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SEC Filings



8-K
MACERICH CO filed this Form 8-K on 08/01/2018
Entire Document
 


The Macerich Company

Supplemental Financial and Operating Information (Unaudited)

Outstanding Debt by Maturity Date

 

     As of June 30, 2018  

Center/Entity (dollars in thousands)

   Maturity Date      Effective
Interest
Rate (a)
    Fixed     Floating     Total Debt
Balance (a)
 

II. Unconsolidated Assets (At Company’s pro rata share):

 

     

FlatIron Crossing (51%)

     01/05/21        2.81   $ 123,836     $ —       $ 123,836  

Washington Square Mall (60%)

     11/01/22        3.65     330,000       —         330,000  

Deptford Mall (51%)

     04/03/23        3.55     94,231       —         94,231  

Scottsdale Fashion Square (50%)

     04/03/23        3.02     232,605       —         232,605  

Tysons Corner Center (50%)

     01/01/24        4.13     386,313       —         386,313  

South Plains Mall (60%)

     11/06/25        4.22     120,000       —         120,000  

Twenty Ninth Street (51%)

     02/06/26        4.10     76,500       —         76,500  

Country Club Plaza (50%)

     04/01/26        3.88     159,632       —         159,632  

Lakewood Center (60%)

     06/01/26        4.15     220,345       —         220,345  

Kierland Commons (50%)

     04/01/27        3.98     109,974       —         109,974  

Los Cerritos Center (60%)

     11/01/27        4.00     315,000       —         315,000  

Arrowhead Towne Center (60%)

     02/01/28        4.05     240,000       —         240,000  

North Bridge, The Shops at (50%)

     06/01/28        3.71     186,963       —         186,963  

Corte Madera, The Village at (50.1%)

     09/01/28        3.53     112,370       —         112,370  

Broadway Plaza (50%)

     04/01/30        4.19     224,395       —         224,395  

West Acres (19%)

     03/01/32        4.61     14,783       —         14,783  
     

 

 

   

 

 

   

 

 

   

 

 

 

Total Fixed Rate Debt for Unconsolidated Assets

        3.84   $ 2,946,947     $ —       $ 2,946,947  
     

 

 

   

 

 

   

 

 

   

 

 

 

Boulevard Shops (50%)

     12/16/18        3.87   $ —       $ 9,243     $ 9,243  

Estrella Falls, The Market at (39.9%) (g)

     02/05/20        4.02     —         9,614       9,614  

Atlas Park (50%) (f)

     10/28/20        4.05     —         26,402       26,402  

Pacific Premier Retail LLC (60%)

     10/31/22        3.18     —         60,000       60,000  

Fashion District Philadelphia (50%)

     01/22/23        3.96     —         123,823       123,823  
     

 

 

   

 

 

   

 

 

   

 

 

 

Total Floating Rate Debt for Unconsolidated Assets

        3.76   $ —       $ 229,082     $ 229,082  
     

 

 

   

 

 

   

 

 

   

 

 

 

Total Debt for Unconsolidated Assets

        3.83   $ 2,946,947     $ 229,082     $ 3,176,029  
     

 

 

   

 

 

   

 

 

   

 

 

 

Total Debt

        3.84   $ 6,138,711     $ 1,581,469     $ 7,720,180  
     

 

 

   

 

 

   

 

 

   

 

 

 

Percentage to Total

          79.52     20.48     100.00

 

(a) The debt balances include the unamortized debt premiums/discounts and loan finance costs. Debt premiums/discounts represent the excess of the fair value of debt over the principal value of debt assumed in various acquisitions. Debt premiums/discounts and loan finance costs are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The annual interest rate in the table represents the effective interest rate, including the debt premiums/discounts and loan finance costs.
(b) This property is owned by a consolidated joint venture. The above debt balance represents the Company’s pro rata share of 84.9%.
(c) This property is owned by a consolidated joint venture. The above debt balance represents the Company’s pro rata share of 50.1%.
(d) This property is owned by a consolidated joint venture. The above debt balance represents the Company’s pro rata share of 50.0%.
(e) This property is owned by a consolidated joint venture. The above debt balance represents the Company’s pro rata share of 25.0%.
(f) The maturity date assumes that all available extension options are fully exercised and that the Company and/or its affiliates do not opt to refinance the debt prior to these dates.
(g) On July 6, 2018, the loan was paid off in connection with the sale of the underlying property.

 

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