<SEC-DOCUMENT>0001225208-12-013489.txt : 20120601
<SEC-HEADER>0001225208-12-013489.hdr.sgml : 20120601
<ACCEPTANCE-DATETIME>20120601083717
ACCESSION NUMBER:		0001225208-12-013489
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20120530
FILED AS OF DATE:		20120601
DATE AS OF CHANGE:		20120601

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			JERNIGAN DEAN
		CENTRAL INDEX KEY:			0001198348

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32324
		FILM NUMBER:		12881870

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CubeSmart
		CENTRAL INDEX KEY:			0001298675
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				201024732
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		460 E. SWEDESFORD ROAD
		STREET 2:		SUITE 3000
		CITY:			WAYNE
		STATE:			PA
		ZIP:			19087
		BUSINESS PHONE:		610-293-5700

	MAIL ADDRESS:	
		STREET 1:		460 E. SWEDESFORD ROAD
		STREET 2:		SUITE 3000
		CITY:			WAYNE
		STATE:			PA
		ZIP:			19087

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	U-Store-It Trust
		DATE OF NAME CHANGE:	20040727
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc4.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0305</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2012-05-30</periodOfReport>

    <issuer>
        <issuerCik>0001298675</issuerCik>
        <issuerName>CubeSmart</issuerName>
        <issuerTradingSymbol>CUBE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001198348</rptOwnerCik>
            <rptOwnerName>JERNIGAN DEAN</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>460 EAST SWEDESFORD ROAD</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 3000</rptOwnerStreet2>
            <rptOwnerCity>WAYNE</rptOwnerCity>
            <rptOwnerState>PA</rptOwnerState>
            <rptOwnerZipCode>19087</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <officerTitle>CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Performance Share Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2012-05-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>274668.0000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.0000</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>274668.0000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>274668.0000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Each Performance Share Unit represents a contingent right to earn common shares subject to the Reporting Person's continued service through December 31, 2013 (the &quot;Vesting Date&quot;).  The number of common shares, if any, to be issued to the Reporting Person will equal the product of (i) 274,668 multiplied by (ii) a conversion factor (not to exceed 1.50) equal to the average closing price of the Company's common shares for the 30-trading days preceding June 30, 2014 (the &quot;Average Price&quot;) divided by $11.32, provided that if the Average Price is less than $5.66 then no shares will be issued.  In the event of the Reporting Person's  death, disability, termination without cause or for good reason, or upon a change of control prior to June 30, 2014, the conversion factor shall be fixed at one.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Douglas J. Tyrell, Attorney-in-Fact</signatureName>
        <signatureDate>2012-05-31</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
