The property funds crisis in the UK does not have an immediate parallel in Australia.
After the crises of the 1990s and 2000s, most property funds no longer offer open redemptions. Surprisingly, the UK property industry does not seem to have learnt that a long-term asset like property cannot be backed by short-term funding, of either equity or debt. 
The AMP Capital's head of investment strategy, Shane Oliver said the problem with British property funds reflected a specific problem in the UK post-Brexit.
"It's not indicative of a problem with global commercial property markets generally," he wrote on Friday. Dr Oliver is a supporter of commercial property in an environment of low interest rates.
Property veteran Greg Paramor, now the managing director of Folkestone, said most unlisted funds in Australia had specific terms, and the ability to extend those terms if required, and were not exposed to a rush of redemptions.
In Australia that lesson was learnt in the 1990s. However, commercial property prices, in Australia and generally around the world, are high, and potentially vulnerable to a shock.
The Reserve Bank has often warned about the mismatch between property values and underlying occupier demand.
Mr Paramor has also noted a rise in defaults in US Commercial Mortgage Backed Securities. "I am watchful, but not fearful at the moment," he said. "We are in dangerous territory; you have Brexit and disgruntled electorates."
However, Mr Paramor did warn about a potential problem with the crowd funding of commercial investments and developments. "People don't understand their investments."
There is also a potential problem between short-term funding and long-term property investment within Super Choice. If investors chose to exit the property option en masse, some forced selling might be necessary.
However, the exposure of those funds to property is very small, around 3 per cent.