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Sign in Sign up for a FREE subscriptionURW sells French retail portfolio
Unibail-Rodamco–Westfield (URW) has successfully completed the disposal of a portfolio of five shopping centers in France to a joint venture formed by URW, Crédit Agricole Assurances and La Francaise.
Christophe Cuvillier, CEO of URW, commented, “The closing of this transaction is a major milestone in the group’s disposal strategy. In a very challenging environment, it demonstrates the quality of our assets and illustrates the trust of our partners in the management of URW to cope with the current situation and to generate future growth in the assets we operate. Today marks the beginning of a new strategic partnership formed with Crédit Agricole Assurances and La Française, and we look forward to working and succeeding with them.”
The consortium of investors comprised of Crédit Agricole Assurances and La Française will hold 54.2 percent of the newly formed joint venture and URW will own 45.8 percent. The new joint venture now owns the following assets: A
