Macerich close to sale of retail-center stakes

06/10/2009 | Wall Street Journal, The

Retail REIT Macerich hopes to raise between $350 million and $600 million in the coming months from property deals to pay down debt. The REIT aims to sell part ownership of several properties, while retaining some ownership interest for itself. The strategy depends upon Macerich finding buyers willing to accept capitalization rates on their partial stakes in the 7% to 8.5% range.

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Wall Street Journal, The

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