Craig Schmidt

Michael Mueller

Michael Bilerman

Caitlin Burrows

Christine McElroy

Christy McElroy

Haendel St. Juste

Jim Sullivan

Richard Hill

Rich Hill

Todd Thomas

Vince Tibone

- CBL Properties completed the **sale of its interest in Fremaux Town Center**, a 640,000-square-foot open-air center in Slidell, LA, to its joint venture partner, Stirling.  **[910612_1dc374cdf5194f2e8e4a4eaf57e70c55_0]** 
- The transaction resulted in **net cash proceeds of $30.77 million** for CBL and eliminated **$35.0 million of property-specific debt**.  **[910612_1dc374cdf5194f2e8e4a4eaf57e70c55_0]** 
- The sale was executed at an **8.2% cap rate**, which CBL's CEO, Stephen D. Lebovitz, noted confirms the significant value of its open-air portfolio.  **[910612_1dc374cdf5194f2e8e4a4eaf57e70c55_0]** 
- The proceeds from this sale are intended to pursue higher-yield opportunities, including future acquisitions and share repurchase activity.  **[910612_1dc374cdf5194f2e8e4a4eaf57e70c55_0]**

CBL Properties Sells Interest in Fremaux Town Center

CBL & ASSOCIATES PROPERTIES (CBL)