Macerich
 | |
| Type | Public |
|---|---|
| Industry | Real estate investment trust |
| Founded | 1964 |
| Founder | Mace Siegel Richard Cohen |
| Headquarters | Santa Monica, California, U.S. |
| Key people | Steven Hash (chairman of the Board) Jackson Hsieh (CEO) Daniel Swanstrom (CFO) Ann C. Menard (CLO) |
| Revenue |  $918 million (2024) |
| -$194 million (2024) | |
| Total assets | $8.567 billion (2024) |
| Total equity | $2.756 billion (2024) |
Number of employees | 616 (2024) |
| Website | www |
| Footnotes [1] | |
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.[1] The company name is a portmanteau of its founders, Mace Siegel and Richard Cohen.[2]
History
[edit]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.[2]
In 1994, the company became a public company via an initial public offering.[3]
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.[4]
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.[5]
In 2006, the company name was rebranded to "Macerich."[6]
On April 1, 2015, the company rejected a $16.8 billion takeover offer from Simon Property Group.[7][8]
In 2024, Jackson Hsieh took over as CEO of Macerich, succeeding former CEO, Thomas O'Hern.[9][10] In the same year, the company announced that Daniel Swanstrom would succeed Scott Kingsmore as CFO.[11][12]
Notable investments
[edit]See also
[edit]References
[edit]- 1 2 "The Macerich Company 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 28, 2025.
- 1 2 "Prideful Mall Giant Macerich Burns a Hole in Canadian Teachers' Pension Investor - SWFI". www.swfinstitute.org. Retrieved April 21, 2020.
- ↑ "COMPANY NEWS; MACERICH STOCK RISES SLIGHTLY IN DEBUT". The New York Times. March 11, 1994. ISSN 0362-4331. Retrieved August 12, 2026.
- ↑ Padgett, Mike (May 31, 2002). "Westcor sold for $1.5B". American City Business Journals.
- ↑ Smith, Ray A. (December 24, 2004). "Macerich to Acquire Wilmorite Properties In $1.45 Billion Deal". The Wall Street Journal.
- ↑ "Investing in Macerich: a Must-Know Company Overview". Market Realist. October 15, 2015. Retrieved April 21, 2020.
- ↑ Stahl, George (April 1, 2015). "Macerich Rejects Simon Property's $16.8 Billion Takeover Bid". The Wall Street Journal.
- ↑ Gara, Antoine (April 1, 2015). "Simon Property Withdraws $95.50 A Share Macerich Takeover Bid". Forbes.
- ↑ "Macerich CEO Jackson Hsieh On the Mall Giant's Turnaround". Commercial Observer. December 2, 2025. Retrieved August 26, 2026.
- ↑ "New President and CEO at Macerich". www.icsc.com. Retrieved August 26, 2026.
- ↑ "Macerich names new CFO". chainstoreage.com. November 6, 2024. Retrieved August 26, 2026.
- ↑ "8-K". www.sec.gov. Retrieved August 26, 2026.
- ↑ Molina, Joshua (January 3, 2023). "Macy's Will Be Out of La Cumbre Plaza by 2028 as Housing Plans Roil Santa Barbara". Noozhawk. Retrieved January 4, 2023.
External links
[edit]- Official website
- Business data for Macerich:
- Macerich
- 1964 establishments in New York (state)
- 1994 initial public offerings
- American companies established in 1964
- Companies based in Santa Monica, California
- Companies listed on the New York Stock Exchange
- Real estate companies established in 1964
- Real estate investment trusts of the United States
- Shopping center management firms