Mall owner Macerich Co. said Tuesday it closed five major loan financings and committed to a sixth financing for a total of $1.05 billion.

The five transactions that closed totaled $895 million and generated excess proceeds above prior loans of $576 million, which was used to pay down Macerich’s line of credit, the Santa Monica-based company said. Interest rates were in the 4 percent range.

Southern California deals in the package included a $300 million combination construction-permanent loan for The Oaks in Thousand Oaks, which is undergoing a major renovation and expansion. Westside Pavilion in Los Angeles was refinanced June 5 with a new $175 million five-year loan. The company previously in May closed on a $100 million financing of The Mall of Victor Valley in Victorville.

The real estate investment trust owns about 77 million square feet of leasable area, mostly consisting of interests in 72 regional malls, which also include Santa Monica Place and Panorama Mall in Panorama City.

Macerich shares were down 49 cents, or 1 percent, to $53.54 in midday trading on the New York Stock Exchange.