SANTA MONICA, Calif., April 1, 2010 /PRNewswire via COMTEX/ --The Macerich Company ("Macerich") (NYSE: MAC) announced today the successful completion of a $105 million refinancing of the South Plains Mall located in Lubbock, Texas. The financing was done with The Royal Bank of Scotland. The loan carries a maximum interest rate of 6.25%. The prior loan of $54 million, bearing interest at 9.49%, was paid off.
Macerich is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. The Company is the sole general partner and owns an 89% ownership interest in The Macerich Partnership, L.P. Macerich now owns approximately 75 million square feet of gross leasable area consisting primarily of interests in 72 regional malls.
SOURCE The Macerich Company