Macerich Co. agreed to sell minority stakes in eight U.S. malls for $2.3 billion to Singapore’s GIC Pte and property investor Heitman LLC, a deal that will allow the landlord to pay a special dividend, buy back shares and cut debt.
GIC, in its first deal with Macerich, will own 40 percent of five malls, and Heitman will have a 49 percent interest in three, Macerich said in a statement Wednesday. The transactions are scheduled to close in phases starting in October and concluding in the first quarter.
Macerich has been under pressure to boost shareholder value after spurning a takeover offer from Simon Property Group Inc. earlier this year. The $2.3 billion deal with GIC and Heitman includes $1.14 billion of proceeds from new financing on five properties as part of the deal, Macerich said. The company plans to use the proceeds for share buybacks, debt reduction and a special dividend of $3.50 to $4.50 a share.
Subscribe to get the latest posts sent to your email.
This was a no brainier we all saw this coming. They were terrible as property managers, and it shows in the malls, they really let them go down bad.
Even the new retro Los Cerritos mall today, has less store square footage, and less parking in the mall. We all knew this would be sold eventually, when the high speed train was derailed from passing through this mall, plus no bus depot!
Glad to see said PM go, I hate to see anything Chinese coming into this area, because they will start selling Chinese fortune cookies from the Cheesecake Factory, and Nordstrom will start selling clothes sizes 1 through 5, to fit the Chinese, and hell with the European body figures.
Puppy Mill smelled with manure, Fiat Dealership smelt like fuel and then those window peep shows, to look at pervert teens modeling trendy clothes. Sofa chairs placed in the center isles, were covered w/ lice and bed bugs. Festival of Friendship another way to appease immigrants and keep serious buyers locked out of the mall.
Caring Nitrile Exam Gloves, Blue, Powder-Free, Disposable Gloves for Medical Care, First Aid, Cleaning, Food Prep
$6.29 (as of May 9, 2025 06:29 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
All-new Amazon Kindle Paperwhite (16 GB) – Our fastest Kindle ever, with new 7" glare-free display and weeks of battery life – Black
$159.99 (as of May 9, 2025 06:29 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Gifts for Mom from Daughter, Son - Mothers Day Gifts for Mom, Wife, Women - Moms Birthday Gift Ideas, Cool Birthday gifts for Moms, Mothers - Best mom Mug, 14 Oz Stainless Steel moms Coffee Mug
$23.95 (as of May 9, 2025 06:29 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Cardsmiths: Currency Series 4 Trading Cards Collector Box
$51.99 (as of May 9, 2025 06:29 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Trump Trading Card - Assasination Attempt- Gem 10 Graded - Trump Collectible Card - Trump Gifts - Trump 2024 - Make America Great Again
$9.99 (as of May 9, 2025 06:29 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
The Tenant
$14.39 (as of May 9, 2025 06:29 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Core Power Elite High Protein Shake, Chocolate, 42g Bottle, 14oz, 12 Pack
$46.10 (as of May 9, 2025 06:29 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Amazon Fire TV Stick 4K (newest model) with AI-powered Fire TV Search, Wi-Fi 6, stream over 1.5 million movies and shows, free & live TV
$29.99 (as of May 9, 2025 06:29 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
NTIERA Replacement Lid for Owala Freesip Water Bottle, Compatible with Owala Lid and Cap, Premium Accessories for 16oz 24oz 32oz 40oz Bottles,Leak-Proof,BPA-Free
$9.99 (as of May 8, 2025 17:25 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Wireless Earbuds, Bluetooth 5.3 Headphones Sport, Over Ear Buds With ENC Noise Cancelling Mic, 48H, Wireless Earphone With Earhooks, Stereo Deep Bass, IP7 Waterproof Headset for Workout Running, Black
$21.99 (as of May 8, 2025 17:25 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Los Cerritos Mall is dirty & does not have to be this dirty, because of construction . Mgmt has raped the buyers/shopper; plus city staff have been lazy to allow this to happen, chasing tax dollars to other surrounding malls in So Bay and OC Malls. Long Beach now has Nordies, so we lost (90803) Naples and Belmont Shore clients.
Cheesecake Factory will be supported by Rossmoor and Lakewood residents, Chinese from Cerritos are too dumb to know what good cheesecake should taste like.
Toooooo many theaters in row: Downey-Cerritos-Long Beach Towne Center-CCPA & Marina Pacific. Hollywood is not making enough movies to draw from.
Cerritos needs Ikea and Car Hop Cafe.
Titleist Pro V1
$54.95 (as of May 8, 2025 17:25 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Dog Mom Gifts For Women, Dog Lover Gifts, Mothers Day Gift for Mom Daughter Unique Birthday Gift, Christmas idea Set with 10oz Ceramic Coffee Mug for Dog-loving Friend
$16.99 (as of May 8, 2025 17:25 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Folding Washing Machine, 11L Mini Washing Machine with 3 Cleaning Modes, Suitable for Baby Clothes, Underwear, Socks, Portable Washing Machine Folding Design Suitable for Apartments, Camping & Travel
$29.99 (as of May 8, 2025 17:25 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Amazon Echo Dot (newest model), Vibrant sounding Alexa speaker, Great for bedrooms, dining rooms and offices, Charcoal
$37.99 (as of May 9, 2025 06:29 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Apple iPad 11-inch: A16 chip, 11-inch Model, Liquid Retina Display, 128GB, Wi-Fi 6, 12MP Front/12MP Back Camera, Touch ID, All-Day Battery Life — Silver
$299.00 (as of May 8, 2025 17:25 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Cardsmiths: Currency Series 4 Trading Cards Collector Box
$51.99 (as of May 9, 2025 06:29 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Nespresso Capsules Vertuo, Variety Pack, Medium and Dark Roast Coffee, 30 Count Coffee Pods, Brews 7.8 oz.
$40.52 (as of May 9, 2025 06:29 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Amazon Fire TV Stick HD (newest model), free and live TV, Alexa Voice Remote, smart home controls, HD streaming
$19.99 (as of May 9, 2025 06:29 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
The Tenant
$14.39 (as of May 9, 2025 06:29 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Ninja Swirl by CREAMi Ice Cream and Soft Serve Maker, Sorbet, Milkshake, Frozen Yogurt, Low Calories Program & More, 13-in-1, Soft Serve Handle, (2) CREAMi Swirl 16oz Pints, For Kids & ALL ages, NC701
$348.00 (as of May 8, 2025 17:25 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)