Westfield undertook ownership, development, design, construction, funds/asset management, property management, leasing, and marketing activities for its centres. Its portfolio included 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 operated Westfield Labs, a technology and design arm based inside the Westfield San Francisco Centre.
The first development of the Westfield Corporation was named "Westfield Place", and opened in July 1959 in Blacktown. The name Westfield is derived from "west" related to the West-Sydney location, and "field" due to having been located on subdivided farmland. The centre was opened by John Saunders and Frank Lowy.[8]
The company was floated on the Australian Stock Exchange in 1960 and built another five centres in New South Wales before expanding into Victoria and Queensland in 1966–67.[9]
The expansion into the United States began with the purchase of the Trumbull Shopping Park in Connecticut in 1977, and was followed by three centres in California, Michigan, and Connecticut in 1980 and three centres in California, New Jersey, and Long Island, New York in 1986.[9] In 1994, Westfield collaborated with General Growth and Whitehall Real Estate to purchase 19 centres for US$1 billion. By 2005, the company owned centres in 15 US states.[9]
In the 1990s, Westfield began a major expansion to New Zealand, where they mostly bought existing shopping centres of the Fletchers company, and progressively rebranded them. In 2007, with Westfield Albany, the company opened a new centre in the country.[10]
On 9 May 2006, Westfield announced the sale of eight United States shopping centres which it deemed to fit outside its strategic plan, to Centro Properties Group.[11]
In 2010, the Westfield Group split 50% of its Australian and New Zealand assets into the Westfield Retail Trust, trading on the Australian Stock Exchange as WRT. This trust was folded into the Scentre Group during the 2014 split.
In December 2017 the Westfield Board announced that it was recommending a takeover of the company by Unibail-Rodamco, one of the largest real estate companies in Europe, for a reported $24.8bn USD. The takeover was completed, and parent company was renamed Unibail-Rodamco-Westfield, in June 2018.
Westfield had interests in over 100 shopping malls worldwide, including the United States, the United Kingdom, France, Spain, Germany, Poland, Sweden, The Netherlands and Italy.[12]
^ abcd"Westfield Senior Management". www.westfieldcorp.com. Retrieved 1 June 2016.
^ ab"Interactive Investor". westfield2016sustainability.onyxinteract.com. Retrieved 1 June 2016.
^Morgan, Elysse; Verrender, Ian (12 December 2017). "Westfield: Lowy family sells shopping centre empire to French property giant for $32 billion". ABC News. Australia. Retrieved 12 December 2017.
^"Westfield agrees to $32.8 billion takeover by European giant Unibail-Rodamco". SBS News. AAP. 12 December 2017. Retrieved 12 December 2017.
^"French group to take over Westfield malls for $15.7 billion". Daily Herald. Chicago. AP. 12 December 2017. Retrieved 12 December 2017.
^"French bid would create $72bn shopping mall group". Financial Times. United Kingdom. 12 December 2017. Retrieved 12 December 2017.
^Cummins, Carolyn (12 December 2017). "End of an era: Westfield accepts $32.8bn offer". The Sydney Morning Herald. Retrieved 12 December 2017.
^"Westfield Stirs (1956–1960)" (PDF). Westfield History: About us. p. 14. Retrieved 5 January 2007.
^ abcSammartino, André; Van Ruth, Frances (2007). "The Westfield Group". In Dick, H.; Merrett, D. (eds.). The Internationalisation Strategies of Small-Country Firms: The Australian Experience of Globalisation. Cheltenham, UK: Edward Elgar. pp. 308–318.
^Gibson, Anne (23 August 2007). "Countdown under way for Albany supermall rollout". The New Zealand Herald.
^"Centro Watt Enters Mall Business; US Platform Well-Positioned to Continue Growth". www.businesswire.com. 11 May 2006. Retrieved 7 February 2019.
westfield, corporation, this, article, about, company, 2014, 2018, company, 1960, 2014, westfield, group, company, from, 2018, unibail, rodamco, westfield, this, article, contains, content, that, written, like, advertisement, please, help, improve, removing, p. This article is about the company 2014 2018 For the company 1960 2014 see Westfield Group For the company from 2018 see Unibail Rodamco Westfield This article contains content that is written like an advertisement Please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view March 2015 Learn how and when to remove this template message Westfield Corporation was an Australian commercial real estate company and operator of shopping centres It was founded with the spin off of the Westfield Group in 2014 where assets in Australia and New Zealand formed the Scentre Group and assets in the United Kingdom and United States formed the Westfield Corporation It was listed on the Australian Stock Exchange with the ticker symbol WFD Westfield CorporationTypePublicIndustryReal estate development shopping centre managementPredecessorWestfield Group 1960 2014 Founded2014 9 years ago 2014 FounderFrank LowyJohn SaundersDefunctJune 2018FateMerged with Unibail RodamcoSuccessorUnibail Rodamco Westfield 2018 present HeadquartersLevel 29 85 Castlereagh Street Sydney AustraliaArea servedAustralia New Zealand United States United KingdomKey peopleSteven Lowy Co CEO 1 Peter Lowy Co CEO 1 Sir Frank Lowy Chairman Brian Schwartz Deputy Chairman Michael Gutman President amp COO 1 Elliott Rusanow CFO 1 RevenueA 635 5 million 2014 Total assetsA 29 billion 2016 2 Number of employees1 700 worldwide 2016 2 SubsidiariesWestfield Management Limited Westfield America Management LimitedWebsitewww wbr westfieldcorp wbr comWestfield accepted a 32 8 billion takeover offer from Unibail Rodamco excluding Westfield Labs on 12 December 2017 The takeover was completed and parent company was renamed Unibail Rodamco Westfield in June 2018 3 4 5 6 7 Westfield undertook ownership development design construction funds asset management property management leasing and marketing activities for its centres Its portfolio included 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 operated Westfield Labs a technology and design arm based inside the Westfield San Francisco Centre Contents 1 History 2 Properties 3 See also 4 References 5 External linksHistory EditThe first development of the Westfield Corporation was named Westfield Place and opened in July 1959 in Blacktown The name Westfield is derived from west related to the West Sydney location and field due to having been located on subdivided farmland The centre was opened by John Saunders and Frank Lowy 8 The company was floated on the Australian Stock Exchange in 1960 and built another five centres in New South Wales before expanding into Victoria and Queensland in 1966 67 9 The expansion into the United States began with the purchase of the Trumbull Shopping Park in Connecticut in 1977 and was followed by three centres in California Michigan and Connecticut in 1980 and three centres in California New Jersey and Long Island New York in 1986 9 In 1994 Westfield collaborated with General Growth and Whitehall Real Estate to purchase 19 centres for US 1 billion By 2005 the company owned centres in 15 US states 9 In the 1990s Westfield began a major expansion to New Zealand where they mostly bought existing shopping centres of the Fletchers company and progressively rebranded them In 2007 with Westfield Albany the company opened a new centre in the country 10 On 9 May 2006 Westfield announced the sale of eight United States shopping centres which it deemed to fit outside its strategic plan to Centro Properties Group 11 In 2010 the Westfield Group split 50 of its Australian and New Zealand assets into the Westfield Retail Trust trading on the Australian Stock Exchange as WRT This trust was folded into the Scentre Group during the 2014 split In December 2017 the Westfield Board announced that it was recommending a takeover of the company by Unibail Rodamco one of the largest real estate companies in Europe for a reported 24 8bn USD The takeover was completed and parent company was renamed Unibail Rodamco Westfield in June 2018 Properties EditMain article List of Westfield shopping centres Westfield had interests in over 100 shopping malls worldwide including the United States the United Kingdom France Spain Germany Poland Sweden The Netherlands and Italy 12 See also EditLend Lease Corporation Shopping property management firmsReferences Edit a b c d Westfield Senior Management www westfieldcorp com Retrieved 1 June 2016 a b Interactive Investor westfield2016sustainability onyxinteract com Retrieved 1 June 2016 Morgan Elysse Verrender Ian 12 December 2017 Westfield Lowy family sells shopping centre empire to French property giant for 32 billion ABC News Australia Retrieved 12 December 2017 Westfield agrees to 32 8 billion takeover by European giant Unibail Rodamco SBS News AAP 12 December 2017 Retrieved 12 December 2017 French group to take over Westfield malls for 15 7 billion Daily Herald Chicago AP 12 December 2017 Retrieved 12 December 2017 French bid would create 72bn shopping mall group Financial Times United Kingdom 12 December 2017 Retrieved 12 December 2017 Cummins Carolyn 12 December 2017 End of an era Westfield accepts 32 8bn offer The Sydney Morning Herald Retrieved 12 December 2017 Westfield Stirs 1956 1960 PDF Westfield History About us p 14 Retrieved 5 January 2007 a b c Sammartino Andre Van Ruth Frances 2007 The Westfield Group In Dick H Merrett D eds The Internationalisation Strategies of Small Country Firms The Australian Experience of Globalisation Cheltenham UK Edward Elgar pp 308 318 Gibson Anne 23 August 2007 Countdown under way for Albany supermall rollout The New Zealand Herald Centro Watt Enters Mall Business US Platform Well Positioned to Continue Growth www businesswire com 11 May 2006 Retrieved 7 February 2019 Westfield Unibail Rodamco Westfield External links EditOfficial website Retrieved from https en wikipedia org w index php title Westfield Corporation amp oldid 1176758188, wikipedia, wiki, book, books, library,
