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Vicinity Centres sells Melbourne shopping center for A$113M

Vicinity Centres sold the 19,700-square-meter Keilor Central subregional shopping center in Melbourne for A$113 million to Fort Street Real Estate Capital, The Australian Financial Review reported.

The property sits on 9.1 hectares of land on Taylors Road in Keilor Downs and is almost fully occupied.

The asset was acquired for the Fort Street Real Estate Capital Fund IV, which launched in June with A$76 million of assets and about A$150 million to invest, primarily in retail, commercial and industrial assets, the publication said.