Unibail-Rodamco-Westfield in the context of "Commercial property"

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⭐ Core Definition: Unibail-Rodamco-Westfield

Unibail-Rodamco-Westfield SE (previously Unibail-Rodamco SE) is a multinational commercial real estate company headquartered in Paris, France, and is the owner and operator of Westfield shopping centres in the European Union, United Kingdom and the United States. Its history originates with the formation of initially two separate shopping centre operators, Unibail (founded in France in 1968) and Rodamco Europe (founded in the Netherlands in 1999), which merged in 2007 and became a societas Europaea in 2009. In 2018, Unibail-Rodamco merged with Australian shopping centre operator Westfield Corporation to form the current company.

Many of its shopping centres use the Westfield brand launched by Australian Westfield Group in 1960 and shared with Scentre Group for properties in Australia and New Zealand since 2014. As of 2024, Unibail-Rodamco-Westfield is the largest commercial real estate company in Europe, and is a component of the Euro Stoxx 50 stock market index, as well as the French CAC40. Its portfolio consists of retail property, office buildings, and convention centers within Europe and North America. Retail properties owned by Unibail-Rodamco before the merger carry the Westfield name. As of July 2022, the group owned 87 shopping centres.

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Unibail-Rodamco-Westfield in the context of Societas Europaea

A societas Europaea (Classical Latin: [sɔˈkɪ.ɛtaːs eu̯roːˈpae̯.a], Ecclesiastical Latin: [soˈtʃi.etas eu̯roˈpe.a]; lit.'European association' or 'European company'; plural: societates Europaeae; abbr. SE) is a public company registered in accordance with the corporate law of the European Union (EU), introduced in 2004 with the Council Regulation on the Statute for a European Company. Such a company may more easily transfer to or merge with companies in other member states.

As of April 2018, more than 3,000 registrations had been reported. Several of the Euro Stoxx 50 stock market index of leading eurozone companies have been registered as SE: Airbus, Allianz, BASF, E.ON, Fresenius, LVMH Moët Hennessy Louis Vuitton (and its subsidiary Dior), SAP, Schneider Electric, TotalEnergies, Unibail-Rodamco-Westfield and Vonovia.

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Unibail-Rodamco-Westfield in the context of Westfield Group

Westfield Group was an Australian shopping centre company that existed from 1960 to 2014, when it split into two independent companies: Scentre Group, which owns and operates the Australian and New Zealand Westfield shopping centre portfolio; and Westfield Corporation, which continued to own and operate the American and European centre portfolio until it merged to form Unibail-Rodamco-Westfield.

Westfield Group undertook ownership, development, design, construction, funds/asset management, property management, leasing, and marketing activities. The multinational company was listed on the Australian Securities Exchange and had interests in and operated one of the world's largest shopping centre portfolios with investment interests in 103 shopping centres across Australia, the United States, the Netherlands, the United Kingdom, New Zealand, Italy, France, Sweden, Austria, Germany, Spain, Croatia, Poland, Czech Republic and Brazil, encompassing around 23,000 retail outlets and total assets under management in excess of A$63 billion.

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Unibail-Rodamco-Westfield in the context of Westfield Stratford City

Westfield Stratford City is a shopping centre in Stratford, East London, which opened on 13 September 2011. With a total retail floor area of 1,910,000 square feet (177,000 m), it is the largest urban shopping centre in the UK by land area and the 4th-largest shopping centre in the UK by retail space, behind Westfield London (White City), the MetroCentre, and the Trafford Centre.

Originally fully owned by the Westfield Group, in November 2010 ABP Pension Fund and CPP Investment Board each purchased a 25% shareholding, with Westfield retaining 50%. Westfield's holding is now owned by Unibail-Rodamco-Westfield following Unibail-Rodamco's acquisition of Westfield Corporation in 2018.

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Unibail-Rodamco-Westfield in the context of Garden State Plaza

Garden State Plaza (officially Westfield Garden State Plaza) is a shopping mall located in Paramus, in Bergen County, in the U.S. state of New Jersey. Owned and managed by Paris-based real estate management company Unibail-Rodamco-Westfield, the mall is situated at the intersection of Route 4 and Route 17 near the Garden State Parkway, about 15 miles (24 km) west of the New York City borough of Manhattan. Opened in 1957 as the first suburban shopping mall in New Jersey, it has 300 stores and 2,118,718 sq ft (196,835.3 m) of leasable space, ranked in 2022 as the 16th-largest shopping mall in the United States and qualifying it as a super-regional mall according to the standards of the International Council of Shopping Centers.

The mall had sales of $775 per square foot in 2013, almost 75% above the national average. In a study of malls in the United States performed on behalf of CNBC, published in 2018, Garden State Plaza ranked ninth in the nation, based on sales of $950 per square foot. Most of the mall, especially retail outlets, is closed on Sunday in accordance with state and local blue laws. Since April 2023, minors under the age of 18 are required to have an adult over 21 supervise them on Friday and Saturday nights.

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