UNBLF - Unibail-Rodamco-Westfield sells Westfield Santa Anita in California for $537.5M

• Unibail-Rodamco-Westfield ( OTCPK:UNBLF ) announces the sale of Westfield Santa Anita in Arcadia, California, to an established commercial real estate investor who owns other retail assets in Southern California for $537.5M.
• The sale is funded by the investor through a combination of equity and new debt, reflects a sub-6% net initial yield and a 10.7% discount to the latest unaffected appraisal.
• Westfield Santa Anita, an asset in URW’s US regional portfolio, is an A rated, 1.48 million square foot property, which is 96% leased and posts sales of $611 per square foot.
• The transaction is the largest for a mall in the US since 2018, according to Eastdil Secured, who advised Unibail-Rodamco-Westfield.
• The sale of Santa Anita marks ongoing progress in the streamlining of URW’s regional asset portfolio, part of the Group’s comprehensive deleveraging program that includes the radical reduction of its financial exposure to the US.

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