Yes. SMSFs are allowed to borrow under an LRBA to purchase a single asset such as property. The arrangement limits the lender’s recourse to only the property being purchased, protecting other SMSF assets. Borrowing rules are strict — you must use a bare trust, the loan must be on commercial terms, and you can’t use the property personally. Professional structuring is vital to avoid breaching super laws.
Please see the ATO guidance around LRBA. Limited recourse borrowing arrangements | Australian Taxation Office