Abacus invests again in self storage
Abacus has spent $370 million on 22 self storage investments.
Half are leased to Storage King, while five are independently managed.
The balance are unbuilt.
Twelve assets, reflecting 70pc of the outlay, are in metropolitan Sydney, according to the group upon announcing its first quarter results.
The deals come three months since Abacus outlaid $160m for five self storage assets – again managed by Storage King (story continues below).
In May the investor outlaid $44.2m for four investments of this type – at Kirrawee and Revesby, in the New South Wales capital, and Adelaide’s Windsor Gardens and Woodville North.
On Tuesday we reported Abacus, with the Public Trustee of Queensland, offloaded a Brisbane CBD office to PGIM Real Estate for $54.4m.
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