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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
ASSETS    
Storage properties $ 7,295,778 $ 7,183,494
Less: Accumulated depreciation (1,247,775) (1,085,824)
Storage properties, net (including VIE assets of $167,180 and $149,467, respectively) 6,048,003 6,097,670
Cash and cash equivalents 6,064 11,140
Restricted cash 2,861 2,178
Loan procurement costs, net of amortization 5,182 2,322
Investment in real estate ventures, at equity 105,993 119,751
Assets held for sale 3,745 49,313
Other assets, net 153,982 265,705
Total assets 6,325,830 6,548,079
LIABILITIES AND EQUITY    
Unsecured senior notes, net 2,772,350 2,768,209
Revolving credit facility 60,900 209,900
Mortgage loans and notes payable, net 162,918 167,676
Lease liabilities - finance leases 65,758 65,801
Accounts payable, accrued expenses and other liabilities 213,297 199,985
Distributions payable 111,190 97,417
Deferred revenue 38,757 37,144
Security deposits 1,087 1,065
Liabilities held for sale 1,773 2,502
Total liabilities 3,428,030 3,549,699
Noncontrolling interests in the Operating Partnership 57,419 108,220
Commitments and contingencies
Equity    
Common shares $.01 par value, 400,000,000 shares authorized, 224,603,462 and 223,917,993 shares issued and outstanding at December 31, 2022, and 2021, respectively 2,246 2,239
Additional paid-in capital 4,125,478 4,088,392
Accumulated other comprehensive loss (491) (570)
Accumulated deficit (1,301,030) (1,218,498)
Total CubeSmart shareholders' equity 2,826,203 2,871,563
Noncontrolling interests in subsidiaries 14,178 18,597
Total equity 2,840,381 2,890,160
Total liabilities and equity $ 6,325,830 $ 6,548,079