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Unibail Rodamco is buying Westfield to create a global shopping mall giant
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It's the largest amount paid for a single mall asset in the U.S. since 2018, according to Eastdil Secured.
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URW plans a $100M facelift to transform Skokie's Westfield Old Orchard into a village within the city.
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The loan values the shopping center at $1.35B.
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Unibail-Rodamco-Westfield has decided to stay in the U.S. after announcing its departure in 2022.
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URW has pledged to accelerate its net-zero initiatives and has launched a program to evaluate and work with retail tenants at its malls.
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The recent Westfield-Unibail deal could force Simon Property Group to make its own big buy.
Our expert analysts believe this will allow Westfield to fine tune its shift in strategy in recent years.
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The successful first iteration of a wooden building fund leads to a larger successor.
The newly enlarged Unibail has decided to sell some of its non-core assets.
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