CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
ASSETS
Storage facilities	$ 3,679,665	$ 3,467,032
Less: Accumulated depreciation	(622,824)	(594,049)
Storage facilities, net (including VIE assets of $169,141 and $136,274, respectively)	3,056,841	2,872,983
Cash and cash equivalents	2,754	62,869
Restricted cash	2,652	24,600
Loan procurement costs, net of amortization	2,637	2,800
Investment in real estate venture, at equity	100,477	97,281
Other assets, net	41,326	43,631
Total assets	3,206,687	3,104,164
LIABILITIES AND EQUITY
Unsecured senior notes, net	742,153	741,904
Revolving credit facility	54,300
Unsecured term loans, net	398,325	398,183
Mortgage loans and notes payable, net	101,716	111,455
Accounts payable, accrued expenses and other liabilities	96,245	85,034
Distributions payable	39,210	38,685
Deferred revenue	18,673	17,519
Security deposits	397	403
Total liabilities	1,451,019	1,393,183
Noncontrolling interests in the Operating Partnership	$ 71,916	$ 66,128
Commitments and contingencies
Equity
7.75% Series A Preferred shares $.01 par value, 3,220,000 shares authorized, 3,100,000 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively	$ 31	$ 31
Common shares $.01 par value, 400,000,000 shares authorized, 177,126,709 and 174,667,870 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively	1,771	1,747
Additional paid in capital	2,299,527	2,231,181
Accumulated other comprehensive loss	(5,302)	(4,978)
Accumulated deficit	(613,734)	(584,654)
Total CubeSmart shareholders' equity	1,682,293	1,643,327
Noncontrolling interests in subsidiaries	1,459	1,526
Total equity	1,683,752	1,644,853
Total liabilities and equity	$ 3,206,687	$ 3,104,164