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Centuria Metropolitan REIT closes A$58M Melbourne property buy

Centuria Metropolitan REIT's responsible entity, Centuria Property Funds Ltd., completed its A$58.2 million acquisition of a 12,919-square-meter property at 2 Kendall St. in Melbourne.

The metropolitan office real estate investment trust said the property serves as the headquarters of Target Australia Pty. Ltd. and is leased to the department store chain on a 10-year term with fixed rent reviews.