HCohen schreef op 13 september 2023 09:23:
Westfield Owner Rethinks Mall Plans as Brick-and-Mortar PersistsThe owner of the Westfield malls group is reportedly rethinking its plan to exit the U.S.
Instead, The Wall Street Journal reported Tuesday (Sept. 12), Paris-based Unibail-Rodamco-Westfield will hold onto some of its best-performing malls, while still getting rid of most of its properties in the U.S. by the year’s end.
Chief Executive Jean-Marie Tritant told investors recently that “our strong operational performance gives us flexibility on when we’ll execute” additional sales, though the company still intends to undertake a “radical reduction” of its American portfolio.
The company owns 16 malls, among them Westfield Century City in Los Angeles and Westfield Garden State Plaza in northern New Jersey and has invested substantially into some of the properties it was expected to have sold off, the WSJ said.
The report notes that while older malls have seen their values plunge, many higher-end shopping centers continue to do well.