Macerich
American real estate company
The Macerich Company (/ˈmeɪsrɪtʃ/ MAYSS-ritch) is a real estate investment trust that invests in shopping centers. It is the third-largest owner and operator of shopping centers in the United States. As of December 31, 2024, the company owned interests in 43 properties comprising 43 million square feet of leasable area. The company name is a portmanteau of its founders, Mace Siegel and Richard Cohen.
01History
The company traces its antecedents to the MaceRich Real Estate Company founded in New York in 1964 by Mace Siegel and Richard Cohen who combined their first names to name their company.
In 1994, the company became a public company via an initial public offering.
In 2002, Macerich acquired Phoenix, Arizona, based Westcor for $1.475 billion. The purchase added 9 properties to Macerich's portfolio making them the largest mall owner in the Phoenix Metropolitan Area.
In 2005, the company acquired most of Rochester, New York-based Wilmorite Properties' portfolio for $2.333 billion, adding 11 shopping centers to Macerich's portfolio, including Tysons Corner Center in Tysons, Virginia.
In 2006, the company name was rebranded to "Macerich."
On April 1, 2015, the company rejected a $16.8 billion takeover offer from Simon Property Group.
In 2024, Jackson Hsieh took over as CEO of Macerich, succeeding former CEO, Thomas O'Hern. In the same year, the company announced that Daniel Swanstrom would succeed Scott Kingsmore as CFO.
02Notable investments
Sources and credits
This article is adapted from the Wikipedia article “Macerich”, written by its contributors and licensed under CC BY-SA 4.0. Fathomly has changed the layout, removed citation markers, navigation and maintenance notices, and adjusted punctuation. This adapted version is shared under the same license. For references, see the original article.
Images, from Wikimedia Commons:
- Citadel Mall - Santa Tracking Station Opening - 17 Nov 2005 - 112105 hi.jpg by NORAD Public Affairs, Sgt. 1st Class Gail Braymen, Public domain
Fathomly is not affiliated with or endorsed by the Wikimedia Foundation. Spotted a problem? Tell us.
