What: Unibail-Rodamco-Westfield (URW) sold Westfield Valencia Town Center to Centenniel Real Estate.

Why it is important: The sale of the shopping center helps URW reach its deleveraging target as the USD 199 million sale price overpasses the USD 195 million debt accompanying the mall.

URW will retain a 50% share in the property due to their belief its long-term prospects. The mall was only discounted by less than 3% compared to the previous independent appraisal which reaffirmed its strong market value. Westfield Valencia Town Center is rated A- and maintains an occupancy rate of 87%.

The group's plans to optimise its portfolio by carrying out several other transactions this year including Westfield Brandon, Westfield Mission Valley East and West, and Westfield North County.

URW sells Westfield Valencia Town Center for USD 199 million