Peter Lowy News
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Westfield Group, the world’s biggest shopping center operator by assets, said it sold half shares in six malls in Florida to O’Connor Capital Partners for about $700 million.
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Westfield Group, the world’s biggest shopping mall operator by assets, plans to increase investments in the U.S. and U.K. to take advantage of rising retail demand, Co-chief Executive Officer Peter Lowy said.
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Westfield Group , the world’s largest owner of shopping centers by market value, doesn’t expect a double-dip recession in the U.S. after a recovery in the world’s biggest economy helped drive a return to profit.
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Westfield Group, the world’s biggest shopping mall operator by assets, is seeking joint-venture partners for developments and expansion in Brazil and Asia after a 69 percent surge in project income helped boost first-half earnings.
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Westfield Group , which last year spun off a unit owning stakes in its Australian and New Zealand malls to boost shareholder returns, prefers joint ventures with institutional investors for its U.S. and U.K. assets.
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Westfield Group , the world’s biggest shopping-center owner, is making a $1.2 billion bet that its new mall in east London will thrive long after the 2012 Olympic Games are over. That’s because it’s targeting some of the country’s wealthiest consumers.
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General Growth Properties Inc. Chief Executive Officer Sandeep Mathrani said he’s watching rival mall owner Westfield Group ’s planned sale of 17 U.S. properties before choosing a strategy for trimming his company’s holdings.
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Westfield Group said it had formed a $4.8 billion joint venture with the Canada Pension Plan Investment Board and plans to buy back as much as 10 percent of its stock, sending its shares up the most in 2 1/2 years.
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Westfield Group, the world’s biggest shopping center operator by assets, will sell eight malls in the U.S. for $1.15 billion, using the funds to repay debt and invest in businesses offering higher returns.
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Asian stocks rose, lifting the MSCI Asia Pacific Index for the fourth day, following higher-than- estimated profit from Westfield Group and a jump in U.S. industrial production.
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