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Home About Abacus Our History

Our History

Since 1996, Abacus Group has built a reputation for creating value through active investment and portfolio management. Over nearly three decades, the Group has successfully navigated changing market cycles, evolved its portfolio and diversified its strategic focus to become a leading owner and manager of commercial real estate. Today, Abacus is a strong asset‑backed, annuity‑style business, directing capital towards real estate investments that deliver sustainable income growth and long‑term value creation. Download: Abacus Group Business History Timeline
Abacus Group Corporate History Timeline (1996-2026) This timeline highlights key milestones in the evolution of Abacus Group from its establishment in 1996 to the internalisation of Abacus Storage King in 2026. 1996 April: First established as Abacus Funds Management (AFM) as a property syndicator to source and package property-based investment opportunities for high net-worth investors. 2001 August: Abacus Property Group formed. AFM merged several trust and a small development company to establish the newly formed Abacus Property Group (APG), with initial gross assets of approximately $280 million. 2002 November: Listed on the Australian Securities Exchange (ASX) as APG Limited, with total group assets of approximately $420 million. 2006 March: Merged with ADIF, increasing total group assets to approximately $835 million. 2007 March: Included in the S&P/ASX 300 Index. 2008 February: Included in the S&P/ASX 200 Index. 2012 March: Completed first merger with Storage Fund, adding approximately $330 million of storage facilities to the Group's portfolio. 2017 February: Entered a period of significant growth through acquisition of 24 assets and a third-party capital platform invested in more than $1.4 billion of joint venture assets. 2018 January: Transition of Managing Director. APG announced Managing Director Frank Wolf would retire and appointed Steven Sewell as Managing Director effective October 2017. April: In memory of Frank Wolf. APG announced the passing of founder and Managing Director Dr Frank Wolf AO. Dr Wolf served the Group for 11 years as Managing Director. July: First retail joint venture. APG entered into a joint venture for two retail assets, Ashfield Mall in Sydney and Lutwyche City Shopping Centre in Brisbane. September: Strong return for securityholders. APG advised the Novotel Twin Waters Resort, Sunshine Coast, sold for $88.5 million, with sale proceeds returned to securityholders. 2019 April: Reduced focus on residential development. APG divested selected residential development projects and investment properties to an offshore property group for approximately $31 million. June: Acquired a 19.9% strategic interest in AOF. APG joined Charter Hall as a strategic investor in Australian Unity Office Fund for approximately $95.6 million. August: Acquired 321 Interest in Commercial Asset. APG acquired 20 Elizabeth Street, Sydney. September: Self-storage growth. APG acquired five self-storage properties for approximately $75 million, including assets in Perth, Auckland and Sydney. 2020 November: Acquired Storage King operating platform balance. APG acquired the remaining 75% interest in the Storage King operating platform, increasing ownership to 81 locations valued at more than $1 billion. 2021 February: Development joint venture. APG entered into a joint venture with Viadux for a commercial office development in Melbourne. March: Charter Hall APG office acquisition. Charter Hall Office acquired a leasehold asset at 241 Adelaide Street, Brisbane for approximately $31.5 million. April: Storage and retail acquisitions. APG acquired four additional self-storage facilities and invested in The Oasis Centre, Broadbeach for approximately $103.5 million. July: Acquired interest in Myer Melbourne. APG acquired a one-third interest in Myer Melbourne for approximately $135.3 million. July: Acquired Sydney self-storage portfolio. APG acquired a portfolio of self-storage locations from Storage King across Chatswood, Artarmon, St Leonards, Dee Why and Pyrmont for approximately $160 million. September: FTSE EPRA Nareit Index inclusion. APG joined the FTSE EPRA Nareit Global Real Estate Index Series. October: Growth through COVID-19. Despite the challenges of the pandemic, APG maintained solid activity levels and operating performance across its self-storage and commercial property portfolios. December: Sydney CBD office acquisition. Abacus Property Group acquired a 100% leasehold interest in 75 Castlereagh Street, Sydney. 2022 January: Exited legacy residential loan positions, completing the wind-down of remaining longer-term residential lending exposures. February: Self-storage sector strength. During FY22 the Group acquired 28 stores and completed significant capital investment, reinforcing the platform as an asset-backed annuity-style business. March: Successful institutional placement. Raised approximately $200 million to replenish investment capacity and support continued expansion of the self-storage portfolio. August: FY22 delivered record self-storage growth. Invested more than $1.2 billion into key self-storage commercial and self-storage assets, despite ongoing market impacts from COVID-19. November: Brand refresh. Introduced a refreshed corporate identity and brand to better position the Group for future growth. 2023 July: ASK Rights Issue of approximately $225 million completed, supported by a combination of existing and new eligible institutional investors. August: Listing of Abacus Storage King. Abacus Property Group successfully de-stapled its former Abacus Group and Abacus Storage King entities, creating two separately listed REITs on the Australian Securities Exchange. 2026 July: ASK Internalisation. The internalisation of Abacus Storage King (ASX: ASK) took effect and became known as Storage King Group (ASX: SKG).
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