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Macerich Lines up $1 Billion in Loan Financings

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Macerich Co., a real estate investment trust, said Tuesday it closed five major loan financings and committed to a sixth financing for a total of $1.05 billion.

The five transactions that closed totaled $895 million and generated excess proceeds above prior loans of $576 million, which were used to pay down Macerich's line of credit.

Macerich owns about 77 million square feet of leasable area, mostly consisting of interests in 72 regional malls.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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