Sakkara debuts property fund

SYDNEY based property investment and development company Sakkara has completed the capital raising for its first fund.

The Sakkara Opportunity Fund No.1has $40 million to invest in property development projects throughout Australia.

The fund has identified two projects a 49 unit residential development in Gordon, Sydney and a 20,000 sqm business park in Alexandria, Sydney, with commitments totalling $15 million.

The business park is being carried out in joint venture with Trivest.

The unlisted wholesale unit trust is the first for Sakkara, which has been involved with more than 60 projects with revenues in excess of $4 billion since 1997.

Australian Property Journal