two shopping centers sold in the United States

(CercleFinance.com) – Unibail-Rodamco-Westfield (URW) announces that it has finalized, on December 30, the sale of two Westfield shopping centers located in Trumbull (Connecticut) and Bay Shore (New York State) to a commercial real estate investment.

The combined gross sale price of these two wholly owned assets of $196 million equals their gross market value and reflects an initial yield of 9.5% on NOI (net operating income) in place.

With this transaction, the commercial real estate group says it has realized total proceeds to date of $1.3 billion from the planned drastic reduction in its financial exposure to the United States.

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