Unibail-Rodamco-Westfield (URW) has reportedly taken a package of three major German shopping centers off the market. As reported by Immobilien Zeitung, the assets—Minto in Mönchengladbach, Palais Vest in Recklinghausen, and Höfe am Brühl in Leipzig—were offered through real estate firm BNP Paribas Real Estate but have now been quietly withdrawn. The report cites sources within industry circles.
Neither URW nor BNP Paribas have commented on the matter.
The move comes as part of URW’s broader effort to divest from five major retail properties in Germany. In addition to the three withdrawn centers, the company is also seeking to sell its 20% stake in Berlin’s Gropius Passagen and its 50% share in the Paunsdorf Center near Leipzig. However, the sales process is reportedly proving challenging in the current market environment.
