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UNSECURED SENIOR NOTES (Details) $ in Thousands |  | 3 Months Ended |
--- | --- | --- | ---
Apr. 04, 2017 USD ($) | Mar. 31, 2017 USD ($) | Dec. 31, 2016 USD ($)
Mortgage loans and Notes payable |  |  |
Less: Loan procurement costs, net |  | $ (2,038) | $ (2,150)
Total unsecured senior notes, net |  | 1,039,423 | 1,039,076
CubeSmart, L.P. and Subsidiaries |  |  |
Mortgage loans and Notes payable |  |  |
Less: Loan procurement costs, net |  | (2,038) | (2,150)
Total unsecured senior notes, net |  | 1,039,423 | 1,039,076
Senior Notes |  |  |
Mortgage loans and Notes payable |  |  |
Carrying value |  | 1,050,000 | 1,050,000
Less: Discount on issuance of notes, net |  | (3,846) | (3,971)
Less: Loan procurement costs, net |  | (6,731) | (6,953)
Total unsecured senior notes, net |  | $ 1,039,423 | 1,039,076
Senior Notes | Maximum |  |  |
Mortgage loans and Notes payable |  |  |
Consolidated leverage ratio |  | 0.60 |
Secured debt leverage ratio |  | 0.40 |
Senior Notes | Minimum |  |  |
Mortgage loans and Notes payable |  |  |
Consolidated interest coverage ratio |  | 1.50 |
Financial and customary covenant, minimum unencumbered asset (as a percent) |  | 150.00% |
Senior notes 4.800% due 2022 |  |  |
Mortgage loans and Notes payable |  |  |
Senior notes, principal amount |  | $ 250,000 |
Interest rate (as a percent) |  | 4.80% |
Carrying value |  | $ 250,000 | 250,000
Effective interest rate of senior notes (as a percent) |  | 4.82% |
Senior notes 4.375% due 2023 |  |  |
Mortgage loans and Notes payable |  |  |
Senior notes, principal amount |  | $ 250,000 |
Interest rate (as a percent) |  | 4.375% |
Carrying value |  | $ 250,000 | 250,000
Effective interest rate of senior notes (as a percent) |  | 4.50% |
Senior notes 4.375% due 2023 | CubeSmart, L.P. and Subsidiaries | Subsequent event |  |  |
Mortgage loans and Notes payable |  |  |
Interest rate (as a percent) | 4.375% |  |
Effective interest rate of senior notes (as a percent) | 3.495% |  |
Proceeds from senior notes | $ 50,000 |  |
Senior notes 4.000% due 2025 |  |  |
Mortgage loans and Notes payable |  |  |
Senior notes, principal amount |  | $ 250,000 |
Interest rate (as a percent) |  | 4.00% |
Carrying value |  | $ 250,000 | 250,000
Effective interest rate of senior notes (as a percent) |  | 4.03% |
Senior notes 4.000% due 2025 | CubeSmart, L.P. and Subsidiaries | Subsequent event |  |  |
Mortgage loans and Notes payable |  |  |
Interest rate (as a percent) | 4.00% |  |
Effective interest rate of senior notes (as a percent) | 3.811% |  |
Proceeds from senior notes | $ 50,000 |  |
Senior Notes 3.125% Due 2026 |  |  |
Mortgage loans and Notes payable |  |  |
Senior notes, principal amount |  | $ 300,000 |
Interest rate (as a percent) |  | 3.125% |
Carrying value |  | $ 300,000 | $ 300,000
Effective interest rate of senior notes (as a percent) |  | 3.18% |

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