Macerich (MAC) said Tuesday it has acquired Crabtree Mall in Raleigh, North Carolina, for $290 million.
The company used cash on hand and $100 million of borrowings on its revolving line of credit to fund the acquisition.
Macerich said that through 2028, it intends to implement an investment plan at the property amounting to about $60 million of new redevelopment and leasing capital.
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