CBL - Mergers and acquisitions

CBL Properties (NYSE:CBL) today announced two significant transactions that advance the company's strategic focus on accretively growing its mall portfolio and increasing cash flow through capital recycling. CBL has completed the acquisition of Gateway Mall, a market-dominant enclosed shopping center located in Lincoln, Nebraska, for a purchase price of $43.5 million from Washington Prime Group (WPG). The acquisition of Gateway Mall was financed through a $21.0 million non‑recourse, five‑year loan provided by Symetra Life Insurance Company. The loan carries a fixed interest rate of 6.46%. In a separate transaction, CBL has entered into a firm contract for the sale of an open‑air center

Acquisition is Highly Accretive to CBL's Run-Rate Cash Flow Per Share Modification of Existing Non-Recourse Bank Loan to Include Acquired Properties Significantly Extends CBL's Maturity Profile and Reduces Floating Rate Exposure CBL Properties (NYSE:CBL) today announced that it has acquired four dominant enclosed regional malls for $178.9 million from Washington Prime Group. The malls include Ashland Town Center in Ashland, KY, Mesa Mall in Grand Junction, CO, Paddock Mall in Ocala, FL, and Southgate Mall in Missoula, MT. This acquisition reinforces CBL's position as the preeminent owner and manager of successful enclosed malls in dynamic and growing middle markets. "We are thrilled t

CoolSprings Galleria in Nashville, TN, Oak Park Mall in Kansas City, KS, and West County Center in St. Louis, MO, Now Wholly Owned by CBL CBL Properties (NYSE:CBL) 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. "We are pleased to gain full control of these high-performing assets, which will allow us to more fully execute our visi

CBL Properties (NYSE:CBL) ("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. The adoption of the Rights Agreement is intended to protect the long-term interests of CBL and all CBL shareholders and enable them to realize the full potential value of their investment in the Company. The Rights Agreement is designed to reduce the likelihood that any entity, person or group would gain control of, or significant influence over, CBL