CORRECTING and REPLACING CBL Properties Announces Sale of Imperial Valley Mall for $38.1 Million
CBL Properties (NYSE:CBL) has successfully completed the sale of Imperial Valley Mall in El Centro, CA, for $38.1 million in an all-cash transaction. The mall property, which served as collateral under CBL's non-recourse term loan, generated net proceeds that were applied to reduce the term loan principal balance to $680.3 million.
CEO Stephen D. Lebovitz highlighted that this sale demonstrates continued demand for stable enclosed malls and positions CBL to meet its non-recourse term loan principal balance extension test in November 2025 without requiring additional capital beyond scheduled amortization. The transaction has contributed to strengthening CBL's balance sheet by reducing total debt and extending their maturity schedule.
CBL Properties (NYSE:CBL) ha completato con successo la vendita del Imperial Valley Mall a El Centro, CA, per 38,1 milioni di dollari in un'operazione interamente in contante. La proprietà del centro commerciale, che fungeva da garanzia per il prestito a termine non ricorsivo di CBL, ha generato proventi netti che sono stati utilizzati per ridurre il saldo principale del prestito a 680,3 milioni di dollari.
Il CEO Stephen D. Lebovitz ha sottolineato che questa vendita dimostra la continua domanda per centri commerciali chiusi stabili e posiziona CBL per soddisfare il test di estensione del saldo principale del prestito a termine non ricorsivo a novembre 2025 senza richiedere capitale aggiuntivo oltre all'ammortamento programmato. La transazione ha contribuito a rafforzare il bilancio di CBL riducendo il debito totale e prolungando il loro programma di scadenza.
CBL Properties (NYSE:CBL) ha completado con éxito la venta del Imperial Valley Mall en El Centro, CA, por 38,1 millones de dólares en una transacción completamente en efectivo. La propiedad del centro comercial, que sirvió como garantía bajo el préstamo a plazo no recursivo de CBL, generó ingresos netos que se aplicaron a reducir el saldo principal del préstamo a 680,3 millones de dólares.
El CEO Stephen D. Lebovitz destacó que esta venta demuestra la continua demanda de centros comerciales cerrados estables y posiciona a CBL para cumplir con la prueba de extensión del saldo principal del préstamo a plazo no recursivo en noviembre de 2025 sin requerir capital adicional más allá de la amortización programada. La transacción ha contribuido a fortalecer el balance de CBL al reducir la deuda total y extender su calendario de vencimiento.
CBL Properties (NYSE:CBL)는 엘 센트로, CA에 위치한 임페리얼 밸리 몰의 매각을 3,810만 달러에 현금 거래로 성공적으로 완료했습니다. 이 쇼핑몰은 CBL의 비상환 대출의 담보로 사용되었으며, 발생한 순수익은 대출 원금 잔액을 6억 8,030만 달러로 줄이는 데 사용되었습니다.
CEO Stephen D. Lebovitz는 이번 매각이 안정적인 폐쇄형 쇼핑몰에 대한 지속적인 수요를 보여주며, CBL이 2025년 11월에 비상환 대출 원금 잔액 연장 테스트를 충족할 수 있는 위치에 있음을 강조했습니다. 추가 자본 없이 예정된 상환 외에 다른 자본을 요구하지 않습니다. 이 거래는 CBL의 재무 상태를 강화하고 총 부채를 줄이며 만기 일정을 연장하는 데 기여했습니다.
CBL Properties (NYSE:CBL) a réussi à finaliser la vente du Imperial Valley Mall à El Centro, CA, pour 38,1 millions de dollars dans une transaction entièrement en espèces. La propriété du centre commercial, qui servait de garantie pour le prêt à terme non remboursable de CBL, a généré des produits nets qui ont été utilisés pour réduire le solde principal du prêt à 680,3 millions de dollars.
Le PDG Stephen D. Lebovitz a souligné que cette vente démontre la demande continue pour des centres commerciaux fermés stables et positionne CBL pour répondre à l'examen d'extension du solde principal de son prêt à terme non remboursable en novembre 2025 sans nécessiter de capital supplémentaire au-delà de l'amortissement prévu. La transaction a contribué à renforcer le bilan de CBL en réduisant la dette totale et en prolongeant leur calendrier d'échéance.
CBL Properties (NYSE:CBL) hat erfolgreich den Verkauf des Imperial Valley Mall in El Centro, CA, für 38,1 Millionen Dollar in einer Barzahlungstransaktion abgeschlossen. Die Mall-Immobilie, die als Sicherheit für CBLs nicht rückzahlbares Darlehen diente, erzielte Nettoerlöse, die zur Reduzierung des Hauptbetrags des Darlehens auf 680,3 Millionen Dollar verwendet wurden.
CEO Stephen D. Lebovitz hob hervor, dass dieser Verkauf die anhaltende Nachfrage nach stabilen, geschlossenen Malls demonstriert und CBL in die Lage versetzt, den Test zur Verlängerung des Hauptbetrags des nicht rückzahlbaren Darlehens im November 2025 zu bestehen, ohne zusätzliches Kapital über die geplante Amortisation hinaus zu benötigen. Die Transaktion hat zur Stärkung der Bilanz von CBL beigetragen, indem sie die Gesamtverschuldung reduziert und den Fälligkeitstermin verlängert hat.
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The updated release reads:
CBL PROPERTIES ANNOUNCES SALE OF IMPERIAL VALLEY MALL FOR
CBL Properties (NYSE:CBL) today announced that it had closed on the sale of Imperial Valley Mall in
“We are pleased to complete the sale of Imperial Valley Mall, another demonstration of the demand for stable enclosed malls,” commented Stephen D. Lebovitz, CBL’s Chief Executive Officer. “This transaction puts us on course to meet the non-recourse term loan principal balance extension test in November 2025 without contributing further capital beyond required amortization. Our balance sheet has strengthened significantly through this and other recent transactions, reducing total debt and lengthening our maturity schedule.”
About CBL Properties
Headquartered in
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_Corp
View source version on businesswire.com: https://www.businesswire.com/news/home/20250217353962/en/
Investor Contact: Katie Reinsmidt, Executive Vice President & Chief Operating Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com
Media Contact: Stacey Keating, Vice President– Corporate Communications, 423.490.8361, Stacey.Keating@cblproperties.com
Source: CBL Properties
FAQ
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