General Growth Properties and Macerich Announce Property Swap and Cash Deal

General Growth Properties, Inc. GGP and Macerich MAC today announced a deal in which Macerich will acquire GGP's 1/3 ownership each of Superstition Springs and Arrowhead Towne Center, both in the Phoenix market, for a net of $75,000,000 cash to GGP. As part of the deal, GGP will become owner of six big-box anchor locations in Arizona, California, Illinois and Utah previously owned by Macerich.