Unibail-Rodamco-Westfield (URW) has sold the Westfield Valencia Town Center to Dallas-based Centennial for $199M, the companies have announced.
The European mall giant, based in Paris, said in February that it sopped repaying the $195M secured debt on the 60-acre mall, located at 24201 Valencia Boulevard in Santa Clarita, when it matured in January. The mall's asset value was $100M as of December 2022.
Centennial said in a statement that it is planning to reposition the Valencia Town Center as a live-work-play destination.
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