The Macerich Company (MAC) reported stronger leasing activity but recorded a quarterly operating loss largely driven by asset write-downs and other non-cash items. Leasing revenue for the three months ended June 30, 2025 rose to $232,725 from $197,961 a year earlier, helping total revenues increase to $249,793 versus $215,521. Despite higher revenues, the company reported a net loss attributable to the company of $(40,905) for the quarter and $(91,029) for the six months, reflecting impairment charges and losses on dispositions.
Balance sheet and liquidity highlights include total assets of $8,729,251, cash and restricted cash of $225,473, and mortgage notes payable of $5,229,832. The company completed acquisitions and consolidation activity (including prior-period PPR portfolio and 2025 Crabtree Mall acquisition) and arranged significant financings such as a $340,000 loan on Washington Square, while Santa Monica Place remains in loan default and under a court-appointed receiver pending disposition.
The Macerich Company (MAC) filed a Form 8-K reporting that on August 11, 2025 it posted an "Earnings Results & Supplemental Information" document with financial and operating information for the three and six months ended June 30, 2025. The supplement is furnished as Exhibit 99.1 and the filing also includes an Inline XBRL cover page as Exhibit 104. The company states the exhibit is furnished under Items 2.02 and 7.01 and explicitly notes it is not "filed" with the SEC or incorporated by reference into other filings. The report is signed by CFO Daniel Swanstrom.
The Macerich Company (NYSE: MAC) has announced the acquisition of Crabtree Mall in Raleigh, NC for $290 million. The Class A retail property encompasses approximately 1.3 million square feet of space.
Key transaction details:
- Purchase funded through cash on hand and $100 million in borrowings from revolving credit facility
- Transaction completed on June 24, 2025
- Company released investor presentation and press release regarding the acquisition
The filing includes disclosure of investor materials made available on the company's website (investing.macerich.com) and confirms that the information provided is "furnished" rather than "filed" under Securities Exchange Act requirements. This strategic acquisition represents a significant expansion of Macerich's retail portfolio in the North Carolina market.