Sentry Self Storage Management Reports Fourth Quarter 2020 Financial Results
Net Operating Income has increased as compared to the fourth quarter of 2019.
CORAL SPRINGS, Fla., Jan. 28, 2021 /PRNewswire-PRWeb/ -- Sentry Self Storage Management has announced operating results for the fourth quarter, ending on December 31st, 2020.
Key Highlights:
- Revenue growth of 9%, and slightly elevated property expenses drove net operating income (NOI) to a 6% year over year increase.
- Quarter over quarter, revenue grew by 6%, operating expenses remained relatively flat, and net operating income increased by 8%.
- Portfolio occupancy held steady at 89%.
- Third Party Management and Company Owned facilities portfolio includes 24 facilities containing 1.8M net rentable square feet.
- Expansion is currently in progress at three properties, one located in Boca Raton, Florida, another in Tampa, Florida, and a third in Orlando, Florida with anticipated completion dates in 2021. Sentry is also in the initial planning phases for a new store in East Boca Raton, Florida. Estimated completion is 2021.
Sentry Self Storage Management 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. Sentry has its finger on the pulse of the industry. For additional information, please visit us at http://www.sentry-selfstorage.com or call (954) 228-4611.
Media Contact
Scott McLaughlin, Sentry Self Storage Management, +1 954-341-4940 Ext: 1, [email protected]
SOURCE Sentry Self Storage Management
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