Monday, March 16, 2015

Mall-acquisition feud has major implications for Arizona

Arizona is a top potential prize in the proposed $22.4 billion purchase of the Macerich Co. by rival mall operator Simon Property Group — a transaction that could set in motion a musical-chairs shuffle of some of the state's most prominent shopping centers among three companies.

Macerich owns more malls and office parks in Arizona than in any other state, including marquee properties such as Scottsdale Fashion Square, Arrowhead Towne Center, Chandler Fashion Center and Biltmore Fashion Park. By contrast, Simon, the industry's biggest player, has two shopping centers in Arizona, both in the southeast Valley, with a third under construction in Tucson.

Read more...  http://www.azcentral.com/story/money/business/consumer/2015/03/15/mall-acquisition-feud-major-implications-arizona/24805705/

Reuters: Financial Services and Real Estate

Voice of Housing

NuWire Investor: RealEstateInvestment

REC News Center

Archive

Recent Comments