Abacus Property Group Announces Growth and Occupancy Gains

Abacus Property Group (AU:ABG) has released an update.

Abacus Property Group reports a full-year Funds From Operations (FFO) of $82.5 million, a distribution of 8.50 cents per security, and a robust like-for-like office rent growth of 4.7%. The company’s successful leasing activities have increased office occupancy to 93.4%, with significant improvements in their Sydney locations. Abacus also raised its stake in the Myer Melbourne store to 50%, reinforcing its retail portfolio’s strong performance with a 6.3% rent growth.

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