Storage Asset Management (SAM) is proud to announce another great year of results for their managed stores. For the total year 2019, SAM increased same store* revenue by 6.3% and grew net operating income by 9.0% above 2018’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 2019.
To add to these remarkable results, SAM reached 200 locations in 2019, ending the year with 217 managed stores in 28 states; and 448 employees, which is a 38% growth from 2018. The managed stores encompassed 108,692 storage units and 15,239,823 square feet while collecting over $121 million in rent.
In 2019, SAM was the largest privately held management company in the self storage industry, and 5th largest overall.
SAM attributes the outstanding year 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 efficiency.
*SAM’s same-store pool for the period consists of 63 stores that were stabilized by Jan 1, 2018. 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.