In the wake of Simon Property Group Inc.’s pending $3.6 billion purchase of an 80 percent stake in Taubman Centers Inc.’s operating subsidiary, all eyes are on Macerich Co. as the next potential takeover target among retail REITs.
Santa Monica, Calif.-based Macerich is “next in line” to be acquired, says Alex Pettee, president and director of research and ETFs at Rowayton, Conn.-based investment adviser Hoya Capital Real Estate LLC, thanks to its high-quality portfolio of retail properties. . . . more