NEW YORK CITY- Stamford, CT-based Starwood CapitalCorp. is in discussions with Sydney-basedWestfield Group for majority stakes in seven USmalls, the Wall Street Journal reported. While the terms ofthe deal have not been publicly released due to confidentialityagreements, the transaction is expected to go for as high as $1billion.

The WSJ said five of the seven are among 17 US mallsthat Westfield put on the market last year. In 2011, the companyteamed up with Toronto-based Canada Pension Plan InvestmentBoard as a 45% joint venture partner in a portfolio of 12US assets, with a value of about $4.8 billion, GlobeSt.com previously reported. Thecompany has also sold its 50% interest in three malls in the UnitedKingdom, with these centers valued at about $632 million.

Starwood Capital has tapped Manhattan-based brokerageEastdil Secured to line up mortgages to put onthree of the malls, and it will assume mortgages already in placefor the other three, though the financing on the final propertycould not be determined, the WSJ said.