Key Takeaways
- • CubeSmart (NYSE: CUBE) and CBRE Investment Management announced a $250 million self-storage joint venture, with the first acquisition being a self-storage property in Phoenix, Arizona.
- • The venture will target core, core-plus, and value-add self-storage opportunities in high-growth U.S. markets.
- • CubeSmart will manage the stores on behalf of the venture, applying its operating platform to enhance property value.
- • CBRE IM's Julie Ingersoll said the investment reflects high conviction in the self-storage sector, and CubeSmart's Christopher P. Marr framed the deal as a way to enhance CubeSmart's growth profile and expand its footprint.
- • CubeSmart operates 1,515 self-storage properties in the U.S. and is ranked among the top three owners and operators by the 2025 Self Storage Almanac.
Summary
CubeSmart and CBRE Investment Management have formed a strategic joint venture with an initial capitalization of $250 million dedicated to self-storage real estate. The venture announced its first acquisition, a self-storage location in Phoenix, Arizona. According to the companies, the venture will invest across core, core-plus, and value-add opportunities in high-growth markets throughout the United States.
CubeSmart will serve as the operating manager for the stores held by the venture, leveraging its operating platform to enhance property value. The structure allows CBRE IM to deploy institutional capital into self-storage while CubeSmart applies its operational expertise to the assets.
CubeSmart President and Chief Executive Officer Christopher P. Marr described the partnership as a long-term value creation relationship built on a history of collaborative partnerships. He said the venture reflects the company's disciplined approach to capital deployment and allows it to enhance its growth profile and expand its footprint in attractive markets.
Julie Ingersoll, Chief Investment Officer of Americas Direct Real Estate Strategies at CBRE Investment Management, said CBRE IM is already an active self-storage investor across its platform and that the new venture demonstrates the firm's high conviction in the sector. She noted that the two companies have worked together on operations for several years and that CBRE IM reviewed a number of high-quality opportunities with CubeSmart before establishing the venture.
CubeSmart is a self-administered and self-managed REIT that owns or manages 1,515 self-storage properties across the United States. According to the 2025 Self Storage Almanac, it is one of the top three owners and operators of self-storage properties in the country.
CubeSmart will serve as the operating manager for the stores held by the venture, leveraging its operating platform to enhance property value. The structure allows CBRE IM to deploy institutional capital into self-storage while CubeSmart applies its operational expertise to the assets.
CubeSmart President and Chief Executive Officer Christopher P. Marr described the partnership as a long-term value creation relationship built on a history of collaborative partnerships. He said the venture reflects the company's disciplined approach to capital deployment and allows it to enhance its growth profile and expand its footprint in attractive markets.
Julie Ingersoll, Chief Investment Officer of Americas Direct Real Estate Strategies at CBRE Investment Management, said CBRE IM is already an active self-storage investor across its platform and that the new venture demonstrates the firm's high conviction in the sector. She noted that the two companies have worked together on operations for several years and that CBRE IM reviewed a number of high-quality opportunities with CubeSmart before establishing the venture.
CubeSmart is a self-administered and self-managed REIT that owns or manages 1,515 self-storage properties across the United States. According to the 2025 Self Storage Almanac, it is one of the top three owners and operators of self-storage properties in the country.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.