Westfield Group Giving up Malls

1 decade 3 years 1 month ago Friday, August 10 2007 Aug 10, 2007 Friday, August 10, 2007 11:19:20 AM CDT August 10, 2007 in News
Source: (Copyright 2007 The Associated Press All Rights Reserved.)
ST. LOUIS (AP) - The Australia shopping mall company Westfield Group is giving up control of four St. Louis-area malls to CBL and Associates Properties Incorporated as part of a $1 billion deal. Another Westfield shopping center, Crestwood Mall, will be put up for sale. Westfield says it agreed to sell Westfield Chesterfield Mall to CBL and transfer West County Mall, Mid Rivers Mall and South County Center to a joint venture between Westfield and CBL. CBL will contribute St. Clair Square, five other malls in the U.S. and three associated centers to the new joint venture.

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