Paris, Amsterdam, December 21, 2020
Unibail-Rodamco-Westfield to sell the Village 3, 4 and 6 office buildings in La Défense
Unibail-Rodamco-Westfield (“URW”) entered into separate agreements with several French institutional investors for the sale of the Village 3 office building on December 9, and the Village 4 & Village 6 office buildings on December 18. The total Net Disposal Price(1) of €213 Mn represents a premium to the latest unaffected book value.
The transactions are subject to standard conditions precedent and are expected to close in Q1 2021.
The offices are located in La Défense (Paris region) and have a combined GLA of 22,144 sqm with Orange and Orange Cyberdefense as the main tenants.
These transactions are part of URW’s €4 Bn disposal program. Upon closing of these transactions and the SHiFT disposal previously announced, the Group will have completed €0.8 Bn of this target.
(1) Net Disposal Price: Total Acquisition Cost incurred by the acquirer minus all transfer taxes and transaction costs
For further information, please contact:
+33 1 76 77 58 02
Céline van Steenbrugghe
+33 6 71 89 73 08
Unibail-Rodamco-Westfield is the premier global developer and operator of Flagship Destinations, with a portfolio valued at €58.3 Bn as at September 30, 2020, of which 86% in retail, 7% in offices, 5% in convention & exhibition venues and 2% in services. Currently, the Group owns and operates 89 shopping centres, including 55 Flagships in the most dynamic cities in Europe and the United States. Its centres welcome 1.2 billion visits per year. 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 3,400 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 an BBB+ rating from Standard & Poor’s and from a Baa1 rating from Moody’s.
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