CBL Lands $176M Selling Malls In 3 States

Law360, Miami (September 3, 2013, 2:42 PM EDT) -- CBL & Associates Properties Inc., one of the nation's largest shopping mall real estate investment trusts, announced Tuesday that it has closed on a sale of a portfolio featuring properties in Florida, Georgia and Tennessee for a total gross price of $176 million.

An unnamed offshore investor that is partnered with Hendon Properties, which will lease and operate the properties, bought the package of three shopping malls and associated shopping centers, which includes the Panama City Mall and The Shoppes at Panama City in Panama City,...
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