2nd Quarter Results Reflect Continued Exceptional Growth For Absolute Storage Management

August 30, 2016

 

 

MEMPHIS, Tennessee –Absolute Storage Management (ASM) has seen continued growth in recent years. This growth has resulted in a well-earned reputation as one of the top management providers in the self storage industry.

 

2016 Highlights for Three Months Ended June 30, 2016:

  • Increased same-store Revenue by 9.0%, compared to 8.8% from same period in 2015.
  • Added two new development properties to the portfolio.

 

2016 Highlights for Six Months Ended June 30, 2016:

  • Increased same-store YOY Income Revenue by 9.8%, compared to 9.4% from same period in 2015.
  • Achieved same-store Square Foot Occupancy of 88.0%.
  • Added seven properties to management portfolio through traditional acquisition and new construction.

 

Michael Haugh, President and CEO of ASM, says that “We are extremely excited that this quarter’s results mark the fourth consecutive quarter growth of 9.0% or more for ASM which continues to help us stand above our competition.”

 

ASM’s 2016 same store pool consists of the 55 stabilized properties managed since December 31, 2014. The unwavering income growth that the property pool displayed is a direct result of ASM’s expertise of revenue management. This management is monitored by committed team members and is accomplished by raising current tenant rates and proper management of local street rates.

 

As of quarter end, ASM actively manages 91 properties in 12 states. Over the three-month quarter ending June 30, 2016, ASM gained two total properties in the Southeastern United States markets. These properties include Hialeah Drive Self Storage in Hialeah, FL and Main Street Climate Storage in Chattanooga, TN.

 

Over the six-month year-to-date ending June 30, 2016, ASM gained the additional properties: Coastal Mini Storage in Brunswick, GA; Fountainbleau Self Storage in New Orleans, LA; Grand Oaks Self Storage in Summerville, SC; Lost River Self Storage in Bowling Green, KY; and Pikeville Self Storage in Pikeville, KY.

 

Absolute Storage Management

Absolute Storage Management (ASM) is the largest private, third-party self-storage management company in the United States. Founded in 2002, ASM’s headquarters are in Memphis, TN with regional offices in Atlanta, GA; Charlotte, NC; Nashville, TN; and Jackson, MS. The company’s mission is to grow successful partnerships with customers, team members, and investors by delivering excellence in service.

 

For further information and news about Absolute Storage Management, please go to the ASM website at www.absolutemgmt.com. Contact Grace Anderson at grace.anderson@absolutemgmt.com or call her at 901-737-7336 ext. 705.

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