v3.25.2
INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURE (Details)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Feb. 20, 2025
USD ($)
Jun. 30, 2025
USD ($)
property
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
property
Jun. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
property
facility
Dec. 09, 2021
facility
Investment in Unconsolidated Real Estate Venture              
Investment in real estate entities   $ 74,640   $ 74,640   $ 91,973  
Number of self-storage facilities acquired | facility           4  
Acquisitions of storage facilities         $ 20,147    
Investments in real estate ventures         (310)    
Credit facility, outstanding   366,300   366,300      
Principal amount of debt   2,800,000   2,800,000   $ 2,800,000  
Total liabilities   3,820,046   3,820,046   3,440,313  
ASSETS              
Storage facilities, net   6,413,603   6,413,603   6,038,186  
Total assets   6,709,320   6,709,320   6,394,181  
Equity              
CubeSmart   2,813,678   2,813,678   2,871,856  
Joint venture partners   28,708   28,708   30,819  
Total liabilities and equity   6,709,320   6,709,320   6,394,181  
Total revenues   282,303 $ 266,209 555,339 527,615    
Net income   82,432 94,186 171,177 189,044    
Company's share of net income (loss)   547 425 926 1,270    
Ventures              
ASSETS              
Storage facilities, net   374,458   374,458   684,067  
Other assets   13,984   13,984   17,126  
Total assets   388,442   388,442   701,193  
LIABILITIES AND CAPITAL              
Debt   251,838   251,838   472,633  
Other liabilities   7,327   7,327   17,462  
Equity              
CubeSmart   44,091   44,091   60,993  
Joint venture partners   85,186   85,186   150,105  
Total liabilities and equity   388,442   388,442   701,193  
Total revenues   14,296 24,840 34,418 49,426    
Operating expenses   (6,256) (10,540) (15,173) (20,915)    
Other income (expenses)   (128) (111) (238) (217)    
Interest expense, net   (3,013) (6,576) (7,941) (11,234)    
Depreciation and amortization   (4,056) (7,408) (10,352) (14,940)    
Net income   843 205 714 2,120    
Ventures              
Investment in Unconsolidated Real Estate Venture              
Investment in real estate entities   $ 74,640   $ 74,640   $ 91,973  
Number of storage facilities owned by investee | property   49   49   77  
Equity              
Company's share of net income (loss)   $ 547 $ 425 $ 926 $ 1,270    
Fontana              
Investment in Unconsolidated Real Estate Venture              
Investment in real estate entities   $ 13,016   $ 13,016   $ 13,200  
Ownership interest in partnership (as a percent)   50.00%   50.00%     50.00%
Equity method investment, difference between carrying amount and underlying equity   $ 12,300   $ 12,300      
Number of storage facilities owned by investee   1   1   1 1
RCSS              
Investment in Unconsolidated Real Estate Venture              
Investment in real estate entities   $ 19,824   $ 19,824   $ 20,107  
Ownership interest in partnership (as a percent)   50.00%   50.00%     50.00%
Equity method investment, difference between carrying amount and underlying equity   $ 18,300   $ 18,300      
Number of storage facilities owned by investee | property   1   1   1  
HVP V              
Investment in Unconsolidated Real Estate Venture              
Investment in real estate entities   $ 10,490   $ 10,490   $ 11,353  
Ownership interest in partnership (as a percent)   20.00%   20.00%      
Number of storage facilities owned by investee | property   6   6   6  
HVP IV              
Investment in Unconsolidated Real Estate Venture              
Investment in real estate entities           $ 14,591  
Ownership interest in partnership (as a percent)   20.00%   20.00%      
Number of storage facilities owned by investee | property           28  
Aggregate sale price $ 452,800            
Amount of debt repaid $ 44,400     $ 44,400      
HHFNE              
Investment in Unconsolidated Real Estate Venture              
Investment in real estate entities   $ 1,287   $ 1,287   $ 1,469  
Ownership interest in partnership (as a percent)   10.00%   10.00%      
Number of storage facilities owned by investee | property   13   13   13  
HHF              
Investment in Unconsolidated Real Estate Venture              
Investment in real estate entities   $ 30,023   $ 30,023   $ 31,253  
Ownership interest in partnership (as a percent)   50.00%   50.00%      
Number of storage facilities owned by investee | property   28   28   28