Unibail-Rodamco-Westfield (URW) has completed the sale of The Village, an outdoor lifestyle destination in the San Fernando Valley of Los Angeles, to the Kroenke Organization for a sale price of $325 million.

This brings URW's total US deleveraging proceeds to $1.1 billion and is part of their plan to reduce their financial exposure to the US.

The Kroenke Organization is owned by E. Stanley Kroenke, who is the owner and chairman of the Los Angeles Rams and the developer of SoFi Stadium and Hollywood Park.