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Macerich Co Announces Closing Of Acquisition Of Green Acres Mall From Vornado Realty Trust's Subsidiary


Friday, 25 Jan 2013 06:00am EST 

Macerich Co announced the closing of the acquisition of Green Acres Mall. Green Acres Mall is a 1.8 million square foot regional mall located in Valley Stream, New York. Green Acres is anchored by Macy's, Macy's Men's, Sears, Kohl's, jcpenney, BJ's Wholesale Club and Walmart. Green Acres was acquired from a subsidiary of Vornado Realty Trust. The purchase price was $500 million. The acquisition was funded with a $325 million, eight-year, fixed rate loan. The loan has a fixed interest rate of 3.43%. The balance of the purchase price was funded from cash on hand, and from the Company's line of credit. 

Company Quote

65.2
-0.19 -0.29%
27 Aug 2014