URW sells HQ in Paris for €249m

Unibail-Rodamco-Westfield (URW) has sold its headquarters, 7 Adenauer, in Paris’ 16th district for €249 million ($295 million), according to its first half 2021 earnings.

Several minor disposals were also made (the Le Blériot office building in Paris, the Q-Huset office building in Täby, and a land plot in Osnabrück) for a total NDP of €63 million ($75 million).

When all announced disposals have completed, URW will have achieved €1.7 billion ($2 billion) out of the €4 billion ($4.7 billion) European disposal program, which is intended to complete by the end of 2022.

In addition to the European disposals, during the first half of 2021 URW voluntarily foreclosed on four U.S. regional retail centers (Westfield Citrus Park, Westfield Countryside, Westfield Sarasota and Westfield Broward).