Sentry Self Storage Management Reports Fourth Quarter 2016 Financial Results
Coral Springs, Florida (PRWEB) January 30, 2017 -- 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.
Rick Yonis, Sentry Self Storage Management, http://www.Sentry-SelfStorage.com, +1 954-346-2330, [email protected]
Share this article