
			CubeSmart
	Number of		Ownership	Total
Store Location	Stores	Date Opened	Interest	Construction Costs
				(in thousands)
Brooklyn, NY	1	Q4 2017	51%	$	49,300
Washington, D.C.	1	Q3 2017	100%		27,800
New York, NY	1	Q3 2017	90%		81,200
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
Brooklyn, NY (3)	1	Q4 2015	100%		14,800
Queens, NY	1	Q4 2015	90%		17,400
Arlington, VA	1	Q2 2015	90%		17,100
	9			$	281,300

(1)

These stores 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.

(3)

During the fourth quarter of 2015, the Company, through a joint venture in which the Company owned a 90% interest and that it previously consolidated, completed the construction and opened for operation a store located in Brooklyn, NY. On June 2, 2017, the Company acquired the noncontrolling member’s 10% interest in the venture for $9.0 million. Prior to this transaction, the noncontrolling member’s interest was reported in Noncontrolling interests in subsidiaries on the consolidated balance sheets. Since the Company retained its controlling interest in the joint venture and the store is now wholly owned, this transaction was accounted for as an equity transaction. The carrying amount of the noncontrolling interest was reduced to zero to reflect the purchase, and the $8.6 million difference between the purchase price paid by the Company and the carrying amount of the noncontrolling interest was recorded as an adjustment to equity attributable to the Company. In conjunction with the Company’s acquisition of the noncontrolling interest, the $9.8 million related party loan extended by the Company to the venture during the construction period was repaid in full.