CubeSmart Investor Presentation Deck
Liquidity and Access to Capital to Grow
Access to the full range of capital sources to fund limited near-term commitments
Capital Needs & Liquidity
Ample liquidity to manage near-term capital needs
Capital Needs: $129.2M through 2021
$54.9M of debt maturities¹
$74.3M of remaining development commitments¹
$305.6M of net acquisition requirements³
●
●
Existing Sources of Capital
$712.0M of remaining capacity on revolving
credit facility¹
$470M of authorization under at-the-market
equity program¹
Retained free cash flow
●
●
●
500,000
400,000
300,000
200,000
100,000
0
10,315
2020
6 CUBESMART
44,541
2021
2022
332,412
2023
42,628
2024
300,000
2025
Access to Capital
Proven ability to access a variety of sources of
capital, raising $4.2 billion since 2010
Debt Maturity Schedule²
Secured Debt
through eight unsecured note issuances
• Credit Facility: $750 million revolving line of credit
Bank Debt: raised $400 million in term loans (since
repaid)
Preferred Equity: raised $77.5 million through one
preferred equity issuance (since redeemed)
●
●
Common Equity: raised $1.4 billion in net proceeds
Unsecured Senior Notes²: raised $2.3 billion
1. As of September 30, 2020
2. As of September 30, 2020 pro forma to include October 2020
Unsecured Senior Note Issuance and redemption of 2022 senior notes
300,000
2026
Unsecured Debt
2027
2028
350,000
2029
350,000
2030
450,000
2031
3. Includes $643.9M acquisitions under contract as of the date of our earnings
release (November 5,2020) less $183.7M OP issuance and $154.6M of
assumed secured debt from the Storage Deluxe TransactionView entire presentation