Carindale Property Trust and Australian Prime Property Fund Retail, a fund managed by Lend Lease Real Estate Investments Limited, acquired Millennium Boulevard Office and Retail Centre for AUD 28 million.

Carindale Property Trust (the Trust) is an Australia-based property trust engaged in the ownership of a shopping center in Brisbane, Australia. The principal activity of the Trust is the long-term ownership of a 50% interest in Westfield Carindale shopping center, which is located in the suburb of Carindale, east of Brisbane. The Trust’s investment properties include shopping center investments, development projects and construction in progress. The Trust’s shopping center investment comprises freehold and leasehold land, buildings, and leasehold improvements. The Westfield Carindale shopping center includes an event cinema complex and a range of other retailers, including approximately 371 specialty stores. The Trust is managed by Scentre Management Limited, which is a member of the Scentre Group.