Several real estate firms that specialize in self-storage commercial property have released online reports highlighting key performance metrics from the fourth-quarter 2015 financial results issued by the five largest publicly traded, U.S.-based self-storage real estate investment trusts (REITs)—CubeSmart, Extra Space Storage Inc., National Storage Affiliates Trust, Public Storage Inc. and Sovran Self Storage Inc.
Bayview Advisors released its 10-page “Self-Storage Industry and REIT Report Q4 2015 and End of Year 2015,” which highlights year-over-year results on rental revenue, tracks quarterly occupancy during the last 16 quarters, and includes dividend amounts, facility counts, square footage and stock prices for the five REITs as well as AMERCO, the parent company of U-Haul International Inc. It also includes self-storage performance summaries for each company.
A three-page “Self Storage REIT Report” from the national self-storage team at JLL (Jones Lang LaSalle) offers a collective overview of storage REIT performance as well as individual breakdowns of the five REITs on expenses, NOI, occupancy and revenue.
An eight-page “Q4 2015 Self-Storage REIT Report” from the National Self Storage Group (NSSG) of Marcus & Millichap and The Mele Group, a self-storage advisory firm and partner affiliate of NSSG, offers a collective overview of storage REIT performance as well as individual breakdowns of the five REITs on acquisition activity, net operating income, occupancy, revenue and other metrics.
The 32-page “Self Storage Market Overview” from MJ Partners Real Estate Services offers a market overview, including capital summaries, implied cap rates, investment activity and portfolio structure for the five REITs, as well as chart data and side-by-side comparisons on self-storage facility performance. It also contains information from analysts on macroeconomic trends impacting the U.S. storage industry as well as a look at storage REIT performance as a whole.
Finally, a five-page “4Q15 Self Storage REIT Report” from NGKF Capital Markets provides an overview and analysis of self-storage REIT performance collectively and in comparison to other REIT sectors. It includes market indexes and comparison charts examining self-storage REIT occupancy, adjusted FFO, dividends per share, same-store revenue and historical stock prices. It also includes highlights from all five REIT fourth-quarter financial statements.
Launched last year, BayView is a boutique firm specializing in self-storage acquisition, development, facility expansion and renovation, refinancing, and sales. It has offices in Cleveland, Milwaukee and Tampa, Fla.
JLL is an investment-management firm specializing in real estate services for property investors and occupiers. The company has more than 230 corporate offices around the world and a global workforce of more than 60,000 employees. It completed $138 billion in acquisitions, finance and sales transactions in 2015.
The Mele Group is Marcus & Millichap’s top self-storage advisory team, according to a press release. The group's client base consists of individual property owners, real estate investment trusts, and private institutional-level funds and firms. In 2015, the group closed 47 self-storage transactions in 11 states for more than $280 million.
Marcus & Millichap has more than 1,500 investment professionals in offices throughout the United States and Canada. The company closed more than 7,600 transactions in 2014 with a value of approximately $33.1 billion.
Based in Chicago, MJ Partners is a full-service real estate brokerage and investment banking company specializing in commercial real estate, mortgage banking and consulting services. The company's clients include major financial institutions, private equity funds, REITs, opportunity funds, insurance companies, pension-fund advisers, corporations, private developers and entrepreneurial businesses.
NGKF Capital Markets is a group within commercial real estate advisory firm Newmark Grubb Knight Frank (NGKF), which offers investment sales, transaction management, debt placement, proprietary lending, and appraisal and valuation advisory services. Together with its affiliates and London-based partner Knight Frank, NGKF employs more than 11,000 professionals, operating from more than 340 offices on five continents.
- BayView Advisors: Self-Storage Industry and REIT Report Q4 2015 and End of Year 2015
- JLL: Self Storage REIT Report
- MJ Partners: Self Storage Market Overview
- NGKF Capital Markets: 4Q15 Self Storage REIT Report
- The Mele Group: Q4 2015 Self-Storage REIT Report