Australian retail fund holds final close
Australia-based SCA Property Group has held a final close of SCA Unlisted Retail Fund I with A$32.6 million ($23.8 million), according to Greg Inkson, fund manager with SCA.
The core fund focuses on freestanding shopping centers in Australia. SCA Unlisted Retail Fund I has acquired five properties in New South Wales, two of which are in Sydney.
SCA Property Group is an Australian REIT with a shopping center portfolio of 82 properties throughout Australia and New Zealand, valued at A$1.96 billion ($1.43 billion), as of June 2015.