Self-Storage in the Pandemic: People Need Their Space
DBRS Morningstar published a commentary reviewing the effects of the Coronavirus Disease (COVID-19) pandemic on the self-storage industry that concluded that self-storage continues to be an attractive property type for investors as it has been a resilient performer during recessions. In the last recession and many other periods of economic weakness, self-storage performance has held firm. For loans packaged in commercial mortgage-backed securities (CMBS) backed by self-storage properties that have reported YE2020 financials, we have seen an overall average positive growth of 1.9% in net operating income compared with YE2019. Further, most of the loans in CMBS backed by self-storage properties remained current. Because of this, we anticipate the continued stable performance of self-storage properties in the near term as they have proven their resilience in weak economic times, even during the pandemic.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.