ssgt was focused on opportunistic self storage properties , including development , and lease-up properties . see note 3 , real estate facilities—merger with strategic storage growth trust , inc. , for additional information related to the ssgt mergers . in our initial public offering , which commenced on january 10 , 2014 and ended on january 9 , 2017 , we offered a maximum of $ 1.0 billion in common shares for sale to the public ( the “ primary offering ” ) and $ 95.0 million in common shares for sale pursuant to our distribution reinvestment plan ( collectively , the “ offering ” ) and sold approximately 48.4 million class a shares and approximately 7.3 million class t shares for approximately $ 493 million and $ 73 million , respectively . 45 as of december 31 , 2019 , we owned 112 self storage properties located in 17 states ( alabama , arizona , california , colorado , florida , illinois , indiana , maryland , massachusetts , michigan , new jersey , nevada , north carolina , ohio , south carolina , texas and washington ) and ontario , canada ( the greater toronto area ) comprising of approximately 72,0 00 units and approximately 8.2 million rentable square feet . critical accounting policies we have established accounting policies which conform to generally accepted accounting principles ( “ gaap ” ) . preparing financial statements in conformity with gaap requires management to use judgment in the application of accounting policies , including making estimates and assumptions . following is a discussion of the estimates and assumptions used in setting accounting policies that we consider critical in the presentation of our financial statements . many estimates and assumptions involved in the application of gaap may have a material impact on our financial condition or operating performance , or on the comparability of such information to amounts reported for other periods , because of the subjectivity and judgment required to account for highly uncertain items or the susceptibility of such items to change . these estimates and assumptions affect our reported amounts of assets and liabilities , our disclosure of contingent assets and liabilities at the dates of the financial statements and our reported amounts of revenue and expenses during the period covered by this report . if management 's judgment or interpretation of the facts and circumstances relating to various transactions had been different , it is possible that different accounting policies would have been applied or different amounts of assets , liabilities , revenues and expenses would have been recorded , thus resulting in a materially different presentation of the financial statements or materially different amounts being reported in the financial statements . additionally , other companies may use different estimates and assumptions that may impact the comparability of our financial condition and results of operations to those companies . we believe that our critical accounting policies include the following : real estate purchase price allocations ; the evaluation of whether any of our long-lived assets have been impaired ; the valuation of goodwill and related impairment considerations , the valuation of our trademarks and related impairment considerations , the determination of the useful lives of our long-lived assets ; and the evaluation of the consolidation of our interests in joint ventures . the following discussion of these policies supplements , but does not supplant the description of our significant accounting policies , as contained in note 2 of the notes to the consolidated financial statements contained in this report , and is intended to present our analysis of the uncertainties involved in arriving upon and applying each policy . real estate purchase price allocation we account for acquisitions in accordance with gaap which requires that we allocate the purchase price of a property to the tangible and intangible assets acquired and the liabilities assumed based on their relative fair values . this guidance requires us to make significant estimates and assumptions , including fair value estimates , which requires the use of significant unobservable inputs as of the acquisition date . the value of the tangible assets , consisting of land and buildings is determined as if vacant . because we believe that substantially all of the leases in place at properties we will acquire will be at market rates , as the majority of the leases are month-to-month contracts , we do not expect to allocate any portion of the purchase prices to above or below market leases . we also consider whether in-place , market leases represent an intangible asset . acquisitions of portfolios of facilities are allocated to the individual facilities based upon an income approach or a cash flow analysis using appropriate risk adjusted capitalization rates which take into account the relative size , age , and location of the individual facility along with current and projected occupancy and rental rate levels or appraised values , if available . our allocations of purchase prices are based on certain significant estimates and assumptions , variations in such estimates and assumptions could result in a materially different presentation of the consolidated financial statements or materially different amounts being reported in the consolidated financial statements . impairment of long-lived assets the majority of our assets consist of long-lived real estate assets as well as intangible assets related to our acquisitions . we evaluate such assets for impairment based on events and changes in circumstances that may arise in the future and that may impact the carrying amounts of our long-lived assets . when indicators of potential impairment are present , we will assess the recoverability of the particular asset by determining whether the carrying value of the asset will be recovered , through an evaluation of the undiscounted future operating cash flows expected from the use of the asset and its eventual disposition . this evaluation is based on a number of estimates and assumptions . story_separator_special_tag the increase in total self storage revenues of approximately $ 22.8 million , or 28.3 % , is primarily attributable to the 28 operating self storage facilities acquired in january 2019 and one operating property acquired in july 2019 in connection with the ssgt mergers ( approximately $ 22.0 million ) , incremental tenant program revenues generated on our wholly owned assets primarily as a result of the self administration transaction ( approximately $ 1.5 million ) , and same-store increases , excluding the impact of the incremental tenant program revenues , of approximately $ 1.1 million , or 1.6 % ( see same-store facility results table and related footnotes for the years ended december 31 , 2019 and 2018 for further discussion ) , partially offset by the impact of adopting asu 2016-02 , which reduced total self storage revenues by approximately $ 1.7 million as amounts previously recorded to bad debt expense within property operating expenses are now presented as a reduction to self storage rental revenue . we expect total self storage revenues to increase in future periods as the ssgt properties become economically and physically stabilized . managed reit platform revenue managed reit platform revenue for the years ended december 31 , 2019 and 2018 was approximately $ 3.1 million and none , respectively . such revenue consisted of approximately $ 1.5 million of asset management fee revenue , approximately $ 0.7 million of property management fee revenue and approximately $ 0.9 million of other revenue earned pursuant to our management contracts with the managed reits . this revenue was derived from the managed reit platform business , effective june 28 , 2019 , as a result of the self administration transaction . we expect our managed reit platform revenue will grow in future periods as we own the platform for the full fiscal period and as our managed reits acquire additional properties . 50 reimbursable costs from managed reits reimbursable costs from managed reits for the years ended december 31 , 2019 and 2018 were approximately $ 3.3 million and none , respectively . such revenues consist of costs incurred by us as we provide property management and advisory services to the managed reits , which are reimbursed by our managed reits , pursuant to our related contracts with the managed reits . we expect reimbursable costs from managed reits to increase in future periods as we own the platform for the full fiscal period and as our managed reits acquire additional properties . property operating expenses property operating expenses for the years ended december 31 , 2019 and 2018 were approximately $ 35.7 million ( or 34.6 % of self storage revenue ) and $ 25.2 million ( or 31.4 % of self storage revenue ) , respectively . property operating expenses includes the costs to operate our facilities including payroll expense , utilities , insurance , real estate taxes , and marketing . the increase in property operating expenses of approximately $ 10.5 million , is primarily attributable to the 28 operating self storage facilities acquired in january 2019 and one operating property acquired in july 2019 in connection with the ssgt mergers ( approximately $ 9.4 million ) , an increase of approximately $ 0.5 million related to increased compensation expense as a result of the self administration transaction , and an increase in same-store operating expenses of approximately $ 1.6 million , primarily attributable to repairs and maintenance , and property taxes , partially offset by the impact of adopting asu 2016-02 , which reduced 2019 same store property operating expenses by approximately $ 1.2 million . we expect property operating expenses to decrease as a percentage of revenue as overall occupancy grows and therefore revenues increases , particularly in the ssgt properties . property operating expenses – affiliates property operating expenses – affiliates for the years ended december 31 , 2019 and 2018 were approximately $ 6.6 million and $ 10.3 million , respectively . property operating expenses – affiliates includes property management fees and asset management fees . the decrease in property operating expenses – affiliates of approximately $ 3.6 million is primarily attributable to the self administration transaction , offset by costs related to the 28 operating self storage facilities acquired in january 2019 in connection with the ssgt mergers . as a result of the self administration transaction , we no longer incur such expenses . managed reit platform expenses managed reit platform expenses for the years ended december 31 , 2019 and 2018 were approximately $ 2.7 million and none , respectively . such expenses primarily consisted of expenses related to the administrative services agreement ( as defined in note 4 , self administration transaction , of the notes to the consolidated financial statements contained in this report ) , and other non-reimbursable costs associated with the operation of the managed reit platform we acquired on june 28 , 2019. we expect managed reit platform expenses to increase in future periods as we own the platform for the full fiscal period and , to a lesser extent , as our managed reits acquire additional properties . reimbursable costs from managed reits reimbursable costs from managed reits for the years ended december 31 , 2019 and 2018 were approximately $ 3.3 million and none , respectively . such expenses consist of costs incurred by us as we provide property management and advisory services to the managed reits , which are reimbursed by our managed reits , pursuant to our related contracts with the managed reits . we expect reimbursable costs from managed reits to increase in future periods as we own the platform for the full fiscal period and as our managed reits acquire additional properties . general and administrative expenses general and administrative expenses for the years ended december 31 , 2019 and 2018 were approximately $ 10.5 million and $ 4.8 million , respectively . such expenses have historically consisted primarily of legal expenses ,

net loss on extinguishment of debt net loss on extinguishment of debt for the years ended december 31 , 2019 and 2018 was approximately $ 2.6 million and none , respectively . the increase in net loss on debt extinguishment is primarily attributable to prepayment penalties related to the early pay off of the raleigh/myrtle beach promissory note , and the write-off of unamortized debt issuance costs on loans that were paid off in connection with the ssgt mergers and the loans that were paid off in connection with the issuance of series a convertible preferred stock . gain resulting from acquisition of unconsolidated affiliates gain resulting from acquisition of unconsolidated affiliates for the years ended december 31 , 2019 and 2018 was approximately $ 8.0 million and none , respectively . the gain was related to our remeasurement to fair value of the tenant programs joint ventures upon our acquisition of 100 % of such entities in the self administration transaction . 52 gain on sale of real estate gain on sale of real estate for the years ended december 31 , 2019 and 2018 was approximately $ 3.9 million and none , respectively . the gain was related to the october 18 , 2019 sale of a self storage facility we owned in san antonio , texas ( the “ san antonio ii property ” ) . other other for the years ended december 31 , 2019 and 2018 represented net expenses of approximately $ 0.6 million and $ 0.7 million , respectively . other consists primarily of state and federal tax expense , accretion of deferred tax liabilities , foreign currency fluctuations , and changes in value related to our foreign currency and interest rate hedges not designated for hedge accounting .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```net loss on extinguishment of debt net loss on extinguishment of debt for the years ended december 31 , 2019 and 2018 was approximately $ 2.6 million and none , respectively . the increase in net loss on debt extinguishment is primarily attributable to prepayment penalties related to the early pay off of the raleigh/myrtle beach promissory note , and the write-off of unamortized debt issuance costs on loans that were paid off in connection with the ssgt mergers and the loans that were paid off in connection with the issuance of series a convertible preferred stock . gain resulting from acquisition of unconsolidated affiliates gain resulting from acquisition of unconsolidated affiliates for the years ended december 31 , 2019 and 2018 was approximately $ 8.0 million and none , respectively . the gain was related to our remeasurement to fair value of the tenant programs joint ventures upon our acquisition of 100 % of such entities in the self administration transaction . 52 gain on sale of real estate gain on sale of real estate for the years ended december 31 , 2019 and 2018 was approximately $ 3.9 million and none , respectively . the gain was related to the october 18 , 2019 sale of a self storage facility we owned in san antonio , texas ( the “ san antonio ii property ” ) . other other for the years ended december 31 , 2019 and 2018 represented net expenses of approximately $ 0.6 million and $ 0.7 million , respectively . other consists primarily of state and federal tax expense , accretion of deferred tax liabilities , foreign currency fluctuations , and changes in value related to our foreign currency and interest rate hedges not designated for hedge accounting .
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 Suspicious Activity Report : ssgt was focused on opportunistic self storage properties , including development , and lease-up properties . see note 3 , real estate facilities—merger with strategic storage growth trust , inc. , for additional information related to the ssgt mergers . in our initial public offering , which commenced on january 10 , 2014 and ended on january 9 , 2017 , we offered a maximum of $ 1.0 billion in common shares for sale to the public ( the “ primary offering ” ) and $ 95.0 million in common shares for sale pursuant to our distribution reinvestment plan ( collectively , the “ offering ” ) and sold approximately 48.4 million class a shares and approximately 7.3 million class t shares for approximately $ 493 million and $ 73 million , respectively . 45 as of december 31 , 2019 , we owned 112 self storage properties located in 17 states ( alabama , arizona , california , colorado , florida , illinois , indiana , maryland , massachusetts , michigan , new jersey , nevada , north carolina , ohio , south carolina , texas and washington ) and ontario , canada ( the greater toronto area ) comprising of approximately 72,0 00 units and approximately 8.2 million rentable square feet . critical accounting policies we have established accounting policies which conform to generally accepted accounting principles ( “ gaap ” ) . preparing financial statements in conformity with gaap requires management to use judgment in the application of accounting policies , including making estimates and assumptions . following is a discussion of the estimates and assumptions used in setting accounting policies that we consider critical in the presentation of our financial statements . many estimates and assumptions involved in the application of gaap may have a material impact on our financial condition or operating performance , or on the comparability of such information to amounts reported for other periods , because of the subjectivity and judgment required to account for highly uncertain items or the susceptibility of such items to change . these estimates and assumptions affect our reported amounts of assets and liabilities , our disclosure of contingent assets and liabilities at the dates of the financial statements and our reported amounts of revenue and expenses during the period covered by this report . if management 's judgment or interpretation of the facts and circumstances relating to various transactions had been different , it is possible that different accounting policies would have been applied or different amounts of assets , liabilities , revenues and expenses would have been recorded , thus resulting in a materially different presentation of the financial statements or materially different amounts being reported in the financial statements . additionally , other companies may use different estimates and assumptions that may impact the comparability of our financial condition and results of operations to those companies . we believe that our critical accounting policies include the following : real estate purchase price allocations ; the evaluation of whether any of our long-lived assets have been impaired ; the valuation of goodwill and related impairment considerations , the valuation of our trademarks and related impairment considerations , the determination of the useful lives of our long-lived assets ; and the evaluation of the consolidation of our interests in joint ventures . the following discussion of these policies supplements , but does not supplant the description of our significant accounting policies , as contained in note 2 of the notes to the consolidated financial statements contained in this report , and is intended to present our analysis of the uncertainties involved in arriving upon and applying each policy . real estate purchase price allocation we account for acquisitions in accordance with gaap which requires that we allocate the purchase price of a property to the tangible and intangible assets acquired and the liabilities assumed based on their relative fair values . this guidance requires us to make significant estimates and assumptions , including fair value estimates , which requires the use of significant unobservable inputs as of the acquisition date . the value of the tangible assets , consisting of land and buildings is determined as if vacant . because we believe that substantially all of the leases in place at properties we will acquire will be at market rates , as the majority of the leases are month-to-month contracts , we do not expect to allocate any portion of the purchase prices to above or below market leases . we also consider whether in-place , market leases represent an intangible asset . acquisitions of portfolios of facilities are allocated to the individual facilities based upon an income approach or a cash flow analysis using appropriate risk adjusted capitalization rates which take into account the relative size , age , and location of the individual facility along with current and projected occupancy and rental rate levels or appraised values , if available . our allocations of purchase prices are based on certain significant estimates and assumptions , variations in such estimates and assumptions could result in a materially different presentation of the consolidated financial statements or materially different amounts being reported in the consolidated financial statements . impairment of long-lived assets the majority of our assets consist of long-lived real estate assets as well as intangible assets related to our acquisitions . we evaluate such assets for impairment based on events and changes in circumstances that may arise in the future and that may impact the carrying amounts of our long-lived assets . when indicators of potential impairment are present , we will assess the recoverability of the particular asset by determining whether the carrying value of the asset will be recovered , through an evaluation of the undiscounted future operating cash flows expected from the use of the asset and its eventual disposition . this evaluation is based on a number of estimates and assumptions . story_separator_special_tag the increase in total self storage revenues of approximately $ 22.8 million , or 28.3 % , is primarily attributable to the 28 operating self storage facilities acquired in january 2019 and one operating property acquired in july 2019 in connection with the ssgt mergers ( approximately $ 22.0 million ) , incremental tenant program revenues generated on our wholly owned assets primarily as a result of the self administration transaction ( approximately $ 1.5 million ) , and same-store increases , excluding the impact of the incremental tenant program revenues , of approximately $ 1.1 million , or 1.6 % ( see same-store facility results table and related footnotes for the years ended december 31 , 2019 and 2018 for further discussion ) , partially offset by the impact of adopting asu 2016-02 , which reduced total self storage revenues by approximately $ 1.7 million as amounts previously recorded to bad debt expense within property operating expenses are now presented as a reduction to self storage rental revenue . we expect total self storage revenues to increase in future periods as the ssgt properties become economically and physically stabilized . managed reit platform revenue managed reit platform revenue for the years ended december 31 , 2019 and 2018 was approximately $ 3.1 million and none , respectively . such revenue consisted of approximately $ 1.5 million of asset management fee revenue , approximately $ 0.7 million of property management fee revenue and approximately $ 0.9 million of other revenue earned pursuant to our management contracts with the managed reits . this revenue was derived from the managed reit platform business , effective june 28 , 2019 , as a result of the self administration transaction . we expect our managed reit platform revenue will grow in future periods as we own the platform for the full fiscal period and as our managed reits acquire additional properties . 50 reimbursable costs from managed reits reimbursable costs from managed reits for the years ended december 31 , 2019 and 2018 were approximately $ 3.3 million and none , respectively . such revenues consist of costs incurred by us as we provide property management and advisory services to the managed reits , which are reimbursed by our managed reits , pursuant to our related contracts with the managed reits . we expect reimbursable costs from managed reits to increase in future periods as we own the platform for the full fiscal period and as our managed reits acquire additional properties . property operating expenses property operating expenses for the years ended december 31 , 2019 and 2018 were approximately $ 35.7 million ( or 34.6 % of self storage revenue ) and $ 25.2 million ( or 31.4 % of self storage revenue ) , respectively . property operating expenses includes the costs to operate our facilities including payroll expense , utilities , insurance , real estate taxes , and marketing . the increase in property operating expenses of approximately $ 10.5 million , is primarily attributable to the 28 operating self storage facilities acquired in january 2019 and one operating property acquired in july 2019 in connection with the ssgt mergers ( approximately $ 9.4 million ) , an increase of approximately $ 0.5 million related to increased compensation expense as a result of the self administration transaction , and an increase in same-store operating expenses of approximately $ 1.6 million , primarily attributable to repairs and maintenance , and property taxes , partially offset by the impact of adopting asu 2016-02 , which reduced 2019 same store property operating expenses by approximately $ 1.2 million . we expect property operating expenses to decrease as a percentage of revenue as overall occupancy grows and therefore revenues increases , particularly in the ssgt properties . property operating expenses – affiliates property operating expenses – affiliates for the years ended december 31 , 2019 and 2018 were approximately $ 6.6 million and $ 10.3 million , respectively . property operating expenses – affiliates includes property management fees and asset management fees . the decrease in property operating expenses – affiliates of approximately $ 3.6 million is primarily attributable to the self administration transaction , offset by costs related to the 28 operating self storage facilities acquired in january 2019 in connection with the ssgt mergers . as a result of the self administration transaction , we no longer incur such expenses . managed reit platform expenses managed reit platform expenses for the years ended december 31 , 2019 and 2018 were approximately $ 2.7 million and none , respectively . such expenses primarily consisted of expenses related to the administrative services agreement ( as defined in note 4 , self administration transaction , of the notes to the consolidated financial statements contained in this report ) , and other non-reimbursable costs associated with the operation of the managed reit platform we acquired on june 28 , 2019. we expect managed reit platform expenses to increase in future periods as we own the platform for the full fiscal period and , to a lesser extent , as our managed reits acquire additional properties . reimbursable costs from managed reits reimbursable costs from managed reits for the years ended december 31 , 2019 and 2018 were approximately $ 3.3 million and none , respectively . such expenses consist of costs incurred by us as we provide property management and advisory services to the managed reits , which are reimbursed by our managed reits , pursuant to our related contracts with the managed reits . we expect reimbursable costs from managed reits to increase in future periods as we own the platform for the full fiscal period and as our managed reits acquire additional properties . general and administrative expenses general and administrative expenses for the years ended december 31 , 2019 and 2018 were approximately $ 10.5 million and $ 4.8 million , respectively . such expenses have historically consisted primarily of legal expenses ,

