Robert Perlmutter Joins Macerich as Head of Leasing

SANTA MONICA, Calif., April 19, 2012 /PRNewswire/ -- Macerich (NYSE:MAC), one of the country's leading owners of high quality regional shopping centers, announced today that Robert Perlmutter, age 50, has joined the company as Executive Vice President-Leasing and is based at the company's Santa Monica headquarters

Perlmutter spent 15 years of his early career at the Heitman Company and was in charge of the ownership, management and leasing of over 40 US regional malls throughout the country. In 1998, after leaving Heitman, Bobby formed Davis Street Land Company which developed and owned a portfolio of high quality retail centers.

"My brother Ed Coppola and I have known and respected Bobby for over 20 years. The sale of the majority of the assets of Davis Street last fall opened the opportunity for him to join our executive team where he will oversee our leasing and merchandising of our malls. We are convinced he will help us mine the opportunities that exist within our portfolio as the retail climate for leasing and retail sales continue to improve," said Arthur Coppola, Chairman and CEO.

"I am very excited to become involved with Macerich and their high quality portfolio of shopping centers.  The company has a great opportunity to capitalize on growing and improving its existing asset base through its management, leasing and development capabilities. Macerich is well positioned to take advantage of the current retail environment and the retailer bias toward high quality centers in major markets. I look forward to working with Art, Ed and the entire Macerich management team in accomplishing that objective," said Robert Perlmutter.

Macerich is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich now owns approximately 65 million square feet of gross leaseable area consisting primarily of interests in 65 regional centers.  Additional information about Macerich can be obtained from the Company's Web site at www.macerich.com.

SOURCE Macerich

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