CBL & Associates Properties
|Traded as||NYSE: CBL
S&P 600 component
|Industry||Real estate investment trust|
|Founder||Charles B. Lebovitz|
|Charles B. Lebovitz, Chairman
Stephen D. Lebovitz, CEO & President
Farzana Khaleel, CFO
|Revenue||$0.927 billion (2017)|
|$0.158 billion (2017)|
|Total assets||$5.704 billion (2017)|
|Total equity||$1.236 billion (2017)|
Number of employees
|Footnotes / references
CBL & Associates Properties, Inc. is a real estate investment trust that invests in shopping centers, primarily in the Southeastern United States and Midwestern United States. The company is organized in Delaware with its headquarters in Chattanooga, Tennessee. As of December 31, 2017, the company owned 105 properties.
The company's name is based on the initials of its founder, Charles B. Lebovitz.
In 1961, Moses Lebovitz, his son, Charles B. Lebovitz, and Jay Solomon founded Independent Enterprises.
In 1998, the company acquired 5 properties near Nashville, Tennessee for $247.4 million in cash and securities. It also acquired Meridian Mall and Janesville Mall for $68 million in cash and $52 million in partnership units.
In 2007, the company acquired 4 malls in the St. Louis area for $1.03 billion. In 2016, the Chesterfield Mall, which was one of the 4 acquired malls, went into receivership after the company defaulted on its mortgage loan.
In 2011, the company acquired Northgate Mall in Chattanooga, Tennessee, which was built by its predecessor, Arlen Shopping Center Group, under the direction of Charles B. Lebovitz in 1972 and was later sold. In 2012, the company announced multi-million dollar renovation of the property.
- "CBL & Associates Properties, Inc. 2016 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- Pare, Mike (July 30, 2017). "Retail powerhouse Hamilton Place mall turns 30". Chattanooga Times Free Press.
- "COMPANY BRIEFS". The New York Times. April 5, 1995.
- "COMPANY NEWS; 5 NASHVILLE SHOPPING CENTERS SOLD FOR $247 MILLION". The New York Times. Bloomberg News. June 25, 1998.
- "CBL & ASSOCIATES TO BUY TWO MALLS IN THE MIDWEST". The New York Times. Bloomberg News. August 28, 1998.
- "CBL Shareholders OK $1.3 Bln Acquisition of Mall Portfolio". Commercial Real Estate Direct. January 18, 2001.
- "CBL & Associates Properties Announces Grand Opening of Imperial Valley Mall in Southern California; Majority of Retailers at Imperial Valley Mall Make Their Debut in the Market" (Press release). Business Wire. March 9, 2005.
- "CBL & Associates Properties Acquires Super-Regional Mall in Lafayette, Louisiana; The Mall of Acadiana Marks CBL's First Property in Louisiana" (Press release). Business Wire. July 14, 2005.
- "CBL & Associates Properties to Acquire Three-Mall Portfolio for $516.9 Million" (Press release). Business Wire. October 17, 2005.
- Pardy, Sasha M. (October 17, 2007). "CBL Closes on Four St. Louis Malls for $1.03B". CoStar Group.
- Drummer, Randyl (August 16, 2016). "CBL's Chesterfield Mall Headed for Receivership". CoStar Group.
- "CBL to Acquire Northgate Mall in Chattanooga, TN" (Press release). Business Wire. September 22, 2011.
- Pare, Mike (September 22, 2011). "CBL buying Chattanooga's Northgate Mall". Chattanooga Times Free Press.
- Pare, Mike (October 14, 2012). "Chattanooga's Northgate Mall to get multimillion dollar revamp". Chattanooga Times Free Press.
- Hoyle, Amanda (November 30, 2015). "Mall owner CBL sells Belk-anchored shopping center". American City Business Journals.
- Hoyle, Amanda (June 18, 2015). "CBL buys big Wilmington retail center for $192 million, Raleigh mall sale still pending". American City Business Journals.
- Hoyle, Amanda (April 4, 2016). "InvenTrust Properties makes huge retail buy in Durham with $129 million acquisition of Renaissance Center". American City Business Journals.
- Heschmeyer, Mark (July 25, 2016). "Three CBL Malls Sold for $75.1 Million". CoStar Group.
- "CBL & Associates Properties, Inc. Acquires Five Sears Stores for Future Redevelopment Through Sale-Leaseback" (Press release). Business Wire. January 30, 2017.
- Heschmeyer, Mark (January 30, 2017). "CBL Acquires Seven Retail and Auto Centers from Sears in Sale-Leaseback". CoStar Group.
- "Gigamon, CBL & Associates Properties and Cytokinetics Set to Join S&P SmallCap 600" (Press release). PR Newswire. April 17, 2017.