Storage Asset Management Announces 2020 Results
Storage Asset Management (SAM) is proud to announce another excellent year of results for their managed stores. For the total year 2020, SAM increased same store* revenue by 4.9% and grew net operating income by 7.2% above 2020’s results. Although SAM is a private company, the team compares their results to the results released by the publicly traded self storage operators, and SAM was able to outperform all five of them again in 2020 with astounding results.
To add to these remarkable results, SAM reached 310 locations in 2020, ending the year managing in 31 states with 553 employees. The managed stores encompassed 135,190 storage units and 19,461,935 square feet while collecting over $160 million in rent.
In 2020, SAM was again the largest privately held management company in the self storage industry, and 5th largest third party facility management company overall.
Even in the unprecedented year, SAM attributes the outstanding results to a very strong team with the ability to focus on doing what is best for each individual facility, while using data and technology to make smart decisions and improve efficiencies. SAM’s results in these uncertain times were also due to ability to quickly adapt as well as already having systems in place. SAM’s managed facilities were equipped with technology to allow for a safe working environment for employees as well as already offering online rentals to tenants for the past five years.
For more information on SAM’s management services, view our FAQ here.
*SAM’s same-store pool for the period consists of 107 stores that were stabilized by Jan 1, 2019. SAM considers a store to be stabilized once it has been open for three years or has sustained average square foot occupancy of 80.0% or more for one calendar year. If a property reduces in size, it is removed from the same store pool until the beginning of the calendar year at least 12 months from the date of change.