Unibail streamlines portfolio with sales, purchases

02/18/2010 | Reuters

Unibail is purchasing several large shopping malls from Simon Property Group and Ivanhoe Cambridge for $966 million. It also recently sold five malls for $317 million. The sales transaction was likely done for portfolio-management purposes, analysts say. "These shopping centers probably didn't meet an economic return target above their cost of capital," said Collins Stewart analyst Aaron Guy.

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