Facility and Management News

Third Quarter (Q3) Results for Absolute Storage Management

October 28, 2022 in Facility and Management News

Absolute Storage Management (Absolute), 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, 2022. 

2022 Highlights for Three Months Ended September 30, 2022: 

  • Increased same-store revenue by 12.5% compared to the same period in 2021.  
  • Acquired eight (8) management contracts: seven (7) operating facilities, some from previous REIT management, one (1) facility at the completion of construction.  

2022 Highlights for Nine Months Ended September 30, 2022:  

  • Increased same-store revenue by 16.0% vs. the same period in 2021. 
  • Increased achieved rent per occupied unit by 19.3% over the same period in 2021.   
  • Maintained stable rental concessions over the same period in 2021. 
  • Added twenty-eight (28) stores to third-party management portfolio.  

CEO, Scott Beatty, is quoted saying, “I’m extremely proud of our team as we continue to deliver outstanding results for our clients and a fantastic rental experience for our tenants. Our results for the quarter and year-to-date are tremendous in the face of increased pricing pressure and a slight decrease in overall lead activity for the industry. We look forward to finishing the year off with a strong fourth quarter.”   

Absolute actively manages 133 properties in 16 states. Over the three-month quarter ending September 30, 2022, Absolute gained management of the following properties: LokStar Self Storage in Madison, AL; Milton Self Storage in Alpharetta, GA; Ellenwood’s Best Storage in Ellenwood, GA; Ponchatoula Storage in Ponchatoula, LA; Barton Mini Storage in Byhalia, MS; MyPlace Self Storage in Dallas, TX; MyPlace Self Storage in Houston, TX; and Safe Space Storage in Waco, TX. 

Absolute Storage Management  

Absolute Storage Management (Absolute) is one of the largest private, third-party self-storage management companies in the United States and is number nine on Inside Self Storage’s top management companies list for 2021. Founded in 2002, Absolute’s headquarters are in Memphis, TN with regional offices in Sarasota, FL; Atlanta, GA; Jackson, MS; Charlotte, NC; and Nashville, TN. The company’s mission is to grow successful partnerships with customers, team members, and investors by delivering excellence in service.  

For further information and news about Absolute Storage Management, please go to Absolute’s website at www.aboutASM.com or contact Jasmin Jones at jasmin.jones@absolutemgmt.com