DOCSLIB.ORG

Third Quarter 2012 George Blankenship

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Third Quarter 2012 George Blankenship George Blankenship, Tesla’s VP of Worldwide Sales & Ownership Experience Volume 45 | No. 2 | Third Quarter 2012 HAPPENINGS INSIDE: Tysons Corner Center Vision | Retailer Spotlight: Interview with Tesla’s George Blankenship | Where the Stores Are Macerich Happenings | Third Quarter 2012 With our long-term partner, the Alaska Permanent Fund, we are redefining the position of Tysons Corner Center as a remarkably productive asset for many years to come. –Art Coppola, Chairman & CEO Macerich’s continued momentum at Tysons Corner Center is just one facet of the robust picture this summer for our Center Corner Tysons company and our industry. With solid fundamentals across our operations, including very strong sales and leasing trends, Macerich is able to act on a select set of big opportunities – This summer’s big news particularly our new, under-construction Fashion Outlets of – now that Washington, Chicago in addition to Tysons’ exciting mixed-used expansion. D.C.’s Metrorail Silver Line Our work at Tysons represents a once-in-a-generation is under construction – is opportunity to protect and enhance the value of this that Macerich has built extraordinary retail asset. With key entitlements and transit links now in place, Macerich has built a team of best-in-class a team with best-in-class development specialists in hotel, office and residential to help development specialists in realize our vision for a dynamic urban hub that elevates our hotel, office and residential to retail jewel. With our long-term partner, the Alaska Permanent Fund, we are redefining the position of Tysons Corner Center transform Tysons into a fully as a remarkably productive asset for many years to come. connected, transit-accessible Our sharp focus on our assets in our best markets – from community where people will Scottsdale to Santa Monica and the San Francisco Bay Area, work, shop, dine and live. from New York to Washington, D.C. and Chicago – sets Macerich apart. We are committed to continually making our Macerich’s vision for what will be one properties even better, especially when it comes to attracting the of the nation’s signature new mixed-use most talked-about retail concepts. Tesla, now open at Scottsdale communities is located in Fairfax County Fashion Square and Washington Square in the greater Portland just outside Washington, D.C., unfolding SMSA, is a terrific example of how our shopping centers always next to Tysons Corner Center and elevating help drive new ideas. one of the country’s top-performing regional malls. A long-standing powerhouse, the Best regards, retail mix draws tens of millions of visitors a year. “We’re acting on a once-in-a-generation opportunity to amplify the success of Art Coppola Tysons Corner Center by capitalizing on our retail magnet, master-planning to ensure the highest levels of quality across the board,” said Art Coppola, Chairman and Macerich Defines Development Team for Tysons Corner Center Chief Executive Officer, Macerich. “With The extraordinary vision for the site has space in Tysons Corner – with a direct valuable entitlements and the transit line in been contemplated by Macerich and long- connection by covered walkway to the new place, now is the time to start building the term investment partner, Alaska Permanent Metro station, just minutes away from infrastructure for the mixed-use future that Fund Corporation, for many years. Since Dulles International Airport and downtown will ensure the dominance of one of our Macerich became involved in 2005 with Washington, D.C. signature retail assets for decades to come.” the acquisition of Wilmorite, the two organizations have pursued a path of high- Tysons Corner Center mall attracts tens of The best-in-class, third-party development quality enhancements. millions of shoppers each year from around agreements align Macerich with hotel the world. At 2.2 million square feet, the specialist Woodbine Development Macerich as Master shopping center offers 300+ specialty shops Corporation, multifamily development Developer and restaurants, as well as a 16-screen movie company Kettler, and Hines, which will theater with IMAX. With Bloomingdale’s, manage the office development. Together Macerich is the master developer of the Lord & Taylor, Macy’s and Nordstrom, the firms will bring a high-end hotel, luxury Tysons Corner Center expansion, taking its Tysons Corner Center delivers the largest apartments, and a trophy-class office tower famed suburban real estate and maximizing concentration of retail on the East Coast within steps of one of the nation’s premier its value by transforming the property outside of New York City. Among its many shopping destinations, Tysons Corner into a multi-dimensional destination. The retail firsts are the first-ever Apple store and Center. expansion adds 1.4 million square feet of the very first Cusp from Neiman Marcus and office, residential, hotel and retail space. Microsoft’s first East Coast location. “When you look at one of the very best shopping centers in the country and then Connecting the properties will be a first-of- Taking the unusual role for a retail developer the opportunity comes along to be part of its-kind elevated outdoor plaza measuring as both owner and master developer of a a visionary, vertical development that will over an acre and a half. The plaza will act as mixed-use project of this size, Macerich bring 24/7 activity to this ideally situated a retail-friendly center court for the regional is determined to ensure the high-quality property – it’s a homerun,” said John mall, located directly outside its second level expression of every element of the Harrison, VP Development, Macerich. doors, providing an attractive and activated expansion. “We have a true vision for this “People already know and love Tysons shared venue for activities and events, such community and for this valuable property, Corner Center, it’s an established draw as a concert series, festivals, and seasonal which is why we want to own and fully guide pulling millions of shoppers in this part shows. the development of every aspect, including of the country. So making Tysons the the hotel, office, residential Further differentiating itself from the centerpiece of a dynamic new development, components and the outdoor competition is the fact that this will be ‘beyond the mall,’ if you will, is brilliant the first commercial hub – and only office Continued on pg. 4 planning.” 3 Macerich Happenings | Third Quarter 2012 Tysons Corner Center Corner Tysons Project Website Center Corner Tysons www.TysonsFuture.com Continued from pg. 3 elements at Tysons, of course with the help DEVELOPMENT TEAM of outstanding development specialists in all THIRD PARTY DEVELOPERS: KEY PROJECTS disciplines,” said Coppola. Hines, global development Dallas & Houston Gallerias; 101 North Macerich is working to achieve the experience of management company Wacker in Chicago; City Center, DC a seamless, world-class destination, where guests, Metropolitan Park in Arlington, Va.; Kettler, Inc. shoppers, residents and office workers can enjoy Midtown Bethesda North, Bethesda, Md. the highest quality amenities in a fully integrated, Hyatt Regency Dallas at Reunion Dallas; thoughtfully developed and well-managed setting. Woodbine Development Kierland Commons and Westin Hotel at Corporation Kierland Currently in pre-leasing is Tysons Tower, the 22-floor, trophy office tower that will become the tallest office ARCHITECTS/DESIGNERS: KEY PROJECTS building in Northern Virginia and offer panoramic Mirdif City Center in Dubai; City Crossing, RTKL, a global design firm views of the D.C. Metro area. The tower will include Shenzhen, China; LA Live four levels of parking, a restaurant, a sweeping two- Gensler, a global architecture, Ritz Carlton Tower, LA Live; PNC Place; story lobby and a fully equipped fitness center. Pre- design and planning firm Shanghai Tower certified by the U.S. Green Building Council for LEED Gold status, the tower incorporates a green roof, floor- Rios Clementi Hale Studios, a Nokia Plaza at LA Live; Grand Park, Los to-ceiling windows and solar shades. “We are currently multi-disciplinary design firm Angeles partnering with CBRE to target professional service 2008 Beijing Olympics Masterplan; Sasaki Associates, Inc., companies and higher-end government contract end Lincoln Memorial Reflecting Pool interdisciplinary landscape architects users, offering not only an ideal location but a superb Restoration collection of amenities,” said Tim Steffan, Senior Vice Shalom Baranes Associates, Archstone CityCenter, D.C.; Cityline at President, Property Management. a Washington, D.C.-based Tenley, D.C.; 22 West, D.C. architectural firm The entire redevelopment, including a series of OFFICE TOWER LEASING: KEY PROJECTS pedestrian walkways and bicycle paths serving the area, will open in 2014, anticipated to follow the CBRE Group, Inc., global Hess Tower in Houston; global advisor to opening of the new Metrorail. commercial real estate services firm HSBC Holdings CHANDLER FASHION EASTLAND MALL NORTHPARK MALL A Look CENTER • Zumiez • Tilly’s • Francesca’s Collections • White House | Black Market • The Art of Shaving • Pandora NORTHRIDGE MALL at What’s • Lush Fresh Handmade • Forever 21 • Zumiez Cosmetics • Soma Intimates FLATIRON CROSSING THE OAKS New • Vera Bradley • Tricked Out Accessories • Young Soles • Pandora Some of the DANBURY FAIR MALL PACIFIC VIEW • Cotton On most recent • Microsoft FREEHOLD RACEWAY MALL • The Art of Shaving • Microsoft • crazy 8 openings across • Lush Fresh Handmade Cosmetics our portfolio • Best Buy Mobile • The Art of Shaving Center, Queens Center, Scottsdale Fashion Square, The Oaks, The Shops “Where the at North Bridge and Washington Square. Stores Are” The look and feel of the new ads are customized and designed for regional Puts Brands resonance. For example, a beach scene and bare feet create the right tone for key properties in Southern Front and California while a tweed coat on a chilly wind-swept day says it all for Center Tysons Corner Center.
Load more

Recommended publications
  • Renovation Last Fall
    Going Places Macerich Annual Report 2006 It’s more than the end result—it’s the journey. At Macerich®, what’s important isn’t just the destination. It’s the bigger picture, the before and after...the path we take to create remarkable places. For retailers, it’s about collaboration and continual reinvestment in our business and theirs. For the communities we serve, it’s about working together to create destinations that reflect their wants and needs. For investors, it’s about long-term value creation stemming from a clear vision. For consumers, it’s about the total experience our destinations deliver. 0 LETTER TO STOCKHOLDERS Letter to Our Stockholders Macerich continued to create significant value in 2006 by elevating our portfolio and building a sizeable return for our stockholders. Total stockholder return for the year was 33.9%, contributing to a three-year total return of 121.5% and a five-year total return of 326.2%. In 2006, the company increased dividends for the 13th consecutive year. As a company that considers its pipeline a tremendous source of strength BoulderTwenty Ninth is a prime Street example is a prime of howexample 2006 of was how indeed 2006 awas remarkable indeed a yearremark of - and growth, Macerich reached an important milestone in 2006 with the buildingable year netof building asset value net for asset Macerich. value for We Macerich. also completed We also the completed redevelop the- re- opening of Twenty Ninth Street in Boulder, Colorado. Not only is this a mentdevelopment of Carmel of CarmelPlaza in Plaza Northern in Northern California, California, another another excellent excellent model of model terrific new asset in an attractive, affluent community—it represents a sig- valueof value creation, creation, where where we we realized realized a significant a significant return return on onour our investment.
    [Show full text]
  • 1851 South Barrington Avenue
    BRENTWOOD SANTA MONICA STONER PARK NEBRASKA AVENUE STONER AVENUE BARRINGTON AVENUE OFFERING MEMORANDUM 1851 SOUTH BARRINGTON AVENUE A premier 4 SLO home or 8 unit multifamily development opportunity located LOS ANGELES, CA 90025 in prime West Los Angeles, CA EXCLUSIVELY LISTED BY: 1 2 3 4 5 EXECUTIVE NEW CONSTRUCTION DEVELOPMENT SALES AREA OVERVIEW JEFF LOUKS SUMMARY RENT SUVEY GUIDELINES COMPARABLES Executive Managing Director Investments Executive Director - National Multihousing Group Tel: (818) 212-2780 Fax: (818) 212-2627 [email protected] License: CA 00908473 BRIAN GROSSMAN Investment Associate Member - National Multihousing Group Tel: (818) 212-2666 Mobile: (818) 292-6197 [email protected] License: CA 0210920 This information has been secured from sources we believe to be reliable, but we make no repre- sentations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for exam- ple purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus & Millichap 2 3 Prime West Los Angeles SAWTELLE Location 1851 SOUTH BARRINGTON AVENUE MISSOURI AVENUE Potential to build 4 Small Lot LOS ANGELES, CA 90025 Homes or 8 Apartment Units 1851 SOUTH BARRINGTON AVENUE LOS ANGELES, CA 90025 Convenient accessibility to local retail and amenities BARRINGTON AVENUE 4 5 1851 S BARRINGTON AVENUE a premier 4 Small Lot Home or 8 unit apartment development in prime West Los Angeles, CA Marcus & Millichap, as exclusive listing agent, is pleased to present 1851 S Barrington Avenue, a premier 4 SLO or up to 8 unit apartment development opportunity in prime West Los Angeles, CA.
    [Show full text]
  • Drool Log in Theaters
    Drool Log in Theaters Holiday moviegoers will have the opportunity to enjoy the Beef Drool Log in the following select movie theaters between November 22nd and December 5th. On-Screen Theater Name City State Zip Code Arapahoe Crossing 16 AURORA Colorado 80016 Bowles Crossing 12 LITTLETON Colorado 80123 Brighton 12 BRIGHTON Colorado 80601 Castle Rock 12 CASTLE ROCK Colorado 80109 Century 16 Bel Mar and XD LAKEWOOD Colorado 80226 Century Aurora and XD AURORA Colorado 80012 Century Boulder BOULDER Colorado 80301 Cherry Creek 8** DENVER Colorado 80206 Cinebarre Boulder 11** LOUISVILLE Colorado 80027 Cinebarre Greenwood Plaza 6** GREENWOOD VILLAGE Colorado 80112 Cinema Latino Aurora AURORA Colorado 80011 Cinemark Fort Collins FORT COLLINS Colorado 80528 Cinemark Greeley Mall GREELEY Colorado 80631 Cinemark Movie Bistro and XD** FORT COLLINS Colorado 80525 Classic Worthington 6 FORT COLLINS Colorado 80526 Colorado Center 9 with IMAX DENVER Colorado 80222 Colorado Mills Stadium 16 with IMAX LAKEWOOD Colorado 80401 Flatiron Crossing 14 BROOMFIELD Colorado 80021 Highlands Ranch 24 HIGHLANDS RANCH Colorado 80129 Isis Theatre ASPEN Colorado 81611 Meadows 12 LONE TREE Colorado 80124 Metrolux 14 Theaters LOVELAND Colorado 80538 Metrolux Dine-In at The Foundry LOVELAND Colorado 80537 Movie Tavern Aurora AURORA Colorado 80013 Movieland 7 CARBONDALE Colorado 81623 Orchard 12 WESTMINSTER Colorado 80023 Pavilions 15 DENVER Colorado 80202 Regal Continental 10 with RPX DENVER Colorado 80237 Regal River Point ENGLEWOOD Colorado 80110 Regal Village at the
    [Show full text]
  • THE MACERICH COMPANY (Exact Name of Registrant As Specified in Charter)
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) May 12, 2020 THE MACERICH COMPANY (Exact Name of Registrant as Specified in Charter) MARYLAND 1-12504 95-4448705 (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 401 Wilshire Boulevard, Suite 700, Santa Monica, California 90401 (Address of Principal Executive Offices) (Zip Code) Registrant’s telephone number, including area code (310) 394-6000 N/A (Former Name or Former Address, if Changed Since Last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Name of each exchange Title of each class Trading symbol(s) on which registered Common stock of The Macerich Company, MAC The New York Stock Exchange $0.01 par value per share Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
    [Show full text]
  • Trophy Properties in the Most Desirable Markets. Uniquely Macerich
    TROPHY PROPERTIES IN THE MOST DESIRABLE MARKETS. UNIQUELY MACERICH. SUSTAINABILITY REPORT 2014 FROM OUR CEO Macerich’s comprehensive commitment to sustainability is both a natural and essential value for our company. Macerich in 2014 was honored to be named the retail Leader in the Light by the National Association of Real Estate Investment Trusts (NAREIT) for our comprehensive sustainability efforts. As well, in 2014 our company earned the Global Real Estate Sustainability Benchmark (GRESB) Green Star, an important measure of sustainability performance for real estate portfolios around the world. To us, these two high-profile designations underscore a strong year of achievements in environmental sustainability across our irreplaceable portfolio of unique and high-performing properties in the country’s top gateway markets. In 2014 we set new and ambitious goals to build on the great strides we have already made in reducing our environmental impacts. Macerich’s 10-by-20 goals call for us to reduce our absolute greenhouse gas (GHG) emissions, energy use, water consumption and waste generation by 10 percent by 2020 (compared to 2013 levels.) In 2014 we quadrupled our clean renewable energy capacity through six new solar projects and one new fuel cell site. By the end of 2015, our company will rank among the top 15 largest commercial solar operations in the United States. For Macerich, solar energy is a very bright spot. We are proud of our industry-leading environmental initiatives, including our participation in voluntary disclosure programs through the CDP (formerly Carbon Disclosure Project). Sharing our performance information and strategies on global peer-to-peer platforms helps us pinpoint new opportunities to heighten our sustainability practices while increasing transparency among all our stakeholders.
    [Show full text]
  • IN the UNITED STATES BANKRUPTCY COURT for the DISTRICT of DELAWARE ------X : in Re: : Chapter 11 : FRANCESCA’S HOLDINGS CORPORATION, : Case No
    Case 20-13076-BLS Doc 472 Filed 02/17/21 Page 1 of 5 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE ------------------------------------------------------------ x : In re: : Chapter 11 : FRANCESCA’S HOLDINGS CORPORATION, : Case No. 20-13076 (BLS) et al.,1 : : Jointly Administered Debtors. : : Re: D.I. 404 ------------------------------------------------------------ x ORDER (I) AUTHORIZING DEBTORS TO (A) REJECT CERTAIN UNEXPIRED LEASES OF NONRESIDENTIAL REAL PROPERTY, (B) ABANDON DE MINIMIS PERSONAL PROPERTY IN CONNECTION THEREWITH, AND (II) GRANTING RELATED RELIEF Pursuant to and in accordance with the Order (I) Approving (A) Procedures for Rejecting Unexpired Leases of Nonresidential Real Property, (B) Abandonment of De Minimis Personal Property in Connection Therewith, and (II) Granting Related Relief [D.I. 255] (the “Lease Rejection Procedures Order”)2 entered in the above-captioned chapter 11 cases; and the Debtors having property filed with this Court and served on the Notice Parties a notice [D.I. 404] (the “Rejection Notice”) of their intent to reject certain unexpired leases specified on Annex A hereto (the “Specified Leases”) in accordance with the terms of the Lease Rejection Procedures Order; and such notice having been adequate and appropriate under the circumstances; and it appearing that no other or further notice need be provided; and no timely objections having been filed to the Rejection Notice; and the Court having found that the relief requested is in the 1 The Debtors in these cases, along with the last four digits of each Debtor’s federal tax identification number, are Francesca’s Holdings Corporation (4704), Francesca’s LLC (2500), Francesca’s Collections, Inc.
    [Show full text]
  • CF - Zo7s-Sy LOS ANGELES, CA 90029 Tel
    ARMEN MAKASJIAN & ASSOCIATES 5111 SANTA MONICA BLVD #205 CF - zo7s-sy LOS ANGELES, CA 90029 Tel. (213) 665-5293 / Fax. (213) 665-0809 December 10, 2018 Date: V/WcM *S . ^OVii Committee Submitted in Los Angeles Central Area Planning Commission Council File 200 N. Spring St. Los Angeles, CA 90012 Item No.:___ _L(2 ft "1 Beputy: RE: CASE NO. ZA-2017-5252-ZV 6150-6240 W. Hollywood Blvd., 1631-1649 N. El Centro Ave. 615-1631 N. Vista Del Mar Ave. 1614-1660 N. Argyle Ave. Dear Honorable Commission Members: I am a California Certified General Appraiser with over 25 years’ experience in appraising apartment and non-residential buildings within the county of Los Angeles. I am also a real estate continuing education instructor of various appraisal topics that include highest and best use, site analysis, and income property appraisal. I was asked to review the applicant’s request for a variance to allow a boxing gym in a new project which is under construction and located in a C4 zone; the current zoning does not allow gymnasiums/fitness centers. The applicant’s claim of “hardship” is not warranted for the following reasons: The applicant did not analyze the alternative uses that are allowable under the current zoning law which permits creative office space, medical space, or retail use and has failed to submit a proforma with rent projections for the alternate uses. li. The applicant has submitted articles that the retail industry is facing slower growth due to competition from online retailers resulting in store closures within malls; the vacant spaces are attracting gyms.
    [Show full text]
  • Securities and Exchange Commission Form 10-Q The
    SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR QUARTER ENDED SEPTEMBER 30, 2004 COMMISSION FILE NO. 1-12504 THE MACERICH COMPANY (Exact Name of registrant as specified in its charter) MARYLAND 95-4448705 (State or Other Jurisdiction of (I.R.S. Employer Identification No.) Incorporation) 401 Wilshire Boulevard, Suite 700, Santa Monica, California 90401 (Address of principal executive office, including zip code) Registrant’s telephone number, including area code (310) 394-6000 N/A (Former name, former address and former fiscal year, if changed since last report) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding twelve (12) months (or such shorter period that the Registrant was required to file such report) and (2) has been subject to such filing requirements for the past ninety (90) days. YES |X| NO |_| Indicate by check mark whether the registrant is an accelerated filer (as defined in Exchange Act Rule 12b-2). YES |X| NO |_| Number of shares outstanding of the registrant’s common stock, as of November 1, 2004 Common Stock, par value $.01 per share: 59,274,235 shares Form 10-Q INDEX Part I: Financial Information Page Item 1 Financial Statements (Unaudited) Consolidated balance sheets of the Company as of September 30, 2004 and December 31, 2003 2 Consolidated statements of operations of the Company for the
    [Show full text]
  • 5Mar200719253705
    Exhibit 99.2 5MAR200719253705 Supplemental Financial Information For the three and twelve months ended December 31, 2008 The Macerich Company Supplemental Financial and Operating Information Table of Contents All information included in this supplemental financial package is unaudited, unless otherwise indicated. Page No. Corporate overview ....................................................... 1-3 Overview .............................................................. 1 Capital information and market capitalization ................................... 2 Changes in total common and equivalent shares/units .............................. 3 Financial data .......................................................... 4-5 Supplemental FFO information .............................................. 4 Capital expenditures ...................................................... 5 Operational data ........................................................ 6-9 Sales per square foot ..................................................... 6 Occupancy ............................................................. 7 Rent................................................................. 8 Cost of occupancy ....................................................... 9 Balance sheet information ................................................. 10-13 Summarized balance sheet information ........................................ 10 Debt summary .......................................................... 11 Outstanding debt by maturity date ...........................................
    [Show full text]
  • Development Pipeline 2008 and Beyond
    Development Pipeline 2008 and Beyond Tom O’Hern - EVP and CFO, Macerich Randy Brant - EVP, Real Estate, Macerich Scott Nelson - VP, Development, Macerich Bobby Williams - SVP, Development Leasing, Macerich Garrett Newland - VP, Development, Macerich 30 Development Pipeline 2008 and Beyond 2008 Guidance FFO per share range $5.00 - $5.15 – 10% increase at midpoint v. 2007 Same center NOI growth forecast 3.5% - 4.0% – Increased from 2.4% in 2007 Capital events factored in: – 43 Mervyn’s stores – Redemption of 2.9 million MAC OP units for 4 Rochester assets Occupancy neutral v. 2007 Development Pipeline 2008 and Beyond MAC Balance Sheet Total debt $7.5 billion Total equity at $61 per share $5.4 billion Total market cap $12.9 billion Debt/market cap 57% Variable debt/total market cap 15% 2008 debt maturities $527 million 2009 debt maturities $728 million 4Q07 interest service coverage 2.4X Development Pipeline 2008 and Beyond 2008 Debt Maturities 2007 Current Debt Est. New Debt Asset SPSF $ Int. Rate (millions) Fresno Fashion Fair 545 63.5 6.52 200 Westside Pavilion 481 92.0 6.74 180 Broadway Plaza 768 30.0 6.68 50 South Towne Center 433 64.0 6.66 150 SanTan Village A 0.0 0 170 The Oaks 549 B 0.0 0 200 Mall at Victor Valley 480 51.2 4.69 110 Total 1,060 Total 2008 Maturities 520 Estimated LTV 50-55% A Center opened in Oct 2007. B SPSF is 2006 figure; redevelopment began in 2007. 33 Development Pipeline 2008 and Beyond Project SF Pro Rata Project 2007 2008 2009 2010 Property % Owned Completion (millions) Cost (millions) Cost Cost Cost
    [Show full text]
  • This Is Not a Mall.1
    This is not a mall.1 The Macerich Company ANNUAL REPORT 2001 For additional information about Macerich, our Form 10-K for the year ended December 31, 2001 is included in this Annual Report for your review. 2001 2000 1999 1998 1997 (All amounts in thousands, except per share and property data) OPERATING DATA Total revenues $ 334,573 $ 320,092 $ 327,444 $ 283,861 $ 221,214 Shopping center and operating expenses $ 110,827 $ 101,674 $ 100,327 $ 89,991 $ 70,901 REIT general and administrative expenses $ 6,780 $ 5,509 $ 5,488 $ 4,373 $ 2,759 Earnings before interest, income taxes, depreciation, amortization, minority interest, extraordinary items, gain (loss) on sale of assets and preferred dividends (EBITDA) – includes joint ventures at their pro rata share (1) $ 323,798 $ 314,628 $ 301,803 $ 230,362 $ 154,140 Net income $ 77,723 $ 56,929 $ 129,011 $ 44,075 $ 22,046 Net income per share – diluted $ 1.72 $ 1.11 $ 2.99 $ 1.06 $ 0.85 OTHER DATA FFO – diluted (2) $ 175,068 $ 167,244 $ 164,302 $ 120,518 $ 83,427 Cash distributions declared per common share $ 2.14 $ 2.06 $ 1.965 $ 1.865 $ 1.78 Portfolio occupancy at year end 92.4% 93.3% 92.8% 93.2% 91.8% Average tenant sales per square foot – mall and freestanding stores $ 350 $ 349 $ 336 $ 319 $ 317 BALANCE SHEET DATA Investment in real estate (before accumulated depreciation) $ 2,227,833 $ 2,228,468 $ 2,174,535 $ 2,213,125 $ 1,607,429 Total assets $ 2,294,502 $ 2,337,242 $ 2,404,293 $ 2,322,056 $ 1,505,002 Total mortgage, notes and debentures payable $ 1,523,660 $ 1,550,935 $ 1,561,127 $ 1,507,118 $ 1,122,959 Minority interest (3) $ 113,986 $ 120,500 $ 129,295 $ 132,177 $ 100,463 Common stockholders’ equity plus preferred stock $ 596,290 $ 609,608 $ 648,590 $ 610,760 $ 216,295 (1) EBITDA, as presented, may not be comparable to similarly titled measures reported by other companies.
    [Show full text]
  • 03-27-2018 City Council Regular Meeting Packet
    March 27, 2018 City Council Regular Meeting 7:00 p.m. ITEM 1 City Council Meeting CALL TO ORDER Invocation Given by:______________________ Pledge of Allegiance Given by:________________________ Roll Call CITY OF DICKINSON, TEXAS CITY COUNCIL MEETING ATTENDANCE LIST MEETING DATE: March 27, 2018 Regular Meeting MAYOR/COUNCIL PRESENT ABSENT MAYOR JULIE MASTERS __________ _________ POS. 1: COUNCILMEMBER CHARLES SUDERMAN __________ _________ POS. 2: COUNCILMEMBER BRUCE HENDERSON __________ _________ POS. 3: COUNCILMEMBER WALTER WILSON __________ _________ POS. 4: COUNCILMEMBER WALLY DEATS __________ _________ POS. 5: COUNCILMEMBER LOUIS DECKER __________ _________ POS. 6: COUNCILMEMBER WILLIAM KING __________ _________ ALSO IN ATTENDANCE: City Attorney David W. Olson __________ _________ City Administrator Chris Heard __________ _________ Assistant City Administrator/CFO Stephanie Russell __________ _________ City Secretary Alun W. Thomas __________ _________ Management Assistant Gabrielle Bernal __________ _________ Director of Community Dev. Zachary Meadows __________ _________ Public Works Director Bryan Milward __________ _________ Fire Marshal Lee Darrow __________ _________ EMS Director Derek Hunt __________ _________ Court Administrator Irma Rivera __________ _________ Library Director Lindsay Henson __________ _________ Bayou Animal Services Manager Melvin Trover __________ _________ ITEM 2 PROCLAMATIONS AND ANNOUNCEMENTS NOTES:_________________________________________ ________________________________________________ ________________________________________________
    [Show full text]