Abacus spends to grow with $160m Storage King portfolio buy

Abacus Property Group has announced its third major asset acquisition in just over two months, paying $160 million for a portfolio of five Storage King sites in Sydney’s northern suburbs.

The deal follows its purchase of a one-third stake in Myer Bourke Street Mall in central Melbourne for $135.2 million last week and the $44 million acquisition of another four self-storage sites in May.