Real estate investment giant ISPT is joining the wave of institutional and private investors pouring money into smaller supermarket-anchored malls after unveiling plans for a $250 million equity raising in the second half of the year.

The raising will be used to fund acquisitions for its $2.5 billion ISPT Retail Australia Property Trust (IRAPT), which owns a portfolio of 49 sub-regional and neighbourhood centres, as well as to provide capital for the expansion and upgrade of existing centres within the trust.