Macerich To Pay Alexander's, Vornado $1.25B For NYC Malls

Law360, New York (October 22, 2012, 3:58 PM EDT) -- Real estate investment trust The Macerich Co. said Monday that it plans to pay $1.25 billion for two New York City-area malls with a combined 3 million square feet of space from REITs Alexander's Inc. and Vornado Realty Trust.

The two malls — Alexander's Kings Plaza mall in Brooklyn and Vornado's Green Acres mall in suburban Nassau County — will add to the about 60 malls nationwide that Macerich has an interest in, including Queens Center in New York City.

"These transactions are consistent with our...
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