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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (66384)	2/3/2021 11:49:37 AM
From: Lazarus	1 Recommendation Recommended By E_K_S Read Replies (3) \| Respond to of 78717

Macerich looks to tap investors after stings from Covid then day traders SNIP: Macerich Company, the beleaguered mall REIT whose stock briefly soared last week before falling back down, is preparing to issue up to $500 million of new equity.One of the largest shopping center owners in the U.S., Macerich is now shopping for investors to help it meet its outstanding debt obligations, according to filings with the Securities and Exchange Commission. The Santa Monica, California-based company has a $1.5 billion line of credit that was fully drawn and comes due in July, along with $800 million in mortgages in forbearance plans. FULL ARTICLE

To: Madharry who wrote (66384)	2/3/2021 11:53:16 AM
From: Lazarus	Read Replies (2) \| Respond to of 78717

For speculatorss -- AXXA methinks a better bet long term for a multibagger and PGAS and RJDG if you want something more like a shell with reverse merger possibility than FCCN and SKPO

To: Madharry who wrote (66384)	2/4/2021 8:41:13 AM
From: E_K_S	Read Replies (2) \| Respond to of 78717

Update on MAC Macerich provides update on rent collections, extension of loans Byline: Dawood Fakhir Macerich Co. said the rent *collection rates for its portfolio progressed in 2020, increasing to approximately 89% in the third quarter and to 91% in the fourth quarter.* The retail landlord said about 4% of its gross rent balance from the nearly 200 national tenants remains unresolved. Macerich said it agreed to repayment terms with and/or received payments for approximately 93% of its gross rent, and was negotiating terms with another 1%, while approximately 2% of its 200 national tenants filed for bankruptcy and have either liquidated or plan to liquidate their entire store fleet. All of the company's properties resumed operations as of early October 2020 and remain open, while mall occupancy stood at 89.7% as of Dec. 31, 2020, compared to 94.0% at Dec. 31, 2019. As of Feb. 1, the company has commitments for 43% of the leases expiring in 2021 and is in active lease negotiations on another 42% of the leases expiring in the current year. On the loans front, a joint venture of Macerich closed a one-year extension of the $102.6 million loan on its FlatIron Crossing mall in Broomfield, Colo., pushing the maturity to Jan. 5, 2022. The landlord also secured a three-year extension of the $270.6 million loan on its Green Acres Mall in Valley Stream, N.Y., which now matures Feb. 3, 2023. Macerich is also negotiating for a new credit facility to replace its existing credit facility that expires July 6. The new credit facility may include a lower lending commitment and require security, the company said.