Unibail-Rodamco has completed the acquisition of Westfield, creating Unibail-Rodamco-Westfield.
This merged entity now owns and operates a portfolio valued at some $73 billion, of which 88 percent is retail, 7 percent is offices, and the rest comprises convention and exhibition venues.
Unibail-Rodamco-Westfield is owner-operator of 102 shopping centers across 13 countries. These properties receive in the aggregate about 1.2 billion visits per year. The firm also has roughly $15.3 billion worth of development in the pipeline and is set to leverage the world-famous Westfield brand by gradually rebranding Unibail-Rodamco flagship assets, said Christophe Cuvillier, group CEO, in a press release.
Unibail-Rodamco-Westfield is listed on the Euronext Amsterdam and Paris exchanges. A secondary listing has been established in Australia through CHESS Depositary Interests, or CDIs.
By Brannon Boswell