Macerich Co at REITWeek: NAREIT's Investor Forum Transcript

Feb 10, 2024

Jun 05, 2019 / 06:45PM GMT
James William Sullivan - BTIG, LLC, Research Division - MD

Thank you for coming to the Macerich presentation. My name is Jim Sullivan. I'm the Senior REIT analyst at BTIG. And we have on the podium CEO Tom O'Hern; we have CFO Scott Kingsmore; and then EVP, Head of Leasing, Doug Healey. So without further ado, I'm going to ask Tom to give a brief summary of the company's statistical facts.

Thomas E. O'Hern - Macerich Company - CEO & Director

Thanks, Jim. Macerich is a domestic pure-play A-quality regional mall company. We have 48 malls, approximately $14 billion total market cap, sales per foot of $750 a foot and economic sales per foot of $869. Occupancy stands at 95%. Our major geographic focus is in the Northeast, California and Arizona. We have a very robust redevelopment and development pipeline of close to $0.75 billion over the next 3 years. We plan densification of many of our centers, including mixed-use such as co-working, multi-family, entertainment and hotels.

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