Memphis, TN, May 17, 2019 --(PR.com
)-- 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 March 31, 2019.
2019 Highlights for Three Months Ended March 31, 2019:
- Increased same-store revenue by 3% vs. the same period in 2018.
- Ended the time period with 88.6% Square Ft. Occupancy.
- Reported same-store net operating income ("NOI") by 5.9% compared to the same period in 2018.
- Acquired seven (7) management contracts: three (3) operating facilities and four (4) facilities at the completion of construction.
ASM’s 2019 same store pool consists of 68 stabilized properties managed since January 1, 2018. The income growth that these properties displayed is a direct result of ASM’s expertise in revenue and occupancy management, and the overall NOI growth is aided by consistent expense monitoring and economies of scale.
“We are excited that our overall GPI for the same-store property set has increased 3.2% year-over-year, and our expected income is up 4%,” said Jennifer Barnett, Chief Operating Officer. “Our team has done a phenomenal job managing rates in this highly competitive market.”
ASM actively manages 122 properties in 14 states. Over the three-month quarter ending March 31, 2019, ASM gained management of the following properties: Will-Stor Self Storage in Louisville, KY; Madison Self Storage in Shelbyville, TN; Pensacola Storage (previously named Storage Stop) in Pensacola, FL; Fayetteville Storage on Yadkin Road in Fayetteville, NC; Fayetteville Storage of Owen Drive in Fayetteville, NC; StorGard Self Storage in Buford, GA; and Tupelo Storage in Tupelo, MS.
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.
For further information and news about Absolute Storage Management, please go to the ASM website at www.absolutemgmt.com. Contact Jasmin Jones at firstname.lastname@example.org.