Westfield San Francisco Centre Review Leads to Downgrade, Loan on NY State’s Largest Mall Faces Default, Merchants Capital Completes $214 Million Securitization

Westfield San Francisco Centre Review Leads to Downgrade. Buyer interest in global retail giant Unibail-Rodamco-Westfield’s U.S. holdings was a hot topic of discussion at the 2022 ICSC conference this week in Las Vegas. The Paris-based group is pursuing the sale of its holdings in this country in hopes of wrapping up by the end of next year. While the portfolio holds some strong performers, it includes some underperformers as well. One of those notable properties is the Westfield San Francisco Centre, a 1.2 million-square-foot super-regional mall located in the city’s Union Square neighborhood.