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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
ASSETS    
Storage properties $ 7,323,638 $ 7,295,778
Less: Accumulated depreciation (1,333,907) (1,247,775)
Storage properties, net (including VIE assets of $142,326 and $167,180, respectively) 5,989,731 6,048,003
Cash and cash equivalents 9,220 6,064
Restricted cash 1,925 2,861
Loan procurement costs, net of amortization 4,591 5,182
Investment in real estate ventures, at equity 101,482 105,993
Assets held for sale 2,063 3,745
Other assets, net 172,137 153,982
Total assets 6,281,149 6,325,830
LIABILITIES AND EQUITY    
Unsecured senior notes, net 2,774,420 2,772,350
Revolving credit facility 63,200 60,900
Mortgage loans and notes payable, net 130,070 162,918
Lease liabilities - finance leases 65,727 65,758
Accounts payable, accrued expenses and other liabilities 214,733 213,297
Distributions payable 111,280 111,190
Deferred revenue 40,245 38,757
Security deposits 1,086 1,087
Liabilities held for sale 1,402 1,773
Total liabilities 3,402,163 3,428,030
Noncontrolling interests in the Operating Partnership 63,352 57,419
Commitments and contingencies
Equity    
Common shares $.01 par value, 400,000,000 shares authorized, 224,797,239 and 224,603,462 shares issued and outstanding at June 30, 2023, and December 31, 2022, respectively 2,248 2,246
Additional paid-in capital 4,132,621 4,125,478
Accumulated other comprehensive loss (451) (491)
Accumulated deficit (1,333,148) (1,301,030)
Total CubeSmart shareholders' equity 2,801,270 2,826,203
Noncontrolling interests in subsidiaries 14,364 14,178
Total equity 2,815,634 2,840,381
Total liabilities and equity $ 6,281,149 $ 6,325,830