Qualitas is aiming to raise A$500 million from the IPO of what could be Australia's first listed pure property debt investment trust, The Australian Financial Review reported.

The private real estate lender will kick-start the listing of its Qualitas Real Estate Income Fund on the Australian stock exchange after a four-week general offer period that will commence Oct. 16. Within the cornerstone period, Qualitas already secured commitments for over A$150 million to reach the required minimum offer size for the trust, according to the publication.

Once listed, Qualitas Real Estate is expected to be the first publicly listed fund that will allow non-institutional investors to gain from commercial loans provided to residential developers such as senior and mezzanine loans, the Oct. 16 report added.