Macerich, a retail REIT based in Santa Monica, recently announced its Path-Forward plan under the leadership of new president and CEO Jackson Hsieh. This plan aims to simplify the business, improve operational performance, and reduce leverage.
The company’s strategy includes deleveraging their capital structure over the next three to four years while investing in key assets within their portfolio. They also plan to consolidate selected joint venture assets that align with their overall strategy.
In addition, Macerich is focused on achieving a clean FFO/share launch point of approximately $1.80 per share over the next few years by improving internal processes and positioning themselves for potential acquisitions and development opportunities.
Hsieh expressed his enthusiasm for leading Macerich towards elevated performance through this well-crafted path forward. The company’s future looks promising as they strive to add long-term value for shareholders, partners, and customers.
One notable asset within Macerich’s portfolio is Tysons Corner Center located in McLean,Virginia (pictured above).
