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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
ASSETS    
Storage properties $ 7,303,888 $ 7,295,778
Less: Accumulated depreciation (1,290,075) (1,247,775)
Storage properties, net (including VIE assets of $131,605 and $167,180, respectively) 6,013,813 6,048,003
Cash and cash equivalents 5,510 6,064
Restricted cash 3,272 2,861
Loan procurement costs, net of amortization 4,907 5,182
Investment in real estate ventures, at equity 103,687 105,993
Assets held for sale 3,764 3,745
Other assets, net 156,052 153,982
Total assets 6,291,005 6,325,830
LIABILITIES AND EQUITY    
Unsecured senior notes, net 2,773,385 2,772,350
Revolving credit facility 61,400 60,900
Mortgage loans and notes payable, net 161,711 162,918
Lease liabilities - finance leases 65,740 65,758
Accounts payable, accrued expenses and other liabilities 188,199 213,297
Distributions payable 111,215 111,190
Deferred revenue 39,484 38,757
Security deposits 1,077 1,087
Liabilities held for sale 1,633 1,773
Total liabilities 3,403,844 3,428,030
Noncontrolling interests in the Operating Partnership 65,565 57,419
Commitments and contingencies
Equity    
Common shares $.01 par value, 400,000,000 shares authorized, 224,671,525 and 224,603,462 shares issued and outstanding at March 31, 2023, and December 31, 2022, respectively 2,247 2,246
Additional paid-in capital 4,128,563 4,125,478
Accumulated other comprehensive loss (471) (491)
Accumulated deficit (1,322,576) (1,301,030)
Total CubeSmart shareholders' equity 2,807,763 2,826,203
Noncontrolling interests in subsidiaries 13,833 14,178
Total equity 2,821,596 2,840,381
Total liabilities and equity $ 6,291,005 $ 6,325,830