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CBL & Associates Properties, Inc. (symbol: CBL) is one of the largest and most active owners and developers of malls and shopping centers in the United States. Headquartered in Chattanooga, TN, with regional offices in Boston (Waltham), MA, Dallas (Irving), TX, and St. Louis, MO, CBL operates a vast portfolio spanning 30 states.
CBL owns, holds interests in, or manages 148 properties, including 89 regional malls and open-air centers. These properties total approximately 84.2 million square feet, with 6.5 million square feet managed for third parties. The company's core business involves the ownership, development, acquisition, leasing, management, and operation of various shopping centers, including regional malls, outlet centers, lifestyle centers, and open-air centers.
CBL's primary revenue streams come from leasing arrangements with retail tenants, management and development fees, and sales of real estate assets. The company continually enhances its portfolio through redevelopment, renovation, and expansion projects, ensuring their properties remain attractive and profitable.
With its extensive network and strategic locations, CBL plays a significant role in the retail real estate market. The company is committed to driving growth and value for its shareholders through innovative development projects and effective management practices.
Additional information about CBL & Associates Properties, Inc. can be found at cblproperties.com.
CBL Properties (NYSE: CBL) announced significant financing achievements, closing nearly
CBL Properties (NYSE: CBL) announces the grand opening of Nordstrom Rack on May 18 at The Terrace, Chattanooga, TN. This 24,000 square-foot store marks Nordstrom Rack's third location in Tennessee and fourth overall for Nordstrom in the state. CBL's CEO, Stephen Lebovitz, emphasized that the new store enhances the tenant mix at Hamilton Place and is expected to attract more visitors due to Nordstrom Rack's quality brands and pricing. The grand opening festivities will begin at 8 a.m. ET, including a DJ and gift card giveaways.
CBL Properties (NYSE: CBL) has announced the promotions of Randy Owens to Senior Vice President – Leasing and Jason Shelton to Vice President – Leasing. These promotions recognize their significant contributions in managing national accounts and negotiating leasing deals. Owens has been with the company since 1988 and has held various roles, including Vice President – Leasing since 2017. Shelton joined in 1997, focusing on development projects before returning to leasing. CBL, headquartered in Chattanooga, TN, manages a portfolio of 94 properties totaling 58.5 million square feet across 22 states.
CBL Properties reported strong fourth quarter and full-year results for 2022, exceeding expectations. Net income attributable to common shareholders rose to $811,000, reversing a significant loss of $151.5 million in 2021. Funds from Operations (FFO) adjusted increased to $243.5 million for 2022, surpassing previous guidance. The company experienced a 170-basis-point increase in portfolio occupancy to 91.0% year-over-year. A 50% dividend increase to $0.375 per share was declared for Q1 2023, as CBL returned over $91 million in cash dividends in 2022. Guidance for 2023 includes FFO between $5.85 and $6.47 per share, despite anticipated challenges.
CBL Properties (NYSE: CBL) announced a cash dividend of $0.375 per common share for the quarter ending March 31, 2023, reflecting a 50% increase from the previous dividend of $0.25. This raises the annual payment to $1.50 per share, payable on March 31, 2023, to shareholders of record by March 15, 2023. CEO Stephen D. Lebovitz attributed the increase to strong operating performance and cash flow generation, highlighting the company's robust cash position.
CBL Properties (NYSE: CBL) has announced the resignation of Kaj Vazales from its Board of Directors, effective January 26, 2023. This change follows Mr. Vazales' shift in his principal occupation. Since joining the board in November 2021, he played a crucial role during the company’s restructuring, helping CBL emerge in a strong financial position. Stephen D. Lebovitz, the CEO, expressed gratitude for Mr. Vazales' contributions, noting his financial expertise and insights as beneficial for CBL's long-term success. CBL owns a portfolio of 94 properties totaling 58.5 million square feet across 22 states.
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