Macerich Acquires Remaining 40% Of Arrowhead Towne Center And South Plains Mall For $36.5M Plus Debt From Joint Venture Partner
Portfolio Pulse from Benzinga Newsdesk
Macerich has acquired the remaining 40% of Arrowhead Towne Center and South Plains Mall for $36.5 million plus debt from its joint venture partner.
May 16, 2024 | 1:30 pm
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POSITIVE IMPACT
Macerich has acquired the remaining 40% of Arrowhead Towne Center and South Plains Mall for $36.5 million plus debt from its joint venture partner. This acquisition could strengthen Macerich's asset portfolio and potentially improve its revenue streams.
The acquisition of the remaining 40% of these properties indicates a strategic move to consolidate ownership, which could lead to better management and increased revenue. This is likely to have a positive short-term impact on Macerich's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100