Self-Storage Management Firm ASM Reports 3Q 2021 Financial Results

Absolute Storage Management (ASM), a self-storage owner and property-management firm, has announced its operating results for the third quarter and first nine months of 2021. The company increased same-store revenue by 17.1% compared to the same period last year. Same-store net operating income increased by 22.5%, according to a press release.

ASM gained three management contracts during the quarter. The properties are Arnoldsville Storage and Crawford Storage in Crawford, Georgia, and Watkinsville Storage in Watkinsville, Georgia.

Year to date, the company has achieved an average 94.4% square foot occupancy, up 4.9% from the same period in 2020. It increased same-store revenue by 13.9% and decreased rental concessions by 38.6% vs. the same period last year, the release stated.

“2021 continues to be a year filled with all sorts of challenges and wonderful successes. I’m incredibly pleased with our company’s performance and our team’s dedication to delivering the best service possible to our tenants, our property owners and our communities,” said CEO Scott Beatty. “Our combination of experience, leadership, technology and adaptability has served us well over the past two years, and I’m so excited to see how strong we finish the year.”

Founded in 2002, ASM operates 128 properties in 16 states. Headquartered in Memphis, Tenn., it has regional offices in Atlanta; Charlotte, N.C.; Jackson, Miss.; and Nashville, Tenn.