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CubeSmart operating partnership nets $346M in debt offering

CubeSmart's operating partnership on Oct. 11 closed an underwritten public offering of $350.0 million of 3.000% senior unsecured notes due Feb. 15, 2030, raising approximately $345.9 million in net proceeds.

The self-storage real estate investment trust aims to use the net proceeds to fully repay outstanding debt incurred under its unsecured revolving credit facility maturing in June 2024, with the remainder to go toward working capital and other general corporate purposes.