Abacus Property Group (ASX:ABP)
has successfully completed its first underwritten institutional placement raising $250 million.
This was through the issue of approximately 63.3 million new ordinary stapled securities at an issue price of $3.95 per stapled security.
The group will use the funds raised to pursue more than $710 million of new investment opportunities focusing on office and self-storage assets, both in line with the group's strategic priorities.
Shares in Abacus Property Group (ASX:ABP)
trading 3.3 per cent lower at $4.13.