The Macerich Company announces tax treatment for dividend distributions taxable in 2016

SANTA MONICA, Calif., 2017-Jan-11 — /EPR Retail News/ — The Macerich Company (NYSE: MAC) today (Jan. 9, 2017) announced the tax treatment for dividend distributions taxable in 2016 on its Common Stock.

During the calendar year ended December 31, 2016 Macerich paid dividends of $4.75 including a $2.00 special dividend to shareholders of record as of November 12, 2015 which was paid on January 6, 2016. Pursuant to relevant U.S. tax rules, as shown in the table below, a portion of this dividend in the amount of $0.21 was treated as having been paid by Macerich on December 31, 2015 and received by each shareholder of record as of November 12, 2015 on December 31, 2015.

Macerich hereby designates $3.60 of its 2016 dividends as “capital gain dividends”.

The 2016 dividends are classified for income tax purposes as follows for The Macerich Company, Common Stock, CUSIP # 554382101:

Record Date Payable Date Total Distribution per Share Portion of 2016 Dividend Attributable to 2015 2016 Taxable Ordinary Dividends 2016 Total Capital Gain Distribution
11/12/2015 01/06/2016 $2.00 $0.21 $0.37 $1.42
02/19/2016 03/04/2016 $0.68 $0.00 $0.14 $0.54
05/05/2016 06/03/2016 $0.68 $0.00 $0.14 $0.54
08/19/2016 09/08/2016 $0.68 $0.00 $0.14 $0.54
11/11/2016 12/02/2016 $0.71 $0.00 $0.15 $0.56

Macerich, an S&P 500 company, 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.

Macerich currently owns 56 million square feet of real estate consisting primarily of interests in 50 regional shopping centers. Macerich specializes in successful retail properties in many of the country’s most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona, Chicago and the Metro New York to Washington, DC corridor. Additional information about Macerich can be obtained from the Company’s website at www.macerich.com.

Contact:
Jean Wood
Vice President
Investor Relations
424-229-3366

John Perry
Senior Vice President
Investor Relations
424-229-3345

Thomas O’Hern
Senior Executive Vice President and Chief Financial Officer
(310) 394-6000

SOURCE: Macerich

Taubman and The Macerich Company announce the appointment of Meredith Keeler as general manager of Country Club Plaza

KANSAS CITY, MO, 2016-Mar-02 — /EPR Retail News/ — Shopping center marketing and management veteran Meredith Keeler has been named general manager of Country Club Plaza, a marquee retail and office property in Kansas City recently acquired by Taubman and The Macerich Company. In this role, Keeler is responsible for operations, office, retailer and community relations, as well as marketing for the shopping center.

A long-time Taubman employee, Keeler brings nearly 20 years of experience to the position. Most recently, she served as general manager of Stamford Town Center in Stamford, Conn. She also was the director of marketing for all Taubman centers, and spent five years as marketing and sponsorship director for Northlake Mall in Charlotte, N.C. In recent years, she has helped execute grand openings for several Taubman properties includingCity Creek Center and The Mall of San Juan.

“There’s a vibrant energy in Kansas City and I’m thrilled to be part of the community’s unique history and charm,” said Keeler. “Country Club Plaza is incredibly iconic and I look forward to delivering a truly unique shopping and dining experience to both local residents and visitors.”

Prior to joining Taubman in 2004, Keeler held various marketing and sales positions at Carolina Place Mall in Pineville, N.C., as well as Racing Champions South in Charlotte, N.C.

Keeler graduated Magna cum Laude with honors from the University of North Carolina at Charlotte, where she earned a dual bachelor’s degree in communications and English. She is a member of the International Council of Shopping Centers and recently served on the Stamford Mayor’s Economic Development Task Force, as well as on the executive board of the Stamford Downtown Special Services District.

About Country Club Plaza
Originally constructed in 1922, Country Club Plaza is an iconic, 15-block, 1.3 million square foot mixed-use retail and office property located in the heart of Kansas City. The retail portion of the property includes 804,000 square feet of GLA featuring 45 unique-to-market tenants, with key retailers such as Apple, H&M, Tesla and Lululemon, as well as a dynamic mix of restaurants, including The Capital Grille and The Cheesecake Factory. The 468,000 square foot office portion of the property is comprised of the ten-story Valencia tower, which serves as the worldwide headquarters of Lockton Companies, and additional office space located above the ground-level retail.

About Taubman
Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 24 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman’s U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Taubman is currently developing four properties in the U.S. and Asia totaling 4.1 million square feet. Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong.

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Taubman Centers, Inc. and The Macerich Company announce the acquisition of Country Club Plaza from Highwoods Properties, Inc.

BLOOMFIELD HILLS, Mich., 2016-Mar-02 — /EPR Retail News/ — Taubman Centers, Inc. (NYSE: TCO) and The Macerich Company (NYSE: MAC) today announced the completion of the purchase of Country Club Plaza (Kansas City, Mo.) from Highwoods Properties, Inc. (NYSE: HIW).

Consideration for the mixed-use retail and office property was $660 million cash, excluding transaction costs. Taubman and Macerich each own a 50% interest in the center.

About Country Club Plaza
Originally constructed in 1922, Country Club Plaza is an iconic, 15-block, 1.3 million square foot mixed-use retail and office property located in the heart of Kansas City. The retail portion of the property includes 804,000 square feet of GLA featuring 45 unique-to-market tenants, with key retailers such as Apple, H&M, Tesla and Lululemon, as well as a dynamic mix of restaurants, including The Capital Grille and The Cheesecake Factory. The 468,000 square foot office portion of the property is comprised of the ten-story Valencia tower, which serves as the worldwide headquarters of Lockton Companies, and additional office space located above the ground-level retail.

About Macerich
Macerich, an S&P 500 company, 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.

Macerich currently owns 55 million square feet of real estate consisting primarily of interests in 50 regional shopping centers. Macerich specializes in successful retail properties in many of the country’s most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona, Chicago and the Metro New York to Washington, D.C. corridor. Additional information about Macerich can be obtained from Macerich’s website:www.macerich.com.

About Taubman
Taubman Centers is an S&P MidCap 400 real estate investment trust engaged in the ownership, management and/or leasing of 24 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman’s U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Taubman is currently developing four properties in the U.S. and Asia totaling 4.1 million square feet. Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong. www.taubman.com.

For ease of use, references in this press release to “Taubman Centers,” “Taubman” or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself or the named operating platform.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management’s current views with respect to future events and financial performance. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks and uncertainties.You should review both companies’ filings with the Securities and Exchange Commission, including “Risk Factors” in its most recent Annual Report on Form 10-K and subsequent quarterly reports, for a discussion of such risks and uncertainties.

Source: Taubman Centers, Inc.

For Taubman:

Investors, Ryan Hurren 248-258-7232, rhurren@taubman.com

Media, Maria Mainville 248-258-7469, mmainville@taubman.com

For Macerich:

Investors, John Perry 424-229-3345, john.perry@macerich.com

Media, Karen Maurer 602-708-6311, karen.maurer@macerich.com

Taubman Centers, Inc. and The Macerich Company to purchase Country Club Plaza from Highwoods Properties, Inc.

BLOOMFIELD HILLS, Mich., 2016-1-5 — /EPR Retail News/ — Taubman Centers, Inc. (NYSE: TCO) and The Macerich Company (NYSE: MAC) today announced an agreement to purchase Country Club Plaza (Kansas City, Mo.) fromHighwoods Properties, Inc. (NYSE: HIW).

The purchase price for the mixed-use retail and office property is$660 million cash, excluding transaction costs. Taubman andMacerich will each have a 50% interest in the center, which will be jointly managed by both companies. Concurrent with or shortly after closing, a long-term, fixed-rate loan for 50-60% of the purchase price is expected to be placed on the asset.

“Taubman and Macerich are bringing our collective expertise together to continue to ensure the long-term growth and success of the iconic Country Club Plaza,” said Robert S. Taubman, chairman, president, and chief executive officer of Taubman Centers. “This purchase is consistent with our strategy to own high quality, dominant assets in great markets.”

”This investment represents the latest example of Macerich’s continuing strategy of recycling capital out of slower-growth assets, including Panorama Mall which we recently sold for $100 million, into truly irreplaceable, market-dominant centers with stronger growth prospects,” said Arthur Coppola, chairman and chief executive officer ofMacerich. “Together with Taubman, we see opportunities to expand the market reach of the Plaza as well as the potential for further retail densification of this timeless asset.”

The transaction has been approved by the Boards of Directors of Taubman and Macerich. It is subject to usual and customary closing conditions and is expected to close in the first quarter of 2016.

About Country Club Plaza
Originally constructed in 1922, Country Club Plaza is an iconic, 15-block, 1.3 million square foot mixed-use retail and office property located in the heart of Kansas City. The retail portion of the property includes 804,000 square feet of GLA featuring 45 unique-to-market tenants, with key retailers such as Apple, H&M, Tesla and Lululemon, as well as a dynamic mix of restaurants, including The Capital Grille and The Cheesecake Factory. The 468,000 square foot office portion of the property is comprised of the ten-story Valencia tower, which serves as the worldwide headquarters of Lockton Companies, and additional office space located above the ground-level retail.

About Macerich
Macerich, an S&P 500 company, 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.

Macerich currently owns 55 million square feet of real estate consisting primarily of interests in 50 regional shopping centers. Macerich specializes in successful retail properties in many of the country’s most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona, Chicago and the Metro New York to Washington, D.C. corridor. Additional information about Macerich can be obtained from Macerich’s website:www.macerich.com.

About Taubman
Taubman Centers is an S&P MidCap 400 real estate investment trust engaged in the ownership, management and/or leasing of 23 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman’s U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Taubman is currently developing four properties in the U.S. and Asia totaling 4.1 million square feet. Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong. www.taubman.com.

For ease of use, references in this press release to “Taubman Centers,” “Taubman” or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself or the named operating platform.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management’s current views with respect to future events and financial performance. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks and uncertainties.You should review both companies’ filings with the Securities and Exchange Commission, including “Risk Factors” in its most recent Annual Report on Form 10-K and subsequent quarterly reports, for a discussion of such risks and uncertainties.

Source: Taubman Centers, Inc.

For Taubman:

Investors, Ryan Hurren 248-258-7232, rhurren@taubman.com

Media, Maria Mainville 248-258-7469, mmainville@taubman.com

or

For Macerich:

Investors, John Perry 424-229-3345, john.perry@macerich.com

Media, Karen Maurer 602-708-6311, karen.maurer@macerich.com

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Country Club Plaza, Kansas City, Mo. (Photo: Business Wire)

Country Club Plaza, Kansas City, Mo. (Photo: Business Wire)

The Macerich Company closed on the first of three joint ventures; Special dividends declared

SANTA MONICA, Calif., 2015-11-5 — /EPR Retail News/ — The Macerich Company (NYSE: MAC) today announced it has closed on the first of three joint ventures.  Macerich contributed interests in Lakewood Center, Los Cerritos Center, South Plains Mall and Washington Square.  Cash proceeds to Macerich total $1.5 billion, including $964 million in excess loan proceeds to the Company.  GIC will have a 40% interest in the malls.  The assets included in this joint venture are:

Property Location 9/30/2015
Sales PSF
9/30/2015
Occupancy
Partner %
Interest
Lakewood Center Lakewood, CA $463 96.0% 40.0%
Los Cerritos Center Cerritos, CA $773 96.7% 40.0%
South Plains Mall Lubbock, TX $472 93.0% 40.0%
Washington Square Portland, OR $1,133 97.0% 40.0%

In addition in January, 2016, the Company is planning to close the previously announced joint ventures including a second joint venture with GIC on Arrowhead Towne Center and on a joint venture with Heitman on Deptford Mall in Deptford, New Jersey, FlatIron Crossing in Broomfield, Colorado and Twenty Ninth Street center in Boulder, Colorado.

Special Dividends Declared
On October 30, 2015 the Board of Directors of The Macerich Company declared two special dividends each of $2.00 per share of common stock.  The first dividend is payable on December 8, 2015 to stockholders of record at the close of business on November 12, 2015.  The second dividend is payable on January 6, 2016 to stockholders of record at the close of business on November 12, 2015.

Macerich, an S&P 500 company, 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.

Macerich currently owns 55 million square feet of real estate consisting primarily of interests in 51 regional shopping centers. Macerichspecializes in successful retail properties in many of the country’s most attractive, densely populated markets with significant presence in thePacific Rim, Arizona, Chicago, and the New York Metro area to Washington DC corridor. Additional information about Macerich can be obtained from the Company’s website at www.macerich.com.

GIC is a leading global investment firm with well over US$100 billion in assets under management. Established in 1981, the firm managesSingapore’s foreign reserves and is uniquely positioned for long-term and flexible investments across a wide range of asset classes, including real estate, private equity, equities and fixed income. GIC has investments in over 40 countries and has been investing in emerging markets for more than two decades. Headquartered in Singapore, GIC employs over 1,200 people across 10 offices in key financial cities worldwide. For more information on GIC, please visit www.gic.com.sg.

Founded in 1966, Heitman LLC is a global real estate investment management firm with over $34.5 billion in assets. Heitman invests in commercial real estate directly or in publicly traded real estate securities. Heitman serves a global client base with clients from North American, European, Middle Eastern, and Asia-Pacific institutions, pension plans, foundations and corporations, and individual investors. Headquartered inChicago, with offices in Los Angeles, London, Luxembourg, Dusseldorf, Munich, Warsaw, Hong Kong, Tokyo, and Melbourne.  Additional information about Heitman can be obtained from their website at www.heitman.com.

Note:  This release contains statements that constitute forward-looking statements which can be identified by the use of words, such as  “expects,” “anticipates,” “assumes,” “projects,” “estimated” and “scheduled” and similar expressions that do not relate to historical matters. Stockholders are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to vary materially from those anticipated, expected or projected.  Such factors include, among others, general industry, as well as national, regional and local economic and business conditions, which will, among other things, affect demand for retail space or retail goods, availability and creditworthiness of current and prospective tenants, anchor or tenant bankruptcies, closures, mergers or consolidations, lease rates, terms and payments, interest rate fluctuations, availability, terms and cost of financing and operating expenses; adverse changes in the real estate markets including, among other things, competition from other companies, retail formats and technology, risks of real estate development and redevelopment, acquisitions and dispositions; the liquidity of real estate investments, governmental actions and initiatives (including legislative and regulatory changes); environmental and safety requirements; and terrorist activities or other acts of violence which could adversely affect all of the above factors.  The reader is directed to the Company’s various filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2014, for a discussion of such risks and uncertainties, which discussion is incorporated herein by reference. The Company does not intend, and undertakes no obligation, to update any forward-looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events unless required by law to do so.

SOURCE The Macerich Company

Jean Wood, 310-394-6000

The Macerich Company declared 4.4% increase in its quarterly cash dividend to $.68 per share of common stock

SANTA MONICA, Calif., 2015-10-27 — /EPR Retail News/ — The Board of Directors of The Macerich Company (NYSE: MAC) declared a 4.4% increase in its quarterly cash dividend to $.68 per share of common stock. The dividend is payable on December 4, 2015 to stockholders of record at the close of business on November 12, 2015.

Macerich
Macerich, an S&P 500 company, 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.

Macerich currently owns 55 million square feet of real estate consisting primarily of interests in 51 regional shopping centers. Macerich specializes in successful retail properties in many of the country’s most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona, Chicago and the Metro New York to Washington, DC corridor. Additional information about Macerich can be obtained from the Company’s website at www.macerich.com.

SOURCE Macerich Company

Thomas O’Hern, Senior Executive Vice President, Chief Financial Officer and Treasurer, (310) 394-6000