Coral Springs, Florida (PRWEB) January 30, 2017
Sentry Self Storage Management has announced operating results for the fourth quarter ended December 31, 2016.
- 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.