secwatch.observer — SEC 8-K summary
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Issuer:     MACERICH CO (MAC)
CIK:        0000912242
Form:       8-K
Filed at:   2024-11-06T23:59:59+00:00
Accession:  0000912242-24-000128
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Macerich Q3 net loss narrows to $108M; FFO $0.38/sh, same-center NOI +1.9%
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- Q3 net loss $108.2M ($0.50/sh) vs $262.5M loss ($1.22/sh) in Q3 2023.
- FFO (adjusted) $86.0M ($0.38/sh) vs $100.6M ($0.45/sh) a year ago; same-center NOI up 1.9% YoY.
- Portfolio occupancy 93.7% (+30bps YoY); base rent re-leasing spreads +11.9% for TTM.
- Acquired partner's 40% interest in PPRT for $122M (7.4% cap); sold 50% of Biltmore for $110M (6.5% cap).
- Refinanced Queens Center with $525M loan at 5.37% fixed through Nov 2029; under contract to sell The Oaks for $157M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/912242/000091224224000128/0000912242-24-000128-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/912242/000091224224000128/mac-20241106.htm
  HTML page:      https://secwatch.observer/filing/0000912242-24-000128

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer