Monday, March 25, 2013

Westfield Enters $1.3B JV With O'Connor Capital

National Commercial Real Estate News From CoStar Group

Westfield Enters $1.3B JV With O'Connor Capital

Westfield Group has entered into a joint-venture agreement with O'Connor Capital Partners covering six of its regional malls across Florida.

O'Connor's investment will equal a 49.9-percent interest stake in the portfolio following a series of transactions with a gross value of $1.283 billion. The price O'Connor will pay is equal to Westfield's book value. Westfield Group will remain as property, leasing and development manager at the six properties...

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