Investor Presentaiton
MSA Exposure - Same-Store
Same-Store Portfolio at 9/30/23
SmartStop
Self Storage REIT, Inc.
...The Smarter Way to Store!
Net Rent / Occupied Sq. Ft.
for the Three Months Ended
(2)
MSA/CMA)
% of NOI
# of
Stores
Miami Fort Lauderdale
Toronto (4)
12.9%
10
Net Rentable
Sq. Ft.
1,025,300
September 30,
Avg. Occupancy for the
Three Months Ended
September 30,
Revenue for the Three Months
Ended September 30,
Expenses for the Three Months
Ended September 30,
NOI for the Three Months
Ended September 30, (3)
Units
2023
2022
2023
2022
Change
2023
2022
% Change
2023
2022
% Change
2023
2022
% Change
8,620
$26.05
$24.35
93.2%
94.4% -1.2%
$5,789,013
$5,573,864
3.9%
$1,542,427
$1,464,711
5.3%
$4,246,586
$4,109,153
3.3%
12.3%
13
1,110,655
10,610
21.05
20.40
93.5%
92.9% 0.6%
5,580,171
5,332,318
Los Angeles
Las Vegas
8.8%
10
660,400
6,200
26.18
23.57
92.8%
95.2% -2.4%
3,892,435
3,632,750
6.7%
8
757,100
6,210
18.60
19.25
93.2%
94.6% -1.4%
2,979,963
3,154,315
4.6%
7.1%
-5.5%
1,532,071
991,713
761,258
1,580,268
-3.0%
4,048,100
3,752,050
1,088,624
-8.9%
2,900,722
2,544,126
7.9%
14.0%
687,048
10.8%
2,218,705
2,467,267
-10.1%
Asheville
6.6%
14.
851,900
6,200
16.85
15.71
94.9%
94.8% 0.1%
3,026,019
2,899,736
4.4%
853,978
774,724
10.2%
2,172,041
2,125,012
2.2%
Houston
4.3%
8
602,100
4,490
17.94
16.51
94.0%
94.9% -0.9%
2,317,027
2,172,759
6.6%
899,119
800,101
12.4%
1,417,908
1,372,658
3.3%
San Francisco - Oakland
3.6%
4
322,600
2,920
23.92
23.79
90.9%
93.9% -3.0%
1,754,522
1,822,537
-3.7%
565,256
553,723
2.1%
1,189,266
1,268,814
-6.3%
Riverside - SB
3.4%
5
306,700
2,690
21.75
20.98
93.0%
94.6% -1.6%
1,511,542
1,485,078
1.8%
388,080
407,513
-4.8%
1,123,462
1,077,565
4.3%
Denver
2.7%
6
379,785
3,320
17.50
16.54
94.5%
94.6% -0.1%
1,549,171
1,467,532
5.6%
673,390
576,994
16.7%
875,781
890,538
-1.7%
Port St. Lucie
2.6%
4
318,900
2,610
20.48
20.02
93.7%
93.2% 0.5%
1,304,416
1,295,790
0.7%
455,846
448,060
1.7%
848,570
847,730
0.1%
Phoenix
2.3%
3
265,000
2,540
16.92
17.05
93.4%
94.4% -1.0%
1,044,205
1,067,732
-2.2%
293,479
284,725
3.1%
750,726
783,007
-4.1%
Dayton
2.2%
7
392,400
3,340
12.73
12.25
93.9%
94.2% -0.3%
1,148,125
1,098,920
4.5%
415,826
366,114
13.6%
732,299
732,806
-0.1%
Tampa
2.1%
3
316,400
2,310
17.37
16.68
92.5%
93.6% -1.1%
1,049,174
1,044,609
0.4%
372,847
344,430
8.3%
676,327
700,179
-3.4%
Seattle Tacoma
2.0%
3
196,600
1,680
21.67
20.74
92.0%
Detroit
2.0%
4
266,100
2,220
15.30
15.44
94.4%
Chicago
2.0%
5
315,600
2,880
15.74
14.92
92.4%
Other
23.5%
30
Total Same-Store
100.0%
137
2,297,400 20,430
10,384,940
21.21
19.85
92.6%
94.1% -2.1%
95.3% -0.9%
94.6% -2.2%
94.8% -2.2%
938,222
920,258
2.0%
280,124
253,567
10.5%
658,098
666,691
-1.3%
89,270
$20.37
$19.39
93.2%
94.6%
-1.4%
925,768
1,175,834
11,012,362
$46,997,969
938,134
-1.3%
257,907
245,071
5.2%
667,861
693,063
-3.6%
1,125,841
10,603,518
$45,635,691
4.4%
3.9%
510,462
540,723
3,262,195
3,473,290
-5.6%
-6.1%
665,372
585,118
13.7%
3.0%
$14,055,977
$13,889,686
1.2%
7,750,167
$32,941,992
7,130,228
8.7%
$31,746,005
3.8%
Note: Data presented represents SmartStop's existing owned same-store portfolio only
MSAs (Metropolitan Statistical Areas) as defined by the U.S. Census Bureau. Toronto CMA (Census Metropolitan Area) as defined by Statistics Canada.
RentPOF defined as rental revenue net of discounts & concessions, excluding late fees, administrative fees and parking income, divided by occupied square feet of storage.
(1)
(2)
(3)
NOI is a non-GAAP measure. See Appendix for a reconciliation of this measure to the most directly comparable GAAP measure.
(4)
Presented in US Dollars (USD) as translated on average for the quarter. The average USD/CAD exchange rate for the three months ending September 30, 2023 and September 30, 2022 was 0.75x and 0.77x, respectively. For the three months ended September 30, 2023,
RentPOF, Revenue growth, Expense growth and NOI growth was $21.64, 7.6%, -0.3%, and 10.9%, respectively, on a constant currency (CAD) basis. For further detail, see our 3Q23 Financial Supplement.
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