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NONCONTROLLING INTERESTS (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of noncontrolling interests in subsidiaries


		CubeSmart	September 30, 2025
	Number	Ownership	Total		Total		Related Party
Consolidated Joint Ventures	of Stores	Interest	Assets		Liabilities		Loans ⁽¹⁾

			(in thousands)
Hines Capital ("Hines") ⁽²⁾	14	85%	$	175,998	$	117,926	$	—
New Rochelle Investors, LLC ("New Rochelle")	1	70%		40,554		17,801		16,352
1074 Raritan Road, LLC ("Clark")	1	90%		15,399		10,978		10,623
350 Main Street, LLC ("Port Chester")	1	90%		17,430		11,364		10,415
Astoria Investors, LLC ("Astoria")	1	70%		44,769		30,823		29,964
CS Lock Up Anoka, LLC ("Anoka")	1	50%		9,401		5,636		5,540
CS Valley Forge Village Storage, LLC ("VFV")	1	70%		18,016		14,887		14,792
CS Vienna, LLC ("Vienna")	1	80%		28,875		34,587		34,049
SH3, LLC ("SH3")	1	90%		35,695		511		—
	22		$	386,137	$	244,513	$	121,735

(1)

Related party loans represent amounts payable from the joint venture to the Company and are included in total liabilities within the table above. The loans and related party interest have been eliminated for consolidation purposes.

(2)

Consists of seven consolidated joint ventures.