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home / news releases / UNBLF - Unibail-Rodamco-Westfield to divest Gera Arcaden in Germany for Euro116M

UNBLF - Unibail-Rodamco-Westfield to divest Gera Arcaden in Germany for Euro116M

Unibail-Rodamco Se
Unibail-Rodamco-Westfield (OTCPK:UNBLF) inks an agreement with an institutional investor for the sale of Gera Arcaden, in Germany, for an agreed cost of €116M (at 100%, URW share 51%), which represents a premium to the last appraised value. The deal is expected to complete in Q2-2022, subject to standard closing conditions. Gera Arcaden is an 38,300 sqm shopping centre, including offices, located in the city centre of Gera. The company also entered into a management contract and will continue the asset and property management of the centre through its German third-party asset management business.

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Unibail-Rodamco-Westfield to divest Gera Arcaden in Germany for €116M
Stock Information
Company Name: Unibail-Rodamco Se
Stock Symbol: UNBLF
Market: OTC
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