CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
CBL & Associates Properties, Inc. (NYSE:CBL) announced that it has
closed on the sale of Lakeshore Mall in Sebring, FL, to a private buyer
for $14.0 million.
“We are pleased to advance our strategic objective of selling lower
productivity malls with the disposition of Lakeshore Mall,” said Stephen
Lebovitz, CBL’s president & chief executive officer. “We are also
achieving progress with our additional disposition efforts and look
forward to making announcements over the coming months.”
Margaret Caldwell and Kris Cooper of Jones Lang LaSalle represented CBL
in the transaction.
About CBL & Associates Properties, Inc.
CBL is one of the largest and most active owners and developers of malls
and shopping centers in the United States. CBL owns, holds interests in
or manages 150 properties, including 90 regional malls/open-air centers.
The properties are located in 30 states and total 86.9 million square
feet including 6.3 million square feet of non-owned shopping centers
managed for third parties. Headquartered in Chattanooga, TN, CBL has
regional offices in Boston (Waltham), MA, Dallas (Irving), TX, and St.
Louis, MO. Additional information can be found at cblproperties.com.
Forward-Looking Statements
Information included herein contains "forward-looking statements"
within the meaning of the federal securities laws.Such
statements are inherently subject to risks and uncertainties, many of
which cannot be predicted with accuracy and some of which might not even
be anticipated.Future events and actual events, financial and
otherwise, may differ materially from the events and results discussed
in the forward-looking statements.The reader is directed to the
Company's various filings with the Securities and Exchange Commission,
including without limitation the Company's Annual Report on Form 10-K
and the "Management's Discussion and Analysis of Financial Condition and
Results of Operations" included therein, for a discussion of such risks
and uncertainties.
CBL & Associates Properties, Inc.
Katie Reinsmidt, 423-490-8301
Senior
Vice President -
Investor Relations and Corporate Investments
katie_reinsmidt@cblproperties.com
Source: CBL & Associates Properties, Inc.