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Announcing Our 2015 Results

Storage Asset Management (SAM) is proud to announce the operating results of their managed properties in 2015.  As a mid-sized and privately held third party management company focused on growth, SAM holds themselves to very high standards and expectations.  In 2015, SAM managed 48 properties in thirteen states in the eastern part of the United States.  Each year, SAM compares their results to those of 4 publicly traded self storage REITS; CubeSmart, Extra Space Storage, Sovran Self Storage (Uncle Bob’s), and Public Storage.

Those four companies release their “Same Store” operating results to their investors and the public.  To understand the results, we need to understand what “Same Store” means in the storage industry.  Some companies exhibit growth in revenue by opening new stores. Some companies exhibit growth by making more money from the “mature” stores they already own. The same-store sales information points out the difference. An increase in same-store sales, from mature (no longer in lease up) properties only, may indicate that existing customers are spending more with the company or demand is increasing, bringing up occupancy.

For the full year of 2015, SAM increased same store revenue by 8.4%, and net operating income by 10.1%.  Occupancy at SAM same store locations grew 1.7% from 12/31/14 through 12/31/15.  SAM outperformed three of the 4 public REITs in net operating income growth.

SAM 2015 reults

Other highlights from SAM’s 2015 year include collecting over $18.3 million in rent and managing over 2.7 million in square footage, which was a 17% increase from 2014.  SAM also created and launched their own brand for self storage properties, Storage Sense.

SAM attributes their 2015 outstanding results to numerous factors, including; a strong team of Property Managers and Assistant Managers; District Managers’ ability to focus and train, with an average of 10 properties per DM; company-wide focus on training; customized marketing and operating plans for each location; and an ability to build solid local business to business relationships in markets we serve.

SAM-Infographic-2015-year-in-review

 

 

Looking ahead to 2016, Storage Asset Management is excited for another outstanding year. Since January 1, 2016, SAM has been awarded seven new management contracts in four states, including their first managed property in Colorado.

 

Storage Asset Management is a property management & consulting company that specializes in self-storage.  Their strategy is to create value for their clients through customized solutions that fit within their budget and allows each property to maintain their identity.  SAM currently manages over 50 self-storage facilities.   For more information on SAM, visit www.storageassetmanagement.com

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