Below are the financial statements of CubeSmart, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2024 as of 2024-12-31 | 2023 as of 2023-12-31 |
|---|---|---|
| Assets | — | — |
| Storage properties | 7,628.77a | 7,367.61a |
| Less: accumulated depreciation | -1,590.59a | -1,416.38a |
| Storage properties, net | 6,038.19a | 5,951.24a |
| Cash and cash equivalents | 71.56a | 6.53a |
| Restricted cash | 6.1a | 1.69a |
| Loan procurement costs, net of amortization | 2.73a | 4a |
| Investment in real estate ventures, at equity | 91.97a | 98.29a |
| Other assets, net | 183.63a | 163.28a |
| Total assets | 6,394.18a | 6,225.02a |
| Unsecured senior notes, net | 2,780.63a | 2,776.49a |
| Revolving credit facility | 0a | 18.1a |
| Mortgage loans and notes payable, net | 205.92a | 128.19a |
| Lease liabilities - finance leases | 65.67a | 65.71a |
| Accounts payable, accrued expenses and other liabilities | 229.58a | 201.42a |
| Distributions payable | 119.6a | 115.82a |
| Deferred revenue | 38.92a | 38.48a |
| Total liabilities | 3,440.31a | 3,344.21a |
| Noncontrolling interests in the operating partnership | 51.19a | 60.28a |
| Equity | — | — |
| Common shares | 2.28a | 2.25a |
| Additional paid-in capital | 4,285.57a | 4,142.23a |
| Accumulated other comprehensive loss | -0.33a | -0.41a |
| Accumulated deficit | -1,415.66a | -1,345.24a |
| Total CubeSmart shareholders’ equity | 2,871.86a | 2,798.83a |
| Noncontrolling interests in subsidiaries | 30.82a | 21.7a |
| Total equity | 2,902.68a | 2,820.53a |
| Total liabilities and equity | 6,394.18a | 6,225.02a |
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