XML 56 R41.htm IDEA: XBRL DOCUMENT v3.7.0.1
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%