,987,251	205,160	708,713	3,185,593	3,894,306	404,484
GA	122	78,639	307,374	1,207,454	70,428	307,362	1,277,894	1,585,256	193,079
HI	16	—	41,490	188,814	24,880	41,490	213,694	255,184	54,052
ID	2	—	4,047	25,235	91	4,047	25,326	29,373	2,126
IL	107	32,757	215,263	1,117,332	72,935	214,168	1,191,362	1,405,530	145,063
IN	94	—	65,970	516,923	27,170	65,967	544,096	610,063	62,698
KS	1	—	366	1,897	1,397	366	3,294	3,660	1,780
KY	14	17,017	9,279	81,110	22,736	10,051	103,074	113,125	27,330
LA	10	—	16,673	126,604	8,387	16,674	134,990	151,664	16,020
MA	67	26,915	123,404	559,035	82,254	121,750	642,943	764,693	158,553
MD	45	60,576	164,488	470,789	59,244	163,897	530,624	694,521	139,937
ME	5	—	2,352	86,339	1,612	2,352	87,951	90,303	5,520
MI	11	—	13,162	89,881	8,519	13,162	98,400	111,562	18,422
MN	7	—	9,696	74,960	7,966	9,696	82,926	92,622	14,299
MO	29	—	33,810	357,853	20,034	33,768	377,928	411,696	34,667
MS	5	—	5,859	59,032	2,851	5,859	61,883	67,742	8,767
NC	55	—	97,951	574,882	26,659	97,948	601,544	699,492	63,957
NH	17	—	50,952	195,719	6,055	51,015	201,711	252,726	15,684
NJ	92	46,814	311,946	1,097,185	108,211	318,416	1,198,926	1,517,342	276,650
NM	12	16,476	32,248	72,560	9,656	32,247	82,216	114,463	22,078
NV	41	33,802	122,413	551,035	21,308	122,588	572,168	694,756	49,310
NY	83	65,370	371,354	1,278,654	97,905	372,098	1,375,815	1,747,913	177,661
OH	49	7,381	71,111	382,039	35,445	71,109	417,485	488,594	47,457
OK	4	—	3,917	28,534	862	3,917	29,396	33,313	1,977
OR	8	14,494	15,066	68,044	3,392	15,066	71,436	86,502	18,063
PA	33	10,136	59,772	386,989	44,058	59,098	431,721	490,819	69,481
RI	6	3,457	6,132	55,033	2,948	6,131	57,982	64,113	7,610
SC	47	31,385	66,819	390,415	20,776	66,822	411,188	478,010	63,400
TN	33	30,338	58,056	280,263	19,942	58,056	300,204	358,260	52,492
TX	267	72,642	575,605	2,749,661	166,821	576,024	2,916,063	3,492,087	352,045
UT	23	35,850	38,633	125,416	11,638	38,632	137,055	175,687	18,599
VA	74	45,277	199,809	852,459	69,950	199,809	922,410	1,122,219	177,424
WA	16	4,579	68,560	188,949	18,456	68,562	207,403	275,965	29,880
WI	2	—	2,192	31,270	1,730	2,192	33,000	35,192	1,613
DC	1	6,850	14,394	18,172	947	14,394	19,119	33,513	4,957
Other corporate assets		—	—	3,768	352,391	—	356,159	356,159	113,205
Intangible tenant relationships and lease rights		—	—	372,440	—	—	372,440	372,440	333,687
Construction in Progress/Undeveloped Land		—	19,443	4,661	103,575	19,864	107,784	127,648	1,191
Right of use asset - finance lease		—	—	—	141,194	—	141,194	141,194	19,714
Totals (1)	2,018	$1,082,898	$5,127,182	$21,553,947	$2,305,379	$5,135,719	$23,850,756	$28,986,475	$3,982,125

(1) No right-of-use assets related to operating leases are included in the ending net real estate assets information above.

Extra Space Storage Inc. Schedule III (continued)

Activity in real estate facilities during the years ended December 31, 2025, 2024 and 2023 is as follows:

	2025	2024	2023
Operating facilities
Balance at beginning of year	$27,825,470	$27,061,533	$12,084,025
Acquisitions	1,062,674	590,044	14,715,285
Improvements	339,730	200,333	175,932
Transfers from construction in progress	144,093	148,702	87,485
Dispositions and other	(488,581)	(175,142)	(1,194)
Balance at end of year	$28,883,386	$27,825,470	$27,061,533
Accumulated depreciation:
Balance at beginning of year	$3,339,136	$2,624,405	$2,138,395
Depreciation expense	642,989	714,731	486,010
Dispositions and other	—	—	—
Balance at end of year	$3,982,125	$3,339,136	$2,624,405
Real estate under development/redevelopment:
Balance at beginning of year	$101,293	$118,745	$52,348
Current development	145,889	131,249	153,920
Transfers to operating facilities	(144,093)	(148,701)	(87,523)
Dispositions and other	—	—	—
Balance at end of year	$103,089	$101,293	$118,745
Net non-lease real estate assets (1)	$25,004,350	$24,587,627	$24,555,873

(1) No right-of-use assets related to operating leases are included in the ending net real estate assets information above.

As of December 31, 2025, the aggregate cost of real estate for U.S. federal income tax purposes was $19,707,569.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.