UNIBAIL-RODAMCO SE: Unibail-Rodamco-Westfield enters into an agreement to sell Tour Majunga

Paris, Amsterdam, April 9, 2019

Press release

Unibail-Rodamco-Westfield enters into an agreement to sell Tour Majunga

Unibail-Rodamco-Westfield today entered into an agreement with a consortium of institutional buyers for the sale of Tour Majunga in La Défense. The net disposal price of €850 Mn represents a premium to the December 31, 2018, book value.

This transaction is subject to standard conditions precedent and is expected to close in early July 2019.

Tour Majunga is an office building with a GLA of over 67,000 sqm located in the heart of La Défense business district (Paris region).

Upon the closing of this transaction, the €3 Bn of disposals announced in December 2017 will have been exceeded. These disposals were made at an average net initial yield of 4.5% and an average premium above book value of 7.2%. The Group announced on February 13, 2019, that it had increased its disposal target to a total of €6 Bn to be reached in the next couple of years. €2.9 Bn of assets remain to be disposed of after the completion of this transaction.

For further information, please contact:

Investor Relations
Samuel Warwood
Maarten Otte
[phone]
[e-mail] (mailto:[e-mail])

Media Relations
Tiphaine Bannelier-Sudérie
[phone]
[e-mail] (mailto:[e-mail])

About Unibail-Rodamco-Westfield

Unibail-Rodamco-Westfield is the premier global developer and operator of flagship shopping destinations, with a portfolio valued at €65.2 Bn as at December 31, 2018, of which 87% in retail, 6% in offices, 5% in convention & exhibition venues and 2% in services. Currently, the Group owns and operates 92 shopping centres, including 55 flagships in the most dynamic cities in Europe and the United States. Its centres welcome 1.2 billion visits per year. Present on 2 continents and in 12 countries, Unibail-Rodamco-Westfield provides a unique platform for retailers and brand events, and offers an exceptional and constantly renewed experience for customers.
With the support of its 3,700 professionals and an unparalleled track-record and know-how, Unibail-Rodamco-Westfield is ideally positioned to generate superior value and develop world-class projects. The Group has a development pipeline of €11.9 Bn.
Unibail-Rodamco-Westfield distinguishes itself by its Better Places 2030 agenda, that sets its ambition to create better places that respect the highest environmental standards and contribute to better cities.
Unibail-Rodamco-Westfield stapled shares are listed on Euronext Amsterdam and Euronext Paris (Euronext ticker: URW), with a secondary listing in Australia through Chess Depositary Interests. The Group benefits from an A rating from Standard & Poor's and from an A2 rating from Moody's.

For more information, please visit www.urw.com
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(https://www.instagram.com/urw_group/)Access the URW 2018 report at https://report.urw.com/2018/ (https://report.urw.com/2018/)

20190409 URW PR - Signing Tour Majunga (http://hugin.info/136618/R/2241238/883908.pdf)

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Source: UNIBAIL-RODAMCO SE via Globenewswire