Articles from CBL Properties

CBL Properties (NYSECBL) today announced that it had closed on the sale of Monroeville Mall and Annex in Monroeville, PA, for $34.0 million, all cash.

CBL Properties (NYSECBL) today announced tax reporting (Federal 1099) information for the 2024 distributions on its Common stock.

CBL Properties (NYSECBL) today announced that it had closed on the acquisition of its partner’s 50% joint venture interests in CoolSprings Galleria in Nashville, TN, Oak Park Mall in Kansas City, KC, and West County Center in St. Louis, MO. The interests were acquired for a total cash consideration of $22.5 million. CBL also assumed an aggregate $266.7 million in three non-recourse loans, secured individually by each of the assets.

CBL Properties (NYSECBL) announced results for the third quarter ended September 30, 2024. Results of operations as reported in the consolidated financial statements for these periods are prepared in accordance with GAAP. A description of each supplemental non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is located at the end of this news release.

CBL Properties (NYSECBL) today announced that its Board of Directors had approved an accelerated record and payment date for the cash dividend of $0.40 per common share for the quarter ending December 31, 2024, previously declared on October 14, 2024. The dividend, which equates to an annual dividend payment of $1.60 per common share, is now payable on December 11, 2024, to shareholders of record as of November 25, 2024.

CBL Properties (NYSECBL) today announced Crunch Fitness opens at Hamilton Place in Chattanooga, Tennessee, today, as one of the final components of the property’s Sears redevelopment project. The redevelopment, which commenced in 2019, brought a variety of new destinations to the property, including The Cheesecake Factory, Mean Mug Coffeehouse, Malone’s, Dave & Buster’s, DICK’S Sporting Goods, and an Aloft by Marriott hotel.

CBL Properties (NYSECBL) today announced that its Board of Directors has declared a cash dividend of $0.40 per common share for the quarter ending December 31, 2024. The dividend, which equates to an annual dividend payment of $1.60 per common share, is payable on December 31, 2024, to shareholders of record as of December 13, 2024.

CBL Properties (NYSECBL) today announced that it completed the repurchase of 500,000 shares of CBL stock for $12.525 million, in a privately negotiated block trade from a single shareholder. The block repurchase was completed separately from CBL’s existing stock repurchase program described below.

CBL Properties (NYSECBL) today announced that it had closed on the sale of Layton Hills Convenience Center, Layton Hills Plaza and nine related outparcels in Layton (Salt Lake City), UT, to an unaffiliated third party for $28.5 million, all cash. Layton Hills Convenience Center and Plaza served as collateral under CBL’s non-recourse term loan. The nine improved outparcels served as collateral under CBL’s non-recourse open-air and outparcel loan. Net proceeds from the sale were applied to the term loan principal balance and open-air and outparcel loan, as applicable. After closing the term loan balance was reduced to a current balance of $730.8 million and the open-air and outparcel loan balance was reduced to a current balance of $340.1 million.

CBL Properties (NYSECBL) announced results for the second quarter ended June 30, 2024. Results of operations as reported in the consolidated financial statements for these periods are prepared in accordance with GAAP. A description of each supplemental non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is located at the end of this news release.

CBL Properties (NYSECBL) today announced that its Board of Directors has declared a cash dividend of $0.40 per common share for the quarter ending September 30, 2024. The dividend, which equates to an annual dividend payment of $1.60 per common share, is payable on September 30, 2024, to shareholders of record as of September 13, 2024.

CBL Properties (NYSECBL) today announced that it had closed on the sale of Layton Hills Mall in Layton (Salt Lake City), UT, to Second Horizon Capital for $37.125 million, all cash. The property served as collateral under CBL’s non-recourse term loan. Net proceeds from the sale were applied to the term loan principal balance, which after closing, was reduced to $749.8 million.

Today CBL Properties (NYSECBL) announced that Atrium Health Wake Forest Baptist Medical Plaza has opened at Friendly Center in Greensboro, North Carolina. The new center was developed in a joint venture with Davis Moore Capital. Representatives from CBL and Atrium Health Wake Forest Baptist marked this occasion last week with a ribbon cutting and community celebration.

Today CBL Properties (NYSECBL) announced the addition of several new and exciting stores at Mayfaire Town Center in Wilmington, NC, including Free People and FP Movement as well as significant upgrades to current tenants, Reeds Jewelers and lululemon.

CBL Properties (NYSECBL) announced results for the first quarter ended March 31, 2024. Results of operations as reported in the consolidated financial statements for these periods are prepared in accordance with GAAP. A description of each supplemental non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is located at the end of this news release.

CBL Properties (NYSECBL) today announced that its Board of Directors has declared a cash dividend of $0.40 per common share for the quarter ending June 30, 2024. The dividend, which equates to an annual dividend payment of $1.60 per common share, is payable on June 28, 2024, to shareholders of record as of June 13, 2024.

Today CBL Properties (NYSECBL) announced it has executed multiple deals with global lifestyle retailer MINISO, expanding the brand’s presence to a dozen new markets in the United States. The first wave of store openings started in November 2023 at Valley View Mall in Roanoke, Virginia, and Hanes Mall in Winston-Salem, North Carolina, followed by the January 2024 opening at Coastal Grand Mall in Myrtle Beach, South Carolina. Throughout the rest of 2024, stores will open at CoolSprings Galleria (Nashville, TN), Hamilton Place (Chattanooga, TN), West County Center and South County Center (St. Louis, MO), Parkway Place (Huntsville, AL), Post Oak Mall (Waco, TX), Fayette Mall (Lexington, KY), Westmoreland Mall (Greensburg, PA), Oak Park Mall (Overland Park, KS), and Kirkwood Mall (Bismarck, ND).

CBL Properties (NYSECBL) today announced that it has partnered with Adeptmind, a leading technology company specializing in artificial intelligence and e-commerce, to launch “Inventory Insider” at two of its Tennessee properties, CoolSprings Galleria (Nashville) and Hamilton Place (Chattanooga). Inventory Insider leverages Adeptmind’s technology to give shoppers online access to all the products carried by each local retailer in one centralized location on the mall’s website.

CBL Properties (NYSECBL) announced results for the fourth quarter and year ended December 31, 2023. Results of operations as reported in the consolidated financial statements for these periods are prepared in accordance with GAAP. A description of each supplemental non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is located at the end of this news release.

CBL Properties (NYSECBL) today announced that its Board of Directors has declared a cash dividend of $0.40 per common share for the quarter ending March 31, 2024, a 6.7% increase from the previous quarterly dividend rate. The dividend, which equates to an annual dividend payment of $1.60 per common share, is payable on March 29, 2024, to shareholders of record as of March 15, 2024.

CBL Properties (NYSECBL) today announced tax reporting (Federal 1099) information for the 2023 distributions on its Common stock.

Over the last several months, CBL Properties (NYSECBL) has welcomed a number of new retail, service, entertainment and restaurant concepts to its portfolio with more openings planned for 2024 and beyond.

CBL Properties (NYSECBL) announced results for the third quarter ended September 30, 2023. Results of operations as reported in the consolidated financial statements for these periods are prepared in accordance with GAAP. A description of each supplemental non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is located at the end of this news release.

CBL Properties (NYSECBL) today announced that its Board of Directors has declared a cash dividend of $0.375 per common share for the quarter ending December 31, 2023. The dividend, which equates to an annual dividend payment of $1.50 per common share, is payable on December 29, 2023, to shareholders of record as of December 12, 2023.

CBL Properties (NYSECBL) today announced that it has achieved Great Place to Work® Certification™ for 2023. This prestigious designation is based on the results of a recently conducted survey of CBL’s current employees regarding their experience working at CBL. An overwhelming 95% of employees said CBL is a great place to work – 38 points higher than the average U.S. company.

CBL Properties (NYSECBL) today announced that it has published its first ESG Progress Update that focuses on the Company’s accomplishments in 2022 and provides an update on its 2023 goals as well as a look ahead.

CBL Properties (NYSECBL) today announced that it, along with its 50% joint venture partner, Horizon Group Properties, closed a new $79.3 million loan ($39.7 million at CBL’s 50% share) secured by The Outlet Shoppes of Atlanta, the premier outlet shopping destination located in Woodstock, GA. The new non-recourse ten-year loan bears a fixed interest-only rate of 7.85% and replaces two loans with an aggregate balance of $69.5 million (at 100%) that were set to mature in November 2023.

CBL Properties (NYSECBL) today announced that its Board of Directors authorized a stock repurchase program for the Company to buy up to $25 million of its common stock.

CBL Properties (NYSECBL) announced results for the second quarter ended June 30, 2023. Results of operations as reported in the consolidated financial statements for these periods are prepared in accordance with GAAP. A description of each supplemental non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is located at the end of this news release.

CBL Properties (NYSECBL) today announced that its Board of Directors has declared a cash dividend of $0.375 per common share for the quarter ending September 30, 2023. The dividend, which equates to an annual dividend payment of $1.50 per common share, is payable on September 29, 2023, to shareholders of record as of September 15, 2023.

CBL Properties (NYSECBL) today announced that during the first half of 2023 the Company celebrated multiple new store openings as a result of sustained tenant demand at its properties and its active redevelopment pipeline.

CBL Properties (NYSECBL) today announced exciting additions to the Hamilton Place complex in Chattanooga, Tennessee. Crunch Fitness will occupy approximately 35,000 square feet on the upper level of the former Sears next to Dave & Busters. In addition, Texas Roadhouse and two popular local restaurants, Taco Mamacita and Community Pie will open on the Hamilton Place campus in the coming year.

CBL Properties (NYSECBL) today announced that Michael A. Torres has been appointed to the Company’s board of directors. Mr. Torres was also appointed to serve as a member of the Company’s Audit Committee.

CBL Properties (NYSECBL) today announced that Benjamin Staples has joined CBL as the company’s senior vice president – people & culture. Staples brings more than 20 years of experience supporting, leading, and directing human resources (HR) operations and initiatives, most recently serving as vice president of human resources and diversity for Kenco Group.

CBL Properties (NYSECBL) today announced the promotion of three executive leaders: Katie Reinsmidt was promoted to Executive Vice President – Chief Operating Officer, Jennifer Cope to Executive Vice President – Operations Services & Risk Management and Joseph Khalili to Executive Vice President – Financial Planning & Analysis.

CBL Properties (NYSECBL) announced results for the first quarter ended March 31, 2023. Results of operations as reported in the consolidated financial statements for these periods are prepared in accordance with GAAP. A description of each supplemental non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is located at the end of this news release.

CBL Properties (NYSECBL) today announced that its Board of Directors has declared a cash dividend of $0.375 per common share for the quarter ending June 30, 2023. The dividend, which equates to an annual dividend payment of $1.50 per common share, is payable on June 30, 2023, to shareholders of record as of June 14, 2023.

CBL Properties (NYSECBL) today announced that Derek Young has joined CBL as the company’s initial vice president – ESG. Prior to joining CBL, Young spent more than six years at Summit Strategy Group, a California-based corporate consultancy specializing in public affairs, Environment, Social and Governance (ESG), and healthcare.

CBL Properties (NYSECBL) today provided an update on recent financing activity, including details on nearly $305 million in closed transactions.

CBL Properties (NYSECBL) and Nordstrom Inc. today announced that Nordstrom Rack will celebrate its grand opening on Thursday, May 18, at The Terrace, an open-air center in Chattanooga, TN. The 24,000 square-foot store will be Nordstrom Rack’s third location in the state and the fourth Nordstrom concept in Tennessee.

CBL Properties (NYSECBL) today announced the promotions of Randy Owens to Senior Vice President – Leasing and Jason Shelton to Vice President – Leasing.

CBL Properties (NYSECBL) announced results for the fourth quarter and year ended December 31, 2022. Financial results for the periods from January 1, 2021, through October 31, 2021, and for the month ended October 31, 2021, are referred to as those of the “Predecessor” period. Financial results for the periods from November 1, 2021 through December 31, 2021; and, from January 1, 2022, through December 31, 2022, are referred to as those of the “Successor” period. Results of operations as reported in the consolidated financial statements for these periods are prepared in accordance with GAAP. A description of each supplemental non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is located at the end of this news release.

CBL Properties (NYSECBL) today announced that its Board of Directors has declared a cash dividend of $0.375 per common share for the quarter ending March 31, 2023, a 50% increase from the previous quarterly dividend rate of $0.25 per share. The dividend, which equates to an annual dividend payment of $1.50 per common share, is payable on March 31, 2023, to shareholders of record as of March 15, 2023.

CBL Properties (NYSECBL) today announced that Kaj Vazales has notified the Company of his resignation from CBL’s Board of Directors effective January 26, 2023, and the Board has accepted his resignation. The departure is the result of a change in Mr. Vazales’ principal occupation. Mr. Vazales formerly served as Managing Director and Co-Head of North America for Oaktree’s Global Operations Strategy. He joined CBL’s board in November 2021, following CBL’s successful restructuring.

CBL Properties (NYSECBL) today announced that Jonathan Heller is resigning as Chairman of the Board, effective January 25, 2023. Mr. Heller notified the Company that he is stepping down as Chairman to focus his time and energy on building his new investment firm, Helix Partners. Mr. Heller joined CBL’s board in October 2021 and became its Chairman in November 2021, in conjunction with CBL’s successful restructuring.

CBL Properties (NYSECBL) today announced tax reporting (Federal 1099) information for the 2022 distributions on its Common stock.

CBL Properties (NYSECBL) and Vision Hospitality Group, Inc. today announced plans to develop a 139-room Element by Westin at Mayfaire Town Center in Wilmington, North Carolina. The new hotel marks the brand’s entrance into the Wilmington market. The 83,000-square-foot hotel will be located on International Drive.

CBL Properties (NYSECBL) today announced that more than 1 million square feet of new retail, dining, entertainment, and other uses have opened across its portfolio since January.

CBL Properties (NYSECBL) today announced that a wide range of retailers, restaurants, and other uses that offer visitors unique, one-of-a-kind experiences and gifts have opened in properties across its portfolio, and are available for only a short time during the holiday season.

CBL Properties (NYSECBL) today announced the addition of Tilt Studios to its two North Dakota properties, Dakota Square in Minot and Kirkwood Mall in Bismarck, as well as Stars and Strikes at Coastal Grand in Myrtle Beach, South Carolina, and Main Event at Cross Creek Mall in Fayetteville, North Carolina.

CBL Properties (NYSECBL) today announced that it has achieved Great Place to Work Certification™. This prestigious designation is based on the results of a recently conducted survey of CBL’s current employees regarding their experience working at CBL. An overwhelming 89% of employees said CBL is a great place to work – 32 points higher than the average U.S. company.

CBL Properties (NYSECBL) today announced that its Board of Directors has declared a special dividend of $2.20 per share of common stock, payable all in cash. The Special Dividend is payable on January 18, 2023, to stockholders of record as of the close of business on December 12, 2022. The special dividend equates to an aggregate cash amount of approximately $70.0 million.

CBL Properties (NYSECBL) announced results for the third quarter ended September 30, 2022. Financial results for the periods from January 1, 2021, through September 30, 2021, are referred to as those of the “Predecessor” period. Financial results for the period from January 1, 2022, through September 30, 2022, are referred to as those of the “Successor” period. Results of operations as reported in the consolidated financial statements for these periods are prepared in accordance with GAAP. A description of each supplemental non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is located at the end of this news release.

CBL Properties (NYSECBL) today announced that its Board of Directors has declared a dividend of $0.25 per common share, payable in all cash, for the quarter ending December 31, 2022. The dividend, which equates to an annual dividend payment of $1.00 per common share, is payable on December 30, 2022, to shareholders of record as of December 1, 2022.

On Saturday, October 15, CBL Properties (NYSECBL), Von Maur, and hundreds of community members celebrated the opening of the premier fashion department store at West Towne Mall in Madison, Wisconsin. Events included a ribbon cutting featuring executives from Von Maur and CBL, as well as mall-wide, family-friendly activities and giveaways.

CBL Properties (NYSECBL) (“CBL” or the “Company”) announced that its Board of Directors today adopted a Stockholder Protection Rights Agreement (“Rights Agreement”) and declared a dividend of one right on each outstanding share of CBL common stock. The record date to determine stockholders entitled to receive the rights is September 22, 2022.

CBL Properties (NYSECBL) today announced that Farzana Khaleel will step down as CBL’s executive vice president – chief financial officer as of December 31, 2022. CBL also announced that Ben Jaenicke will join the company as executive vice president – finance on September 1st and will begin serving as EVP – CFO as of January 1, 2023. To provide for a smooth transition, Ms. Khaleel will enter into a consulting arrangement with the company to provide advisory services through March 31, 2023, with one three-month extension available, at the company’s option.

CBL Properties (NYSECBL) announced results for the second quarter ended June 30, 2022. Financial results for the periods from January 1, 2021, through June 30, 2021, are referred to as those of the “Predecessor” period. Financial results for the period from January 1, 2022, through June 30, 2022, are referred to as those of the “Successor” period. Results of operations as reported in the consolidated financial statements for these periods are prepared in accordance with GAAP. A description of each supplemental non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is located at the end of this news release.

CBL Properties (NYSECBL) today announced that its board of directors has declared a dividend of $0.25 per common share, payable in all cash, for the quarter ending September 30, 2022. The dividend, which equates to an annual dividend payment of $1.00 per common share, is payable on September 30, 2022, to shareholders of record as of September 15, 2022.

CBL Properties (NYSECBL) today announced that Jeff Kivitz has been appointed to the company’s board of directors. Mr. Kivitz was also appointed to serve as a member of the company’s compensation committee and nominating/corporate governance committee.

CBL Properties (NYSECBL) today announced completed redevelopment projects at Kirkwood Mall in Bismarck, North Dakota; Sunrise Mall in Brownsville, Texas; and Cross Creek Mall in Fayetteville, North Carolina with more planned in the coming months.

CBL Properties (NYSECBL) today announced that its Board of Directors has established a regular quarterly cash dividend. The Board of Directors declared a dividend of $0.25 per common share, payable in all cash, for the quarter ending June 30, 2022. The dividend, which equates to an annual dividend payment of $1.00 per common share, is payable on July 20, 2022, to shareholders of record as of July 11, 2022.

CBL Properties (NYSECBL) today announced that it has partnered with the Tennessee, Mississippi, & Alabama chapter of Susan G. Komen, the world’s leading breast cancer organization, to host its MORE THAN PINK walk at two of CBL’s premier properties, Hamilton Place in Chattanooga and CoolSprings Galleria in Nashville.

CBL Properties (NYSECBL) today announced that its wholly owned subsidiary, CBL & Associates Holdco II, LLC, had completed the redemption of all $335.0 million outstanding 10% Senior Secured Notes due 2029 (the “10% Notes”). The redemption was funded utilizing proceeds from a new $360.0 million non-recourse loan secured by a pool of high-quality outparcels and open-air centers. Upon the full redemption of the 10% Notes, the recourse guaranty was eliminated. CBL’s share of unencumbered NOI is an estimated $75 million.

CBL Properties (NYSECBL) today announced that its latest investor presentation is available on its website.

CBL Properties (NYSECBL) today announced the planned redemption of all $335.0 million outstanding 10% Senior Secured Notes. CBL will fund the redemption utilizing proceeds from a new $360.0 million non-recourse loan to be secured by a pool of high-quality outparcels and open-air centers.

CBL Properties (NYSECBL) today announced that it has completed a partial redemption of outstanding 10% Senior Secured Notes. The Notes were redeemed utilizing CBL’s share of net proceeds from the previously announced new $65.0 million non-recourse loan.

CBL Properties (NYSECBL) announced results for the first quarter ended March 31, 2022. Financial results for the periods from January 1, 2021, through March 31, 2021, are referred to as those of the “Predecessor” period. Financial results for the period from January 1, 2022, through March 31, 2022, are referred to as those of the “Successor” period. Results of operations as reported in the consolidated financial statements for these periods are prepared in accordance with GAAP. A description of each supplemental non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is located at the end of this news release.

CBL Properties (NYSECBL) today announced that Jon Meshel has rejoined CBL as senior vice president – redevelopment after spending the last three years overseeing mixed-used redevelopments at Centennial. Prior to joining Centennial in 2019, he spent 20 years at CBL working on all aspects of regional mall and mixed-use projects.

CBL Properties (NYSECBL) today announced that, along with its 50% joint venture partners, it has closed on a new $40.0 million, ten-year, non-recourse loan secured by The Shoppes at Eagle Point, a Publix-anchored shopping center in Cookeville, TN. CBL and its joint venture partner opened the newly developed center in 2018. The new loan bears a fixed interest rate of 5.4%. Proceeds from the new loan were utilized to retire the existing $33.9 million partial recourse loan, which was set to mature in October.

CBL Properties (NYSECBL) today announced that it has entered into a term sheet for a new $65.0 million non-recourse loan. CBL also announced a partial redemption of outstanding 10% Senior Secured Notes utilizing its share of net proceeds from the new financing and available cash.

CBL Properties (NYSECBL) announced results for the fourth quarter and year ended December 31, 2021. A description of each supplemental non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is located at the end of this news release.

CBL Properties (NYSECBL) has joined the growing coalition of companies pledging to advance diversity and inclusion in the workplace.

CBL Properties (“CBL & Associates Properties, Inc.,” “CBL,” or the “Company”) (NYSECBL) today announced that its wholly-owned subsidiary, CBL & Associates Holdco II, LLC (the “Issuer”), had completed the exchange of all of the $150 million aggregate principal amount of the Issuer’s 7% Exchangeable Secured Notes due 2028 (the “Exchangeable Notes”).

CBL Properties (NYSECBL) today announced that it has partnered with Hinton & Company on its diversity, equity, inclusion, and belonging initiatives. Founded by Wade Hinton, Hinton & Company is a professional services firm that works with organizations like CBL to create impact through inclusion.