3rd Quarter Results Reflect Continued Growth for Absolute Storage Management

November 18, 2017 7:00 AM | Melissa Huff (Administrator)

FOR IMMEDIATE RELEASE                                                                                                                   November 17, 2017

3rd Quarter Results Reflect Continued Growth

For Absolute Storage Management

MEMPHIS, Tennessee –Absolute Storage Management (ASM), a leading private, third-party self storage management company for self-storage facilities in the United States, announced operating results for the three months ended September 30, 2017.

2017 Highlights for Three Months Ended September 30, 2017:

  • Increased same-store revenue by 4.2% vs. the same period in 2016.
  • Reported same store occupancy of 86.5% as of September 30, 2017. Compared to 84.8% as of September 30, 2016.
  • Acquired management of two facilities at completion of construction.  

2017 Highlights for Nine Months Ended September 30, 2017:

  • Increased same-store revenue by 5.9% vs. the same period in 2016. 
  • Acquired four operating facilities and nine facilities at completion of construction.

ASM’s 2017 same store pool consists of 57 stabilized properties managed since January 1, 2016. The outstanding income growth that these properties displayed is a direct result of ASM’s expertise in revenue and occupancy management. This management is monitored by committed team members and is accomplished by increasing existing tenant rates and proper management of local street rates.

ASM reports no substantial damage to properties from Hurricanes Harvey, Irma or Maria; however, the hurricanes were cause for issues including property inaccessibility, minor property damages, power outages, phone outages, and team member availability shortages.

As of quarter end, ASM actively manages 96 properties in 13 states. Over the quarter, ASM gained two total properties in the Southeastern United States. These properties include Scenic City Self Storage in Chattanooga, TN and Hernando Self Storage in Hernando, MS.

Absolute Storage Management

Absolute Storage Management (ASM) is a leading provider of private, third-party self-storage management 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 Jasmin Jones at jasmin.jones@absolutemgmt.com.


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