Abacus Property Group acquires self storage properties

ASX-listed Abacus Property Group has agreed to acquire five self storage properties for A$57 million.

Abacus has purchased purpose-built Storage King facilities located in metropolitan Perth, Australia and Auckland, New Zealand and one metropolitan Sydney development site to accommodate a future multi-level facility.

”These transactions align with our strategic priorities and support Abacus’ transition to a strong asset backed, annuity style business model,” said in a statement.

One month ago, Abacus Property Group had formed a partnership with Charter Hall Group  to acquire 201 Elizabeth Street, Sydney CBD office tower for A$630 million from a 50/50 joint venture between Dexus and Perron Group.