The Metropolitan Transit Authority has selected Westfield Group to lease out stores at the Fulton Street Transit Center. This would make the Australian shopping center owner a dominant retail landlord in lower Manhattan.
Westfield Group
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Sydney-based Westfield Group agreed to acquire the 50% stake held by the Port Authority of New York and New Jersey in the retail space of the World Trade Center site for USD 800 million.
Westfield Group's Australia and New Zealand businesses will be spun off from its global retail assets. Assets of the Australian and New Zealand units will be merged with Westfield Retail Trust to form a new company.
Sydney-based property trust Westfield Group and London-based property developer Hammerson obtained preliminary approval from the local government council of Croydon to rebuild a shopping center in South London.
Westfield Group said it would sell its seven US shopping centers to Starwood Capital in a deal valued at USD1.6 billion.
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