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Self-Storage Management Firms ASM, SAM Report 2019 Financial Results

March 10, 2020

1 Min Read
Self-Storage Management Firms ASM, SAM Report 2019 Financial Results

Self-storage management firms Absolute Storage Management (ASM) and Storage Asset Management (SAM) have released their fourth-quarter and full-year 2019 operating results. Both firms showed improvements in same-store revenue.

ASM, which owns storage properties in addition to managing for others, increased same-store revenue by 1.9 percent during the fourth quarter and 3.3 percent year-over-year, according to a press release. It gained 25 management contracts in 2019, including 11 in the last quarter. The properties include Brandon Storage Center in Brandon, Fla.; Byram Self Storage in Terry, Miss.; Goodview Storage in Gallatin, Tenn.; Northport Storage in Northport, Ala.; The Storage Project in Shepherdsville, Ky.; and Will-Stor in Madison, Tenn. Also in the batch are five Go Store It properties in Bonita Springs, Fla.; Mount Juliet, Tenn.; and Cumming, Pooler and Suwanee, Ga.

SAM, a property-management and consulting firm, increased same-store revenue for the 2019 fiscal year by 6.3 percent and net operating income by 9 percent compared to 2018, according to a press release. The company reached 200 locations, ending the year with 217 managed stores in 28 states and 448 employees, a 38 percent growth from 2018. The managed stores comprise more than 15 million square feet in 108,692 units, collecting more than $121 million in rent last year.

Founded in 2002 and headquartered in Memphis, Tenn., ASM operates 132 properties in 14 states. It has regional offices in Atlanta; Charlotte, N.C.; Jackson, Miss.; and Nashville, Tenn.

Founded in 2010 and based in York, Pa., SAM oversees more than 220 storage facilities operating under 60-plus brands.

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