MACERICH COMPANY (THE) BTC Capital Management Inc holding in Q2 2018 Form 13-F

Macerich operates as a real estate investment trust (REIT) that focuses on acquiring, developing, managing, and leasing regional and community/power shopping centers throughout the United States. It is the sole general partner and majority owner of The Macerich Partnership, L.P., which holds interests in 40 regional retail centers, two community/power shopping centers, and one redevelopment property, totaling about 43 million square feet of gross leasable area.

Macerich generates revenue primarily through leasing space to tenants in its shopping centers. The company maintains a diverse tenant mix, with a significant portion of its revenue (approximately 73%) coming from smaller retail stores and the remaining 27% from larger anchor tenants. Key tenants include major retailers such as Victoria's Secret, Foot Locker, and Dick's Sporting Goods. Macerich's operations are structured to include in-house expertise in acquisition, management, leasing, and redevelopment, allowing it to effectively manage its properties and tenant relationships.

The company's business performance is directly impacted by factors such as tenant mix, occupancy rates, and competition from other retail formats. Macerich continuously evaluates its portfolio to optimize tenant performance and manage occupancy costs effectively. Recent financial activities include acquisitions and dispositions of properties, refinancing loans, and repaying debts, which are crucial for maintaining its operational stability and growth.