Local assets in plans of Real Estate Capital Partners LISTED minnow the Real Estate Capital Partners USA Property Trust has flagged it will develop a new strategy, potentially including Australian assets, as the smaller end of the listed market heats up. The revamp of the property fund, which owns a small portfolio of US office buildings, comes just before the institutional bookbuild for Fife Capital's industrial property fund, to be managed by investment bank UBS today. Real Estate Capital Partners, which previously has been advised by Moelis & Co, tapped professional investors for about $584,000. The placement will help back the cost of due diligence as the fund reviews potential property acquisitions and also help in implementing its new investment strategy. The group wants to develop a strategy focused on "value add" or opportunistic investments. It is already "actively negotiating or in due diligence" on properties in the US and Australia, where it can add value. Real Estate Capital Partners will hold a unit holder meeting next month to consider the strategy. Another small property player -- Tony Pitt's 360 Capital Group -- took a step towards listing. Investors in Trafalgar Corporate Group yesterday agreed to acquire 360 Capital, allowing a backdoor listing of the company. Trafalgar raised $70.8 million via Moelis and the newly listed group plans to sell its remaining direct property holdings and launch new trusts, including a revamped office property fund it plans to list next year.