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URW secures new financing for Westfield Century City in LA

Property giant Unibail-Rodamco-Westfield (URW) has secured 925 million dollars in fresh funding for Westfield Century City in Los Angeles. The new financing is a two-year floating rate Commercial Mortgage-Backed Securities (CMBS) with the option for three one-year extensions with a spread of 280.7bps over Secured Overnight Financing Rate (SOFR)....