News

Westfiled Sold Five Mall US malls to Investment Group

 

 

 

 

 

December 21st,  2015

 

 

 

 

Australian Stock Exchange- listed Westfield sells five malls in US for USD1.1 billion to continue focus on core assets development. The ASX-listed commercial property developer sold five malls including Connecticut Post based in Connecticut, Fox Valley located in Illinois.

 

Westfield sold the five malls  to the investor group joint venture comprising Centennial Real Estate Company as managing member, together with Montgomery Street Partners, and USAA Real Estate. Combined with the recent divestment of Carlsbad, Westfield will realise approximately USD 1bn in net proceeds from the transactions. Westfield Corporation will retain a 20 percent non-managing common equity interest.

 

Westfield said the asset divestment is in line with its strategy to focus creating and operating core assets in while diversify away from non-core assets. Westfield's current project includes the World Trade Center New York, Westfield Milan Italy.  

 

 

 

  • Wix Twitter page
  • Wix Google+ page
  • LinkedIn Social Icon
  • Wix Facebook page

Westfield's Shopping Center Project in Milan Italy

Copyright © APMR - Asia Property Market Review. All Rights Reserved.

  • Grey Facebook Icon
  • Grey Twitter Icon
  • Grey LinkedIn Icon
  • Grey Google+ Icon