Christian Bautista

Former Warriors GM Buys $19M Santa Monica Mansion

Los Angeles

Former Warriors GM makes priciest Santa Monica home buy this year

Isabella Farr

Here’s Where WeWork is Canceling Office Leases in LA, OC

WeWork cancels six leases in LA, OC — but 15 locations still in flux

Kari Hamanaka

Kirk Lazarus Asks $99K per Month for Santa Monica Estate

Hotel designer asks $99K per month for Santa Monica beach pad

Natalie Hoberman

Santa Monica files criminal charges against Neil Shekhter’s son for tenant harassment

Dennis Lynch

Santa Monica’s 92-year-old “House of Rock” sells for $16M

TRD Staff

Snap wants to vanish from Venice Beach

Despite discounts, Snap Inc. struggles to sublease Venice properties

Daria Solovieva

Santa Monica’s reputation makeover

Gregory Cornfield

Rockwood Capital buys historic Santa Monica Clock Tower Building

J.P. Morgan's Mary Callahan Erdoes and Water Garden at 1620 26th Street in Santa Monica (Getty, Water Garden LA)

Water Garden asking price: $1.4B

All Markets

National

New York

San Francisco

Santa Monica

LA luxe resi contracts slide to $76M in asking volume

Macerich’s Santa Monica Place Value Falls to $255 Million

Macerich sees value of Santa Monica Place fall to $255M as it seeks buyer

Real Estate Agents on Santa Monica’s Market Evolution

Santa Monica’s resi market on the rise

Former Warner Bros. CEO scoops up Santa Monica home

Former Santa Monica mayor campaigns to amend city’s transfer tax

Macerich, the third-largest mall owner in the country, is getting a new CEO and president, all wrapped up in one. The Santa Monica-based company has tapped Jackson Hsieh as its new CEO and president, effective Feb. 29, according to an SEC filing on Monday. Hsieh was most recently the CEO of Spirit Realty Capital, until its $9.3 billion merger with Realty Income last month. Macerich CEO Thomas O’Hern and its president and co-founder, Edward Coppola, will both retire at the end of February. Both will continue to serve on the company’s board. O’Hern had served as the company’s CEO since 2018. Before that, he was Macerich’s chief financial officer for 25 years. Coppola, who helped found Macerich in the 1970s, assumed the role of president in 2008. Hsieh had served as CEO of Spirit Realty since 2017 and previously worked as an investment banker at Morgan Stanley. As Macerich’s CEO, his base salary will be $1 million a year, with the potential to earn 150 percent of his annual base salary as equity or cash bonuses. He will also receive a $5 million sign-on equity bonus, which will vest over time. Many mall owners have struggled with maturing loans over the last few years, given rising interest rates and inflation hurting consumer pockets. A number of retailers — Bed Bath & Beyond, David’s Bridal and Tuesday Morning — have filed for bankruptcy or liquidated over the last year. Macerich has managed to modify or extend a number of its loans, according to SEC filings, including a $300 million debt package on Santa Monica Place, a 527,000-square-foot shopping center that lost two anchor tenants during the pandemic. The company owns 45 malls in 13 states, according to its website.

Macerich taps former Spirit Realty chief Jackson Hsieh as new boss

Santa Monica

Former Warriors GM makes priciest Santa Monica home buy this year

WeWork cancels six leases in LA, OC — but 15 locations still in flux

Hotel designer asks $99K per month for Santa Monica beach pad

The Latest