Macerich's CEO Present At Citi Global Property CEO Conference (Transcript)

Macerich Co. ( MAC)

Citi Global Property CEO Conference Transcript

March 13, 2012 4:55 PM ET

Executives

Art Coppola – Chairman and CEO

Ed Coppola – President

Tom O'Hern – Chief Financial Officer

Analysts

Michael Bilerman – Citi

Presentation

Michael Bilerman – Citi

Well, we’re here at the 4:55 session at Citi Groups Global Property CEO Conference. We have saved, as I said the best for last. And we are very please to have with us Macerich, Art; and Ed Coppola; and Tom O'Hern.

Art, I’ll turn it over to you for some introductory remarks and then we’ll have some Q&A.

Art Coppola

Thank you. Can you hear me? Hello. Okay. All right. Thank you. All right Thank you for having us. We appreciate it. We are in a very good position today with our business and our company. I think that judging from the schedule many of you have already heard the presentation of several other mall companies. I would say that amongst Class A mall operators, our fundamentals are relatively the same.

They are very strong. The one difference would be that we have a large concentration in Arizona and Arizona in particular has been very strong, the last year and half. We have five regional grouping for our company. Southern California is our large concentration, Northern California, the Pacific Northwest to another one, Arizona is a third one, Midwest is another one and then the East Coast. And Arizona as a region has led our sales comps for five of the last six quarters.

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