CubeSmart Announces Appointment of Christopher P. Marr as CEO, Effective January 1, 2014

CubeSmart Announces Appointment of Christopher P. Marr as CEO, Effective 
January 1, 2014 
WAYNE, PA -- (Marketwire) -- 02/20/13 --  CubeSmart (NYSE: CUBE), a
leader in the self-storage industry, today announced that its Board
of Trustees has appointed Christopher P. Marr as successor to Dean
Jernigan as Chief Executive Officer, effective upon Mr. Jernigan's
previously announced retirement on December 31, 2013.  
Mr. Marr, a self-storage industry veteran, has more than 18 years of
real estate investment trust (REIT) executive management experience.
Mr. Marr currently serves as CubeSmart's President, Chief Operating
Officer, and Chief Investment Officer, in which capacity he has led
the successful repositioning of the Company's property portfolio and
has overseen significant advancements across all functions of the
Company. Marr joined the Company in 2006 as Chief Financial Officer,
after serving as Chief Financial Officer of Brandywine Realty Trust,
a publicly-traded office REIT, from 2002 to 2006 and as Chief
Financial Officer of Storage USA, Inc., a publicly-traded
self-storage REIT, from 1998 to 2002. 
William M. Diefenderfer III, Chairman of CubeSmart's Board of
Trustees commented, "The Board recognizes Dean's tremendous
leadership in transforming the Company and building a secure
foundation for future growth. We are fortunate to have not one, but
two of the self-storage industry's most experienced executives. Chris
is a natural leader and a strategic thinker. He has broad experience
in all facets of the self-storage business and a strong public
company track record. The Board recognizes that succession is among
its top responsibilities and is very confident in a seamless
"My tenure as CEO has been exceedingly rewarding," added Dean
Jernigan, Chief Executive Officer. "I am proud of our many
accomplishments over the past seven years, as we have completely
transformed this company's operational infrastructure, property
portfolio, balance sheet, and culture. However, I am most proud of
the extraordinary team of people that we have at CubeSmart. I have
had the great fortune of working with Chris for nearly 20 years, and
I cannot think of a more fully-prepared, capable, and deserving
person to lead CubeSmart into its next phase of prof
itability and
"We are at an important point in the evolution of the self-storage
industry," said Christopher Marr. "Scale and sophistication provide
greater competitive advantages than ever before, and CubeSmart is
well-positioned to be a leader in the sector. In the years ahead, we
have a clear path to maximize shareholder value through disciplined
internal and external growth initiatives. I am excited about the
future of our company and am honored by the confidence placed in me
to lead us forward." 
About the Company  
CubeSmart is a self-administered and self-managed real estate
investment trust. CubeSmart owns or manages 515 self-storage
facilities across the United States. According to the 2012 Self
Storage Almanac, CubeSmart is one of the top four owners and
operators of self-storage facilities in the U.S.
 The Company plans
to exceed Customer expectations by adding more personalized services
and technology to some of the best storage spaces around. The
Company's self-storage facilities are designed to offer affordable,
easily accessible, secure, and in most locations, climate-controlled
storage space for residential and commercial customers, as well as
boat storage and mini storage. CubeSmart(R) services include storage
customization, logistics services, comprehensive moving services,
organizational services, and office amenities. 
For more information about business and personal
 storage or to learn
more about the company and find a nearby storage facility, visit or call CubeSmart toll free at 800-800-1717. 
Forward-Looking Statements  
Although the Company believes the expectations reflected in any
forward-looking statements in this press release are based on
reasonable assumptions, there can be no assurance that such
expectations will be achieved. You should not rely on our
forward-looking statements because the matters they describe are
subject to known and unknown risks and uncertainties that could cause
the Company's future results, performance, or achievements to differ
significantly from the results, performance, or achievements
expressed or implied by such statements. Such risks are set forth
under the captions "Item 1A. Risk Factors" and "Forward-Looking
Statements" in our annual report on Form 10-K and under the caption
"Item 2. Management's Discussion and Analysis of Financial Condition
and Results of Operations" (or similar captions) in our quarterly
reports on Form 10-Q, and described from time to time in the
Company's filings with the SEC. For forward-looking statements
herein, the Company claims the protection of the safe harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. The Company assumes no obligation to
update or supplement forward-looking statements that become untrue
because of subsequent events. 
Company Contact:
Daniel Ruble
Vice President, Finance
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