The unlisted retail property fund has an initial seven-year term and is targeting an annualised initial distribution of eight cents per unit.
The fund has an initial portfolio of six shopping centres located in New South Wales, Victoria, Queensland and New Zealand.
The fund will look to acquire further suitable investments to expand the diversified portfolio of quality sub-regional, neighbourhood and household retail shopping centres.
"Throughout the year we have seen strong interest from retail investors in direct property opportunities, particularly from SMSFs (self-managed superannuation funds)," Charter Hall Direct Property chief executive Richard Stacker said.
"With the improved outlook for the retail, office and industrial property markets, together with the particular tax advantages of direct investment, we expect this trend to continue."
