Abacus Property

Abacus Property Group will exit its remaining residential development and mortgage legacy loan positions by converting two loans to equity and in the refinance of a third.

Abacus Property Group has exchanged contracts to acquire a 100% leasehold interest (296 years remaining) in 77 Castlereagh Street, Sydney NSW, with settlement anticipated in January 2022.

Abacus Property Group has been active of the 1st quarter of FY22 to grow its portfolio of Self Storage locations and to manage operating conditions in its Commercial portfolio due to the Covid-19 related impacts across Australia and New Zealand.

Abacus Property Group has recorded a 4.5% gain in value across its portfolio, adding $140m of value.

Abacus has agreed term to acquire another 5 Storage King assets in Sydney for $160m.

Abacus Property Group and the Charter Hall Long WALE REIT have each exchanged contracts to acquire a 1/3rds interest in the “Myer Melbourne” property

Abacus Property Group announces it has exchanged contracts the purchase of the remaining 60% interest in The Oasis Centre, Broadbeach QLD from an affiliate of KKR and separately completed the acquisition of four additional Self Storage facilities.

Abacus released its results today revealing a decline in Earnings per Share of -14% mostly due to additional securities hitting the register during the period as well as from lower actual earnings rom non core assets.

Abacus Property Group (Abacus) [ASX: ABP] announces it has exchanged contracts to enter a development joint venture on 710 Collins Street, Melbourne with Walker Corporation

Abacus has embarked on a $402m capital raising to bolster its balance sheet to fund its ambitious pipeline.

As part of its commitment to sustainability, Abacus have released their 2020 Sustainability Report which provides their stakeholders an update on their approach and achievements to sustainability.

Abacus has finalised plans to acquire the remaining 75% interest in the Self Storage operating platform, Storage King for $50m and acquired a further 4 Self Storage properties for $45.1m.

Abacus have shifted increased their exposure to Office and Self Storage to 87% of the assets but FFO per security is now down -13% due to COVID impacts.

Abacus has lifted its stake in National Storage as it grows it's ambitions in the Self Storage sector

Buoyed by the investment of over $600m in additional capital into the Office and Self Storage sectors, Abacus look past current low earnings and profit slump.