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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported June 14, 1999
(June 2, 1999)
THE MACERICH COMPANY
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(Exact Name of Registrant as Specified in Charter)
Maryland 1-12504 95-4448705
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(State or Other Jurisdiction (Commission IRS Employer
of Incorporation) file Number) Identification No.)
401 Wilshire Boulevard, Suite 700, Santa Monica, CA 90401
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(Address of Principal Executive Offices)
Registrant's telephone number, including area code (310) 394-6000
N/A
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
On June 2, 1999, Macerich Cerritos, LLC, an indirect subsidiary of The Macerich
Company (the "Registrant"), acquired a 100% interest in Los Cerritos Center from
Westfield America, Inc. (the "Seller"), through an asset sale. Los Cerritos
Center is a 1,306,000 square foot super regional shopping center located in
Cerritos, California. The assets acquired include, among other things, real
property, the buildings and improvements located thereon, certain lease
interests, tangible and intangible personal property and rights related thereto.
The purchase price was approximately $188 million and was determined in good
faith, arms length negotiations between the Registrant and the Seller. The
purchase price was funded with the placement of a $120 million first mortgage on
the property and the proceeds raised through the incurrence of other debt by the
Registrant.
In negotiating the purchase price, the Registrant considered, among other
factors, the historical and projected cash flow of the properties, the nature
and term of existing tenancies and leases, the current operating costs, the
expansion availability, the physical condition of the properties and the terms
and conditions of available financing. The Registrant obtained no independent
appraisals. The Registrant intends to continue operating the shopping center as
currently operated and leasing the space therein to national and local
retailers.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, The
Macerich Company has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized, in the City of Santa Monica, State of
California, on June 14, 1999.
THE MACERICH COMPANY
By: /s/Thomas O'Hern
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Thomas O'Hern
Executive Vice President and
Chief Financial Officer
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, The
Macerich Company has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized, in the City of Santa Monica, State of
California, on June 14, 1999.
THE MACERICH COMPANY
By: ________________________
Thomas O'Hern
Executive Vice President and
Chief Financial Officer
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