Unibail-Rodamco-Westfield (URW) today announced that it has entered into separate agreements with several French institutional investors for the sale of the Village 3 office building on December 9, and the Village 4 & Village 6 office buildings on December 18 in La Défense, Paris.
URW said the total net disposal price of €213 million represents a premium to the latest unaffected book value.
The transactions are subject to standard conditions precedent and are expected to close in Q1 2021.
The office buildings are located in La Défense (Paris region), Europe’s largest purpose-built business district, and have a combined GLA of 22,144 sqm with Orange and Orange Cyberdefense as the main tenants.
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These transactions are part of URW’s €4 billion disposal program. Upon closing of these transactions and the SHiFT disposal previously announced, the Group will have completed €0.8 billion of this target.