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v3.21.2

INVESTMENT ACTIVITY (Details) |  |  |  |  |  |  | 3 Months Ended | 6 Months Ended | 12 Months Ended | 18 Months Ended
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Jun. 29, 2021 USD ($) | Jun. 28, 2021 | Dec. 22, 2020 USD ($) | Sep. 29, 2020 USD ($) shares | Sep. 28, 2020 | Jul. 20, 2020 USD ($) | Jun. 30, 2021 USD ($) property facility | Mar. 31, 2021 property | Jun. 30, 2020 USD ($) | Jun. 30, 2021 USD ($) facility property | Jun. 30, 2020 USD ($) | Dec. 31, 2020 USD ($) item property facility | Jun. 30, 2021 USD ($) property facility
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Number of facilities, construction completed and opened |  |  |  |  |  |  |  |  |  |  |  |  | $ 4
Construction |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Total Construction Costs |  |  |  |  |  |  |  |  |  |  |  |  | 121,000,000
New York |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Aggregate purchase price |  |  |  |  |  | $ 9,500,000 |  |  |  |  |  |  |
Decrease in right-of-use asset |  |  |  |  |  | (5,100,000) |  |  |  |  |  |  |
Decrease in operating lease liability |  |  |  |  |  | $ (5,000,000.0) |  |  |  |  |  |  |
Cash paid for acquisition |  |  |  | $ 1,000,000.0 |  |  |  |  |  |  |  |  |
Total consideration |  |  |  | $ 10,000,000.0 |  |  |  |  |  |  |  |  |
Units issued (in shares) | shares |  |  |  | 276,497 |  |  |  |  |  |  |  |  |
Units issued |  |  |  | $ 9,000,000.0 |  |  |  |  |  |  |  |  |
Self-storage facilities under contract |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Deposit |  |  |  |  |  |  | $ 400,000 |  |  | $ 400,000 |  |  | 400,000
Expected aggregate purchase or sales price |  |  |  |  |  |  | $ 33,000,000.0 |  |  | $ 33,000,000.0 |  |  | $ 33,000,000.0
Number of facilities under contract | facility |  |  |  |  |  |  | 2 |  |  | 2 |  |  | 2
Self storage under construction |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Number of facilities under contract | property |  |  |  |  |  |  | 3 |  |  | 3 |  |  | 3
Development costs |  |  |  |  |  |  | $ 48,400,000 |  |  | $ 48,400,000 |  |  | $ 48,400,000
Expected construction cost |  |  |  |  |  |  | 75,000,000.0 |  |  | $ 75,000,000.0 |  |  | 75,000,000.0
Self-storage facility in East Meadow, NY |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Total consideration | $ 6,600,000 |  |  |  |  |  |  |  |  |  |  |  |
Number of facilities, construction completed and opened |  |  |  |  |  |  |  |  |  |  |  |  | 1
Self-storage facility in East Meadow, NY | Construction |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Total Construction Costs |  |  |  |  |  |  |  |  |  |  |  |  | 25,900,000
Self-storage facility in King of Prussia, PA |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Number of facilities, construction completed and opened |  |  |  |  |  |  |  |  |  |  |  |  | 1
Self-storage facility in King of Prussia, PA | Construction |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Total Construction Costs |  |  |  |  |  |  |  |  |  |  |  |  | 22,800,000
Self-storage Facility in Brooklyn, NY |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Number of facilities, construction completed and opened |  |  |  |  |  |  |  |  |  |  |  |  | 1
Self-storage Facility in Brooklyn, NY | Construction |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Total Construction Costs |  |  |  |  |  |  |  |  |  |  |  |  | 45,900,000
Self-storage Facility in Arlington, VA |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Number of facilities, construction completed and opened |  |  |  |  |  |  |  |  |  |  |  |  | 1
Self-storage Facility in Arlington, VA | Construction |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Total Construction Costs |  |  |  |  |  |  |  |  |  |  |  |  | 26,400,000
2021 Acquisitions |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Number of self-storage facilities acquired | facility |  |  |  |  |  |  |  |  |  | 2 |  |  |
Aggregate purchase price |  |  |  |  |  |  |  |  |  | $ 34,075,000 |  |  |
Intangible value of the in-place leases |  |  |  |  |  |  | 1,600,000 |  |  | $ 1,600,000 |  |  | $ 1,600,000
Estimated life |  |  |  |  |  |  |  |  |  | 12 months |  |  |
Amortization expense |  |  |  |  |  |  |  |  |  | $ 49,000 |  |  |
2021 Acquisitions | Maryland |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Aggregate purchase price |  |  |  |  |  |  | 22,100,000 |  |  | 22,100,000 |  |  |
2021 Acquisitions | Self-storage facility in Anoka, MN |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Aggregate purchase price |  |  |  |  |  |  |  |  |  | $ 12,000,000.0 |  |  |
Ownership interest held by the entity (as a percent) |  |  |  |  |  |  |  |  |  | 50.00% |  |  |
2020 Acquisitions |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Number of self-storage facilities acquired |  |  |  |  |  |  |  |  |  | 21 |  | 13 |
Aggregate purchase price |  |  |  |  |  |  |  |  |  | $ 735,875,000 |  | $ 195,900,000 |
2020 Acquisitions | Leases, Acquired-in-Place |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Intangible value of the in-place leases |  |  |  |  |  |  |  |  |  |  |  | $ 11,400,000 |
Estimated life |  |  |  |  |  |  |  |  |  |  |  | 12 months |
Amortization expense |  |  |  |  |  |  | 2,400,000 |  | $ 400,000 | 5,200,000 | $ 500,000 |  |
2020 Acquisitions | Texas |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Number of self-storage facilities acquired | property |  |  |  |  |  |  |  |  |  |  |  | 3 |
2020 Acquisitions | Florida |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Number of self-storage facilities acquired | property |  |  |  |  |  |  |  |  |  |  |  | 5 |
2020 Acquisitions | New York |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Number of self-storage facilities acquired | property |  |  |  |  |  |  |  |  |  |  |  | 1 |
2020 Acquisitions | Maryland |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Number of self-storage facilities acquired | property |  |  |  |  |  |  |  |  |  |  |  | 1 |
2020 Acquisitions | Nevada |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Number of self-storage facilities acquired | property |  |  |  |  |  |  |  |  |  |  |  | 1 |
2020 Acquisitions | Virginia |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Number of self-storage facilities acquired | property |  |  |  |  |  |  |  |  |  |  |  | 1 |
2020 Acquisitions | New Jersey |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Number of self-storage facilities acquired | property |  |  |  |  |  |  |  | 1 |  |  |  | 1 |
2020 Acquisitions | Self-storage facilities located in New York |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Number of self-storage facilities acquired | facility |  |  |  |  |  |  |  |  |  |  |  | 8 |
Number of real estate property acquisition tranches | item |  |  |  |  |  |  |  |  |  |  |  | 2 |
Aggregate purchase price |  |  |  |  |  |  |  |  |  |  |  | $ 540,000,000.0 |
Intangible value of the in-place leases |  |  |  |  |  |  |  |  |  |  |  | 48,600,000 |
Cash paid for acquisition |  |  |  |  |  |  |  |  |  |  |  | 210,500,000 |
Issuance of OP Shares |  |  |  |  |  |  |  |  |  |  |  | 175,100,000 |
Repayments of debt |  |  |  |  |  |  |  |  |  |  |  | 33,200,000 |
Units issued |  |  |  |  |  |  |  |  |  |  |  | $ 5,272,023 |
Number of properties, assumed mortgage | item |  |  |  |  |  |  |  |  |  |  |  | 6 |
Assumed mortgage debt, at fair value |  |  |  |  |  |  |  |  |  |  |  | $ 169,200,000 |
Outstanding principal balance of mortgage debt assumed on acquisitions |  |  |  |  |  |  |  |  |  |  |  | 154,400,000 |
Premium on debt assumed on acquisitions |  |  |  |  |  |  |  |  |  |  |  | $ 14,800,000 |
2020 Acquisitions | Self-storage facilities located in New York | Leases, Acquired-in-Place |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Estimated life |  |  |  |  |  |  |  |  |  |  |  | 12 months |
Amortization expense |  |  |  |  |  |  | $ 12,100,000 |  |  | 24,300,000 |  |  |
Number of assumed ground leases | item |  |  |  |  |  |  |  |  |  |  |  | 3 |
Number of facilities acquired with existing ground leases, for which the leases were classifed as finance leases | item |  |  |  |  |  |  |  |  |  |  |  | 2 |
Number of facilities acquired with existing ground leases, for which the leases were classified as operating leases | item |  |  |  |  |  |  |  |  |  |  |  | 1 |
2020 Dispositions |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Aggregate sale price |  |  |  |  |  |  |  |  |  | $ 12,750,000 |  |  |
2020 Dispositions | Self-storage facilities located in New York |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Aggregate sale price |  |  | $ 12,800,000 |  |  |  |  |  |  |  |  |  |
Gains from sale of real estate, net |  |  | $ 6,700,000 |  |  |  |  |  |  |  |  |  |
Joint Venture | Self-storage facility in East Meadow, NY |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Ownership interest held by the entity (as a percent) |  | 51.00% |  |  |  |  |  |  |  |  |  |  |
Minority ownership interest (as a percent) | 49.00% |  |  |  |  |  |  |  |  |  |  |  |
Joint Venture | Self Storage Facility in Bayonne, NJ |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Ownership interest held by the entity (as a percent) |  |  |  |  | 51.00% |  |  |  |  |  |  |  |
Joint Venture | Self Storage Facility in Brooklyn, NY I |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Total consideration |  |  |  | $ 10,000,000.0 |  |  |  |  |  |  |  |  |
Put option ownership percentage in joint venture exercised (as a percent) |  |  |  | 49.00% |  |  |  |  |  |  |  |  |
Cash portion of put option paid |  |  |  | $ 1,000,000.0 |  |  |  |  |  |  |  |  |
Units issued (in shares) | shares |  |  |  | 276,497 |  |  |  |  |  |  |  |  |
Units issued |  |  |  | $ 9,000,000.0 |  |  |  |  |  |  |  |  |
Cubesmart |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Ownership interest by Parent |  |  |  |  |  |  | 96.50% |  |  | 96.50% |  |  | 96.50%
Cubesmart | Self-storage facility in East Meadow, NY |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Ownership interest by Parent |  |  |  |  |  |  | 100.00% |  |  | 100.00% |  |  | 100.00%
Cubesmart | Self-storage facility in King of Prussia, PA |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Ownership interest by Parent |  |  |  |  |  |  | 70.00% |  |  | 70.00% |  |  | 70.00%
Cubesmart | Self-storage Facility in Brooklyn, NY |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Ownership interest by Parent |  |  |  |  |  |  | 100.00% |  |  | 100.00% |  |  | 100.00%
Cubesmart | Self-storage Facility in Arlington, VA |  |  |  |  |  |  |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Ownership interest by Parent |  |  |  |  |  |  | 90.00% |  |  | 90.00% |  |  | 90.00%

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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 924 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 11.L) -URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2(a),(d)) -URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227 + Details
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- Definition The current amount of expenditures for a real estate project that has not yet been completed. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.10) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 + Details
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- Definition This element represents the amount of value allocated by a lessor (acquirer) to lease agreements which exist at acquisition of a leased property. Such amount may include the value assigned to existing tenant relationships and excludes the market adjustment component of the value assigned for above or below-market leases acquired. + References No definition available. + Details
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- Definition The cash outflow associated with the acquisition of business during the period. The cash portion only of the acquisition price. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b)(1) -URI http://asc.fasb.org/extlink&oid=120321790&loc=d3e6927-128479 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121586364&loc=d3e3213-108585 + Details
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