WESTFIELD CEO PETER LOWY OFFERS BUSINESS PERSPECTIVE ON CALIFORNIA’S CURRENT ECONOMIC HEALTH

Los Angeles, CA – Tuesday, September 27, 2011 – Peter S. Lowy, Chief Executive Officer, Westfield Group, will address the topic “California (Still) the Land of Economic Opportunity?” with Town Hall Los Angeles on Tuesday, October 11, 2011, at the Millennium Biltmore Hotel in downtown Los Angeles. Angelenos will hear Lowy’s perspective on the state’s fiscal health and the opportunities that the current economic environment has created for partnerships between the private and public sectors.
 
On this topic, Lowy says, “There is no doubt that in a struggling economy, questions about government and its proper role in creating a solid platform for business and for growth are important themes; and as we all work toward doing more with less, government and the private sector can and should work in concert to ensure that the Golden State is, once again, the Land of Economic Opportunity.”

Originating in Sydney, Australia in 1959, Westfield entered the US market in 1977.  The Group has approximately $60 billion in assets under management and a market capitalization of approximately $37 billion.  It owns and operates 124 shopping centers in five countries: Australia, New Zealand, the United Kingdom, Brazil and here in the United States where it also develops and manages retail concessions at nine major airports. 

Recently, Westfield and the Port Authority of New York and New Jersey announced that they had reached an agreement in principle on commercial terms for a joint venture of the retail premises at the World Trade Center. The Port Authority and Westfield will work together to develop the retail facilities, with Westfield assuming responsibility for management and leasing on behalf of the $1.2 billion joint venture. 

Peter Lowy was appointed Managing Director of Westfield Holdings Limited in 1997 and he now serves, along with his brother Steven, as Joint Chief Executive of the Westfield Group. He has 28 years of experience in the shopping center and REIT industry having worked for Westfield since 1983.

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All accredited members of the media are invited to cover this event.  RSVPs required to Deborah Weinberg at 213.312.9307 or dweinberg@townhall-la.org. **Please credit Town Hall Los Angeles in your coverage.