URW: sells stake in Jumbo Centre in Finland

(CercleFinance.com) - URW: sells units in Jumbo Centre in FinlandUnibail-Rodamco-Westfield (URW) announces the sale of its 34% stake in the Jumbo Shopping Centre in Helsinki to its co-owner Elo Mutual Pension Insurance Company for a net price of 248.
6 million euros.

This price represents a premium over the book value as at 31 December and implies an initial net return of close to 5%. As one of the main shopping centres in the Finnish capital, Jumbo has over 12 million visitors each year.

After this transaction, the commercial real estate giant has yet to sell 3.7 billion euros of assets to reach its target of six billion euros in disposals announced on 13 February.



Copyright (c) 2019 CercleFinance.com. All rights reserved.