The purchase price encompasses $41 million in cash, $210 million in equity and $505 million of mortgage debt. Westfield believes the acquisition offers a number of marketing, leasing, expansion and growth opportunities and complements its existing portfolio; providing a new cluster in Ohio and adding to existing holdings in Missouri and Washington.

The nine Jacobs centers acquired by Westfield are: Belden Village, Canton, Ohio; Chesterfield Mall, Chesterfield, Missouri; Eastridge Mall, Gastonia, North Carolina; Gateway Mall, Lincoln, Nebraska; Midway Mall, Elyria, Ohio; Richland Mall, Mansfield, Ohio; Southcenter Mall, Seattle, Washington; Southlake Mall, Merrillville, Indiana; and SouthPark Center, Strongville, Ohio.

With this transaction, the Westfield America portfolio now includes 48 shopping centers with more than 48 million square feet of retail space. Upon completion of the acquisition of the Rodamco N.A. centers announced in January 2002, the Westfield America portfolio will comprise 61 shopping centers in 14 states, with 62 million square feet of retail space and approximately 8,150 retailers