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ABACUS GROUP Capital/Financing Update 2015

Jun 11, 2015

64280_rns_2015-06-11_55059b2e-40c0-4104-9b87-6dd18015cf08.pdf

Capital/Financing Update

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ASX ANNOUNCEMENT

Abacus and Goldman Sachs to acquire 201 Pacific Highway, St Leonards

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Abacus Property Group (ASX: ABP) and The Goldman Sachs Group, Inc. (Goldman Sachs) have exchanged contracts to acquire 201 Pacific Highway, St Leonards NSW.

The total consideration for the acquisition is $115 million, excluding transaction costs. The property is part of the Forum complex, a master planned development completed in the early 2000s. Forum is located at the foot of the St Leonards railway station providing excellent amenity and proximity for tenants. Forum consists of a number of stratums including 201 Pacific Highway, an adjoining office building (203 Pacific Highway which is owned by the vendor) and a number of residential towers.

The property comprises an A grade building which includes 13,841m[2] of office, 2,688m[2] of retail and 262 car spaces. The retail comprises 20 tenancies in the Forum plaza adjoining the railway station. The property is approximately 97% occupied.

Under the terms of the venture, Abacus and Goldman Sachs will each provide 50% of the equity.

Abacus Property Group CEO, Dr Frank Wolf, said “Abacus continues to demonstrate the strength and success of our third party capital model with the announcement of a new venture with Goldman Sachs. We are pleased to align Abacus with Goldman Sachs, a strong institutional partner with complimentary investment skills. The property provides an opportunity to achieve strong risk adjusted returns”.