CubeSmart secures $300 million unsecured term loan with PNC Bank as agent
CUBE•CubeSmart’s operating partnership entered a fully funded $300 million unsecured term loan on October 26, 2026, with PNC Bank as administrative agent. Proceeds repaid revolving credit facility borrowings, and the loan matures January 10, 2031.
1. Loan terms
The loan carries interest at daily simple SOFR plus 0.8%, with no floor, based on credit ratings and leverage as of June 30, 2026. It includes a conditional one-year extension option for a fee of 0.13% of outstanding principal.
2. Potential increase
The facility may be increased to $1 billion subject to conditions, but lenders are not obligated to provide additional loans.
