M&A Deal Summary

Macerich Acquires FlatIron Crossing

On October 1, 2012, Macerich acquired real estate company FlatIron Crossing from GI Partners

Acquisition Highlights
  • This is Macerich’s 2nd transaction in the Real Estate sector.
  • This is Macerich’s 2nd transaction in the United States.
  • This is Macerich’s 1st transaction in Colorado.

M&A Deal Summary
Date 2012-10-01
Target FlatIron Crossing
Sector Real Estate
Buyer(s) Macerich
Sellers(s) GI Partners
Deal Type Add-on Acquisition

Target

FlatIron Crossing

Broomfield, Colorado, United States
FlatIron Crossing, a 1.7 million square foot class A regional mall. Strong employment base IBM, Sun/Oracle, Ball Corp each employ over 3,000 in market 78,000 employees in trade area.

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Buyer(S) 1

Buyer

Macerich

Santa Monica, California, United States
Category Company
Sector Real Estate
Employees659
Revenue 884M USD (2023)
DESCRIPTION

Macerich is a real estate investment trust (REIT). The Company is engaged in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. Macerich is based in Santa Monica, California.

DEAL STATS #
Overall 2 of 2
Sector (Real Estate) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Colorado) 1 of 1
Country (United States) 2 of 2
Year (2012) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-05-31 Westcor Realty Limited Partnership

Phoenix, Arizona, United States

Westcor Realty Limited Partnership, a dominant owner, operator and developer of regional malls and specialty retail assets in the greater Phoenix area.

Buy $1.5B

Seller(S) 1

SELLER

GI Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 42.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GI Partners (Global Innovation Partners) is a private equity firm focused on control oriented investments in asset-backed businesses and properties located throughout North America and Western Europe. GI looks to invest up to $1500 million in companies generating predictable, recurring cash flows; underperforming businesses with intrinsic value; and direct asset investments with operational complexity. Sectors of interest include energy, education, healthcare services, leisure, retail, logistics, media, entertainment, financial services, technology, and telecommunications. GI Partners was formed in 2001 and has offices in San Francisco, Greenwich, and Chicago.

DEAL STATS #
Overall 6 of 24
Sector (Real Estate) 2 of 4
Type (Add-on Acquisition) 1 of 7
State (Colorado) 1 of 2
Country (United States) 6 of 19
Year (2012) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-06 Vitalyst

Bala Cynwyd, Pennsylvania, United States

Vitalyst is a provider of remote, desktop application software support services for Fortune 1000 Companies. The Company works in partnership with clients' IT departments as both a Help Desk support enhancement as well as a remote training department for desktop application software. Vitalyst was founded in 1992 and is based in Bala Cynwyd, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-01 Plum Healthcare Group

San Marcos, California, United States

Leading operator of skilled nursing facilities. Focus on rehabilitation and higher acuities patients.

Sell -
Mergr

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