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Westfield, the mall developer, unloads Metreon

Wednesday, April 18, 2012

imageShopping mall colossus Westfield Group has sold the Metreon to private equity firm Starwood Capital Group, but the Chronicle’s Andrew Ross blogs that it shouldn’t interfere with the Metreon’s renovation. That includes what’s maybe the world’s most glorified Target store as an anchor. Got to love this piece of real estate-speak from Westfield CEO Peter Lowry:
“This transaction is an important step in the repositioning of our portfolio to major retail assets with strong franchise characteristics.”
Add: It’s part of a $1.1 billion sale of Westfield properties, including its mall in Fairfield.
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