Westfield divests 5 shopping centers for $1.1B
December 23, 2015

Westfield Corp. has sold a majority stake in five US shopping centers for $1.1 billion, retaining a 20% ownership in the properties. The buyer is a joint venture among Centennial Real Estate Co., USAA Real Estate and Montgomery Street Partners. Westfield sold the properties to reduce debt and fund a property-development program.

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