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Macerich Closes Five Loans Totaling $1.3B

Macerich Closes Five Loans Totaling $1.3B

The Macerich Co. closed five loans with the company’s pro rata share totaling more than $1.3 billion. The loans feature an average interest rate of 3.33 percent and an average maturity of 8.2 years.

The transactions extend the loans’ average life to 5.5 years from 3.2 years previously.

The transactions involve loans on Kings Plaza in Brooklyn, N.Y., Deptford Mall in Deptford, N.J., Queens Center in Queens, N.Y., Santa Monica Place in Santa Monica, Calif. and Kierland Commons in Scottsdale, Ariz.

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