CubeSmart Investor Presentation Deck
Strategic Success: HVP III Venture
Significant value creation for both partners as we unwound the HVP III Venture
Nashville (2)
Atlanta (1)
21 CUBESMART
Charlotte (1)
Acquisition Portfolio (18)
Sale Portfolio (50)
Charleston (7)
Boston (7)
●
●
HVP III Joint Venture
Formed in 2015 seeded through two portfolio acquisitions
Initial Venture
Investment
Properties
68
●
Our participation as a 10% owner in venture
accomplished a number of strategic goals:
Expanded relationship with our JV partner
Participated in portfolios with a mix of assets
Boosted returns through fee income
Shared in value creation through promoted returns
Acquired stores that fit our investment criteria
●
●
●
2019 Exit
Valuation
●
$358.0 million $455.0 million
In 2019, the venture sold 50 of the assets
unlocking our promoted interest
• We reinvested our proceeds at an attractive all-
in yield, purchasing our partner's interest in 18
stores that best fit our strategyView entire presentation