CubeSmart’s Appetite For Acquisitions Is Diminishing
The pace at which CubeSmart, the Malvern-based self-storage real estate investment trust, is devouring other companies through acquisitions appears to be easing up while corporate revenues are accelerating, according to a report in The SpareFoot Storage Beat.
After investing half a billion dollars into 52 facilities last year, current CubeSmart plans only call for $100 million to $150 million in such buyouts.
Yet “CubeSmart heads into 2015 with a financial tailwind at its back,” the article stated.
Last year’s revenues ended 18 percent higher than where 2013 closed, and storage occupancy rates rose almost 3 percent. Among the strongest-performing markets for revenue was Philadelphia.
“We think 2015 is going to be another great year for the self-storage industry,” President and CEO Chris Marr said in the report.
Read more about CubeSmart’s past and in-process deals, as well as more analysis of its financial footing, in The SpareFoot Storage Beat here.
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