Unibail-Rodamco-Westfield sells €248m stake in Helsinki mall

Unibail-Rodamco-Westfield has completed the disposal of its 34 percent stake in the Jumbo shopping center in Helsinki, Finland, to current co-owner Elo Mutual Pension Insurance Co. The sales price was €248.6 million ($282 million).

Jumbo is one of the leading shopping centers in the Helsinki region with more than 85,000 square meters (915,000 square feet) and more than 12 million visitors per year. Following this transaction, URW's Nordics portfolio consists of five shopping centers, of which three are flagship centers.

Following this transaction, 75 percent of the €3 billion ($3.41 billion) of disposals announced in December 2017 have now been completed. Unibail-Rodamco-Westfield announced on Feb. 13 that it had increased its disposal target to a total of €6 billion ($6.8 billion). Approximately €3.7 billion ($4.2 billion) of assets remain to be sold after this transaction.