XML 64 R51.htm IDEA: XBRL DOCUMENT v3.25.3
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES (Details)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Feb. 20, 2025
USD ($)
Sep. 30, 2025
USD ($)
property
Sep. 30, 2024
USD ($)
Sep. 30, 2025
USD ($)
property
Sep. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
facility
property
Dec. 09, 2021
facility
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES              
Investment in real estate entities   $ 74,320   $ 74,320   $ 91,973  
Number of self-storage facilities acquired | facility           4  
Acquisitions of storage facilities         $ 20,597    
Investments in real estate ventures       (827) (316)    
Principal amount of debt   3,250,000   3,250,000   $ 2,800,000  
Total liabilities   3,902,720   3,902,720   3,440,313  
ASSETS              
Storage facilities, net   6,377,973   6,377,973   6,038,186  
Total assets   6,757,658   6,757,658   6,394,181  
Equity              
CubeSmart   2,782,136   2,782,136   2,871,856  
Joint venture partners   27,944   27,944   30,819  
Total liabilities and equity   6,757,658   6,757,658   6,394,181  
Total revenues   285,080 $ 270,890 840,419 798,505    
Net income   82,416 100,950 253,593 289,994    
Company's share of net income (loss)   648 418 1,574 1,688    
Ventures              
ASSETS              
Storage facilities, net   371,455   371,455   684,067  
Other assets   16,328   16,328   17,126  
Total assets   387,783   387,783   701,193  
LIABILITIES AND CAPITAL              
Debt   249,196   249,196   472,633  
Other liabilities   8,391   8,391   17,462  
Equity              
CubeSmart   43,987   43,987   60,993  
Joint venture partners   86,209   86,209   150,105  
Total liabilities and equity   387,783   387,783   701,193  
Total revenues   14,639 25,395 49,057 74,821    
Operating expenses   (6,232) (10,362) (21,405) (31,277)    
Other income (expenses)   10 (99) (228) (316)    
Interest expense, net   (3,083) (7,399) (11,024) (18,633)    
Depreciation and amortization   (4,101) (7,283) (14,453) (22,223)    
Net income   1,233 252 1,947 2,372    
Ventures              
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES              
Investment in real estate entities   $ 74,320   $ 74,320   $ 91,973  
Number of storage facilities owned by investee | property   49   49   77  
Equity              
Company's share of net income (loss)   $ 648 $ 418 $ 1,574 $ 1,688    
Fontana              
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES              
Investment in real estate entities   $ 12,935   $ 12,935   $ 13,200  
Ownership interest in partnership (as a percent)   50.00%   50.00%     50.00%
Equity method investment, difference between carrying amount and underlying equity   $ 12,200   $ 12,200      
Number of storage facilities owned by investee   1   1   1 1
RCSS              
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES              
Investment in real estate entities   $ 19,717   $ 19,717   $ 20,107  
Ownership interest in partnership (as a percent)   50.00%   50.00%     50.00%
Equity method investment, difference between carrying amount and underlying equity   $ 18,200   $ 18,200      
Number of storage facilities owned by investee | property   1   1   1  
HVP V              
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES              
Investment in real estate entities   $ 10,903   $ 10,903   $ 11,353  
Ownership interest in partnership (as a percent)   20.00%   20.00%      
Number of storage facilities owned by investee | property   6   6   6  
HVP IV              
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES              
Investment in real estate entities           $ 14,591  
Ownership interest in partnership (as a percent)   20.00%   20.00%      
Number of storage facilities owned by investee | property           28  
Aggregate sale price $ 452,800            
Amount of debt repaid $ 44,400     $ 44,400      
HHFNE              
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES              
Investment in real estate entities   $ 1,257   $ 1,257   $ 1,469  
Ownership interest in partnership (as a percent)   10.00%   10.00%      
Number of storage facilities owned by investee | property   13   13   13  
HHF              
INVESTMENTS IN UNCONSOLIDATED REAL ESTATE VENTURES              
Investment in real estate entities   $ 29,508   $ 29,508   $ 31,253  
Ownership interest in partnership (as a percent)   50.00%   50.00%      
Number of storage facilities owned by investee | property   28   28   28