Macerich Company (the) · NYSE:MAC
Macerich Company (the) — Merger or Acquisition (March 2015)
14 slides from Macerich Company (the)'s merger presentation, Mar 20, 2015
Slide 1: Simon Property Group March 20, 2015
SIMON PROPERTY GROUP MARCH 20, 2015
Slide 2: Simon's Iconic Assets
SIMON’S ICONIC ASSETS 2 SUNRISE (MIAMI), FL NOI: $135MM || SALES PSF: $1,149 MIAMI BEACH, FL NOI: $100MM || SALES PSF: $1,642 ORLANDO, FL NOI: $82MM || SALES PSF: $1,537 SAN DIEGO, CA NOI: $73MM || SALES PSF: $1,085 LAS VEGAS, NV NOI: $73MM || SALES PSF: $1,551 ORLANDO, FL NOI: $70MM || SALES PSF: $
Slide 3: Simon's Iconic Mall Assets
SIMON’S ICONIC MALL ASSETS 3 MIAMI BEACH, FL NOI: $100MM || SALES PSF: $1,642 KING OF PRUSSIA (PHILADELPHIA), PA NOI: $68MM || SALES PSF: $773 ATLANTA, GA NOI: $66MM || SALES PSF: $1,047 BOCA RATON, FL NOI: $57MM || SALES PSF: $867 MIAMI, FL NOI: $56MM || SALES PSF: $1,143 LAS VEGAS, NV NOI: $99MM |
Slide 4: Simon Has a Deep Pool of Global, Highly Productive Assets
SIMON HAS A DEEP POOL OF GLOBAL, HIGHLY PRODUCTIVE ASSETS 4 (1)Figures reflect 2014 actual results in U.S. Dollars. •Assets With Sales >$726 PSF: 42 •Assets With Sales >$1,088 PSF: 17 •Domestic Assets with Sales >$726 PSF Owned in JV: 8 out of 30 Domestic Domestic Property State Sales PSF (1) Proper
Slide 5: Simon Has Diverse Growth Avenues
SIMON HAS DIVERSE GROWTH AVENUES 5 Simon’s global retail platform is poised to capture attractive growth opportunities beyond just the U.S. mall sector Outlets Development & Redevelopment McArthurGlen Hudson’s Bay Joint Venture International Klépierre •Strategically grow Premium Outlets platform thr
Slide 6: Mall Portfolio
SIMON’S MALL PORTFOLIO 6 (1)Simon defines sales PSF as total reported tenant sales on a trailing 12-month basis at owned GLA (for mall stores with less than 10,000 sq. ft.) in the malls. (2)Simon defines occupancy as the percentage of GLA leased on the last day of the reporting period for all Simon
Slide 7: Important IBM Joint Venture Information
IMPORTANT IBM JOINT VENTURE INFORMATION 7 •In 1998 Simon and Macerich acquired a 12 mall portfolio from IBM in a 50/50 JV •Management and leasing responsibilities were split among assets on a geographic basis •The East and West portfolios were far from comparable •The West portfolio was comprised pr
Slide 8: Source: Company filings and SNL Financial. (1)Reflects Simon’s FFO per share as reported. (2)Simon's
Source: Company filings and SNL Financial. (1)Reflects Simon’s FFO per share as reported. (2)Simon's 2014 FFO per share as reported excludes FFO from Washington Prime Group subsequent to the effective date of the spin-off. Comparable FFO per share growth as compared to 2013 was 13.9%. (3)Based on SN
Slide 9: Industry Leading Balance Sheet
SIMON’S INDUSTRY LEADING BALANCE SHEET 9 Simon’s A rated fortress balance sheet provides broad access to all forms of capital, including the investment grade global unsecured debt markets, which provide a durable cost of capital advantage Note: All figures presented on a pro rata basis. (1)Reflects
Slide 10: Agreement in Principle with General Growth
AGREEMENT IN PRINCIPLE WITH GENERAL GROWTH 10 •In order to make the record clear, Simon has previously advised Macerich of the following regarding its agreement with GGP: •There has never been any agreement regarding either Simon’s or GGP’s right to independently bid for the business or any assets o
Slide 11: Class B Shares
SIMON’S CLASS B SHARES 11 •To clarify any potential misperceptions, Simon presents the following facts about its Class B shares: •Structure has been in place since IPO in 1993, and always fully disclosed •Reflective of Simon family's continued significant stake in the company »Approximately ~31 mill
Slide 12: Simon Facts
SIMON FACTS 12 Development Pipeline Scale Total Shareholder Returns Portfolio Quality Based on Percentage of “A” Malls FFO per Share Growth Rates Transparent Disclosure •Simon’s development pipeline includes only approved, active projects and not its shadow pipeline which totals several billion doll
Slide 13: Important legal information
13 This communication does not constitute an offer to buy or solicitation of an offer to sell any securities. This communication relates to a proposal which Simon Property Group, Inc. ("Simon") has made for a business combination transaction with The Macerich Company ("Macerich"). In furtherance of
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