UNSECURED SENIOR NOTES (Details)
$ in Thousands |
|
|
|
9 Months Ended |
|
|
Apr. 04, 2017
USD ($)
|
Oct. 26, 2015
USD ($)
|
Dec. 17, 2013
USD ($)
|
Sep. 30, 2017
USD ($)
|
Dec. 31, 2016
USD ($)
|
| Mortgage loans and Notes payable |
|
|
|
|
|
| Less: Loan procurement costs, net |
|
|
|
$ (1,709)
|
$ (2,150)
|
| Total unsecured senior notes, net |
|
|
|
1,142,194
|
1,039,076
|
| CubeSmart, L.P. and Subsidiaries |
|
|
|
|
|
| Mortgage loans and Notes payable |
|
|
|
|
|
| Less: Loan procurement costs, net |
|
|
|
(1,709)
|
(2,150)
|
| Total unsecured senior notes, net |
|
|
|
1,142,194
|
1,039,076
|
| Senior Notes |
|
|
|
|
|
| Mortgage loans and Notes payable |
|
|
|
|
|
| Carrying value |
|
|
|
1,150,000
|
1,050,000
|
| Less: Discount on issuance of notes, net |
|
|
|
(630)
|
(3,971)
|
| Less: Loan procurement costs, net |
|
|
|
(7,176)
|
(6,953)
|
| Total unsecured senior notes, net |
|
|
|
$ 1,142,194
|
1,039,076
|
| Senior Notes | Maximum |
|
|
|
|
|
| Mortgage loans and Notes payable |
|
|
|
|
|
| Consolidated leverage ratio |
|
|
|
0.60
|
|
| Secured debt leverage ratio |
|
|
|
0.40
|
|
| Senior Notes | Minimum |
|
|
|
|
|
| Mortgage loans and Notes payable |
|
|
|
|
|
| Consolidated interest coverage ratio |
|
|
|
1.50
|
|
| Financial and customary covenant, minimum unencumbered asset (as a percent) |
|
|
|
150.00%
|
|
| Senior notes 4.800% due 2022 |
|
|
|
|
|
| Mortgage loans and Notes payable |
|
|
|
|
|
| Senior notes, principal amount |
|
|
|
$ 250,000
|
|
| Interest rate (as a percent) |
|
|
|
4.80%
|
|
| Carrying value |
|
|
|
$ 250,000
|
250,000
|
| Effective interest rate (as a percent) |
|
|
|
4.82%
|
|
| Senior notes 4.375% due 2023 |
|
|
|
|
|
| Mortgage loans and Notes payable |
|
|
|
|
|
| Senior notes, principal amount |
|
|
|
$ 300,000
|
|
| Interest rate (as a percent) |
4.375%
|
|
4.375%
|
4.375%
|
|
| Carrying value |
|
|
|
$ 300,000
|
250,000
|
| Effective interest rate (as a percent) |
3.495%
|
|
4.501%
|
4.33%
|
|
| Effective weighted average interest rate (as a percent) |
|
|
|
4.33%
|
|
| Proceeds from senior notes |
$ 50,000
|
|
$ 250,000
|
|
|
| Debt instrument, redemption percentage |
105.04%
|
|
98.995%
|
|
|
| Senior notes 4.000% due 2025 |
|
|
|
|
|
| Mortgage loans and Notes payable |
|
|
|
|
|
| Senior notes, principal amount |
|
|
|
$ 300,000
|
|
| Interest rate (as a percent) |
4.00%
|
4.00%
|
|
4.00%
|
|
| Carrying value |
|
|
|
$ 300,000
|
250,000
|
| Effective interest rate (as a percent) |
3.811%
|
4.032%
|
|
3.99%
|
|
| Effective weighted average interest rate (as a percent) |
|
|
|
3.994%
|
|
| Proceeds from senior notes |
$ 50,000
|
$ 250,000
|
|
|
|
| Debt instrument, redemption percentage |
101.343%
|
99.735%
|
|
|
|
| Senior Notes 3.125% Due 2026 |
|
|
|
|
|
| Mortgage loans and Notes payable |
|
|
|
|
|
| Senior notes, principal amount |
|
|
|
$ 300,000
|
|
| Interest rate (as a percent) |
|
|
|
3.125%
|
|
| Carrying value |
|
|
|
$ 300,000
|
300,000
|
| Effective interest rate (as a percent) |
|
|
|
3.18%
|
|
| Credit Facility |
|
|
|
|
|
| Mortgage loans and Notes payable |
|
|
|
|
|
| Less: Loan procurement costs, net |
|
|
|
$ (705)
|
$ (1,251)
|
| Effective weighted average interest rate (as a percent) |
|
|
|
2.82%
|
|