UNBLF - Unibail-Rodamco-Westfield sells The Village in San Fernando Valley
- Unibail-Rodamco-Westfield ( OTCPK:UNBLF ) has completed the sale of The Village, an outdoor lifestyle destination in the San Fernando Valley of Los Angeles, to the Kroenke Organization for $325M.
- The sale price reflects an initial yield of 5.6% on the in-place Net Operating Income, and a 10.6% discount to the last unaffected appraisal.
- URW’s flagship property in the area, Westfield Topanga, was not a part of the transaction.
- With the sale of The Village, URW has made $1.1B in total proceeds to date from the planned reduction of its financial exposure to the US and the ownership transfer of five other regional properties.
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Unibail-Rodamco-Westfield sells The Village in San Fernando Valley