Sentry Self Storage Management Reports Fourth Quarter 2016 Financial Results

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Net Operating Income and Occupancy have both increased as compared to the fourth quarter of 2015.

Sentry Self Storage Management has announced operating results for the fourth quarter ended December 31, 2016.

Key Highlights:

  • Revenue growth of 7.3% and a 0.6% decrease in property expenses drove Net Operating Income (“NOI”) to increase by 9.4% year over year.
  • Occupancy at the end of the quarter was 90.9%, which is an increase of 30 basis points compared to the same quarter of 2015.
  • Third Party Management and Company Owned facilities portfolio includes 25 facilities containing over 2.1 million net rentable square feet.
  • During the 4th quarter, two new management contracts were added. The properties are in Houston, Texas and Orlando, Florida. Both assets come on board in the first quarter of 2017.
  • Development and conversion activities include deals in Deerfield Beach, FL and Hollywood, FL.
  • A joint-venture project opened in December 2016 in North Haven, CT.

Sentry Self Storage was founded in 1997 to provide the self-storage industry with state-of-the-art, consumer friendly, secure and convenient locations throughout the United States. We offer a full spectrum of services and a wealth of experience and knowledge to deliver maximum property results.

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Rick Yonis
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