Unibail-Rodamco-Westfield (URW) has agreed to sell three office properties in the Parisian business district of La Défense for a total of €213 mln.
The firm said it had inked a deal with several French institutional investors for the sale of the Village 3 office building on December 9, before subsequently selling the Village 4 & Village 6 office buildings on December 18.
The offices have a combined GLA of 22,144 m2, and the main tenants are Orange and Orange Cyberdefense.
The price represents a premium to the latest unaffected book value, according to URW. The deals are expected to close in the first quarter of 2021 and form part of URW's planned €4 bn disposal programme.
Upon closing of these transactions and the SHiFT disposal previously announced, the group will have completed €0.8 bn of this target.
The successful sales follow the latest twist in the URW saga, which has seen rebel shareholders take control of the company, replacing much of senior management.
