As recently as this past May, Unibail-Rodamco-Westfield (URW) maintained its deleveraging progress with U.S. asset sales with the sale of Westfield Brandon Shopping Center (located in Brandon, Florida) in the US for $220 million. It was reported in 2021 that Unibail-Rodamco-Westfield (URW) planned to sell all of it’s US holdings in 2022. Last year, then-Chief Executive Jean-Marie Tritant told investors that Unibail wants to shed most of its U.S. properties by the end of 2023, which pushed things back about a year, but things appear to have changed according to a report by the Wall Street Journal.
“Unibail is also investing in its top properties.” the report stated. “Unibail is also moving forward with development projects at properties in Illinois, northern New Jersey and Bethesda, Md., including adding apartments and open-air retail and restaurants.” According to development information posted by Westfield, this will include “reimagining the Westfield Montgomery experience by creating a mid-rise multi-family and amenity-rich community with architecture that reflects the seasonal, wooded quality of the community, combined with a modern, urbane feel. And all within easy walking distance from everything you enjoy.” This will include:
