URW to Acquire Full Ownership of San Diego's Westfield UTC for $705M
IN SHORT
Unibail-Rodamco-Westfield (URW) has entered into a conditional agreement to acquire the remaining 50% stake in its Westfield UTC shopping center in San Diego for approximately $705 million. The deal, expected to close by year-end, will be funded by cash and newly issued URW shares.
Key Numbers
$705 millionacquisition price for Westfield UTC stake
50%remaining stake in Westfield UTC
2.6 millionnew URW shares to be issued
December 31, 2026target closing date
1.2 million square feetsize of Westfield UTC center
Who's Involved
Unibail-Rodamco-Westfield (URW)
Retail real estate giant acquiring full ownership of Westfield UTC
Westfield UTC
San Diego shopping center subject to acquisition
↳ Why This Matters
The acquisition signifies URW's strategy to consolidate ownership of prime retail assets, potentially leading to greater control over leasing and future redevelopment opportunities for one of San Diego's significant shopping destinations.