This article is from the Australian Property Journal archive
SCA Property Group’s has successfully closed its inaugural SCA Unlisted Retail Fund No.1 (SURF 1).
Retail investors subscribed for approximately $24.7m in SURF 1 units. SCP has co-invested approximately $7.9m in SURF 1 units.
As a result, SCA has spun off five assets into SURF, generating $60.9m.
The properties are considered non-core assets by SCA and all located in New South Wales, being Woolworths Fairfield, Woolworths Griffith North, Dan Murphy’s Burwood, Dan Murphy’s Katoomba, and Inverell Big W.
SURF 1 will have a gearing of 49.5% and the initial term will be five years.
Australian Property Journal
