<ARTICLE>                     5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 
CONSOLIDATED BALANCE SHEETS AND CONSOLIDATED STATEMENTS OF OPERATIONS FOUND ON
PAGES 1 AND 2 OF THE COMPANY'S FORM 10Q FOR THE YEAR.

</LEGEND>
<CIK>                                          0000912242
<NAME>                                         THE MACERICH COMPANY
<MULTIPLIER>                                   1,000
<CURRENCY>                                     0
       
                                          
<PERIOD-TYPE>                                  3-MOS
<FISCAL-YEAR-END>                              DEC-31-1999
<PERIOD-START>                                 JAN-01-1999
<PERIOD-END>                                   MAR-31-1999
<EXCHANGE-RATE>                                1
<CASH>                                         23,879
<SECURITIES>                                   0
<RECEIVABLES>                                  33,707
<ALLOWANCES>                                   0
<INVENTORY>                                    0
<CURRENT-ASSETS>                               0
<PP&E>                                         2,232,946
<DEPRECIATION>                                 (259,424)
<TOTAL-ASSETS>                                 2,401,653
<CURRENT-LIABILITIES>                          21,488
<BONDS>                                        1,614,997
<PREFERRED-MANDATORY>                          91
<PREFERRED>                                    0
<COMMON>                                       340
<OTHER-SE>                                     569,737
<TOTAL-LIABILITY-AND-EQUITY>                   2,401,653
<SALES>                                        0
<TOTAL-REVENUES>                               78,849
<CGS>                                          0
<TOTAL-COSTS>                                  24,668
<OTHER-EXPENSES>                               17,558
<LOSS-PROVISION>                               0
<INTEREST-EXPENSE>                             26,753
<INCOME-PRETAX>                                0
<INCOME-TAX>                                   0
<INCOME-CONTINUING>                            9,870
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                (973)
<CHANGES>                                      0
<NET-INCOME>                                   8,897
<EPS-PRIMARY>                                  0.26
<EPS-DILUTED>                                  0.26