CBL Properties

CBL Properties and MINISO Partner to Expand Its U.S. Presence to Thirteen CBL Malls

Retrieved on: 
Thursday, March 21, 2024
Generation X, Men, Retail, Millennials, Consumer, Commercial Building & Real Estate, Construction & Property, Discount, Variety, Lifestyle, Department Stores, Teens, Women, Generation Z, Fashion, Post Oak Mall, Coastal Grand Mall, Hanes Mall, Garage, CBL, Restaurant, Valley View Mall, Aerie, CBL Properties, CoolSprings Galleria, Kirkwood Mall

Today CBL Properties (NYSE:CBL) announced it has executed multiple deals with global lifestyle retailer MINISO, expanding the brand’s presence to a dozen new markets in the United States.

Key Points: 
  • Today CBL Properties (NYSE:CBL) announced it has executed multiple deals with global lifestyle retailer MINISO, expanding the brand’s presence to a dozen new markets in the United States.
  • “We are thrilled to work with MINISO to add to their U.S. store fleet at CBL properties across the south, east coast, and Midwest,” said Stephen Lebovitz, chief executive officer, CBL Properties.
  • “MINISO is an innovative retailer catering to a generation of customers who over the last few years have shown a preference for shopping at malls.
  • These stores are becoming a destination for visitors to our properties and complement the dynamic mix of retailers, restaurants, and entertainment they already offer.”
    In addition to MINISO, CBL is working with several brands that are working to expand their mall-based presence including Five Below, Aerie, Garage, and many others.

CBL Properties Partners With Adeptmind to Launch “Inventory Insider”

Retrieved on: 
Wednesday, February 14, 2024
Commercial Building & Real Estate, Generation X, Construction & Property, Millennials, Teens, REIT, Electronic Commerce, Software, Other Retail, Restaurant, Bar, Internet, Data Management, Technology, Other Consumer, Retail, Women, Seniors, Men, Finance, Artificial Intelligence, Family, Professional Services, Online Retail, Consumer, Department Stores, Generation Z, CoolSprings Galleria, Research, CBL Properties, Intelligence, CBL

CBL Properties (NYSE:CBL) today announced that it has partnered with Adeptmind, a leading technology company specializing in artificial intelligence and e-commerce, to launch “Inventory Insider” at two of its Tennessee properties, CoolSprings Galleria (Nashville) and Hamilton Place (Chattanooga).

Key Points: 
  • CBL Properties (NYSE:CBL) today announced that it has partnered with Adeptmind, a leading technology company specializing in artificial intelligence and e-commerce, to launch “Inventory Insider” at two of its Tennessee properties, CoolSprings Galleria (Nashville) and Hamilton Place (Chattanooga).
  • Inventory Insider leverages Adeptmind’s technology to give shoppers online access to all the products carried by each local retailer in one centralized location on the mall’s website.
  • “We are excited to partner with Adeptmind to launch Inventory Insider at two of our top properties,” said Stephen Lebovitz, chief executive officer, CBL Properties.
  • “Adeptmind will boost the online visibility of these two properties, making retailer products easily discoverable for their customer base, which positively impacts the overall consumer experience.”
    Inventory Insider is currently accessible from each property’s website through a new “Products” tab.

CBL Properties Announced 6.7% Increase in Quarterly Dividend

Retrieved on: 
Thursday, February 8, 2024
Commercial Building & Real Estate, Construction & Property, Department Stores, Finance, Other Retail, REIT, Professional Services, Restaurant, Bar, Retail, CBL, CBL Properties

CBL Properties (NYSE:CBL) today announced that its Board of Directors has declared a cash dividend of $0.40 per common share for the quarter ending March 31, 2024, a 6.7% increase from the previous quarterly dividend rate.

Key Points: 
  • CBL Properties (NYSE:CBL) today announced that its Board of Directors has declared a cash dividend of $0.40 per common share for the quarter ending March 31, 2024, a 6.7% increase from the previous quarterly dividend rate.
  • The dividend, which equates to an annual dividend payment of $1.60 per common share, is payable on March 29, 2024, to shareholders of record as of March 15, 2024.
  • “We are pleased to demonstrate our commitment to returning value to shareholders by announcing a 6.7% increase in the regular cash distribution, which builds on the 50% dividend increase in 2023,” commented Stephen D. Lebovitz, CBL’s Chief Executive Officer.
  • “Strong operating performance in 2023 continued to generate substantial free cash flow, enabling the Company to build on our strong cash position.”

CBL Properties Announces Tax Reporting Information for 2023 Common Stock Dividends

Retrieved on: 
Thursday, January 25, 2024
Commercial Building & Real Estate, Construction & Property, Department Stores, Other Retail, Finance, REIT, Professional Services, Restaurant, Bar, Other Construction & Property, Retail, CBL Properties, Partnership, Internal Revenue Code, Section

Under Section 199A, REIT dividends are eligible for a 20% deduction when received by eligible taxpayers.

Key Points: 
  • Under Section 199A, REIT dividends are eligible for a 20% deduction when received by eligible taxpayers.
  • Please consult your tax advisor for proper tax treatment of the dividend distribution.
  • No Alternative Minimum Taxable Income adjustment is included in the current year for the recipients of the above distributions.
  • § 1.1061-6(c), CBL Properties is disclosing below two additional amounts related to the capital gain dividends reported in Form 1099-DIV Box 2a, Total Capital Gain Distr.

CBL Properties Sees Strong Demand From New Retail and Non-Traditional Tenants

Retrieved on: 
Monday, December 4, 2023
Commercial Building & Real Estate, Construction & Property, Department Stores, Finance, Other Retail, REIT, Professional Services, Restaurant, Bar, Retail, Planet Fitness, Anthropologie, Terrace, NYSE, CBL, Kirkwood Mall, Coastal Grand Mall, Dakota Square Mall, 100 St Georges Terrace, CoolSprings Galleria, Health, Valley View Mall, Crunch Fitness, Friendly Center, Nordstrom Rack, CBL Properties, West Towne Mall

Over the last several months, CBL Properties (NYSE:CBL) has welcomed a number of new retail, service, entertainment and restaurant concepts to its portfolio with more openings planned for 2024 and beyond.

Key Points: 
  • Over the last several months, CBL Properties (NYSE:CBL) has welcomed a number of new retail, service, entertainment and restaurant concepts to its portfolio with more openings planned for 2024 and beyond.
  • “We’re having great success diversifying the offerings at our properties and are seeing strong retail and non-retail leasing activity across our portfolio,” said Stephen Lebovitz, chief executive officer, CBL Properties.
  • “Over the last few months, we’ve welcomed Stars and Strikes to Coastal Grand in Myrtle Beach, South Carolina and Main Event to Cross Creek Mall in Fayetteville, North Carolina.
  • In North Dakota, Tilt Studios opened at Dakota Square in Minot and Kirkwood Mall in Bismarck.

CBL Properties Reports Results for Third Quarter 2023

Retrieved on: 
Thursday, November 9, 2023
Retail, Other Retail, Other Construction & Property, Commercial Building & Real Estate, Construction & Property, REIT, NOI, Partnership, CBL, Exercise, CBL Properties, FFO, Growth, News, Clothing, Cryptocurrency, Lease, Atlanta

Same-center NOI increased 0.4% during the third quarter 2023 as compared with the prior-year quarter.

Key Points: 
  • Same-center NOI increased 0.4% during the third quarter 2023 as compared with the prior-year quarter.
  • FFO, as adjusted, per share was $1.60 for the third quarter 2023, and $4.72 for the nine-months ended September 30, 2023, in-line with expectations.
  • CBL now anticipates achieving full-year results near the mid-point of its 2023 FFO, as adjusted, per share, guidance range of $6.00 - $6.47 and 2023 same-center NOI guidance to the range of $423 million - $440 million.
  • “CBL posted solid results in the third quarter highlighted by same-center NOI growth of 40 basis points," said Stephen D. Lebovitz, CBL's chief executive officer.

CBL Properties Declares Fourth Quarter Common Stock Dividend

Retrieved on: 
Wednesday, November 8, 2023
Commercial Building & Real Estate, Construction & Property, Department Stores, Finance, Other Retail, REIT, Professional Services, Restaurant, Bar, Retail, CBL Properties, NYSE, CBL, Holding company

CBL Properties (NYSE:CBL) today announced that its Board of Directors has declared a cash dividend of $0.375 per common share for the quarter ending December 31, 2023.

Key Points: 
  • CBL Properties (NYSE:CBL) today announced that its Board of Directors has declared a cash dividend of $0.375 per common share for the quarter ending December 31, 2023.
  • The dividend, which equates to an annual dividend payment of $1.50 per common share, is payable on December 29, 2023, to shareholders of record as of December 12, 2023.

CBL Properties Earns 2023 Great Place to Work Certification™

Retrieved on: 
Monday, November 6, 2023
Commercial Building & Real Estate, Construction & Property, Department Stores, Other Retail, Finance, REIT, Professional Services, Restaurant, Bar, Other Construction & Property, Retail, CBL Properties, Culture, Great Places, NYSE, Certification, CBL, Management

CBL Properties (NYSE:CBL) today announced that it has achieved Great Place to Work® Certification™ for 2023.

Key Points: 
  • CBL Properties (NYSE:CBL) today announced that it has achieved Great Place to Work® Certification™ for 2023.
  • An overwhelming 95% of employees said CBL is a great place to work – 38 points higher than the average U.S. company.
  • “I am thrilled to share that CBL has achieved Great Place to Work® Certification™ for the second year in a row,” said Stephen Lebovitz, chief executive officer, CBL Properties.
  • Through Great Place to Work’s annual engagement survey, we glean important insights about our team’s sentiments towards CBL, allowing us to acknowledge and celebrate the positives as well as learn ways in which we can improve.”
    According to Great Place to Work® research , job seekers are 4.5 times more likely to find a great boss at a Certified great workplace.

CBL Properties Publishes First ESG Progress Update

Retrieved on: 
Wednesday, October 4, 2023
Restaurant, Bar, Other Retail, Professional Services, Department Stores, Commercial Building & Real Estate, Environment, Construction & Property, DEI (Diversity, Equity and Inclusion), Retail, REIT, Finance, Environmental, Social and Governance (ESG), CBL Properties, CBL, ESG, NYSE, Management

CBL Properties (NYSE:CBL) today announced that it has published its first ESG Progress Update that focuses on the Company’s accomplishments in 2022 and provides an update on its 2023 goals as well as a look ahead.

Key Points: 
  • CBL Properties (NYSE:CBL) today announced that it has published its first ESG Progress Update that focuses on the Company’s accomplishments in 2022 and provides an update on its 2023 goals as well as a look ahead.
  • “The foundational elements of ESG have long guided our operations, and over the past two years, we have made tremendous progress in formalizing our ESG program and integrating it more fully into various aspects of our business.
  • I am proud of the work our team has put into this program and I am pleased to share our progress in our first published ESG Progress Update,” said Stephen Lebovitz, chief executive officer, CBL Properties.
  • This ESG Progress Update provides insight into these priorities, CBL’s governance and oversight, progress on our goals, and case studies illustrative of our work in each ESG pillar.”

CBL Properties and Horizon Group Properties Close $79.3 Million Non-Recourse Loan Secured by The Outlet Shoppes of Atlanta

Retrieved on: 
Tuesday, October 3, 2023
Commercial Building & Real Estate, Construction & Property, Department Stores, Finance, Other Retail, REIT, Professional Services, Restaurant, Bar, Retail, CBL Properties, CBL, The Outlet Shoppes at Laredo, NYSE, Risk, Bank

CBL Properties (NYSE:CBL) today announced that it, along with its 50% joint venture partner, Horizon Group Properties, closed a new $79.3 million loan ($39.7 million at CBL’s 50% share) secured by The Outlet Shoppes of Atlanta, the premier outlet shopping destination located in Woodstock, GA.

Key Points: 
  • CBL Properties (NYSE:CBL) today announced that it, along with its 50% joint venture partner, Horizon Group Properties, closed a new $79.3 million loan ($39.7 million at CBL’s 50% share) secured by The Outlet Shoppes of Atlanta, the premier outlet shopping destination located in Woodstock, GA.
  • The new non-recourse ten-year loan bears a fixed interest-only rate of 7.85% and replaces two loans with an aggregate balance of $69.5 million (at 100%) that were set to mature in November 2023.
  • “This loan closing demonstrates the quality of our properties as well as CBL’s credibility in the financial markets,” said Stephen Lebovitz, chief executive officer.
  • With the closing of this loan, we have successfully addressed our 2023 final debt maturities.”