Unibail-Rodamco-Westfield to sell Gera Arcaden in Germany for €116 Mn
April 04 2022 - 1:30AM
Paris, Amsterdam, April 4, 2022
Press release
Unibail-Rodamco-Westfield to sell Gera Arcaden in Germany for
€116 Mn
Unibail-Rodamco-Westfield (URW) today announces
an agreement with an institutional investor for the sale of Gera
Arcaden, in Germany, for an agreed Total Acquisition Cost of €116
Mn (at 100%, URW share 51%), which represents a premium to the last
appraised value.
The transaction 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.
URW 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.
For further information, please contact : Investor
RelationsMaarten Otte+33 7 63 86 88 78Maarten.Otte@urw.com
Media Relations Cornelia Schnepf – Finelk+44 7387
108 998Cornelia.Schnepf@finelk.eu
About Unibail-Rodamco-Westfield
Unibail-Rodamco-Westfield is the premier global
developer and operator of Flagship Destinations, with a portfolio
valued at €54.5 Bn as at December 31, 2021, of which 86% in retail,
6% in offices, 5% in convention & exhibition venues and 2% in
services. Currently, the Group owns and operates 85 shopping
centres, including 53 Flagships in the most dynamic cities in
Europe and the United States. Present on two continents and in 12
countries, Unibail-Rodamco-Westfield provides a unique platform for
retailers and brand events and offers an exceptional and constantly
renewed experience for customers.
With the support of its 2,800 professionals and
an unparalleled track-record and know-how,
Unibail-Rodamco-Westfield is ideally positioned to generate
superior value and develop world-class projects.
Unibail-Rodamco-Westfield distinguishes itself by its Better Places
2030 agenda, that sets its ambition to create better places that
respect the highest environmental standards and contribute to
better cities. Unibail-Rodamco-Westfield stapled shares are listed
on Euronext Amsterdam and Euronext Paris (Euronext ticker: URW),
with a secondary listing in Australia through Chess Depositary
Interests. The Group benefits from a BBB+ rating from Standard
& Poor’s and from a Baa2 rating from Moody’s.
For more information, please visit www.urw.com
Visit our Media Library at https://mediacentre.urw.com Follow the
Group updates on Twitter @urw_group, Linkedin
@Unibail-Rodamco-Westfield and Instagram
- Unibail-Rodamco-Westfield to sell Gera Arcaden in Germany for
€116 Mn
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