CBL Properties and its 50% joint venture partner have sold York Town Center, an open-air retail property in York, Pennsylvania, for $50.65 million. The transaction was completed at an approximately 8.5% capitalization rate. CBL did not identify the buyer or provide a breakdown of the proceeds between the joint venture partners. The sale removes another joint venture from CBL’s portfolio and advances the Chattanooga, Tennessee-based real estate c…
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