Macerich Co. on Monday said it sold a shopping mall and a mixed-use project, both in Indiana, and is under contract to sell three more malls later this month.
The Santa Monica real estate investment trust said proceeds from the sale of the mall will be about $470 million.
The company said it expected to close on the sale of three other malls by the end of the month, but did not give their locations. After all the deals are complete, Macerich will own or have interests in 57 regional shopping centers.
Shares closed down 97 cents, or 1.5 percent, to $63.94 on New York Stock Exchange.