Macerich

Jackson Hsieh is the President and CEO as of March 2024 and sets the strategic direction for acquisitions, dispositions and redevelopments. The senior leadership team includes CFO Scott Kingsmore and a group of executive vice presidents overseeing leasing, development and asset management. Major capital allocation decisions are approved by the board of directors.

Historically Macerich has built its portfolio through ground-up development of regional malls and selective acquisitions of existing dominant centers. In the current cycle, the firm has been a net seller of secondary-market assets rather than an active acquirer. Sourcing relies on long-standing relationships with institutional property owners, joint-venture partners and the brokerage community focused on retail real estate.

Macerich is a publicly traded real estate investment trust listed on the New York Stock Exchange under the ticker MAC. While the firm was founded by Mace Siegel and Dana Anderson and family members held significant board roles for decades, it is now governed by an independent board and owned by a broad base of institutional and retail shareholders.

Macerich frequently uses joint-venture structures, maintaining majority ownership stakes and operational control while bringing in institutional equity partners. Known partners include Singapore sovereign wealth fund GIC and pension-fund adviser Heitman (per public filings). These arrangements allow the firm to recycle capital while preserving its role as day-to-day operator.

The firm's highest-concentration markets are Arizona, California, the Pacific Northwest and the Metro New York region. Its marquee properties include Tysons Corner Center in the Washington, D.C. area, Scottsdale Fashion Square, and Broadway Plaza in Northern California — all located in dense, high-barrier-to-entry trade areas.

Macerich's current focus is on densifying existing retail real estate through mixed-use redevelopment — adding residential, office and hotel components to its owned land at dominant malls. Large-scale new ground-up mall development is largely absent from the near-term pipeline, consistent with the industry's broader shift from building new enclosed centers to intensifying existing ones.

The founding Siegel and Anderson families were significant shareholders and board members for decades. Mace Siegel passed away in 2011 and Dana Anderson died in 2017. Their ownership interests were gradually distributed among heirs and diluted over time as the public float expanded. No single family today exercises controlling ownership of the public company.