CubeSmart partnership secures $300M term loan

Q: How large is CUBE’s new term loan and when does it mature?

CubeSmart, L.P. entered into a $300 million unsecured term loan, funded in full at closing, that matures on January 10, 2031. CubeSmart is the parent guarantor.

The operating partnership used the funded amount to repay amounts drawn under its unsecured revolving credit facility.

Available on EDGAR 10/29/2026 - 04:40 PM EDT Accepted by SEC EDGAR 10/29/2026 - 04:36 PM EDT

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Form Type

8-K

Rhea-AI Filing Summary

CubeSmart’s operating partnership, CubeSmart, L.P., entered into a $300 million unsecured term loan, with CubeSmart as parent guarantor. The loan was funded in full at closing and matures January 10, 2031. The operating partnership used the funds to repay amounts drawn under its unsecured revolving credit facility.

The operating partnership may request additional term loans, subject to conditions, so aggregate outstanding loans reach up to $1.0 billion; lenders are not obligated to provide them. Based on CubeSmart’s unsecured debt credit ratings and leverage levels as of June 30, 2026, the rate is 0.800% over daily simple SOFR, with no SOFR floor. The operating partnership may prepay without premium or penalty, but cannot reborrow prepaid amounts. A one-time one-year extension is subject to a 0.125% fee on each lender’s outstanding principal and other customary conditions. CubeSmart and the operating partnership are jointly and severally obligated, and the agreement includes leverage and fixed charge coverage ratio tests.

Filing Explained

The agreement gives lenders a right to accelerate the outstanding debt if an event of default occurs, including the Operating Partnership’s or CubeSmart’s failure to pay amounts due or filing bankruptcy proceedings.

8-K Event Classification

3 items: 1.01, 2.03, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Term loan: $300 million Maximum aggregate outstanding term loans: Up to $1.0 billion Interest rate spread: 0.800% over daily simple SOFR +3 more

6 metrics

Term loan $300 million Unsecured term loan funded in full at closing

Maximum aggregate outstanding term loans Up to $1.0 billion Additional term loans may be requested subject to conditions

Interest rate spread 0.800% over daily simple SOFR Based on credit ratings and leverage levels as of June 30, 2026

Extension fee 0.125% Of each lender’s aggregate outstanding principal amount for a one-time extension

Term loan maturity January 10, 2031 Maturity date of the term loan

Extension period One year One-time option to extend maturity, subject to conditions

Key Terms

Term Loan Facility, daily simple secured overnight financing rate, fixed charge coverage ratio tests, negative covenants, +1 more

5 terms

Term Loan Facility financial

"The facility under the Term Loan Agreement"

A term loan facility is a type of loan provided by a lender that is repaid over a set period of time, usually with fixed payments. It functions like a large, upfront loan that a borrower agrees to pay back gradually, often used to fund major investments or projects. For investors, understanding a company's use of such loans helps assess its financial stability and risk level.

daily simple secured overnight financing rate financial

"over the daily simple secured overnight financing rate"

fixed charge coverage ratio tests financial

"comply with leverage and fixed charge coverage ratio tests"

negative covenants financial

"customary affirmative and negative covenants"

jointly and severally obligated technical

"jointly and severally obligated under the Term Loan Agreement"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How large is CUBE’s new term loan and when does it mature?

CubeSmart, L.P. entered into a $300 million unsecured term loan, funded in full at closing, that matures on January 10, 2031. CubeSmart is the parent guarantor.

What is the interest rate on CUBE’s term loan?

Based on CubeSmart’s unsecured debt credit ratings and leverage levels as of June 30, 2026, amounts drawn bear interest at 0.800% over the daily simple secured overnight financing rate (SOFR), with no SOFR floor.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT PURSUANT TO

SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): October 29, 2026 (October 26, 2026)

CUBESMART

CUBESMART, L.P.

(Exact Name of Registrant as Specified in Its Charter)

Maryland (CubeSmart)

001-32324

20-1024732

Delaware (CubeSmart, L.P.)

000-54462

34-1837021

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

5 Old Lancaster Road

Malvern,

Pennsylvania

19355

(Address of Principal

Executive Offices)

(610) 535-5000

(Registrant’s telephone number, including area code)

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Trading Symbol(s)		Name of Each Exchange on Which Registered
Common Shares, $0.01 par value per share, of CubeSmart		CUBE		New York Stock Exchange

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging Growth Company (CubeSmart) ☐

Emerging Growth Company (CubeSmart, L.P.) ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

CubeSmart ☐

CubeSmart, L.P. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On October 26, 2026, CubeSmart, L.P. (the “Operating Partnership”), as borrower, and CubeSmart (the “Company”), as parent guarantor, entered into a Term Loan Agreement (the “Term Loan Agreement”) with the lenders referred to therein (the “Lenders”) and PNC Bank, National Association, as administrative agent for the Lenders (the “Agent”). The facility under the Term Loan Agreement is comprised of a $300 million unsecured term loan (the “Term Loan Facility”) that was funded in full at the closing and matures on January 10, 2031. The Operating Partnership has a one-time option to extend the maturity date of the Term Loan Facility by one year, subject to the payment of an extension fee equal to 0.125% of the aggregate outstanding principal amount of such Lender’s loans and other customary conditions. Subject to certain conditions, the Operating Partnership may request additional term loans so that aggregate outstanding loans under the Term Loan Facility total up to $1.0 billion, although no Lender is obligated to provide such additional term loans. The Operating Partnership may prepay the loans under the Term Loan Facility, in whole or in part, at any time without premium or penalty, and amounts prepaid may not be reborrowed.

Pricing on the Term Loan Facility is dependent upon the Company’s unsecured debt credit ratings and leverage levels. Based on the Company’s unsecured debt credit ratings and leverage levels as of June 30, 2026, amounts drawn under the Term Loan Facility are priced at 0.800% over the daily simple secured overnight financing rate (“SOFR”), as determined by the Federal Reserve Bank of New York, with no SOFR floor.

The Operating Partnership used the amounts funded at closing to repay amounts drawn under its unsecured revolving credit facility.

The Term Loan Agreement contains customary affirmative and negative covenants and also contains financial covenants that, among other things, require the Company and the Operating Partnership to comply with leverage and fixed charge coverage ratio tests. The Lenders may accelerate amounts outstanding under the Term Loan Agreement upon the occurrence of an event of default, including the Operating Partnership’s and the Company’s failure to pay amounts due or filing of bankruptcy proceedings.

The Operating Partnership and the Company are jointly and severally obligated under the Term Loan Agreement.

The foregoing description of the Term Loan Agreement is qualified in its entirety by the full terms and conditions of the Term Loan Agreement, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information reported in Item 1.01 of this current report on Form 8-K is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(a) Not applicable.

(b) Not applicable.

(d) Exhibits.

Exhibit No.		Description
10.1		Term Loan Agreement dated as of October 26, 2026 by and among CubeSmart, L.P., CubeSmart, the Lenders referred to therein, and PNC Bank, National Association, as administrative agent for the Lenders.
104		Cover Page Interactive Data File – the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CUBESMART

	By:	/s/ Jeffrey P. Foster
	Name:	Jeffrey P. Foster
Date: October 29, 2026	Title:	Chief Legal Officer and Secretary


	CUBESMART, L.P.

	By: CUBESMART, its general partner

	By:	/s/ Jeffrey P. Foster
	Name:	Jeffrey P. Foster
Date: October 29, 2026	Title:	Chief Legal Officer and Secretary

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

5 documents

Agreements & Contracts

EX-10.1 EX-10.1 492.1 KB