UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K/A
(Amendment No. 1)
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported) January 24, 2013
THE MACERICH COMPANY
(Exact Name of Registrant as Specified in Charter)
|
MARYLAND |
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1-12504 |
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95-4448705 |
|
(State or Other Jurisdiction of Incorporation) |
|
(Commission File Number) |
|
(IRS Employer 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):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
This Form 8-K/A, Amendment No. 1 is being filed for the purpose of filing the financial statements and pro forma financial information required by Item 9.01 with respect to the Current Report on Form 8-K filed by The Macerich Company (the “Company”) on January 28, 2013 regarding the acquisition of Green Acres Mall.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
Listed below are the financial statements, pro forma financial information and exhibits furnished as part of this report:
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(a) |
Financial statements under Rule 3-14 of Regulation S-X |
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Pro Forma Consolidated Balance Sheet as of September 30, 2012 |
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Notes to Pro Forma Consolidated Balance Sheet as of September 30, 2012 |
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Pro Forma Consolidated Statement of Operations for the Nine Months Ended September 30, 2012 |
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Notes to Pro Forma Consolidated Statement of Operations for the Nine Months Ended September 30, 2012 |
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Pro Forma Consolidated Statement of Operations for the Year Ended December 31, 2011 |
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Notes to Pro Forma Consolidated Statement of Operations for the Year Ended December 31, 2011 |
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(d) Exhibits. | |
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23.1 Consent of KPMG LLP, dated March 28, 2013 |
The Board of Directors of
The Macerich Company:
We have audited the accompanying statement of revenues and certain expenses (Historical Summary) of Green Acres Mall (the Property) for the year ended December 31, 2011. This Historical Summary is the responsibility of the Property’s management. Our responsibility is to express an opinion on this Historical Summary based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the Historical Summary is free of material misstatement. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Property’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the Historical Summary, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the Historical Summary. We believe that our audit provides a reasonable basis for our opinion.
The accompanying Historical Summary was prepared for the purpose of complying with the rules and regulations of the Securities and Exchange Commission as described in note 1. The presentation is not intended to be a complete presentation of the Property’s revenues and certain expenses.
In our opinion, the Historical Summary referred to above presents fairly, in all material respects, the revenues and certain expenses described in note 1 of Green Acres Mall for the year ended December 31, 2011, in conformity with U.S. generally accepted accounting principles.
/s/ KPMG LLP
Los Angeles, California
March 28, 2013
GREEN ACRES MALL
STATEMENTS OF REVENUES AND CERTAIN EXPENSES
(Dollars in thousands)
|
|
|
For the Nine Months |
|
For the Year Ended |
| ||
|
|
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(Unaudited) |
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December 31, 2011 |
| ||
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Revenues: |
|
|
|
|
| ||
|
Minimum rents |
|
$ |
25,062 |
|
$ |
34,384 |
|
|
Percentage rents |
|
— |
|
471 |
| ||
|
Tenant recoveries |
|
21,070 |
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24,764 |
| ||
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Other |
|
7 |
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16 |
| ||
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Total revenues |
|
46,139 |
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59,635 |
| ||
|
Certain expenses: |
|
|
|
|
| ||
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Operations and maintenance |
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4,142 |
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7,784 |
| ||
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Real estate taxes |
|
16,023 |
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20,393 |
| ||
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Insurance |
|
157 |
|
211 |
| ||
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Utilities |
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1,278 |
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2,101 |
| ||
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Security |
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1,032 |
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1,415 |
| ||
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Total certain expenses |
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22,632 |
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31,904 |
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Revenues in excess of certain expenses |
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$ |
23,507 |
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$ |
27,731 |
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The accompanying notes are an integral part of these statements of revenues and certain expenses.
GREEN ACRES MALL
NOTES TO STATEMENTS OF REVENUES AND CERTAIN EXPENSES
NINE MONTHS ENDED SEPTEMBER 30, 2012 (UNAUDITED) AND THE YEAR ENDED DECEMBER 31, 2011
(Dollars in thousands)
1. Summary of Significant Accounting Policies:
Basis of Presentation:
The accompanying statements of revenues and certain expenses relate to the operations of Green Acres Mall, an 1,800,000 square foot super regional shopping center in Valley Stream, New York that was purchased by The Macerich Company on January 24, 2013.
The accompanying statements of revenues and certain expenses have been prepared for the purpose of complying with the rules and regulations of the Securities and Exchange Commission and, accordingly, are not representative of the actual results of operations of Green Acres Mall for the nine months ended September 30, 2012 and the year ended December 31, 2011 due to the exclusion of the following expenses, which may not be comparable to the proposed future operations of the property:
· Depreciation and amortization,
· Management fees, and
· Mortgage interest expense since the center was refinanced on the date of acquisition.
Revenues:
Minimum rental revenues are recognized on a straight-line basis over the terms of the related leases. Percentage rents are recognized and accrued when tenants’ specified sales targets have been met.
Estimated recoveries from certain tenants for their pro rata share of real estate taxes, insurance and other shopping center operating expenses are recognized as revenues in the period the applicable expenses are incurred. Other tenants pay a fixed rate and these tenant recoveries are recognized as revenues on a straight-line basis over the terms of the related leases.
Management Estimates:
Management has made a number of estimates and assumptions relating to the reporting and disclosure of revenues and certain expenses during the reporting period to prepare the statements of revenues and certain expenses in conformity with U.S. generally accepted accounting principles. Actual results could differ from these estimates.
Unaudited Interim Statement:
The statement of revenues and certain expenses for the nine months ended September 30, 2012 is unaudited. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the statement of revenues and certain expenses for the interim period have been made.
2. Future Rental Revenues:
Under existing non-cancelable operating lease agreements, tenants are committed to pay the following minimum rental payments to Green Acres Mall:
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Year Ending December 31, |
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| |
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2012 |
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$ |
27,935 |
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2013 |
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26,190 |
| |
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2014 |
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22,454 |
| |
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2015 |
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20,689 |
| |
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2016 |
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19,040 |
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Thereafter |
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139,638 |
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$ |
255,946 |
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3. Commitments and Contingencies:
Green Acres Mall is subject to a non-cancelable operating ground lease. The lease expires on May 28, 2018, subject to options to extend the term of the lease. Minimum future rental payments required under the lease, including amounts expected to be incurred during the extension periods, are as follows:
|
Year Ending December 31, |
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| |
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2012 |
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$ |
1,183 |
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2013 |
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1,119 |
| |
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2014 |
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1,056 |
| |
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2015 |
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1,056 |
| |
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2016 |
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1,056 |
| |
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Thereafter |
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28,163 |
| |
|
|
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$ |
33,633 |
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4. Subsequent Events:
The management of Green Acres Mall evaluated subsequent events through March 28, 2013, the date that these statements of revenues and certain expenses were issued.
The Macerich Company (the “Company”)
Pro Forma Consolidated Financial Information (Unaudited)
The following unaudited pro forma consolidated financial information has been prepared to give effect to the Company’s acquisition of Green Acres Mall. The Company acquired Green Acres Mall on January 24, 2013 for a purchase price of $500.0 million. The purchase price was funded by the placement of a $325.0 million mortgage note on the property and borrowings under the Company’s line of credit.
The pro forma consolidated balance sheet has been presented as if the the acquisition occurred on September 30, 2012 and the pro forma statements of operations have been presented as if the acquisition had occurred on January 1, 2011.
This pro forma consolidated financial information should be read in conjunction with the Company’s consolidated financial statements included in the Company’s Form 10-K for the year ended December 31, 2011, the Company’s Form 10-Q for the quarterly period ended September 30, 2012, as filed with the Securities and Exchange Commission, and the statements of revenues and certain expenses of Green Acres Mall and related notes thereto included elsewhere in this filing.
The purchase allocation adjustments made in connection with the unaudited pro forma consolidated financial statements are based on the information available at this time. Subsequent adjustments to the allocation may be made based on additional information.
The pro forma consolidated financial statements do not purport to represent the Company’s financial position or results of operation that would actually have occurred assuming the acquisition of Green Acres Mall along with the related financing transactions had all occurred on January 1, 2011; nor do they purport to project the Company’s financial position or results of operations as of any future date or for any future period.
THE MACERICH COMPANY
PRO FORMA CONSOLIDATED BALANCE SHEET (UNAUDITED)
AS OF SEPTEMBER 30, 2012
(Dollars in thousands)
|
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The Company |
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Pro Forma Adjustments |
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Pro Forma |
| |||
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ASSETS: |
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| |||
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Property, net |
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$ |
5,942,141 |
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$ |
476,264 |
(b) |
$ |
6,418,405 |
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Cash and cash equivalents |
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76,553 |
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— |
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76,553 |
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Restricted cash |
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61,743 |
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1,563 |
(c) |
63,306 |
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Marketable securities |
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24,209 |
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— |
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24,209 |
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Tenant and other receivables, net |
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108,329 |
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— |
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108,329 |
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Deferred charges and other assets, net |
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359,228 |
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63,841 |
(b) |
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4,493 |
(c) |
427,562 |
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Loans to unconsolidated joint ventures |
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3,334 |
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— |
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3,334 |
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Due from affiliates |
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7,595 |
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— |
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7,595 |
| |||
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Investments in unconsolidated joint ventures |
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1,026,724 |
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— |
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1,026,724 |
| |||
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Total assets |
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$ |
7,609,856 |
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$ |
546,161 |
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$ |
8,156,017 |
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LIABILITIES AND EQUITY: |
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Mortgage notes payable: |
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|
| |||
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Related parties |
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$ |
275,871 |
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$ |
— |
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$ |
275,871 |
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Others |
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3,109,402 |
|
325,000 |
(c) |
3,434,402 |
| |||
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Total |
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3,385,273 |
|
325,000 |
|
3,710,273 |
| |||
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Bank and other notes payable |
|
404,239 |
|
177,723 |
(e) |
581,962 |
| |||
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Accounts payable and accrued expenses |
|
74,754 |
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— |
|
74,754 |
| |||
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Other accrued liabilities |
|
278,198 |
|
40,105 |
(b) |
|
| |||
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|
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|
3,333 |
(d) |
321,636 |
| |||
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Distributions in excess of investments in unconsolidated joint ventures |
|
86,666 |
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— |
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86,666 |
| |||
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Co-venture obligation |
|
95,018 |
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— |
|
95,018 |
| |||
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Total liabilities |
|
4,324,148 |
|
546,161 |
|
4,870,309 |
| |||
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Commitments and contingencies |
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Equity: |
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Stockholders’ equity: |
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|
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|
|
|
| |||
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Common stock |
|
1,363 |
|
— |
|
1,363 |
| |||
|
Additional paid-in capital |
|
3,671,351 |
|
— |
|
3,671,351 |
| |||
|
Accumulated deficit |
|
(734,684 |
) |
— |
|
(734,684 |
) | |||
|
Total stockholders’ equity |
|
2,938,030 |
|
— |
|
2,938,030 |
| |||
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Noncontrolling interests |
|
347,678 |
|
— |
|
347,678 |
| |||
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Total equity |
|
3,285,708 |
|
— |
|
3,285,708 |
| |||
|
Total liabilities and equity |
|
$ |
7,609,856 |
|
$ |
546,161 |
|
$ |
8,156,017 |
|
The accompanying notes are an integral part of this pro forma consolidated balance sheet (unaudited).
THE MACERICH COMPANY
NOTES TO PRO FORMA CONSOLIDATED BALANCE SHEET (UNAUDITED)
AS OF SEPTEMBER 30, 2012
(Dollars in thousands)
(a) This information represents the Company’s historical consolidated balance sheet as of September 30, 2012, which was included in the Company’s previously filed Quarterly Report on Form 10-Q for the quarter ended September 30, 2012.
(b) Includes the pro forma effect of the Company’s acquisition of Green Acres Mall. The purchase price was allocated to assets acquired and liabilities assumed based on fair values as follows:
|
Property, net |
|
$ |
476,264 |
|
|
Deferred charges and other assets, net |
|
63,841 |
| |
|
Total assets acquired |
|
540,105 |
| |
|
|
|
|
| |
|
Other accrued liabilities |
|
40,105 |
| |
|
Total liabilities assumed |
|
40,105 |
| |
|
Fair value of assets acquired, net |
|
$ |
500,000 |
|
(c) Represents the pro forma effect of the Company’s placement of a $325,000 mortgage note payable on the property. The mortgage note payable bears interest at an effective interest rate of 3.62% and matures on February 3, 2021. In accordance with the loan agreement, the Company has established a restricted cash account for $1,563 at the date of acquisition. The Company incurred origination costs of $4,493 in placement of this loan which are included in deferred charges and other assets, net, in the accompanying pro forma consolidated balance sheet.
(d) Includes certain pro ration adjustments related to the acquisition.
(e) Represents additional borrowings under the Company’s line of credit to fund the acquisition.
THE MACERICH COMPANY
PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2012
(Dollars in thousands, except per share amounts)
|
|
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The Company |
|
Green Acres |
|
Pro Forma |
|
Pro Forma |
| ||||
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Revenues: |
|
|
|
|
|
|
|
|
| ||||
|
Minimum rents |
|
$ |
356,551 |
|
$ |
25,062 |
|
$ |
1,259 |
(c) |
$ |
382,872 |
|
|
Percentage rents |
|
11,938 |
|
— |
|
— |
|
11,938 |
| ||||
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Tenant recoveries |
|
197,924 |
|
21,070 |
|
— |
|
218,994 |
| ||||
|
Management Companies |
|
30,730 |
|
— |
|
— |
|
30,730 |
| ||||
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Other |
|
33,017 |
|
7 |
|
— |
|
33,024 |
| ||||
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Total revenues |
|
630,160 |
|
46,139 |
|
1,259 |
|
677,558 |
| ||||
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Expenses: |
|
|
|
|
|
|
|
|
| ||||
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Shopping center and operating expenses |
|
198,258 |
|
22,632 |
|
(27 |
)(d) |
220,863 |
| ||||
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Management Companies’ operating expenses |
|
66,953 |
|
— |
|
— |
|
66,953 |
| ||||
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REIT general and administrative expenses |
|
15,235 |
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— |
|
— |
|
15,235 |
| ||||
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Depreciation and amortization |
|
217,548 |
|
— |
|
13,619 |
(e) |
231,167 |
| ||||
|
|
|
497,994 |
|
22,632 |
|
13,592 |
|
534,218 |
| ||||
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Interest expense: |
|
|
|
|
|
|
|
|
| ||||
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Related parties |
|
11,588 |
|
— |
|
— |
|
11,588 |
| ||||
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Other |
|
116,855 |
|
— |
|
13,217 |
(f) |
130,072 |
| ||||
|
|
|
128,443 |
|
— |
|
13,217 |
|
141,660 |
| ||||
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Total expenses |
|
626,437 |
|
22,632 |
|
26,809 |
|
675,878 |
| ||||
|
Equity in income of unconsolidated joint ventures |
|
68,624 |
|
— |
|
— |
|
68,624 |
| ||||
|
Co-venture expense |
|
(4,462 |
) |
— |
|
— |
|
(4,462 |
) | ||||
|
Income tax benefit |
|
2,159 |
|
— |
|
— |
|
2,159 |
| ||||
|
Gain on remeasurement, sale or write down of assets, net |
|
40,603 |
|
— |
|
— |
|
40,603 |
| ||||
|
Income from continuing operations |
|
110,647 |
|
23,507 |
|
(25,550 |
) |
108,604 |
| ||||
|
Less income from continuing operations attributable to noncontrolling interests |
|
11,838 |
|
— |
|
(157 |
) |
11,681 |
| ||||
|
Income from continuing operations attributable to the Company |
|
$ |
98,809 |
|
$ |
23,507 |
|
$ |
(25,393 |
) |
$ |
96,923 |
|
|
Earnings per common share attributable to Company: |
|
|
|
|
|
|
|
|
| ||||
|
Income (loss) from continuing operations - basic |
|
$ |
0.74 |
|
|
|
$ |
(0.02 |
) |
$ |
0.72 |
| |
|
Income (loss) from continuing operations - diluted |
|
$ |
0.74 |
|
|
|
$ |
(0.02 |
) |
$ |
0.72 |
| |
|
Weighted average number of common shares outstanding: |
|
|
|
|
|
|
|
|
| ||||
|
Basic |
|
133,091,000 |
|
|
|
|
|
133,091,000 |
| ||||
|
Diluted |
|
133,187,000 |
|
|
|
|
|
133,187,000 |
| ||||
The accompanying notes are an integral part of this pro forma consolidated statement of operations (unaudited).
THE MACERICH COMPANY
NOTES TO PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2012
(Dollars in thousands)
(a) This information represents the Company’s historical consolidated statement of operations for the nine months ended September 30, 2012, which was included in the Company’s previously filed Quarterly Report on Form 10-Q for the quarter ended September 30, 2012.
(b) This information represents revenues and certain expenses of Green Acres Mall for the nine months ended September 30, 2012, which was included in this Current Report on Form 8-K/A.
(c) Represents the pro forma amortization of above and below market leases based on the purchase price allocation of Green Acres Mall, which is based on the information available at this time. Subsequent adjustments to the allocation may be made based on additional information.
(d) Represents the pro forma amortization of an above market ground lease based on the purchase price allocation of Green Acres Mall, which is based on the information available at this time. Subsequent adjustments to the allocation may be made based on additional information.
(e) Represents the pro forma depreciation and amortization expense based on the purchase price allocation of Green Acres Mall, which is based on the information available at this time. Subsequent adjustments to the allocation may be made based on additional information.
(f) Represents interest expense on the $325,000 mortgage loan placed on the property and interest expense on the additional borrowings on the Company’s line of credit.
THE MACERICH COMPANY
PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)
FOR THE YEAR ENDED DECEMBER 31, 2011
(Dollars in thousands, except per share amounts)
|
|
|
The Company |
|
Green Acres |
|
Pro Forma |
|
Pro Forma |
| ||||
|
Revenues: |
|
|
|
|
|
|
|
|
| ||||
|
Minimum rents |
|
$ |
429,007 |
|
$ |
34,384 |
|
$ |
1,710 |
(c) |
$ |
465,101 |
|
|
Percentage rents |
|
19,175 |
|
471 |
|
— |
|
19,646 |
| ||||
|
Tenant recoveries |
|
241,776 |
|
24,764 |
|
— |
|
266,540 |
| ||||
|
Management Companies |
|
40,404 |
|
— |
|
— |
|
40,404 |
| ||||
|
Other |
|
33,009 |
|
16 |
|
— |
|
33,025 |
| ||||
|
Total revenues |
|
763,371 |
|
59,635 |
|
1,710 |
|
824,716 |
| ||||
|
Expenses: |
|
|
|
|
|
|
|
|
| ||||
|
Shopping center and operating expenses |
|
242,298 |
|
31,904 |
|
(36 |
)(d) |
274,166 |
| ||||
|
Management Companies’ operating expenses |
|
86,587 |
|
— |
|
— |
|
86,587 |
| ||||
|
REIT general and administrative expenses |
|
21,113 |
|
— |
|
— |
|
21,113 |
| ||||
|
Depreciation and amortization |
|
252,075 |
|
— |
|
20,646 |
(e) |
272,721 |
| ||||
|
|
|
602,073 |
|
31,904 |
|
20,610 |
|
654,587 |
| ||||
|
Interest expense: |
|
|
|
|
|
|
|
|
| ||||
|
Related parties |
|
16,743 |
|
— |
|
— |
|
16,743 |
| ||||
|
Other |
|
162,965 |
|
— |
|
16,585 |
(f) |
179,550 |
| ||||
|
|
|
179,708 |
|
— |
|
16,585 |
|
196,293 |
| ||||
|
Loss on early extinguishment of debt, net |
|
10,588 |
|
— |
|
— |
|
10,588 |
| ||||
|
Total expenses |
|
792,369 |
|
31,904 |
|
37,195 |
|
861,468 |
| ||||
|
Equity in income of unconsolidated joint ventures |
|
294,677 |
|
— |
|
— |
|
294,677 |
| ||||
|
Co-venture expense |
|
(5,806 |
) |
— |
|
— |
|
(5,806 |
) | ||||
|
Income tax benefit |
|
6,110 |
|
— |
|
— |
|
6,110 |
| ||||
|
Loss on remeasurement, sale or write down of assets, net |
|
(22,037 |
) |
— |
|
— |
|
(22,037 |
) | ||||
|
Income from continuing operations |
|
243,946 |
|
27,731 |
|
(35,485 |
) |
236,192 |
| ||||
|
Less income from continuing operations attributable to noncontrolling interests |
|
14,965 |
|
— |
|
(615 |
) |
14,350 |
| ||||
|
Income from continuing operations attributable to the Company |
|
$ |
228,981 |
|
$ |
27,731 |
|
$ |
(34,870 |
) |
$ |
221,842 |
|
|
Earnings per common share attributable to Company: |
|
|
|
|
|
|
|
|
| ||||
|
Income (loss) from continuing operations - basic |
|
$ |
1.70 |
|
|
|
$ |
(0.07 |
) |
$ |
1.63 |
| |
|
Income (loss) from continuing operations - diluted |
|
$ |
1.70 |
|
|
|
$ |
(0.07 |
) |
$ |
1.63 |
| |
|
Weighted average number of common shares outstanding: |
|
|
|
|
|
|
|
|
| ||||
|
Basic |
|
131,628,000 |
|
|
|
|
|
131,628,000 |
| ||||
|
Diluted |
|
131,628,000 |
|
|
|
|
|
131,628,000 |
| ||||
The accompanying notes are an integral part of this pro forma consolidated statement of operations (unaudited).
THE MACERICH COMPANY
NOTES TO PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED)
FOR THE YEAR ENDED DECEMBER 31, 2011
(Dollars in thousands)
(a) This information represents the Company’s historical consolidated statement of operations for the year ended December 31, 2011, which was included in the Company’s previously filed Annual Report on Form 10-K for the year ended December 31, 2011. The presentation includes the reclassifications of revenues and expenses of $27,879 and $42,352, respectively, to discontinued operations related to dispositions subsequent to the filings of the Annual Report on Form 10-K for the year ended December 31, 2011.
(b) This information represents revenues and certain expenses of Green Acres Mall for the year ended December 31, 2011, included in this Current Report on Form 8-K/A.
(c) Represents the pro forma amortization of above and below market leases based on the purchase price allocation of Green Acres Mall, which is based on the information available at this time. Subsequent adjustments to the allocation may be made based on additional information.
(d) Represents the pro forma amortization of an above market ground lease based on the purchase price allocation of Green Acres Mall, which is based on the information available at this time. Subsequent adjustments to the allocation may be made based on additional information.
(e) Represents the pro forma depreciation and amortization expense based on the purchase price allocation of Green Acres Mall, which is based on the information available at this time. Subsequent adjustments to the allocation may be made based on additional information.
(f) Represents interest expense on the $325,000 mortgage loan placed on the property and interest expense on the additional borrowings on the Company’s line of credit.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, The Macerich Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
THE MACERICH COMPANY |
|
|
By: THOMAS E. O’HERN |
|
|
|
|
|
/s/ THOMAS E. O’HERN |
|
|
Senior Executive Vice President, |
|
|
Chief Financial Officer |
|
March 28, 2013 |
and Treasurer |
Exhibit 23.1
Consent of Independent Auditors
The Board of Directors of
The Macerich Company:
We consent to the incorporation by reference in the Registration Statements on Form S-3 (Nos. 333-176762, 333-107063, and 333-121630) and Form S-8 (Nos. 33-84038, 33-84040, 333-40667, 333-42309, 333-42303, 333-57898, 333-69995, 333-108193, 333-120585, 333-161371, 333-00584, 333-186915 and 333-186916) of The Macerich Company of our report dated March 28, 2013, with respect to the Statement of Revenues and Certain Expenses of Green Acres Mall for the year ended December 31, 2011, which report appears in this Form 8-K/A of The Macerich Company dated March 28, 2013.
|
/s/ KPMG LLP |
|
|
|
|
|
Los Angeles, California |
|
March 28, 2013 |