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Macerich Lines up $1 Billion in Loan Financings

Macerich Co., a real estate investment trust, said Tuesday it closed five major loan financings and committed to a sixth financing for a total of $1.05 billion.

The five transactions that closed totaled $895 million and generated excess proceeds above prior loans of $576 million, which were used to pay down Macerich's line of credit.

Macerich owns about 77 million square feet of leasable area, mostly consisting of interests in 72 regional malls.

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