CBL Properties Announces Sale of Layton Hills Convenience Center, Layton Hills Plaza and Nine Related Outparcels for $28.5 Million
CBL & Associates Properties, Inc. (CBL)
Last cbl & associates properties, inc. earnings: 2/6 04:15 pm
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Source: Business Wire
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE:CBL) today announced that it had closed on the sale of Layton Hills Convenience Center, Layton Hills Plaza and nine related outparcels in Layton (Salt Lake City), UT, to an unaffiliated third party for $28.5 million, all cash. Layton Hills Convenience Center and Plaza served as collateral under CBL’s non-recourse term loan. The nine improved outparcels served as collateral under CBL’s non-recourse open-air and outparcel loan. Net proceeds from the sale were applied to the term loan principal balance and open-air and outparcel loan, as applicable. After closing the term loan balance was reduced to a current balance of $730.8 million and the open-air and outparcel loan balance was reduced to a current balance of $340.1 million.“We are excited to announce the successful disposition of our remaining assets around Layton Hills Mall, which we sold in August,” said Stephen D. Lebovitz, CBL’s Chief Executive Officer. “This transact
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CBL
Sec Filings
- 9/26/24 - Form 10-K/A
- 9/20/24 - Form SC
- 9/13/24 - Form 4
- CBL's page on the SEC website