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CubeSmart Announces Closing of Public Offering of Common Shares, Pricing of Senior Notes Offering by CubeSmart L.P.

CubeSmart Announces Pricing of Public Offering of Common Shares Background Image

Vinson & Elkins served as underwriters’ counsel in the public offering of common shares by CubeSmart and a senior notes offering by CubeSmart, L.P.

Vinson & Elkins served as underwriters’ counsel in connection with CubeSmart’s public offering of 15,525,000 of its common shares, including the exercise in full by the underwriters of the option to purchase additional shares, at a per share public offering price of $51.00, for total gross proceeds of approximately $791.8 million. The offering closed November 19, 2021.

V&E also served as underwriters’ counsel in connection with CubeSmart’s operating partnership, CubeSmart, L.P.’s, offering of $550 million aggregate principal amount of 2.25% senior unsecured notes due 2028 and $500 million aggregate principal amount of 2.50% senior unsecured notes due 2032. The offering priced on November 18, 2021 and is expected to close on November 30, 2021.

The V&E corporate team was led by partners Chris Green and David Stone, with assistance from senior associate Stancell Haigwood and associates Joe Milano, Maria Black, Heather Jones, Ryan Wynne and John Draxler. Other key team members included partner Chris Mangin, senior associate Paige Anderson and associate Christina McLeod; associate Kelly Rondinelli; and associate Jason Robinson.

CubeSmart is a self-administered and self-managed real estate investment trust that owns or manages 1,251 self-storage properties across the United States.

About Vinson & Elkins
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