Storage King Departure Dims Abacus Group's Growth Outlook

Abacus Group owns and manages a property portfolio of mostly offices and two retail assets. The group also has exposure to the self-storage sector through Storage King, a REIT that was destapled from Abacus Group in 2023. Since the destapling and up until June 2026, Abacus was the manager of the self-storage REIT. Following an internalization agreement, Storage King moved management in-house from fiscal 2027. While Abacus still holds a 20% interest in Storage King, we expect it to sell down the stake over time, depending on the self-storage REIT's security price.