Description

The Q3 REIT Earnings are in! We break down the true meaning of the latest financial reports with Noah Starr, CEO of Tract IQ and former institutional investor.

Noah drops the bombshell: the real issue isn't Extra Space's controversial ECRI strategy; it's widespread oversaturation and poor capital allocation

In this episode, we discuss:

• The Investor's Blind Spot: We analyze why most developers invest "on hope" using misleading metrics like square footage per capita, leading to millions in losses when markets are oversaturated.
  
  
• The Street Rate Dive: We break down the charts showing how Extra Space dropped street rates dramatically to maintain the highest occupancy, while Public and CubeSmart prioritized maintaining higher achieved rents .
  
  
• The Ultimate Risk: Noah shares his experience: ignoring REIT data is a "ten, eleven, twenty million dollar mistake". We challenge the industry to be more like the hotel space and share performance data publicly to eliminate bad deals.
  
  
• Tailwinds: We discuss the strong growth of micro-apartments, which drive self-storage demand by making storage a necessary amenity in small living spaces .
  
  

Tune in for the unfiltered truth about where the self-storage market is headed!

Connect with Thaddeus Campbell (S3 Partners):

https://www.linkedin.com/in/itsthadcampbell/

Connect with Chris Berg (Abernathey Development):

https://www.linkedin.com/in/chrisbergreal/

This episode was brought to you by:

Tractiq
https://tractiq.com/

Johnson Insurance
https://gojohnsoninsurance.com/self-storage-insurance/?utm_source=s3partners&utm_medium=social&utm_campaign=jisselfstorage

Find the Show on YouTube:
youtube.com/@theselfstoragereport