Company: PSA-PH
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001393311-25-000036
Chunk: 26

Company: Public Storage
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 26
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341 6.8 %$113,706 $123,956 (8.3)%$2,828,616 $2,696,852 4.9 %

39

Acquired Facilities

The Acquired Facilities represent 260 facilities that we acquired in 2022, 2023, and 2024. As a result of the stabilization process and timing of when these facilities were acquired, year-over-year changes can be significant. The following table summarizes operating data with respect to the Acquired Facilities:

ACQUIRED FACILITIES Year Ended December 31,Year Ended December 31,20242023Change (a)20232022Change (a)($ amounts in  thousands, except for per square foot amounts)Revenues (b):2022 Acquisitions$55,390$50,105$5,285$50,105$14,945$35,1602023 Acquisitions184,09755,487128,61055,487—55,4872024 Acquisitions1,827—1,827———    Total revenues 241,314105,592135,722105,59214,94590,647Cost of operations (b): 2022 Acquisitions20,51519,91160419,9117,88512,0262023 Acquisitions60,04919,92240,12719,922—19,9222024 Acquisitions1,019—1,019———    Total cost of operations 81,58339,83341,75039,8337,88531,948Net operating income:2022 Acquisitions34,87530,1944,68130,1947,06023,1342023 Acquisitions124,04835,56588,48335,565—35,5652024 Acquisitions808—808———    Net operating income 159,73165,75993,97265,7597,06058,699Depreciation and amortization expense(237,892)(112,247)(125,645)(112,247)(18,494)(93,753)   Net loss$(78,161)$(46,488)$(31,673)$(46,488)$(11,434)$(35,054)At December 31:Square foot occupancy:2022 Acquisitions85.7%82.2%3.5%82.2%79.4%2.8%2023 Ac