CBL & Associates Properties, Inc. entered into an agreement to acquire three stores located in Louisville, Texas and Bloomington from Macy's, Inc. (NYSE:M) for $5 million.
January 03, 2017
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CBL & Associates Properties, Inc. (NYSE:CBL) entered into an agreement to acquire three stores located in Louisville, Texas and Bloomington from Macy's, Inc. (NYSE:M) for $5 million on January 4, 2017. Subject to normal closing conditions, the transaction is expected to close during the first quarter of 2017.
CBL & Associates Properties, Inc. is a self-managed, self-administered, fully integrated real estate investment trust (REIT). The Company owns, develops, acquires, leases, manages, and operates various properties. Its segments include Malls and All Other. The Malls segment includes malls, lifestyle centers and outlet centers. The All Other segment includes open-air centers, outparcels, office buildings, hotels, self-storage facilities, corporate-level debt and the Management Company. The Company primarily conducts its business through CBL & Associates Limited Partnership (the Operating Partnership), which is a variable interest entity. It owns two qualified REIT subsidiaries: CBL Holdings I, Inc. and CBL Holdings II, Inc. It owns and manages a portfolio, which is comprised of approximately 94 properties totaling 58.5 million square feet across 22 states, including 56 enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets.
CBL & Associates Properties, Inc. entered into an agreement to acquire three stores located in Louisville, Texas and Bloomington from Macy's, Inc. (NYSE: M) for $5 million.
CBL & ASSOCIATES PROPERTIES, INC. 
