Macerich is on track to cut $2 billion in debt by selling properties like The Oaks mall and pursuing redevelopment of key centers, showing investor confidence.
CEO Jackson Hsieh noted that the recent sale of The Oaks, despite needing major redevelopment, indicates a healthy appetite among investors for B-level properties.
The Path Forward Plan categorizes malls into Fortress, Steady Eddy, and Eddie, helping Macerich focus on the most promising properties for future investments.
CFO Scott Kingsmore indicated that they are close to selling Lakewood Center and are engaged in negotiations for multiple other properties to reduce debt.
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