{"id":813683,"date":"2025-02-17T08:03:03","date_gmt":"2025-02-17T13:03:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cbl-properties-announces-sale-of-imperial-valley-mall-for-38-1-million\/"},"modified":"2025-02-17T08:03:03","modified_gmt":"2025-02-17T13:03:03","slug":"cbl-properties-announces-sale-of-imperial-valley-mall-for-38-1-million","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cbl-properties-announces-sale-of-imperial-valley-mall-for-38-1-million\/","title":{"rendered":"CBL Properties Announces Sale of Imperial Valley Mall for $38.1 Million"},"content":{"rendered":"

<\/p>\n

CBL Properties Announces Sale of Imperial Valley Mall for $38.1 Million<\/b><\/p>\n

CHATTANOOGA, Tenn.–(BUSINESS WIRE<\/a>)–
\nCBL Properties (NYSE:CBL) today announced that it had closed on the sale of Imperial Valley Mall in El Centro, CA, for $38.1 million, all cash. The property served as collateral under CBL\u2019s non-recourse term loan. Net proceeds from the sale were applied to the term loan principal balance, which after closing, was reduced to $630.8 million.<\/p>\n

\n\u201cWe are pleased to complete the sale of Imperial Valley Mall, another demonstration of the demand for stable enclosed malls,\u201d commented Stephen D. Lebovitz, CBL\u2019s Chief Executive Officer. \u201cThis 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.\u201d<\/p>\n

About CBL Properties<\/b><\/p>\n

\nHeadquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL\u2019s owned and managed portfolio is comprised of 88 properties totaling 55.4 million square feet across 20 states, including 53 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com<\/a>.<\/p>\n

Information included herein contains \u201cforward-looking statements\u201d 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\u2019s various filings with the Securities and Exchange Commission, including without limitation the Company\u2019s Annual Report on Form 10-K and the \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d included therein, for a discussion of such risks and uncertainties.<\/i><\/p>\n

\nCBL_Corp<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250217353962\/en\/<\/a><\/span><\/p>\n

\nInvestor Contact: Katie Reinsmidt, Executive Vice President & Chief Operating Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com
\n<\/a>
Media Contact: Stacey Keating, Vice President\u2013 Corporate Communications, 423.490.8361, Stacey.Keating@cblproperties.com<\/a><\/p>\n

KEYWORDS:<\/b> Tennessee United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Commercial Building & Real Estate Construction & Property Department Stores Finance Other Retail REIT Professional Services Restaurant\/Bar Retail<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

CBL Properties Announces Sale of Imperial Valley Mall for $38.1 Million CHATTANOOGA, Tenn.–(BUSINESS WIRE)– CBL Properties (NYSE:CBL) today announced that it had closed on the sale of Imperial Valley Mall in El Centro, CA, for $38.1 million, all cash. The property served as collateral under CBL\u2019s non-recourse term loan. Net proceeds from the sale were applied to the term loan principal balance, which after closing, was reduced to $630.8 million. \u201cWe are pleased to complete the sale of Imperial Valley Mall, another demonstration of the demand for stable enclosed malls,\u201d commented Stephen D. Lebovitz, CBL\u2019s Chief Executive Officer. \u201cThis transaction puts us on course to meet the non-recourse term loan principal balance extension test in November 2025 without contributing further … <\/p>\n

Continue reading “CBL Properties Announces Sale of Imperial Valley Mall for $38.1 Million”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-813683","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCBL Properties Announces Sale of Imperial Valley Mall for $38.1 Million - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cbl-properties-announces-sale-of-imperial-valley-mall-for-38-1-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBL Properties Announces Sale of Imperial Valley Mall for $38.1 Million - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"CBL Properties Announces Sale of Imperial Valley Mall for $38.1 Million CHATTANOOGA, Tenn.–(BUSINESS WIRE)– CBL Properties (NYSE:CBL) today announced that it had closed on the sale of Imperial Valley Mall in El Centro, CA, for $38.1 million, all cash. The property served as collateral under CBL\u2019s non-recourse term loan. Net proceeds from the sale were applied to the term loan principal balance, which after closing, was reduced to $630.8 million. \u201cWe are pleased to complete the sale of Imperial Valley Mall, another demonstration of the demand for stable enclosed malls,\u201d commented Stephen D. Lebovitz, CBL\u2019s Chief Executive Officer. \u201cThis transaction puts us on course to meet the non-recourse term loan principal balance extension test in November 2025 without contributing further … Continue reading "CBL Properties Announces Sale of Imperial Valley Mall for $38.1 Million"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/cbl-properties-announces-sale-of-imperial-valley-mall-for-38-1-million\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-17T13:03:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20250217353962r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cbl-properties-announces-sale-of-imperial-valley-mall-for-38-1-million\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cbl-properties-announces-sale-of-imperial-valley-mall-for-38-1-million\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"CBL Properties Announces Sale of Imperial Valley Mall for $38.1 Million\",\"datePublished\":\"2025-02-17T13:03:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cbl-properties-announces-sale-of-imperial-valley-mall-for-38-1-million\\\/\"},\"wordCount\":425,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cbl-properties-announces-sale-of-imperial-valley-mall-for-38-1-million\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20250217353962r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cbl-properties-announces-sale-of-imperial-valley-mall-for-38-1-million\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cbl-properties-announces-sale-of-imperial-valley-mall-for-38-1-million\\\/\",\"name\":\"CBL Properties Announces Sale of Imperial Valley Mall for $38.1 Million - 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