Extra Space Storage Inc

For the period ended Dec 31, 2024. Filed Feb 28, 2025.

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.

FY2024 · Filed Feb 28, 2025

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

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

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Contents

Schedule III - Real Estate and Accumulated Depreciation

Schedule III

Real Estate and Accumulated Depreciation

(Dollars in thousands)

As of December 31, 2024

Building and Improvements Initial Cost · Adjustments and Costs to Land and Building Subsequent to Acquisition · Gross carrying amount at December 31, 2024
Self - Storage Facilities by State: · Store Count · Land Initial Cost · Building and Improvements · Accumulated Depreciation
Debt · Land · Total
AL	38	$5,686	$53,193	$384,033	$18,063	$53,191	$402,098	$455,289	$28,626
AZ	49	22,102	147,273	567,989	18,431	147,272	586,421	733,693	59,998
CA	219	202,634	914,399	2,286,177	287,455	914,618	2,573,413	3,488,031	501,397
CO	27	25,798	49,985	192,497	22,640	50,703	214,419	265,122	39,143
CT	23	6,179	43,453	373,628	8,264	43,452	381,892	425,344	28,491
FL	256	151,928	692,608	3,009,106	131,435	690,728	3,142,421	3,833,149	323,023
GA	120	78,738	304,982	1,195,949	55,865	304,970	1,251,826	1,556,796	157,456
HI	14	—	29,836	160,978	25,305	29,836	186,282	216,118	48,926
ID	2	—	4,047	25,235	71	4,047	25,306	29,353	1,468
IL	104	15,888	203,952	1,082,223	54,630	203,331	1,137,474	1,340,805	112,677
IN	92	—	64,877	508,534	17,683	64,528	526,566	591,094	47,931
KS	1	—	366	1,897	1,200	366	3,097	3,463	1,668
KY	15	30,070	10,026	88,389	22,085	10,799	109,701	120,500	24,599
LA	10	—	16,673	126,604	6,660	16,674	133,263	149,937	12,356
MA	65	38,786	120,291	546,958	69,802	120,472	616,579	737,051	140,277
MD	44	71,078	157,195	450,952	46,923	156,605	498,465	655,070	124,999
ME	5	—	2,352	86,339	792	2,352	87,131	89,483	3,195
MI	11	4,199	13,162	89,881	7,467	13,162	97,348	110,510	15,525
MN	7	—	9,696	74,960	7,143	9,696	82,103	91,799	12,120
MO	29	—	33,809	357,853	15,112	33,768	373,006	406,774	24,006
MS	7	—	9,053	82,098	2,646	9,052	84,745	93,797	7,868
NC	54	—	93,492	557,728	17,743	93,489	575,473	668,962	47,845
NH	17	—	50,952	195,719	3,393	51,015	199,049	250,064	10,291
NJ	90	78,795	310,950	1,081,676	84,560	317,420	1,159,766	1,477,186	242,193
NM	12	24,572	32,248	72,559	8,450	32,247	81,010	113,257	19,464
NV	33	15,783	98,798	477,649	14,252	98,973	491,726	590,699	35,384
NY	80	3,235	341,104	1,200,614	83,904	342,924	1,282,698	1,625,622	140,005
OH	50	9,920	71,460	388,236	27,786	71,459	416,023	487,482	36,109
OK	4	—	3,917	28,534	458	3,917	28,992	32,909	1,191
OR	8	23,319	15,066	68,044	3,159	15,066	71,203	86,269	16,087
PA	31	10,386	57,671	356,325	39,082	56,997	396,080	453,077	57,399
RI	6	3,585	6,132	55,033	2,124	6,131	57,158	63,289	6,045
SC	46	27,568	65,032	385,333	16,162	65,036	401,491	466,527	52,193
TN	31	30,338	55,637	259,210	17,107	55,637	276,317	331,954	44,087
TX	274	61,631	587,514	2,788,363	117,215	587,843	2,905,249	3,493,092	285,874
UT	10	15,895	9,008	39,295	10,751	9,008	50,046	59,054	16,988
VA	73	43,618	198,998	842,848	46,577	198,998	889,425	1,088,423	152,288
WA	16	4,729	68,560	188,949	15,257	68,562	204,204	272,766	24,049
WI	2	—	2,192	31,270	463	2,192	31,733	33,925	706
DC	1	7,201	14,394	18,172	739	14,394	18,911	33,305	4,429
Other corporate assets		—	—	11,037	270,344	—	281,381	281,381	96,203
Intangible tenant relationships and lease rights		—	—	354,183	—	—	354,183	354,183	317,639
Construction in Progress/Undeveloped Land		—	25,002	4,383	100,446	23,712	106,188	129,900	1,191
Right of use asset - finance lease		—	—	—	140,259	—	140,259	140,259	15,727
Totals (1)	1,976	$1,013,661	$4,989,355	$21,097,440	$1,839,903	$4,994,642	$22,932,121	$27,926,763	$3,339,136

(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, 2024, 2023 and 2022 is as follows:

	2024	2023	2022
Operating facilities
Balance at beginning of year	$27,061,533	$12,084,025	$10,643,722
Acquisitions	590,044	14,715,285	1,390,463
Improvements	200,333	175,932	95,282
Transfers from construction in progress	148,702	87,485	70,565
Dispositions and other	(175,142)	(1,194)	(116,007)
Balance at end of year	$27,825,470	$27,061,533	$12,084,025
Accumulated depreciation:
Balance at beginning of year	$2,624,405	$2,138,395	$1,868,321
Depreciation expense	714,731	486,010	276,155
Dispositions and other	—	—	(6,081)
Balance at end of year	$3,339,136	$2,624,405	$2,138,395
Real estate under development/redevelopment:
Balance at beginning of year	$118,745	$52,348	$59,248
Current development	131,249	153,920	63,597
Transfers to operating facilities	(148,701)	(87,523)	(70,565)
Dispositions and other	—	—	68
Balance at end of year	$101,293	$118,745	$52,348
Net non-lease real estate assets (1)	$24,587,627	$24,555,873	$9,997,978

(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, 2024, the aggregate cost of real estate for U.S. federal income tax purposes was $19,115,556.

ContentsView on SEC.gov

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