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CONSOLIDATED STATEMENTS OF OPERATIONS (LP cube) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
REVENUES      
Rental income $ 879,289 $ 707,751 $ 581,009
Total revenues 1,009,624 822,564 679,177
OPERATING EXPENSES      
Property operating expenses 293,260 252,104 223,634
Depreciation and amortization 310,610 232,049 156,573
General and administrative 54,623 47,809 41,423
Total operating expenses 658,493 531,962 421,630
Interest:      
Interest expense on loans (93,284) (78,448) (75,890)
Loan procurement amortization expense (3,897) (8,168) (2,674)
Loss on early extinguishment of debt   (20,328) (18,020)
Equity in earnings of real estate ventures 48,877 25,275 178
Gains from sales of real estate, net   32,698 6,710
Other (10,355) (10,818) (240)
Total other expense (58,659) (59,789) (89,936)
NET INCOME 292,472 230,813 167,611
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS      
Operating Partnership interests of third parties $ (1,931) $ (7,873) $ (1,825)
Diluted earnings per share attributable to common shareholders (in dollars per share) $ 1.29 $ 1.09 $ 0.85
Weighted-average basic units outstanding (in units) 224,928 203,832 194,147
Weighted-average diluted units outstanding (in units) 225,881 205,009 194,943
Weighted average basic shares outstanding (in shares) 224,928 203,832 194,147
Other Property Related Income      
REVENUES      
Property related income $ 96,166 $ 83,605 $ 70,723
Property Management Fee Income      
REVENUES      
Property related income 34,169 31,208 27,445
CubeSmart, L.P. and Subsidiaries      
REVENUES      
Rental income 879,289 707,751 581,009
Total revenues 1,009,624 822,564 679,177
OPERATING EXPENSES      
Property operating expenses 293,260 252,104 223,634
Depreciation and amortization 310,610 232,049 156,573
General and administrative 54,623 47,809 41,423
Total operating expenses 658,493 531,962 421,630
Interest:      
Interest expense on loans (93,284) (78,448) (75,890)
Loan procurement amortization expense (3,897) (8,168) (2,674)
Loss on early extinguishment of debt   (20,328) (18,020)
Equity in earnings of real estate ventures 48,877 25,275 178
Gains from sales of real estate, net   32,698 6,710
Other (10,355) (10,818) (240)
Total other expense (58,659) (59,789) (89,936)
NET INCOME 292,472 230,813 167,611
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS      
Noncontrolling interest in subsidiaries 722 542 (165)
NET INCOME ATTRIBUTABLE TO CUBESMART L.P. 293,194 231,355 167,446
Operating Partnership interests of third parties (1,931) (7,873) (1,825)
NET INCOME ATTRIBUTABLE TO COMMON UNITHOLDERS $ 291,263 $ 223,482 $ 165,621
Basic earnings per unit attributable to common unitholders $ 1.29 $ 1.10 $ 0.85
Diluted earnings per share attributable to common shareholders (in dollars per share) $ 1.29 $ 1.09 $ 0.85
Weighted-average basic units outstanding (in units) 224,928 203,832 194,147
Weighted-average diluted units outstanding (in units) 225,881 205,009 194,943
Weighted average basic shares outstanding (in shares) 224,928 203,832 194,147
CubeSmart, L.P. and Subsidiaries | Other Property Related Income      
REVENUES      
Property related income $ 96,166 $ 83,605 $ 70,723
CubeSmart, L.P. and Subsidiaries | Property Management Fee Income      
REVENUES      
Property related income $ 34,169 $ 31,208 $ 27,445