Unibail-Rodamco-Westfield SE (OTC:UNBLF), the French commercial real estate company, is looking to sell off most of its U.S.-based malls after purchasing the properties four years ago for roughly $14 billion.
What Happened: The Wall Street Journal reported Unibail CEO Jean-Marie Tritant announced the timeline for shedding its U.S. portfolio in an address to the company’s investors. At the end of 2021, the company valued its U.S. portfolio at $13.2 billion, at the end of last year, and the Journal reported that Unibal executives were confident they could achieve their deleveraging target even if the portfolio sells at a 30% discount of its internal valuation.
