Exhibits a high specificity towards peptides possessing arginine or aromatic amino acids at the N-terminus. Could be involved both in bacterial growth by supplying amino acids. Binds 2 divalent metal cations per subunit (By similarity). Can use cobalt, zinc, and possibly also magnesium ions (PubMed:10406960). Optimum pH is 7.5-8.5. Optimum temperature is 55 degrees Celsius. Monomer. Belongs to the peptidase M29 family.