4 March 2019
SAM Announces 2018 Annual Results
Storage Asset Management is a third-party self-storage management company based in York, PA. The company is proud to announce its 2018 results for their managed stores. These annual results are for same-stores, comparing 2017 to 2018. In 2018, SAM has increased same store revenue by 7.1% and net operating income (NOI) by 6.5%.
Additionally, each year SAM compares itself to 5 publicly traded self storage companies, REITS (real estate investment trusts), of CubeSmart, Extra Space Storage, Life Storage, Public Storage, and National Storage Affiliates Trust. SAM outperformed all five of the public REITs in these two categories, by over two percent in revenue and one percent in NOI.
SAM Annual Highlights for 2018
SAM’s 2018 Management Portfolio included:
The Managed Stores Under SAM:
- 149 self-storage facilities in 24 states, operating under 60 brands
- 72,504 storage units, encompassing 10,193,881 net rentable square feet
- 336 total employees
- Grew same-store occupancy by 2.3%
- Collected over $63 million in revenue
- Moved in over 58,400 tenants, including 1,481 complete online rentals
- Collected 2,601 reviews, with an average 4.6 star rating
Storage Asset Management continued to be a leading player in the self-storage industry. In 2018, SAM was again the largest privately owned self-storage management company, and ranked number 6 overall (behind the REITs) in number total square feet under management. SAM was also selected as Inside Self Storage’s Best Operating Consulting company in the ISS Best of Business awards for the second year in a row.
SAM holds themselves to very high standards and expectations. SAM attributes the outstanding 2018 to a strong team of Store Managers and Assistant Managers; District Managers’ ability to focus and train; company-wide focus on training; customized marketing and operating plans for each location; industry leading online/digital marketing strategies; and an ability to build solid local business to business relationships in each market we serve. SAM also maintains strong relationships with their managed storage facilities’ owners and other self-storage industry leaders.
View our 2018 annual results video here.