I ended up just using the SMA.war from the 7.2.1 PE edition, works fine. No idea why Pega removed SMA from the PE edition other then that they are moving functionality over from the SMA to the regular developer portal. Since not all functionality is available in the regular developer portal SMA is still needed in my view.
For SMA, If you have Pega 7.2.1 installed on your laptop, you can get prsysmgmt.war file from that installation folder and go to http://localhost:8080 and deploy that via tomcat. It worked for me. PM me if you don't know how to deploy a war file on tomcat.