URW to sell Almere Centrum in the Netherlands
Property giant Unibail-Rodamco-Westfield has announced that it’s to sell Almere Centrum in The Netherlands for €155 million. It has struck a deal with a group of private investors led by the UMB Group for the sale of the location. The price is in line with the last appraisal value.
Almere Centrum is an 87,000 sq m high-street retail asset in the city centre of Almere. It hosts a raft of big-name stores including H&M, Primark, Pull&Bear, Superdry, G-Star Raw, Rituals, Zara, and Pandora, among others.
The company said the transaction is expected to complete before the end of July, subject to standard closing conditions. On closing, URW will have completed €2.7 billion of its planned €4 billion European disposal programme.
Like many other property specialists around the world, URW is focusing on its major assets and disposing of those not seen as core to its future.
That can be seen from its sale just a few months ago of Gera Arcaden in Germany for €116 million, which was the latest in a strong of sales.
At the same time it has focused heavily on its Westfield brand and recently said it would convert key properties in Spain, Sweden and Poland to that name.
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