A 360 Capital-run fund has swooped on a parcel of unsold apartments in a recently completed Sydney residential development for $16.5 million, at discount of almost one-third to their listing price.

The acquisition, by the ASX-listed 360 Capital Total Return Fund, is the latest instance of financiers and investors with strong balance sheets seizing on apartments unsold in the softer market, to hold and sell into as the market recovers.