News: URW Property company Unibail-Rodamco-Westfield to sell Gera Arcaden in Germany for €116 Mn

April 4 (Reuters) - Unibail-Rodamco-Westfield SE URW.AS :

• REG-UNIBAIL-RODAMCO-WESTFIELD TO SELL GERA ARCADEN IN GERMANY FOR €116 MN
• TODAY ANNOUNCES AN AGREEMENT WITH AN INSTITUTIONAL INVESTOR FOR SALE OF GERA ARCADEN, IN GERMANY, FOR AN AGREED TOTAL ACQUISITION COST OF EUR 116 MN (AT 100%, URW SHARE 51%), WHICH REPRESENTS A PREMIUM TO LAST APPRAISED VALUE.
• TRANSACTION IS EXPECTED TO COMPLETE IN Q2-2022, SUBJECT TO STANDARD CLOSING CONDITIONS.
• REG-UNIBAIL-RODAMCO-WESTFIELD TO SELL GERA ARCADEN IN GERMANY FOR €116 MN
• GERA ARCADEN IS AN 38,300 SQM SHOPPING CENTRE, INCLUDING OFFICES, LOCATED IN CITY CENTRE OF GERA.
• ALSO ENTERED INTO A MANAGEMENT CONTRACT AND WILL CONTINUE ASSET AND PROPERTY MANAGEMENT OF CENTRE THROUGH ITS GERMAN THIRD-PARTY ASSET MANAGEMENT BUSINESS.
• THIS TRANSACTION IS EXPECTED TO COMPLETE IN Q2-2022, SUBJECT TO STANDARD CLOSING CONDITIONS.
• SALE PRICE FOR THIS ASSET REPRESENTS A PREMIUM TO LAST APPRAISED VALUE.
• GERA ARCADEN IS AN 38,300 SQM SHOPPING CENTRE, INCLUDING OFFICES, LOCATED IN CITY CENTRE OF GERA.