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URW sells The Village property in California

( - Unibail-Rodamco-Westfield (URW) today announces that it has completed the sale of The Village, an almost 56,000m2 property located in the San Fernando Valley in Los Angeles, to the Kroenke organisation.

The sales price of $325 million (at 100%, URW share 55%) reflects a return of 5.6% on the net operating profit and a discount of 10.6% from the latest valuation.

URW specifies that its flagship property in the region, Westfield Topanga, does not form part of the deal.

With the sale of The Village, URW has to date realised 1.1 billion dollars in total proceeds thanks to the anticipated reduction of its financial exposure in the United States.

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