Self-Storage REITS improving in 2Q of 2021
Record levels of acquisition activity in the market during the first half of 2021
Key highlights from Self Storage REITS Q2 2021 report filings:
- Strategic acquisitions remain prevalent among the national REITs. With record levels of acquisition activity in the market during the first half of 2021, all of the national REITs have increased their acquisition volume guidance through the second half of the year.
- Occupancy across the national REITs is at a record high, driving revenue performance and creating additional rent growth opportunity.
- Although new construction is increasingly constrained by rising construction costs and entitlement/permitting challenges, new competition continues to enter the market in a meaningful way.
- Third party management platforms continue to grow among the national REITs.