Real estate investors will get a fresh chance to invest into the booming self-storage market, through a plan by property fund manager Abacus Property Group to spin out its Storage King facilities into a $3 billion listed property trust.
The de-stapling move, as it is known, could also help release inherent value in the $2.5 billion Abacus’ own stock, which with other listed property trusts has been trading at a heavy discount to its asset values, as it battles the impact of surging interest rates.