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Starwood Closes on $1.6B Mall Acquisition

Westfield Sells Seven Regional Centers in Midwest and West Coast, Retains 10% Equity Interest in Portfolio
By Justin Sumner
CoStar News
November 19, 2013 | 4:39 P.M.

Private investment firm Starwood Capital Group closed on its previously announced acquisition of a majority interest in seven regional malls across the U.S., through a controlled affiliate. Westfield Group sold the assets for $1.64 billion, or approximately $224 per square foot, and will retain a 10% common equity interest in the properties.

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News | Starwood Closes on $1.6B Mall Acquisition