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INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURE (Tables) | 12 Months Ended
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Dec. 31, 2014
INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES |
Summary of the financial position of the HHF venture | The following is a summary of the financial position of the HHF venture as of December 31, 2014 and 2013 (in thousands):
|  | December 31, |
|  | 2014 |  | 2013 |
Assets |  |  |  |  |
Storage facilities, net |  | $ | 291,357 |  | $ | 302,557 |
Other assets |  | 5,786 |  | 11,688 |
Total assets |  | $ | 297,143 |  | $ | 314,245 |
Liabilities and equity |  |  |  |  |
Other liabilities |  | $ | 5,725 |  | $ | 1,625 |
Debt |  | 100,000 |  | — |
Equity |  |  |  |  |
CubeSmart |  | 95,709 |  | 156,310 |
Joint venture partner |  | 95,709 |  | 156,310 |
Total liabilities and equity |  | $ | 297,143 |  | $ | 314,245 |
Summary of results of operations of the Real Estate Venture | The following is a summary of results of operations of the real estate ventures for the years ended December 31, 2014, 2013 and 2012 (in thousands).
|  | Year ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
Total revenues |  | $ | 26,852 |  | $ | 1,600 |  | $ | 7,229 |
Operating expenses |  | 11,754 |  | 1,742 |  | 3,010 |
Interest expense, net |  | 2,522 |  | — |  | 2,690 |
Depreciation and amortization |  | 25,086 |  | 2,160 |  | 2,691 |
Net loss |  | (12,510 | ) | (2,302 | ) | (1,162 | )
Company’s share of net loss |  | (6,255 | ) | (1,151 | ) | (745 | )

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