Macerich reeled in $62.2 million in net income during the last three months of 2023 or 3,580 percent more than the $1.7 million in profit it reported in the fourth quarter of 2022.
Macerich also ended the year closing refinancing deals on some of its debt, pushing out near-term maturities, as many other mall owners have defaulted on loans tied to properties. On the leasing front, 93.5 percent of its portfolio was occupied at the end of last year, up from 92.6 percent at the end of 2022 and 91.5 percent in 2021.
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