Westfield Agrees to Buy 9 U.S. Shopping Malls

The corporate parent of Los Angeles-based Westfield America Inc. agreed to buy nine regional malls across the United States from the Jacobs Group of Cleveland for $250million in cash and stock.

Westfield America Trust, an Australian real estate company that owns all or part of 39 U.S. shopping centers, said the acquisition of the Jacobs properties will increase its portfolio by 9.7 million square feet of space. Four of the properties are in Ohio and the rest are in five other states.

In the Los Angeles area, Westfield America’s properties include malls in Arcadia, Eagle Rock, Fox Hills and Woodland Hills.