Unibail advances in its withdrawal strategy from the United States
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The property has sold its share in a Californian shopping center, valued at 537 million dollars.
Unibail-Rodamco-Westfield (URW) is gradually withdrawing from the United States, five years after setting out to conquer them. The property company announced on Thursday the sale of its 49% stake in a Southern California shopping center, Westfield Santa Anita, to an investor who owns other “malls” in the region. The transaction values this center at $537 million and brings to $900 million all of the disposals carried out by Unibail in the United States since 2021. On this date, the property company made a strategic shift, following the putsh orchestrated by Xavier Niel (now a major shareholder in the group) and Léon Bressler, former chairman of the management board ofUnibail and now Chairman of its Supervisory Board.
The takeover of the American Westfield in 2017 contributed to the group’s colossal debt (21.6 billion euros to date). This debt became problematic when the Covid crisis drastically reduced the rental income of the property company…
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