SmartStop Self Storage REIT announced its overall results for the three- and six-month periods ended June 30, 2020.
“While there is no doubt that COVID-19 had an impact on all businesses, self-storage has remained relatively stable in the midst of this pandemic,” said H. Michael Schwartz, executive chairman of SmartStop. “It speaks to the power of the SmartStop platform and the investments made in technology over the years that we were able to continue to grow occupancy and revenues during the second quarter. Additionally, the transformation of SmartStop Self Storage REIT into a self-managed company last year is continuing to bear fruit in the form of FFO, as adjusted growth, despite macroeconomic headwinds.”
Second quarter 2020 highlights:
Increased total self-storage-related revenues by approximately $0.2 million, or 0.9 percent, when compared to the same period in 2019.
FFO, as adjusted, increased by approximatel
