Santa Monica-based Macerich has joined the parade of REITs selling off real estate, with the retail specialist dumping more than a billion dollars worth of property in the last year and a half. And it isn’t through. Macerich is now under contract to offload a mall in coastal Santa Barbara, which should close next quarter and command an $11 million price tag, the company said during a fourth-quarter and full-year earnings call, when chief executive Jack Hsieh touted the “path forward plan” he introduced two years ago when he snagged the corner office and set out to pay down debt. […]
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