Westfield Corporation

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Group.png Westfield Corporation   LinkedIn Powerbase Twitter WebsiteRdf-icon.png
The Westfield Group logo.svg
Founder Frank Lowy
Headquarters Level 29, 85 Castlereagh Street, Sydney, Australia
Subgroups • Westfield Management Limited Westfield America Management Limited
• others
Staff 1,700

Westfield Corporation is an Australian-based British-American shopping centre company with retail destinations in England and the United States. It was created in June 2014 when Westfield Group separated its Australian and New Zealand businesses from its international operations, forming the Scentre Group.

The corporation undertakes ownership, development, design, construction, funds/asset management, property management, leasing, and marketing activities for its centres. It is listed on the Australian Stock Exchange and has a shopping centre portfolio that includes investment interests in 40 shopping centres across the United States and Europe, encompassing around 7,500 retail outlets and total assets under management in excess of $28.5 billion. It also operates Westfield Labs, a technology and design arm based inside the Westfield San Francisco Centre.[1]

On 12 December 2017, Paris-based company Unibail-Rodamco announced the takeover of Westfield Corporation for A$32.8bn (£18.5bn) subject to court and shareholder approvals. “Assets I’ve spent my life building, I could not imagine a better home for them than in this new company," Chairman Sir Frank Lowy said via a webcast from the Milan room in Westfield's London office.[2]

References

  1. "Westfield Leadership and Corporate Governance"
  2. "End of an era: Westfield accepts $32.8bn offer"
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