Focus on the REITs Part II: CubeSmart
Our next REIT focus is CubeSmart. Here is a little history about them.
CubeSmart is a “self-administered and self-managed real estate company focused on the ownership, operation, acquisition and development of self-storage facilities in the United States.” Their top priorities are to offer reasonably priced, easily available and safe storage space for both residential and business customers. They own and operate self-storage facilities all over the country and pride themselves on their vast management experience and knowledge.
CubeSmart is the fourth largest self-storage owner and operator of facilities in the US according to the Self-Storage Almanac. The industry in the US “consists of approximately 45,000 facilities with 2.1 billion rentable square feet, out of which the top ten operators collectively own approximately 14.8% of the aggregate rentable square footage market share.”
They focus on growth through consolidation with their economies of scale and maximization of cash flow through rent and occupancy increases as well as the reduction of operating expenses. They also focus on the expansion and overall improvement of the facilities in general.
CubeSmart’s self-storage property management team has over 60 years of experience. Their services include feasibility studies to facility operations. They offer full scale Management as well as consulting. Management contracts are based on a client’s specific needs. They manage over 500 self-storage facilities. Their management services are “innovative, flexible, and will provide you with the information that you need to know to ensure your investment is safe and well managed.”
For more information check their website.