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- Shopping-mall giant Macerich is suffering from some post-pandemic recovery pains. The Los Angeles-based REIT, one of the largest owners and operators of shopping centers in the country, is poised to sell or hand over some of its properties to investors to help settle some of its mounting debt obligations, according to reporting by Bisnow.
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May 1, 2024 · The REIT partly blamed the decline on the bankruptcy of Express, an apparel retailer that plans to close more than 100 of its 530 stores. The 60-year-old Macerich withdrew its prior earnings...
3 days ago · The 527,000-square-foot mall at 395 Santa Monica Place was built in 1980. Macerich acquired it in 1999 for $130 million. The REIT renovated the property in 2007 for $265 million, transforming it into the open-air concept it is today. Yet Macerich has struggled to maintain the building in the wake of the COVID-19 pandemic.
SANTA MONICA, Calif., March 12, 2024 (GLOBE NEWSWIRE) -- Macerich (NYSE: MAC), one of the nation’s leading owners, operators and developers of high-quality retail and mixed-use properties in top markets, today marked its 30 th anniversary as a public company by ringing the closing bell at the New York Stock Exchange.
3 days ago · Macerich has surrendered the Santa Monica Place mall to its lender after defaulting on a $300 million loan. The locally based real estate investment trust has walked away from the 527,000-square ...
Apr 30, 2024 · The Los Angeles-based REIT, one of the largest owners and operators of shopping centers in the country, is poised to sell or hand over some of its properties to investors to help settle some of its mounting debt obligations, according to reporting by Bisnow.
Mar 12, 2024 · Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT).
Apr 30, 2024 · Shares in mall owner Macerich fell by 8% in trading Tuesday after the publicly traded REIT disclosed a substantial decline in cash flow and indicated it could have to sell or hand over properties...
