Press Release: CBL Properties Closes Sale of Interest in the Outlet Shoppes at Atlanta
CBL Properties Closes Sale of Interest in the Outlet Shoppes at Atlanta
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--December 09, 2019--
CBL Properties (NYSE:CBL) today announced that it closed the sale of a 15% interest in The Outlet Shoppes at Atlanta in Atlanta, GA, to an affiliate of its existing joint venture partner, Horizon Group Properties, for total consideration of $20.8 million. The sales price included approximately $11.4 million in related debt. Following the sale, CBL and its joint venture partner both own a 50% interest in the center. Net proceeds from the sale were used to reduce outstanding balances on the company's line of credit.
"With the closing of this sale, we've completed gross asset sales of more than $180 million during 2019," said Stephen Lebovitz, CBL's chief executive officer. "Proceeds from dispositions, along with our significant free cash flow, allow us to further transformative redevelopment efforts at our properties as well as improve our balance sheet through debt reduction."
About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL's portfolio is comprised of 108 properties totaling 68.2 million square feet across 26 states, including 68 high--quality enclosed, outlet and open-air retail centers and nine properties managed for third parties. CBL continuously strengthens its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.
Information included herein contains "forward-looking statements" 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's various filings with the Securities and Exchange Commission, including without limitation the Company's Annual Report on Form 10-K and the "Management's Discussion and Analysis of Financial Condition and Results of Operations" included therein, for a discussion of such risks and uncertainties.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191209005607/en/
CONTACT:
Investor Contact: Katie Reinsmidt, Executive Vice President & Chief Investment Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com
(END) Dow Jones Newswires
December 09, 2019 14:00 ET (19:00 GMT)
*DJ CBL Properties Closes Sale of Interest in the Outlet Shoppes at Atlanta
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December 09, 2019 14:00 ET (19:00 GMT)
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新聞稿:CBL地產公司關閉了在亞特蘭大的銷售點銷售感興趣的商品
CBL地產關閉在亞特蘭大的銷售點銷售感興趣的商品
查塔努加,田納西州-(商業電報)-2019年12月9日
CBL Properties(紐約證券交易所市場代碼:CBL)今天宣佈,已向其現有合資夥伴HorizonGroupProperties的一家子公司出售其現有合資夥伴HorizonGroupProperties的15%股權,總價值為2080萬美元。銷售價格包括約1 140萬美元的相關債務。出售後,CBL及其合資夥伴都持有該中心50%的股權。出售所得的淨收益被用來減少公司信貸額度上的未清餘額。
CBL首席執行官斯蒂芬·萊博維茨(Stephen Lebovitz)表示:“隨着此次出售的結束,我們在2019年完成了逾1.8億美元的總資產銷售。”“處置所得的收益,加上我們大量的自由現金流,使我們能夠進一步改造我們的房產,並通過減債來改善我們的資產負債表。”
關於CBL性質
CBL地產公司總部設在田納西州查塔努加市,擁有並管理着位於充滿活力和不斷髮展的社區的國家市場主導資產組合。CBL的投資組合包括108處房產,總面積6,820萬平方英尺,分佈在26個州,其中包括68個高質量的封閉、直銷和露天零售中心,以及為第三方管理的9個房產。CBL通過積極的管理、積極的租賃和對其房產的盈利再投資,不斷加強其公司和投資組合。欲瞭解更多信息,請訪問cblproperties ties.com。
這裏包含的信息包含聯邦證券法意義上的“前瞻性陳述”。這類聲明本身就會受到風險和不確定性的影響,其中許多風險和不確定因素無法準確預測,有些甚至可能沒有預料到。未來事件和實際事件,財務和其他方面,可能與前瞻性聲明中討論的事件和結果大不相同。讀者可查閲公司向證券交易委員會提交的各種文件,包括但不限於公司關於表10-K的年度報告和其中所載的“管理層對財務狀況和經營結果的討論和分析”,以討論這些風險和不確定因素。
查看businesswire.com上的源代碼版本:https://www.businesswire.com/news/home/20191209005607/en/
聯繫人:
投資者聯繫人:凱蒂·萊因斯密,執行副總裁兼首席投資官,電話:423.490.8301,Katie.Reinsmidt@cblProperties.com
(完)道瓊斯通訊社
2019年12月9日14:00(格林尼治時間19:00)
*DJ CBL Properties關閉亞特蘭大門店的銷售興趣
道瓊斯通訊社(212-416-2800)
2019年12月9日14:00(格林尼治時間19:00)
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