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Unibail-Rodamco looking to sell 4 shopping malls in Spain

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Unibail-Rodamco looking to sell 4 shopping malls in Spain

Unibail-Rodamco SE is reportedly placing four shopping centers in Spain on the market as part of its disposal program to acquire Australia-listed retail real estate investment trust Westfield Corp., Property Investor Europe reported, citing Spanish publication EjePrime.

The French commercial REIT is looking to sell the 44,000-square-meter Los Arcos mall in Seville, the 59,300-square-meter South Bay shopping center in Cádiz, the 36,000-square-meter Vallsur retail asset in Valladolid and the 66,300-square-meter El Faro shopping mall in Badajoz.

The sale is anticipated to generate €302 million to €363 million, the publication noted March 20, citing French language financial website Boursier.

Unibail was also mulling the sale of the 36,800-square-meter Equinoccio shopping center in Madrid, but eventually decided against it, PIE added.