Macerich Sells Two Retail Centers to Merlone Geier Partners for $170M

SAN RAFAEL, CALIF., AND BURLINGTON, WASH. — Macerich has completed the disposition of two retail centers in California and Washington. Merlone Geier Partners acquired the properties — Northgate Mall in San Rafael and Cascade Mall in Burlington — for $170 million.

The transaction resulted in net proceeds to Macerich of approximately $100 million after the repayment of a floating-rate note on Northgate Mall.