Abacus Property Group is a leading diversified property group. We specialise in investing in core plus property opportunities in Australia. Abacus was established in 1996.
Apr2018
Death of Managing Director Dr Frank Wolf
April 2018
It was with deep sadness that Abacus Property Group announced the passing of its co-founder and Managing Director Dr Frank Wolf, after a short battle with cancer. Mr Steven Sewell, who was due to take over in July 2018 is confirmed as Managing Director.
Jan2018
Transition of Managing Director
January 2018
Abacus Property Group announced the retirement of its long serving Managing Director Dr Frank Wolf to occur in July 2018. Mr Steven Sewell, who joined the group in October 2017 will be appointed to the role of Managing Director at that time. Dr Wolf retires after more than 21 years at the Group and 11 of those years as Managing Director.
Aug2017
Record underlying profit result
August 2017
Abacus Property Group was pleased to announce a record underlying profit result for the 2017 financial year of $186.8m, an increase of over 50% from the prior year. This was driven by all aspects of the buisness contributing to the group's returns, in particular the commercial, self-storage and residential development businesses. This drove a 46% increase in EPS to 32.7c and was backed up strongly by a 13.5% increase in the Group's net tangible assets of $3.02.
Feb2017
Balance sheet grows from strength to strength
February 2017
Abacus Property Group has grown to a market capitalisation of over $1.7 billion. The group has total assets of circa $2.4 billion and a successful and growing third party capital platform that has invested in over $1.4 billion of property assets in joint venture with our capital partners.
Mar2015
Rights issue to existing investors
March 2015
Abacus Property Group raised $107 million from existing securityholders to provide growth capital for anticipated acquisitions, development projects and third party capital initiatives.
Aug2014
Growing our capital base
August 2014
Abacus Property Group acquired 70% of the World Trade Centre in Melbourne for $120 million in its first joint venture with leading global investment firm KKR. Abacus and KKR subsequently acquired Oasis Shopping Centre, Broadbeach QLD for $104 million in February 2015.
Feb2012
Merger with Storage Fund
February 2012
Abacus Property Group integrated its largest unlisted managed fund, Abacus Storage Fund, into the stapled Group. The merger added $330 million of quality storage facilities to the Group’s portfolio while also providing a liquidity event for the storage fund’s unlisted investors.
Jul2010
Initiates third party capital strategy
July 2010
During the 2011 financial year, Abacus Property Group initiated its third part capital platform through the creation of a number of core plus joint venture relationships with global investment managers including the Kirsh Group and Heitman LLC.
Apr2009
Kirsh Group - Cornerstone investor
April 2009
Abacus Property Group raised a total of $211 million to recapitalise the Group in the anticipation of future acquisition opportunities as a result of the global financial crisis. Abacus welcomed the Kirsh Group as a substantial cornerstone investor in the Group.
Feb2008
Included in S&P/ASX 200 Index
February 2008
Abacus Property Group included in the S&P/ASX 200 Index.
Mar2007
Included in S&P/ASX 300 Index
March 2007
Abacus Property Group included in the S&P/ASX 300 Index.
Mar2006
Merger with ADIF
March 2006
Abacus Property Group merged with Abacus Diversified Income Fund, increasing Group assets to $835 million.
Nov2002
Listed on ASX
November 2002
Abacus Property Group listed on the Australian Securities Exchange with total Group assets of $420 million and a market capitalisation of approximately $300 million.
Oct2002
A full integrated property investment group
October 2002
Abacus Property Group acquired the business of Abacus Funds Management Limited to form an integrated property investment group with an internalised management structure. The Group's business activities comprised property investment, property finance, funds management and joint venture projects
Aug2001
Abacus Property Group created
August 2001
Abacus merged a number of trusts and a small development company it established between 1996-1999 to form the Abacus Property Group, a stapled structure consisting of a trust and a company. Initial gross assets of $280 million included eight investment properties and a portfolio of high yielding mortgages.
Apr1996
The beginning
April 1996
Abacus Funds Management Limited formed as a property syndicator to source and package property-based investment opportunities for high net worth investors.