07:21 AM EDT, 06/24/2025 (MT Newswires) -- 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 ( MAC ) 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.