Centennial, a retail real estate owner and operator, completed the acquisition of Westfield Valencia Town Center, a sophisticated two-level regional retail destination, from Unibail-Rodamco-Westfield, a global developer and operator of flagship shopping destinations, for $199m. “Valencia Town Center is prime retail real estate with an LA-adjacent location in a prosperous and growing community, all of which makes it a tremendous asset for Centennial’s expanding portfolio of owned and managed properties. We do envision some changes for Valencia Town Center, similar to the strategic redevelopments taking place now at Hawthorn and Fox Valley in the Chicago area. While it is too soon to announce any definitive plans, Valencia Town Center is in the perfect location to become a multi-use live-work-play destination that seamlessly and aesthetically combines retail, restaurants, entertainment, luxury living and office space in a single master-planned campus,” Carl Tash, Centennial Chief Investment Officer and Senior Executive Vice President.