Unibail-Rodamco-Westfield sells two malls for $196m

Unibail-Rodamco-Westfield as completed the sale of Westfield Trumbull located in Trumbull, Conn., and Westfield South Shore located in Bay Shore, N.Y., to a commercial real estate investment firm.

The combined gross sale price of these wholly owned regional assets at $196 million.

Both assets are B+-rated properties, with Trumbull being 125,000 square meters (tk square feet) and 85 percent leased, and South Shore being 94,400 square meters (tk square feet)  and 89 percent leased.

With this transaction, URW has made $1.3 billion in total proceeds to date from the planned radical reduction of its financial exposure to the United States, including the previously announced sales of The Village, Westfield Santa Anita, the Promenade development parcel, and the Palisade residential building, as well as the ownership transfer of five other regional properties.