Manatt Guides Macerich In $500M Deal For Vornado Mall

Law360, New York (January 25, 2013, 12:12 PM EST) -- Closing a deal that’s been in the works for four months, shopping center owner and manager The Macerich Co. has bought a 1.8-million-square-foot New York mall from a Vornado Realty Trust unit for $500 million, the companies announced Friday.

The purchase of Green Acres Mall was funded with a $325 million fixed-rate loan at an eight-year term, with the rest coming from a mix of cash on hand and Macerich’s existing line of credit, the company said. A representative for Macerich was not immediately available for...
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