URW divests 45% stake in Westfield Carré Sénart shopping centre in Paris

Unibail-Rodamco-Westfield (URW), a French commercial real estate company, has wrapped up the previously announced sale of a 45% stake in the Westfield Carré Sénart shopping centre in Greater Paris to Société Générale Assurances and BNP Paribas Cardif.

The deal, which was announced earlier this month, paves the way for the creation of a joint venture.

According to Unibail-Rodamco-Westfield, the implied offer price for the Westfield Carré Sénart shopping centre at 100% aligns with the last appraisal value of around €1 billion.

Unibail-Rodamco-Westfield sells 45% stake in Westfield Carré Sénart shopping centre in Paris. Photo courtesy of tangopaso/Wikimedia Commons.

Westfield Carré Sénart is a shopping and leisure destination that is spread over an area of 117,000 sqm. After a couple of extensions executed in 2017 and 2019, the shopping centre in Paris is said to have drawn 12 million visits in 2019.