Second Quarter (Q2) Results for Absolute Storage Management
August 18, 2021 in Management News
Absolute Storage Management (ASM), a leading third-party management company for self-storage facilities in the United States, announced operating results for the three months ended June 30, 2021.
2021 Highlights for Three Months Ended June 30, 2021:
- Increased same-store revenue by 15.7% vs. the same period in 2020.
- Acquired six (6) management contracts: three (3) operating facility and three (3) facilities at the completion of construction.
2021 Highlights for Six Months Ended June 30, 2021:
- Increased same-store revenue by 12.2% vs. the same period in 2020.
- Ended the period with 94.1% Unit Occupancy, a 6.7% increase vs. the same period in 2020.
- Ended the period with 25.8% increase in GPI vs. the same period in 2020.
- Added nine (9) stores to third-party management portfolio.
ASM’s 2021 same-store pool consists of 75 stabilized properties managed since January 1, 2020. The average size of these properties is 55,400 rentable square feet and these properties have been managed by ASM for an average of seven and a half years. In total, the group comprises 31,339 units and over 4.2 million square feet.
CEO Scott Beatty comments that “We are excited about our performance for both the second quarter and the first half of the year. Our team has done a fantastic job in serving our customers in this trying time and we are looking forward to a strong second half of the year.”
ASM actively manages 132 properties in 16 states. Over the three-month quarter ending June 30, 2021, ASM gained management of the following properties: River Rock Storage in Gastonia, NC; Wilson Road Storage in Sanford, NC; Clemson Climate Storage in Pendleton, SC; Woodruff Storage Lakeside Village in Midland, GA; One Stop Storage in Toledo, OH; and Pumpkin Center Boat & RV Parking in Hammond, LA.
Absolute Storage Management
Absolute Storage Management (ASM) is one of the largest private, third-party self-storage management company in the United States and is number nine on Inside Self Storage’s top management companies list for 2021. Founded in 2002, ASM’s headquarters are in Memphis, TN with regional offices in Atlanta, GA; Charlotte, NC; Nashville, TN; and Jackson, MS. The company’s mission is to grow successful partnerships with customers, team members, and investors by delivering excellence in service.
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