Absolute Storage Management Third Quarter Results
November 1, 2021 in Management News
Absolute Storage Management Reports 2021 Third Quarter Results
Absolute Storage Management (ASM), a leading third-party management company for self-storage facilities in the United States, announced operating results for the three and nine months ended September 30, 2021.
2021 Highlights for Three Months Ended September 30, 2021:
- Increased same-store revenue by 17.1% compared to the same period in 2020.
- Achieved net operating income (NOI) of 22.5% in the same period in 2020.
- Acquired three (3) management contracts of operating facilities.
2021 Highlights for Nine Months Ended September 30, 2021:
- Increased same-store revenue by 13.9% vs. the same period in 2020.
- Ended the time period with 94.4% Square Ft. Occupancy compared to 89.5% in 2020.
- The combination of strong street rate growth, coupled with decreased discounting have produced significant growth in the achieved rent per occupied unit which is up 13.5% over the same time last year.
- Decreased rental concessions by 38.6%.
- Added twelve (12) stores to third-party management portfolio.
Scott Betty, CEO of Absolute Storage Management, comments on the year’s performance saying, “2021 continues to be a year filled with all sorts of challenges and wonderful successes. I’m incredibly pleased with our company’s performance and our team’s dedication to delivering the best service possible to our tenants, our property owners, and our communities. Our combination of experience, leadership, technology, and adaptability has served us well over the past two years and I’m so excited to see how strong we finish the year.”
ASM actively manages 128 properties in 16 states. Over the three-month quarter ending September 30, 2021, ASM gained management of the following properties: Crawford Storage and Arnoldsville Storage in Crawford, GA; and Watkinsville Storage in Watkinsville, GA.
Absolute Storage Management
Absolute Storage Management (ASM) is one of the largest private, third-party self-storage management company in the United States. 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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