• Unibail-Rodamco-Westfield to sell Gera Arcaden in Germany for €116 Mn

    Source: Nasdaq GlobeNewswire / 04 Apr 2022 01:30:00   America/New_York


    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 Relations
    Maarten Otte
    +33 7 63 86 88 78
    Maarten.Otte@urw.com

    Media Relations 
    Cornelia Schnepf – Finelk
    +44 7387 108 998
    Cornelia.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


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