XML 51 R39.htm IDEA: XBRL DOCUMENT
v3.23.1

INVESTMENT ACTIVITY (Details) |  |  |  | 3 Months Ended | 12 Months Ended | 15 Months Ended
--- | --- | --- | --- | --- | --- | ---
Jan. 18, 2023 USD ($) | Apr. 28, 2022 USD ($) | Feb. 02, 2022 USD ($) | Mar. 31, 2023 USD ($) facility | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) facility | Mar. 31, 2023 USD ($) facility
Self-storage facilities |  |  |  |  |  |  |
Number of facilities, construction completed and opened |  |  |  |  |  |  | $ 2
Right-of-use assets - operating leases |  |  |  | $ 49,157,000 |  | $ 49,491,000 | 49,157,000
Construction |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Total Construction Costs |  |  |  |  |  |  | $ 59,000
Self storage under construction |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Number of self-storage facilities | facility |  |  |  | 2 |  |  | 2
Development costs |  |  |  | $ 31,300,000 |  |  | $ 31,300,000
Expected construction cost |  |  |  | $ 64,000,000.0 |  |  | $ 64,000,000.0
Self storage under construction | New York |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Number of self-storage facilities | facility |  |  |  | 1 |  |  | 1
Self storage under construction | New Jersey |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Number of self-storage facilities | facility |  |  |  | 1 |  |  | 1
Self Storage Facility in Valley Stream, NY |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Number of facilities, construction completed and opened |  |  |  |  |  |  | $ 1
Option to put ownership interest in the venture | $ 49 |  |  |  |  |  |
Cash portion of put option paid | $ 15,300,000 |  |  |  |  |  |
Self Storage Facility in Valley Stream, NY | Construction |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Total Construction Costs |  |  |  |  |  |  | 37,200,000
Self Storage Facility in Vienna, VA |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Number of facilities, construction completed and opened |  |  |  |  |  |  | 1
Self Storage Facility in Vienna, VA | Construction |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Total Construction Costs |  |  |  |  |  |  | $ 21,800,000
Self-storage Facility in Bronx, NY |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Lease liability derecognized |  |  | $ 5,000,000.0 |  |  |  |
Right of use Assets derecognized |  |  | 4,100,000 |  |  |  |
2022 Acquisitions |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Number of self-storage facilities acquired | facility |  |  |  |  |  | 3 | 3
Aggregate purchase price |  |  |  |  |  | $ 75,700,000 | $ 75,700,000
Intangible value of the in-place leases |  |  |  |  |  | $ 3,400,000 |
Estimated life |  |  |  |  |  | 12 months |
2022 Acquisitions | Leases, Acquired-in-Place |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Amortization expense |  |  |  | $ 600,000 | $ 200,000 |  |
2022 Acquisitions | Texas |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Number of self-storage facilities acquired | facility |  |  |  |  |  | 1 |
2022 Acquisitions | Maryland |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Number of self-storage facilities acquired | facility |  |  |  |  |  | 1 |
2022 Acquisitions | Georgia |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Number of self-storage facilities acquired | facility |  |  |  |  |  | 1 |
2022 Acquisitions | Self-storage Facility in Bronx, NY |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Aggregate purchase price |  |  | $ 7,500,000 |  |  |  |
2022 Dispositions | LAACO |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Aggregate sale price |  |  |  |  |  | $ 44,000,000.0 |
Gains from sales of real estate, net |  |  |  |  |  | $ 0 |
Joint Venture |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Real estate property acquired, land subject to ground lease |  | $ 6,100,000 |  |  |  |  |
Joint Venture | Acquisitions |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Percentage of interest acquired |  | 20.00% |  |  |  |  |
Joint Venture | Self Storage Facility in Valley Stream, NY |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Ownership interest held by the entity (as a percent) |  |  |  |  |  | 51.00% |
Cubesmart |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Ownership interest by Parent |  |  |  | 99.40% |  |  | 99.40%
Cubesmart | Self Storage Facility in Valley Stream, NY |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Ownership interest held by the entity (as a percent) |  |  |  |  |  |  | 100.00%
Cubesmart | Self Storage Facility in Vienna, VA |  |  |  |  |  |  |
Self-storage facilities |  |  |  |  |  |  |
Ownership interest held by the entity (as a percent) |  |  |  |  |  |  | 80.00%

X
- Definition Amount of total construction cost expected of the projects. + References No definition available. + Details
Name: | cube_ConstructionCostExpected
Namespace Prefix: | cube_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The number of self-storage facilities with construction completed and opened for operation during the period. + References No definition available. + Details
Name: | cube_NumberOfFacilitiesConstructionCompletedAndOpenedForOperation
Namespace Prefix: | cube_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Represents the number of real estate properties that were acquired. + References No definition available. + Details
Name: | cube_NumberOfRealEstatePropertiesAcquired
Namespace Prefix: | cube_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition The number of self-storage facilities involved in transaction. + References No definition available. + Details
Name: | cube_NumberOfSelfStorageFacilities
Namespace Prefix: | cube_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Present value of lessee's discounted obligation for lease payments from operating lease, derecognized. + References No definition available. + Details
Name: | cube_OperatingLeaseLiabilityDerecognized
Namespace Prefix: | cube_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of lessee's right to use underlying asset under operating lease, derecognized. + References No definition available. + Details
Name: | cube_OperatingLeaseRightOfUseAssetDerecognized
Namespace Prefix: | cube_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Represents the option to put ownership interest in the venture. + References No definition available. + Details
Name: | cube_OptionToPutOwnershipInterestInVenture
Namespace Prefix: | cube_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Cash portion of put option paid. + References No definition available. + Details
Name: | cube_OptionToPutOwnershipInterestInVentureCashPortion
Namespace Prefix: | cube_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Real estate property acquired, land subject to ground lease. + References No definition available. + Details
Name: | cube_RealEstatePropertyAcquisitionLandSubjectToGroundLease
Namespace Prefix: | cube_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a)(2) -URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 45 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=6388964&loc=d3e16225-109274 + Details
Name: | us-gaap_AmortizationOfIntangibleAssets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Percentage of voting equity interests acquired at the acquisition date in the business combination. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- 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 https://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 https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 + Details
Name: | us-gaap_CostOfGoodsAndServicesSold
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- 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 https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910 + Details
Name: | us-gaap_DevelopmentInProcess
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- 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
Name: | us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. + References No definition available. + Details
Name: | us-gaap_FiniteLivedIntangibleAssetUsefulLife
Namespace Prefix: | us-gaap_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition The difference between the carrying value and the sale price of real estate or properties that were intended to be sold or held for capital appreciation or rental income. This element refers to the gain (loss) included in earnings and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=126905981&loc=d3e2443-110228 + Details
Name: | us-gaap_GainLossOnSaleOfProperties
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The parent entity's interest in net assets of the subsidiary, expressed as a percentage. + References No definition available. + Details
Name: | us-gaap_MinorityInterestOwnershipPercentageByParent
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount of lessee's right to use underlying asset under operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 45 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123391704&loc=SL77918627-209977 + Details
Name: | us-gaap_OperatingLeaseRightOfUseAsset
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3213-108585 + Details
Name: | us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3179-108585 + Details
Name: | us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_RealEstatePropertiesLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage of the Variable Interest Entity's (VIE) voting interest owned by (or beneficial interest in) the reporting entity (directly or indirectly). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=123419778&loc=SL6759159-111685 + Details
Name: | us-gaap_VariableInterestEntityOwnershipPercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | srt_ProductOrServiceAxis=us-gaap_ConstructionMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | cube_ScheduleOfRealEstateInvestmentPropertyAxis=cube_SelfStorageFacilitiesUnderConstructionMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_StatementGeographicalAxis=stpr_NY
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_StatementGeographicalAxis=stpr_NJ
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | cube_ScheduleOfRealEstateInvestmentPropertyAxis=cube_SelfStorageFacilityInValleyStreamNyMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | cube_ScheduleOfRealEstateInvestmentPropertyAxis=cube_SelfStorageFacilityInViennaVirginiaMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | cube_ScheduleOfRealEstateInvestmentPropertyAxis=cube_SelfStorageFacilityInBronxNewYorkMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_PropertyPlantAndEquipmentByTypeAxis=cube_RealEstateAcquisitions2022Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_LeasesAcquiredInPlaceMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_StatementGeographicalAxis=stpr_TX
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_StatementGeographicalAxis=stpr_MD
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_StatementGeographicalAxis=stpr_GA
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_PropertyPlantAndEquipmentByTypeAxis=cube_Dispositions2022Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_AssetAcquisitionAxis=cube_LaacoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_OwnershipAxis=cube_JointVentureMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_BusinessAcquisitionAxis=us-gaap_SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_OwnershipAxis=cube_CubesmartMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |