v3.25.2
INVESTMENT ACTIVITY (Details)
$ in Thousands
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended 18 Months Ended
Feb. 20, 2025
USD ($)
facility
Dec. 31, 2024
USD ($)
loan
facility
property
item
Jun. 30, 2025
USD ($)
facility
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
facility
Jun. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
facility
property
Jun. 30, 2025
USD ($)
facility
property
Self-storage facilities                
Number of self-storage facilities acquired | facility             4  
Aggregate purchase price             $ 42,200  
Mortgage loans and notes payable, net   $ 205,915 $ 205,092   $ 205,092   205,915 $ 205,092
Leases, Acquired-in-Place | 2024 Acquisitions                
Self-storage facilities                
Intangible value of the in-place leases   $ 2,000         $ 2,000  
Estimated life   12 months         12 months  
Amortization expense     300 $ 200 600 $ 400    
HVP IV                
Self-storage facilities                
Aggregate purchase price $ 452,800              
Percentage of voting interest acquired 80.00%              
Total consideration $ 466,900              
Acquisition, previously held equity interest 14,100              
Acquisition, gain (loss) recognized 0              
Repayments of debt 44,400              
HVP IV | Leases, Acquired-in-Place                
Self-storage facilities                
Intangible value of the in-place leases $ 32,000              
Estimated life 12 months              
Amortization expense     8,000   $ 10,700      
Joint Venture                
Self-storage facilities                
Ownership interest held by the entity (as a percent)         85.00%   85.00%  
HVP IV                
Self-storage facilities                
Number of self-storage facilities | property   28         28  
Percentage of voting interest acquired 80.00%       80.00%      
Percentage of voting interest previously acquired 20.00%              
Aggregate sale price $ 452,800              
Number of real estate properties owned | facility 28       28      
Repayments of debt $ 44,400       $ 44,400      
HVP IV | Texas                
Self-storage facilities                
Number of real estate properties owned | facility 8              
HVP IV | Florida                
Self-storage facilities                
Number of real estate properties owned | facility 4              
HVP IV | Maryland                
Self-storage facilities                
Number of real estate properties owned | facility 2              
HVP IV | Connecticut                
Self-storage facilities                
Number of real estate properties owned | facility 3              
HVP IV | Pennsylvania                
Self-storage facilities                
Number of real estate properties owned | facility 1              
HVP IV | Arizona                
Self-storage facilities                
Number of real estate properties owned | facility 2              
HVP IV | Illinois                
Self-storage facilities                
Number of real estate properties owned | facility 5              
HVP IV | Georgia                
Self-storage facilities                
Number of real estate properties owned | facility 2              
HVP IV | Minnesota                
Self-storage facilities                
Number of real estate properties owned | facility 1              
Hines Portfolio December 2024                
Self-storage facilities                
Percentage of voting interest acquired             85.00%  
Hines Portfolio December 2024 | Leases, Acquired-in-Place | 2024 Acquisitions                
Self-storage facilities                
Intangible value of the in-place leases   $ 10,100         $ 10,100  
Estimated life   12 months         12 months  
Amortization expense     $ 2,500 $ 0 $ 5,000 $ 0    
Self storage under construction | New York                
Self-storage facilities                
Number of self-storage facilities | facility     2   2     2
Development costs     $ 39,000   $ 39,000     $ 39,000
Expected construction cost     $ 45,700   $ 45,700     $ 45,700
Self Storage Facilities in New York and New Jersey                
Self-storage facilities                
Number of stores | property               2
2025 Acquisitions                
Self-storage facilities                
Number of self-storage facilities acquired | facility         28      
Aggregate purchase price         $ 452,785      
2025 Acquisitions | HVP IV                
Self-storage facilities                
Number of self-storage facilities acquired | facility         28      
Aggregate purchase price         $ 452,785      
2024 Acquisitions                
Self-storage facilities                
Number of self-storage facilities acquired | facility             18  
Aggregate purchase price             $ 199,400  
2024 Acquisitions | Connecticut                
Self-storage facilities                
Number of self-storage facilities acquired | facility             2  
2024 Acquisitions | Oregon                
Self-storage facilities                
Number of self-storage facilities acquired | facility             1  
2024 Acquisitions | Pennsylvania                
Self-storage facilities                
Number of self-storage facilities acquired | facility             1  
2024 Acquisitions | Hines Portfolio December 2024                
Self-storage facilities                
Number of self-storage facilities acquired | facility             14  
Aggregate purchase price   $ 157,300         $ 157,250  
Percentage of voting interest acquired   85.00%            
Number of consolidated joint ventures In portfolio | item   7            
Number of encumbered mortgage loans | loan   2            
Mortgage loans and notes payable, net   $ 115,400         115,400  
Fair value   115,800         115,800  
Aggregate net premium   $ 400         $ 400  
2024 Acquisitions | Hines Portfolio December 2024 | Texas                
Self-storage facilities                
Number of real estate properties owned | facility   14            
2024 Acquisitions | Connecticut Assets January 2024                
Self-storage facilities                
Number of self-storage facilities acquired | facility             2  
Aggregate purchase price             $ 20,200  
2024 Acquisitions | Oregon Asset November 2024                
Self-storage facilities                
Number of self-storage facilities acquired | facility             1  
Aggregate purchase price             $ 10,450  
2024 Acquisitions | Pennsylvania Asset November 2024                
Self-storage facilities                
Number of self-storage facilities acquired | facility             1  
Aggregate purchase price             $ 11,500  
Cubesmart                
Self-storage facilities                
Ownership interest by Parent     99.50%   99.50%     99.50%
Mortgage Loans                
Self-storage facilities                
Mortgage loans and notes payable, net   $ 205,915 $ 205,092   $ 205,092   $ 205,915 $ 205,092