Retail developer Westfield Corporation has sold off five malls in the US, many housing family entertainment centres and other family attractions, in a deal worth $1.1bn.
As part of its divestment strategy, the company sold the Connecticut Post centre in Connecticut, the Fox Valley and Hawthorn malls in Illinois, MainPlace in California and the Vancouver centre in Washington.
The new investors are a newly formed joint venture comprising Centennial Real Estate Company, Montgomery Street Partners and USAA Real Estate. Westfield will retain a 20 per cent stake.
Connecticut Post boasts the Wow Entertainment FEC and a 7D ride attraction, while MainPlace features a new Round 1 Entertainment bowling centre.
