Retail Watchers

Posted: **August 23rd, 2023, 1:21 pm**

Bluelightspecial wrote: ↑August 22nd, 2023, 2:38 pm I think the only one's that maybe considered in that group are UTC, Valley Fair, Century City, & Topanga. World Trade Center is just a management agreement with the Port Authority. Even Garden State Plaza and Culver City are questionable as they aren't as upscale.

Roseville Galleria in my books can be considered a 'crown jewel' property.

Posted: **August 24th, 2023, 3:59 pm**

You may be right. I've never been there.....but I suspect they want to focus on larger population centers like Los Angeles

Posted: **August 24th, 2023, 5:50 pm**

The issue is probably in the current interest rate environment, the parties Westfield was hoping to sell to, had such high borrowing rates, that it no longer worked to get Westfield the multiples they were hoping for. So they will stay because they don't want to discount the properties to make up for the currently high interest rates.

Posted: **August 26th, 2023, 11:00 am**

storewanderer wrote: ↑August 24th, 2023, 5:50 pm The issue is probably in the current interest rate environment, the parties Westfield was hoping to sell to, had such high borrowing rates, that it no longer worked to get Westfield the multiples they were hoping for. So they will stay because they don't want to discount the properties to make up for the currently high interest rates.

I believe they had about 80 properties in the US and are down to 18, so only about 6 more to sell and they're down to their best. Only "Crown Jewel" sold was Arcadia and supposedly it went for top dollar, I'm sure they would have kept it but when someone offers that much might as well take the money.

Retail Watchers

Westfield not leaving the US after all?

Re: Westfield not leaving the US after all?

Re: Westfield not leaving the US after all?

Re: Westfield not leaving the US after all?

Re: Westfield not leaving the US after all?