Dexus Industria REIT (ASX:DXI) acquired a 50% interest in a small-unit industrial estate located at 12 Church Road, Moorebank, New South Wales, for AU$49.6 million, according to a Tuesday filing with the Australian bourse.
The acquisition consolidates the company's ownership of the asset to a 100% freehold interest, the filing said.
The industrial estate is 63% occupied with a weighted average lease expiry of 2.8 years, per the filing.
Shares rose 2% in morning trade Tuesday.
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