October 30, 2015
Macerich is selling stakes in eight malls to two different entities for a combined $2.3 billion. In one venture, Singapore’s GIC sovereign wealth fund will buy 40 percent in five Macerich malls. In the second, global real estate management firm Heitman will purchase 49 percent in the other three Macerich properties. The deal demonstrates international investors’ continued interest in U.S. malls, says Arthur M. Coppola, chairman and CEO of Macerich. “These transactions highlight the significant differential between the private and public market valuation of our assets.”
