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Unibail-Rodamco-Westfield sells its German property management business

Portugal-based Sonae Sierra has bought URW REM
Le centre commercial Riem Arcaden, à Munich. (Costar)
Le centre commercial Riem Arcaden, à Munich. (Costar)

Unibail-Rodamco-Westfield continues to sell off its assets. After announcing at other major deals at the end of July – the sale of the Pullman Paris Montparnasse hotel for over €300 million and the sale of its US airport activities for €295 million – the listed property company has this time signed an agreement with Portuguese group Sonae Sierra for the sale of its German property management business, URW REM.

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