Westfield Group signed a joint venture worth US$1.28 billion for six U.S shopping centres.
Westfield has entered an agreement with O’Connor Capital Partners for a series of transactions, which will see the investment in a portfolio comprising of six Westfield regional malls in Florida.
O’Connor’s investment will represent a 49.9 per cent interest in this portfolio. Westfield will remain as property, leasing and development manager.
“This agreement carries on the group’s strategy introducing joint venture partners into our assets globally as well as disposing of non-core assets,” said Peter Lowy, Westfield Group co-CEO.