RE Forum Features Manatt-led $2.3B Macerich Deal

2015's Deals & Dealmakers
– Real Estate Forum

Real Estate Forum recognized Manatt's Tom Muller, co-chair of the firm's Real Estate and Land Use practice, and partner Anita Sabine in its annual Deals and Dealmakers list for their representation of Macerich in its sale of minority stakes in select shopping centers for $2.3 billion.

Each year, Real Estate Forum profiles the deals and dealmakers that carefully and successfully coordinated all sides of a complex transaction, from underwriting to financing to closing the deal. Muller and Sabine provided legal counsel to Macerich, an S&P 500 real estate investment trust, in its sale of minority stakes in eight of its U.S. malls for $2.3 billion to Singapore's GIC Pte. Ltd and property investor Heitman LLC. The highly strategic deal was announced in September 2015 and gives Macerich the liquidity to execute several key initiatives, including share buybacks, debt reduction and a special dividend.

Based in Santa Monica, California, Macerich 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. It currently owns 55 million square feet of real estate consisting primarily of interests in 51 regional shopping centers.

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