CBL Continues Mall Disposition Progress with Sale of Bonita Lakes Mall and Crossing in Meridian, MS
CBL & Associates Properties, Inc. (NYSE: CBL) today announced that it closed on the sale of Bonita Lakes Mall and Bonita
Lakes Crossing in Meridian, MS for $27.91 million to RockStep Capital. Proceeds from the transaction will be used to reduce
outstanding balances on CBL’s lines of credit.
“With the completion of our third mall sale this year, we are pleased to demonstrate additional progress on our portfolio
transformation,” said Stephen Lebovitz, CBL’s President & CEO. “The sale of Bonita Lakes improves our overall portfolio quality
and provides equity proceeds to reduce leverage and enhance our liquidity position. We have completed more than $386 million in
dispositions year-to-date and look forward to making additional announcements throughout the year.”
About CBL & Associates Properties, Inc.
Headquartered in Chattanooga, TN, 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 145 properties, including 91 regional malls/open-air centers. The
properties are located in 31 states and total 84.9 million square feet including 8.0 million square feet of non-owned shopping
centers managed for third parties. 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.
Investor Contact:
Katie Reinsmidt, 423-490-8301
Senior Vice President - Investor Relations and Corporate Investments
katie.reinsmidt@cblproperties.com
or
Media Contact:
Stacey Keating, 423-490-8361
Director of Public Relations
stacey.keating@cblproperties.com
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