NEW YORK CITY-Macerich Cos., a Santa Monica,CA-based retail REIT with 62 regional shopping centers in its USportfolio, has snatched up two of the largest malls in the New Yorkmetropolitan area. According to a statement released Mondaymorning, the company has acquired the Kings Plaza Mall in Brooklynand the Green Acres Mall in Valley Stream, NY, for approximately$1.25 billion.

Macerich acquired Kings Plaza from a subsidiary ofAlexander’s Inc., a publicly-traded REIT that isone-third owned by Vornado, for a purchase price of $751 million.The mall – anchored by Macy’s, Sears, Best Buy and Lowe’s HomeImprovement – is 95% occupied by tenants such as Aeropostale,American Eagle, Armani Exchange, Forever 21, H&M, Swarovski andVictoria’s Secret. The company expects to place secured debt on theproperty at the closing of the transaction, which is planned towrap up in late 2012.

In Nassau County, Macerich acquired the Green Acres Mall from asubsidiary of Vornado Realty Trust, for $500million. The mall – located on the border of New York City –expanded in 2007, and has approximately 408,000 square feet ofin-line mall tenant space that includes Modell’s Sporting Goods,H&M and Forever 21. It is 94% occupied, with annual sales perfoot of $520 and anchors like Macy’s, Kohl’s, JCPenney, Sears andOld Navy. The deal is expected to close in the first quarter of2013.