How is StorageMart outperforming the publicly traded REIT’s?
Description
Join me on Stories Behind the Door for a captivating conversation with Alex Burnam, Vice President of Acquisitions at StorageMart. As a member of the third generation of the Burnam family in the business, Alex offers a unique perspective on the industry's evolution and its current challenges
Alex provides a candid analysis of the acquisition market's rapid decline from its 2021 peak, explaining how rising interest rates and a disconnect between buyers and sellers have created a "perfect storm" for falling valuations . He also offers hope for the future, sharing data points that connect new home construction and smaller home designs to a positive long-term demand for self-storage.
We discuss StorageMart's strategic decision to launch a third-party management program, which Alex says serves as a pipeline for off-market acquisitions and a way to help other operators. Finally, Alex reveals the secrets behind StorageMart's incredible record of beating the REIT average for same-store NOI growth for ten consecutive quarters, highlighting their nimble, innovation-obsessed culture as a key factor.
Connect with Thaddeus Campbell:
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Website: https://s3.partners/
Connect with Alex Burnam:
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Email: alex.burnam@storage-mart.com
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Website: storage-mart.com
This episode was brought to you by:
https://www.kiwiconstruction.com/
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