XML 81 R62.htm IDEA: XBRL DOCUMENT v3.25.0.1
INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURE (Details)
$ in Thousands
12 Months Ended
Aug. 30, 2022
USD ($)
facility
Dec. 31, 2024
USD ($)
property
Dec. 31, 2023
USD ($)
property
Dec. 31, 2022
USD ($)
Dec. 09, 2021
facility
Investment in Unconsolidated Real Estate Venture          
Investment in real estate entities   $ 91,973 $ 98,288    
Equity method investment, difference between carrying amount and underlying equity   31,000 31,800    
Acquisitions of storage facilities   42,402 22,429 $ 89,004  
Investments in real estate ventures   (1,301) (21) (21)  
Credit facility, outstanding     18,100    
Principal amount of debt   2,800,000 2,800,000    
Total liabilities   3,440,313 3,344,212    
ASSETS          
Storage facilities, net   6,038,186 5,951,236 6,048,003  
Total assets   6,394,181 6,225,020    
Equity          
CubeSmart   2,871,856 2,798,828    
Joint venture partners   30,819 21,704    
Total liabilities and equity   6,394,181 6,225,020    
Total revenues   1,066,231 1,050,334 1,009,624  
Net income   391,885 412,435 292,472  
Company's share of net income (loss)   2,499 6,085 48,877  
HVPSE          
Investment in Unconsolidated Real Estate Venture          
Number of assets sold | facility 14        
Aggregate sale price $ 235,000        
ASSETS          
Total assets   0      
Ventures          
ASSETS          
Storage facilities, net   684,067 715,142    
Other assets   17,126 10,382    
Total assets   701,193 725,524    
LIABILITIES AND CAPITAL          
Debt   472,633 470,573    
Other liabilities   17,462 18,557    
Equity          
CubeSmart   60,993 66,446    
Joint venture partners   150,105 169,948    
Total liabilities and equity   701,193 725,524    
Total revenues   100,049 99,442 102,910  
Operating expenses   (41,096) (40,677) (42,408)  
Other income (expenses)   (422) (347) (484)  
Interest expense, net   (25,570) (17,189) (15,568)  
Depreciation and amortization   (29,404) (30,607) (36,866)  
Gains from sales of real estate, net       114,107  
Net income   3,557 10,622 $ 121,691  
Ventures          
Investment in Unconsolidated Real Estate Venture          
Investment in real estate entities   $ 91,973 $ 98,288    
Number of storage facilities owned by investee | property   77 77    
Fontana          
Investment in Unconsolidated Real Estate Venture          
Investment in real estate entities   $ 13,200 $ 13,575    
Ownership interest in partnership (as a percent)   50.00%     50.00%
Equity method investment, difference between carrying amount and underlying equity   $ 12,400      
Number of storage facilities owned by investee   1 1   1
RCSS          
Investment in Unconsolidated Real Estate Venture          
Investment in real estate entities   $ 20,107 $ 20,679    
Ownership interest in partnership (as a percent)   50.00%     50.00%
Equity method investment, difference between carrying amount and underlying equity   $ 18,600      
Number of storage facilities owned by investee | property   1 1    
HVP V          
Investment in Unconsolidated Real Estate Venture          
Investment in real estate entities   $ 11,353 $ 12,759    
Ownership interest in partnership (as a percent)   20.00%      
Number of storage facilities owned by investee | property   6 6    
HVPSE          
Investment in Unconsolidated Real Estate Venture          
Ownership interest in partnership (as a percent)   10.00%      
Proceeds from venture related to real estate contribution     $ 1,700    
HVP IV          
Investment in Unconsolidated Real Estate Venture          
Investment in real estate entities   $ 14,591 $ 17,085    
Ownership interest in partnership (as a percent)   20.00%      
Number of storage facilities owned by investee | property   28 28    
HHFNE          
Investment in Unconsolidated Real Estate Venture          
Investment in real estate entities   $ 1,469 $ 951    
Ownership interest in partnership (as a percent)   10.00%      
Number of storage facilities owned by investee | property   13 13    
HHF          
Investment in Unconsolidated Real Estate Venture          
Investment in real estate entities   $ 31,253 $ 33,239    
Ownership interest in partnership (as a percent)   50.00%      
Number of storage facilities owned by investee | property   28 28