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INVESTMENT ACTIVITY (Tables) | 3 Months Ended
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Mar. 31, 2017
INVESTMENT ACTIVITY |
Schedule of capitalized costs for investments in storage properties |
|  |  |  |  |  | CubeSmart |  |  |
|  | Number of |  |  |  | Ownership |  | Total
Store Location |  | Stores |  | Date Opened |  | Interest |  | Construction Costs
|  |  |  |  |  |  |  | (in thousands)
North Palm Beach, FL |  | 1 |  | Q1 2017 |  | 100% |  | $ | 9,700
Bronx, NY (1) (2) |  | 1 |  | Q2 2016 |  | 100% |  |  | 32,200
Queens, NY (1) |  | 1 |  | Q1 2016 |  | 100% |  |  | 31,800
|  | 3 |  |  |  |  |  | $ | 73,700
| (1) |  | These properties were previously owned through two separate consolidated joint ventures, of which the Company owned a 51% interest in each. On April 5, 2016, the noncontrolling member in the venture that owned the Queens, NY store put its 49% interest in the venture to the Company for $12.5 million. On August 12, 2016, the noncontrolling member in the venture that owned the Bronx, NY store put its 49% interest in the venture to the Company for $17.0 million.
| (2) |  | This store is subject to a ground lease.

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- Definition Tabular disclosure of the capitalized costs for investments in storage properties. + References No definition available. + Details
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