“We always say that the best days of our company are ahead of us and every year we prove it to be true. With our reliable portfolio, robust platform, and resilient team of people, we are building value for our shareholders, no matter the economic cycles.”
We are a self-storage pure-play, and our portfolio includes over 1,900 locations and counting. Storage is a need-based product and years of customer data shows us that people from every walk of life and in every demographic have use for self-storage.
Our platform is the result of constant innovation. We are continually challenging ourselves to drive more traffic, at a lower cost, with better rental conversion while providing an ever-improving customer experience.
Our people rose to the challenges of 2020, and with adaptability and resilience they continued to help our customers to a better tomorrow. We have always said our people and culture are a key differentiator for Extra Space, and this proved true again this past year.
Despite the headwinds of 2020, Extra Space delivered another year of strong Core-FFO growth. We continue to strengthen our balance sheet and reduce our cost of capital. As a result of these efforts, our stock continues to be one of the highest returning in the REIT sector.
We continue to find innovative ways to invest capital in the self-storage sector at appropriate risk adjusted returns. In addition to our traditional acquisitions and third-party management platforms, we continue to grow our structured finance business, with over $600 million invested in 2020.
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Our sustainability initiatives are focused on a long-term perspective for our company, our customers, our employees, and our world. We are proud of the innovations we are putting in place today to make our company, and the world, better tomorrow.