Westfield Sells Five U.S. Malls

International retail real estate company Westfield Group (Los Angeles) has sold five of its shopping malls in the U.S. The properties were sold to Centennial Real Estate (Dallas) along with Montgomery Street Partners, a subsidiary of Blum Capital Partners (San Francisco), and USAA Real Estate (San Antonio, Texas) for $1 billion.

Retailing Today reports Westfield sold the properties in order to focus on its flagship assets, which includes the World Trade Center Mall opening in 2016.

Westfield currently owns 44 malls in Europe and the U.S.