Macerich is acquiring a one-third ownership stake in the Superstition Springs Mall and the Arrowhead Towne Center in Phoenix, Arizona. The malls are being sold by General Growth Properties (GGP) for $75 million in cash.

As part of the transaction, GGP will obtain six anchor stores in four states from Macerich. The shopping malls are around 95% occupied and are anchored by Dillard’s, JC Penney, Macy’s and Sears.

Click here for the release from PR Newswire.