<div id="subtitle">Macerich, private equity firm announce joint venture in Colo. mall</div><div><p>The operating partnership of Macerich Co., a real estate investment trust that invests in shopping malls, and a private equity firm announced Thursday a joint venture in a Colorado mall.</p><p>Under terms of the deal, the Macerich Partnership LP receives about $116 million in cash for FlatIron Crossing, a Broomfield, Colo., mall, and GI Partners, based in London and Menlo Park, Calif., acquires a 75 percent interest in the shopping center.</p><p>FlatIron Crossing is a 1.4 million-square-foot regional mall. Annual tenant sales were $443 per square foot last year, Macerich said. The mall, which has a 97 percent occupancy rate, was built in 2000 and acquired by Macerich in 2002.</p><p>Edward C. Coppola, president of Macerich, said the deal is "another example of Macerich executing on its deleveraging strategy" by tapping into capital in a high-performing retail property.</p><p>Shares rose 72 cents, or 2.8 percent, to close at $26.15.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=57999661&bid=informcom" /></div><div id="copyright"><div>

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