Commentary: Location helped Macerich's Q4 results

02/18/2009 | BNET

Macerich, a shopping mall REIT, "had a pretty darn good fourth quarter, considering that we're in a recession," Ian Ritter writes in a BNET commentary. The company posted a 43% increase in funds from operations, largely because of the location of its 72 properties. "Many of the company's malls are like Queens Center in New York, which is the only game in town for miles around in [a] very densely-populated area," Ritter says.

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