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Strategic Mall Sale: CBL Properties Strengthens Balance Sheet with $38.1M Imperial Valley Deal

Summary by stocktitan.net

CBL Properties completes all-cash sale of Imperial Valley Mall, reducing term loan balance to $680.3M and advancing debt reduction strategy.

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REBusinessOnline

CBL Properties Sells Imperial Valley Mall in El Centro, California for $38.1M

EL CENTRO, CALIF. — CBL Properties has completed the all-cash, $38.1 million disposition of Imperial Valley Mall in El Centro. The property served as collateral under CBL’s nonrecourse term loan. Net proceeds from the sale were applied to the term loan principal balance, which after closing was reduced to $680.3 million. The name of the buyer was not disclosed. The post CBL Properties Sells Imperial Valley Mall in El Centro, California for $38.1…

5 days ago

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citybiz

CBL Properties Announces $38.1 Million Sale of Imperial Valley Mall

CBL Properties (NYSE:CBL) today announced that it had closed on the sale of Imperial Valley Mall in El Centro, CA, for $38.1 million, all cash. The property served as collateral under CBL’s non-recourse term loan. Net proceeds from the sale were applied to the term loan principal balance, which after closing, was reduced to $680.3 million. “We are pleased to complete the sale of Imperial Valley Mall, another demonstration of the demand for stabl…

6 days ago

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Shopping Center Business

CBL Properties Sells Shopping Center for $38.1 Million in El Centro, California

El Centro, Calif. — CBL Properties has sold Imperial Valley Mall, a 762,695-square-foot regional mall located in El Centro, for $38.1 million. The property served as collateral under a non-recourse… The post CBL Properties Sells Shopping Center for $38.1 Million in El Centro, California appeared first on Shopping Center Business.

6 days ago

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