$CUBE
CubeSmart

2021 Form 10-K Financial Statement

#000129867522000008 Filed on February 25, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $822.6M $178.8M $679.2M
YoY Change 21.11% 8.03% 5.48%
Cost Of Revenue $252.1M $55.40M $223.6M
YoY Change 12.73% 1.28% 6.62%
Gross Profit $570.5M $123.3M $455.5M
YoY Change 25.23% 11.28% 4.92%
Gross Profit Margin 69.35% 68.96% 67.07%
Selling, General & Admin $68.81M $11.30M $41.42M
YoY Change 66.11% 17.71% 7.42%
% of Gross Profit 12.06% 9.16% 9.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $232.0M $38.10M $156.6M
YoY Change 48.2% -8.85% -4.26%
% of Gross Profit 40.68% 30.9% 34.37%
Operating Expenses $300.9M $49.10M $198.0M
YoY Change 51.95% -3.16% -2.03%
Operating Profit $269.6M $74.20M $257.5M
YoY Change 4.68% 23.46% 10.98%
Interest Expense -$61.34M -$19.50M -$78.39M
YoY Change -21.74% 1.56% 22.05%
% of Operating Profit -22.75% -26.28% -30.44%
Other Income/Expense, Net -$10.82M -$400.0K -$240.0K
YoY Change 4407.5% -500.0% -116.95%
Pretax Income $230.8M $43.00M $167.6M
YoY Change 37.71% 1.18% -1.85%
Income Tax
% Of Pretax Income
Net Earnings $230.8M $42.30M $167.6M
YoY Change 37.71% 0.61% -1.85%
Net Earnings / Revenue 28.06% 23.66% 24.68%
Basic Earnings Per Share $1.10 $0.85
Diluted Earnings Per Share $1.09 $0.22 $0.85
COMMON SHARES
Basic Shares Outstanding 203.8M 195.3M 194.1M
Diluted Shares Outstanding 205.0M 194.9M

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.14M $3.600M $3.592M
YoY Change 210.13% -93.44% -93.45%
Cash & Equivalents $11.14M $3.592M $3.592M
Short-Term Investments
Other Short-Term Assets $10.29M $8.960M
YoY Change 14.84% 29.91%
Inventory
Prepaid Expenses
Receivables $8.145M $5.829M
Other Receivables $0.00 $0.00
Total Short-Term Assets $29.58M $3.600M $18.38M
YoY Change 60.9% -93.44% -73.02%
LONG-TERM ASSETS
Property, Plant & Equipment $6.152B $4.506B $4.561B
YoY Change 34.89% 18.07% 19.52%
Goodwill
YoY Change
Intangibles $57.82M
YoY Change 462.29%
Long-Term Investments $119.8M $92.07M $97.07M
YoY Change 23.36% 1.05% -8.91%
Other Assets $53.81M $5.900M $5.912M
YoY Change 810.23% -22.37% -22.65%
Total Long-Term Assets $6.519B $4.775B $4.760B
YoY Change 36.95% 20.12% 20.15%
TOTAL ASSETS
Total Short-Term Assets $29.58M $3.600M $18.38M
Total Long-Term Assets $6.519B $4.775B $4.760B
Total Assets $6.548B $4.778B $4.778B
YoY Change 37.04% 18.58% 18.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $146.0M $105.5M $105.5M
YoY Change 38.3% 15.3% 15.37%
Accrued Expenses $54.02M $53.60M $53.60M
YoY Change 0.79% 15.52% 15.51%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.182M $1.936M
YoY Change 12.71%
Total Short-Term Liabilities $300.6M $228.5M $230.5M
YoY Change 30.46% 12.51% 13.5%
LONG-TERM LIABILITIES
Long-Term Debt $3.209B $2.430B $2.428B
YoY Change 32.16% 25.8% 25.71%
Other Long-Term Liabilities $39.65M $29.10M $29.09M
YoY Change 36.3% 15.02% 14.91%
Total Long-Term Liabilities $3.249B $2.459B $2.457B
YoY Change 32.21% 25.67% 25.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $300.6M $228.5M $230.5M
Total Long-Term Liabilities $3.249B $2.459B $2.457B
Total Liabilities $3.677B $2.688B $2.946B
YoY Change 24.8% 24.43% 32.09%
SHAREHOLDERS EQUITY
Retained Earnings -$974.8M
YoY Change 11.2%
Common Stock $1.974M
YoY Change 1.96%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.872B $1.832B $1.832B
YoY Change
Total Liabilities & Shareholders Equity $6.548B $4.778B $4.778B
YoY Change 37.04% 18.58% 18.58%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income $230.8M $42.30M $167.6M
YoY Change 37.71% 0.61% -1.85%
Depreciation, Depletion And Amortization $232.0M $38.10M $156.6M
YoY Change 48.2% -8.85% -4.26%
Cash From Operating Activities $449.2M $83.20M $351.0M
YoY Change 27.96% 15.72% 5.81%
INVESTING ACTIVITIES
Capital Expenditures -$186.2M $342.9M -$467.8M
YoY Change -60.21% 439.15% -495.47%
Acquisitions $1.679B
YoY Change
Other Investing Activities -$1.667B -$8.100M -$43.60M
YoY Change 3722.63% 19.12% -80.19%
Cash From Investing Activities -$1.853B -$351.0M -$511.4M
YoY Change 262.24% 398.58% 36.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $965.6M $120.7M
YoY Change 699.85% -38.5%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.411B 267.3M 108.2M
YoY Change 1203.72% 506.12% 12.87%
NET CHANGE
Cash From Operating Activities 449.2M 83.20M 351.0M
Cash From Investing Activities -1.853B -351.0M -511.4M
Cash From Financing Activities 1.411B 267.3M 108.2M
Net Change In Cash 7.089M -500.0K -52.21M
YoY Change -113.58% -101.1% -200.49%
FREE CASH FLOW
Cash From Operating Activities $449.2M $83.20M $351.0M
Capital Expenditures -$186.2M $342.9M -$467.8M
Free Cash Flow $635.3M -$259.7M $818.9M
YoY Change -22.41% -3228.92% 283.61%

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CY2021 cube Comprehensive Income Loss Net Of Tax Attributable To Noncontrolling Interest Excluding Redeemable Noncontrolling Interest
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CY2020 cube Comprehensive Income Loss Net Of Tax Attributable To Noncontrolling Interest Excluding Redeemable Noncontrolling Interest
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CY2019 cube Comprehensive Income Loss Net Of Tax Attributable To Noncontrolling Interest Excluding Redeemable Noncontrolling Interest
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CY2020 cube Adjustments To Additional Paid In Capital Amortization Of Restricted Stock
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CY2020 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2021 cube Other Comprehensive Income Loss Net Of Tax Including Portion Attributable To Temporary Equity
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CY2020 cube Depreciation Depletion And Amortization Cash Flow Impact
DepreciationDepletionAndAmortizationCashFlowImpact
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DepreciationDepletionAndAmortizationCashFlowImpact
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IncomeLossFromEquityMethodInvestments
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IncomeLossFromEquityMethodInvestments
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GainLossOnSaleOfRealEstateProperties
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CY2019 cube Gain Loss On Sale Of Real Estate Properties
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ShareBasedCompensation
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ShareBasedCompensation
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CY2019 us-gaap Share Based Compensation
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FairValueAdjustmentOfDebt
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FairValueAdjustmentOfDebt
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CY2019 us-gaap Increase Decrease In Other Operating Assets
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CY2019 us-gaap Increase Decrease In Other Operating Liabilities
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CY2020 us-gaap Net Cash Provided By Used In Operating Activities
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CY2019 us-gaap Net Cash Provided By Used In Operating Activities
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PaymentsToAcquireRealEstate
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CY2021 cube Payments For Additions And Improvements To Real Estate
PaymentsForAdditionsAndImprovementsToRealEstate
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PaymentsForAdditionsAndImprovementsToRealEstate
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PaymentsForAdditionsAndImprovementsToRealEstate
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CY2019 us-gaap Distributions Payable To Real Estate Partnerships
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CY2019 us-gaap Proceeds From Divestiture Of Real Estate Partnership
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CY2020 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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CY2019 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Proceeds From Issuance Of Senior Long Term Debt
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CY2019 us-gaap Proceeds From Issuance Of Senior Long Term Debt
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CY2019 cube Repayment Of Unsecured Term Loans
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PaymentsOfMortgageLoansAndNotesPayable
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PaymentsOfMortgageLoansAndNotesPayable
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PaymentsOfMortgageLoansAndNotesPayable
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3764000
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PaymentsOfLoanCosts
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DebtPrepaymentCosts
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DebtPrepaymentCosts
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PaymentsForHedgeFinancingActivities
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PaymentsToAcquireNoncontrollingInterests
3397000
CY2019 cube Payments To Acquire Noncontrolling Interests
PaymentsToAcquireNoncontrollingInterests
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CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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PaymentsToMinorityShareholders
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CY2019 us-gaap Payments To Minority Shareholders
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PaymentsOfDividendsCommonStock
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CY2021 cube Payments To Minority Shareholders In Operating Partnership
PaymentsToMinorityShareholdersInOperatingPartnership
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PaymentsToMinorityShareholdersInOperatingPartnership
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CY2019 cube Payments To Minority Shareholders In Operating Partnership
PaymentsToMinorityShareholdersInOperatingPartnership
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CY2020 us-gaap Net Cash Provided By Used In Financing Activities
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InterestPaidNet
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InterestPaidNet
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CY2020 cube Noncash Or Part Noncash Acquisition Properties Acquired
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CY2021 cube Discount On Issuance Of Unsecured Notes
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CY2020 cube Discount On Issuance Of Unsecured Notes
DiscountOnIssuanceOfUnsecuredNotes
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DiscountOnIssuanceOfUnsecuredNotes
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CY2019 cube Line Of Credit Non Cash Drawdown
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CY2020 cube Accretion Of Liability
AccretionOfLiability
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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58441000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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6482000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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13318000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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6229000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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58441000
CY2021 us-gaap Interest Paid Net
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CY2019 cube Accretion Of Liability
AccretionOfLiability
5895000
CY2021 cube Derivative Valuation Adjustment
DerivativeValuationAdjustment
81000
CY2020 cube Derivative Valuation Adjustment
DerivativeValuationAdjustment
81000
CY2019 cube Derivative Valuation Adjustment
DerivativeValuationAdjustment
302000
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3770000
CY2020 cube Noncash Or Part Noncash Acquisition Issuance Of Op Units
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186933000
CY2019 cube Noncash Or Part Noncash Acquisition Issuance Of Op Units
NoncashOrPartNoncashAcquisitionIssuanceOfOPUnits
3576000
CY2019 cube Acquisition Of Noncontrolling Interest In Subsidiary
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4828000
CY2021 cube Contributions From Noncontrolling Interests In Subidiaries
ContributionsFromNoncontrollingInterestsInSubidiaries
3373000
CY2020 cube Contributions From Noncontrolling Interests In Subidiaries
ContributionsFromNoncontrollingInterestsInSubidiaries
682000
CY2019 cube Contributions From Noncontrolling Interests In Subidiaries
ContributionsFromNoncontrollingInterestsInSubidiaries
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CY2021Q4 us-gaap Number Of States In Which Entity Operates
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24
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12760000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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2123000
CY2021 us-gaap Number Of Reportable Segments
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1
CY2021 cube Common Stock Conversion Ratio
CommonStockConversionRatio
1
CY2021 cube Common Stock Conversion Ratio
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1
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:9pt;margin:0pt;">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Although management believes the assumptions and estimates made are reasonable and appropriate, as discussed in the applicable sections throughout these consolidated financial statements, different assumptions and estimates could materially impact the Company’s reported results. The current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions, and changes in market conditions could impact the Company’s future operating results.</p>
CY2021 cube Payments To Acquire Businesses Gross Allocated To Above Or Below Market Lease Intangibles
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0
CY2021 cube Write Off Fully Depreciated Real Estate Assets
WriteOffFullyDepreciatedRealEstateAssets
52700000
CY2021 cube Write Off Fully Amortized In Place Lease Intangible Assets
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59900000
CY2020 cube Write Off Fully Depreciated Real Estate Assets
WriteOffFullyDepreciatedRealEstateAssets
83400000
CY2021 cube Disposal Group Including Discontinued Operation Expected Timing Of Disposal
DisposalGroupIncludingDiscontinuedOperationExpectedTimingOfDisposal
P1Y
CY2020 cube Write Off Fully Amortized In Place Lease Intangible Assets
WriteOffFullyAmortizedInPlaceLeaseIntangibleAssets
20500000
CY2019 us-gaap Impairment Of Long Lived Assets Held For Use
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CY2020 us-gaap Impairment Of Long Lived Assets Held For Use
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0
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2021Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
50100000
CY2020Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
38100000
CY2021Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
14300000
CY2020Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
13100000
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
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108794000
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
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57820000
CY2021Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
8145000
CY2020Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
5829000
CY2021Q4 us-gaap Prepaid Taxes
PrepaidTaxes
6938000
CY2020Q4 us-gaap Prepaid Taxes
PrepaidTaxes
6334000
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
3352000
CY2020Q4 us-gaap Prepaid Insurance
PrepaidInsurance
2626000
CY2021Q4 us-gaap Due From Affiliates
DueFromAffiliates
15417000
CY2020Q4 us-gaap Due From Affiliates
DueFromAffiliates
13130000
CY2021Q4 us-gaap Assets Held In Trust
AssetsHeldInTrust
60297000
CY2020Q4 us-gaap Assets Held In Trust
AssetsHeldInTrust
17207000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
54741000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
55302000
CY2020Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
5000000
CY2021Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
8021000
CY2020Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
7505000
CY2021Q4 us-gaap Other Assets
OtherAssets
265705000
CY2020Q4 us-gaap Other Assets
OtherAssets
170753000
CY2021 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
21000000.0
CY2020 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
16900000
CY2019 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
11500000
CY2021 cube Equity Offering Costs
EquityOfferingCosts
28300000
CY2020 cube Equity Offering Costs
EquityOfferingCosts
1500000
CY2019 cube Equity Offering Costs
EquityOfferingCosts
2100000
CY2021 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1900000
CY2020 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
2700000
CY2019 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
3000000.0
CY2020Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
0
CY2021Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
0
CY2021Q4 cube Tax Basis Of Real Estate Assets
TaxBasisOfRealEstateAssets
6113500000
CY2020Q4 cube Tax Basis Of Real Estate Assets
TaxBasisOfRealEstateAssets
4384100000
CY2021 cube Ordinary Income Distributions Paid Percentage
OrdinaryIncomeDistributionsPaidPercentage
0.926365
CY2021 cube Capital Gain Distributions Paid Percentage
CapitalGainDistributionsPaidPercentage
0.073635
CY2021 cube Federal Excise Tax Rate
FederalExciseTaxRate
0.04
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1176000
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
796000
CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
702000
CY2021 cube Federal Excise Tax Rate
FederalExciseTaxRate
0.04
CY2021 cube Percentage Of Ordinary Income Considered For Calculation Of Excise Tax
PercentageOfOrdinaryIncomeConsideredForCalculationOfExciseTax
0.85
CY2021 cube Percentage Of Capital Gain Considered For Calculation Of Excise Tax
PercentageOfCapitalGainConsideredForCalculationOfExciseTax
0.95
CY2021 cube Percentage Of Prior Year Taxable Income Considered For Calculation Of Excise Tax
PercentageOfPriorYearTaxableIncomeConsideredForCalculationOfExciseTax
1
CY2019Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
0
CY2020Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
0
CY2021Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
0
CY2021Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
700000
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
400000
CY2019 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0
CY2020 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0
CY2021 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0
CY2021Q4 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
33600000
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Concentration of Credit Risk</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:9pt;margin:0pt;">The Company’s stores are located in major metropolitan and rural areas and have numerous customers per store. No single customer represents a significant concentration of our revenues. The stores in New York, Florida, Texas and California provided approximately 19%, 15%, 9% and 8%, respectively, of the Company’s total revenues for the year ended December 31, 2021. The stores in New York, Florida, Texas and California provided approximately 16%, 15%, 9% and 8%, respectively, of the Company’s total revenues for the year ended December 31, 2020. The stores in New York, Florida, Texas and California provided approximately 16%, 16%, 10% and 8%, respectively, of the Company’s total revenues for the year ended December 31, 2019. </p>
CY2021Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
7183494000
CY2020Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
5489754000
CY2021Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1085824000
CY2020Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
983940000
CY2021Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
6097670000
CY2020Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
4505814000
CY2021 cube Schedule Of Capitalized Costs For Investments In Storage Properties
ScheduleOfCapitalizedCostsForInvestmentsInStorageProperties
<p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-indent:9pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:34.04%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.46%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:34.04%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">CubeSmart</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.46%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:34.04%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Number of</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Ownership</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Total</b></p></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:34.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Store Location</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Stores</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Date Opened</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Interest</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.58%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Construction Costs</b></p></td></tr><tr><td style="vertical-align:bottom;width:34.04%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.58%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">(in thousands)</b></p></td></tr><tr><td style="vertical-align:bottom;width:34.04%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.46%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:34.04%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Newton, MA <sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">(1)</sup></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Q4 2021</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">100%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.46%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 20,800</p></td></tr><tr><td style="vertical-align:bottom;width:34.04%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">East Meadow, NY <sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">(2)</sup></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Q2 2021</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">100%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.46%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 25,900</p></td></tr><tr><td style="vertical-align:bottom;width:34.04%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">King of Prussia, PA</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Q2 2021</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">70%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.46%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 22,800</p></td></tr><tr><td style="vertical-align:bottom;width:34.04%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Arlington, VA <sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">(3)</sup></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Q1 2021</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">90%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.46%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 26,400</p></td></tr><tr><td style="vertical-align:bottom;width:34.04%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Brooklyn, NY <sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">(2)</sup></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Q2 2020</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">100%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.46%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 45,900</p></td></tr><tr><td style="vertical-align:bottom;width:34.04%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Waltham, MA<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;"> (1)</sup></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Q3 2019</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">100%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.46%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 18,000</p></td></tr><tr><td style="vertical-align:bottom;width:34.04%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Queens, NY<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;"> (2)</sup></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Q2 2019</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">100%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.46%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 47,500</p></td></tr><tr><td style="vertical-align:bottom;width:34.04%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Bayonne, NJ <sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">(2) (4)</sup></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Q2 2019</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">100%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 25,100</p></td></tr><tr><td style="vertical-align:bottom;width:34.04%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">8</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.38%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.11%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:14.46%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 232,400</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 27pt;"><span style="font-size:10pt;margin-left:0pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(1)</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">During the third quarter of 2019 and fourth quarter of 2021, the Company, through </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">two</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> </span><span style="-sec-ix-hidden:Hidden_5NUGJspvmUSaEKsbOEfmGg;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">separate</span></span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> joint ventures in which it owned a </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">90%</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> </span><span style="-sec-ix-hidden:Hidden___VFkT3NbEigs8sRkFPyVw;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">interest</span></span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> in each and that were previously consolidated, completed the construction of and opened for operation a store located in Waltham, MA and a store located in Newton, MA, respectively. On September 6, 2019, the Company acquired the </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">10%</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> interest of the noncontrolling member in the venture that owned the Waltham, MA store for </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">$2.6</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> million. On December 14, 2021, the Company acquired the </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">10%</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> interest of the noncontrolling member in the venture that owned the Newton, MA store for </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">$3.4</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> million. Prior to these transactions, the noncontrolling member’s interest in each venture was reported in Noncontrolling interests in subsidiaries on the consolidated balance sheets. Since the Company retained its controlling interest in each venture and the stores are now wholly owned, these transactions were accounted for as equity transactions. In each case, the carrying amount of the noncontrolling interest was </span><span style="-sec-ix-hidden:Hidden_BUc2mGAiHkWLfcbYAJzK8Q;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">reduced</span></span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> to </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">zero</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> to reflect the purchase and the difference between the purchase price paid by the Company and the carrying amount of the noncontrolling interest was recorded as an adjustment to equity attributable to the Company, with </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">no</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">gain</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> or loss recorded. This adjustment was </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">$2.0</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> million for the Waltham, MA store and </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">$2.7</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> million for the Newton, MA store. The </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">$10.5</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> million related party loan extended by the Company to the venture that owned the Waltham, MA store and the </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">$13.2</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> million related party loan extended by the Company to the venture that owned the Newton, MA store were repaid in conjunction with the Company’s acquisitions of the noncontrolling member’s ownership interests. </span></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 36pt;"><span style="font-size:10pt;margin-left:0pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(2)</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">These stores were previously owned by </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">four</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> separate consolidated joint ventures, of which the Company held a </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">51%</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> ownership interest in each. On June 25, 2019, the noncontrolling member in the venture that owned the Bayonne, NJ store put its </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">49%</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> interest in the venture to the Company for </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">$11.5</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> million. On September 17, 2019, the noncontrolling member in the venture that owned the Queens, NY store put its </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">49%</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> interest in the venture to the Company for </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">$15.2</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> million. On September 29, 2020, the noncontrolling member in the venture that owned the Brooklyn, NY store put its </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">49%</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> interest in the venture to the Company for </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">$10.0</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> million, of which </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">$1.0</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> million was paid in cash. The Company issued </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">276,497</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> OP Units that were valued at approximately </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">$9.0</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> million as consideration for the remainder of the purchase price (see note 12). On June 29, 2021, the noncontrolling member in the venture that owned the East Meadow, NY store put its </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">49%</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> interest in the venture to the Company for </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">$6.6</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> million. The cash payments related to these transactions are included in Development costs in the consolidated statements of cash flows. </span></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0pt 36pt;"><span style="font-size:10pt;margin-left:0pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(3)</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">This</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> store is located adjacent to an existing consolidated joint venture store. Given their proximity to each other, the stores have been combined in our store count, as well as for operational and reporting purposes (see note 12).</span></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">(4)</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">This store is subject to a ground lease.</span></td></tr></table>
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14718000
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RealEstateGrossConstructionInProgress
-43185000
CY2020 cube Real Estate Right Of Use Assets Finance Leases
RealEstateRightOfUseAssetsFinanceLeases
41896000
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
7183494000
CY2020Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
5489754000
CY2019Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
4699844000
CY2020Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
983940000
CY2019Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
925359000
CY2018Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
862487000
CY2021 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
160933000
CY2020 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
143952000
CY2019 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
145233000
CY2021 cube Real Estate Accumulated Depreciation Fully Depreciated Assets
RealEstateAccumulatedDepreciationFullyDepreciatedAssets
52722000
CY2020 cube Real Estate Accumulated Depreciation Fully Depreciated Assets
RealEstateAccumulatedDepreciationFullyDepreciatedAssets
83418000
CY2019 cube Real Estate Accumulated Depreciation Fully Depreciated Assets
RealEstateAccumulatedDepreciationFullyDepreciatedAssets
81717000
CY2021 cube Real Estate Accumulated Depreciation Real Estate Sold And Other Deductions
RealEstateAccumulatedDepreciationRealEstateSoldAndOtherDeductions
6327000
CY2020 cube Real Estate Accumulated Depreciation Real Estate Sold And Other Deductions
RealEstateAccumulatedDepreciationRealEstateSoldAndOtherDeductions
1953000
CY2019 cube Real Estate Accumulated Depreciation Real Estate Sold And Other Deductions
RealEstateAccumulatedDepreciationRealEstateSoldAndOtherDeductions
644000
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1085824000
CY2020Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
983940000
CY2019Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
925359000
CY2021Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
6097670000
CY2020Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
4505814000
CY2019Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
3774485000
CY2021Q4 cube Real Estate Aggregate Cost For Federal Income Tax Purposes
RealEstateAggregateCostForFederalIncomeTaxPurposes
7452800000

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