CBL Properties Sells Land Parcel at CoolSprings Galleria
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Source: Newsfilter
- Land Sale Transaction: CBL Properties has successfully closed the sale of a 5.35-acre parcel at CoolSprings Galleria in Franklin, Tennessee, to renowned developer Greystar, creating a new revenue stream for CBL.
- Market Vitality Enhancement: This transaction will introduce a high-end residential development that increases density and activity at CoolSprings Galleria, further solidifying its position as a top retail and entertainment destination in the region.
- Construction Plans: The new community will feature 361 units and 15,000 square feet of retail space, with construction expected to commence later this month and last approximately two years, aimed at enhancing the quality of life and commercial vitality in the area.
- Strategic Partnership: The collaboration with Greystar not only enhances the overall value of CoolSprings Galleria but also promotes sustainable development in the region by transforming underutilized parking lots into upscale housing.
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Analyst Views on CBL
Wall Street analysts forecast CBL stock price to fall
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 47.240
Low
45.00
Averages
45.00
High
45.00
Current: 47.240
Low
45.00
Averages
45.00
High
45.00
About CBL
CBL & Associates Properties, Inc. is a self-managed, self-administered, fully integrated real estate investment trust (REIT). The Company is engaged in the ownership, development, acquisition, leasing, management and operation of regional shopping malls, outlet centers, lifestyle centers, open-air centers and other properties. The Company's segments include Malls, Lifestyle centers, Outlet centers, Open-air centers, and All Other. The Company owns and manages a portfolio comprised of over 87 properties totaling 55.1 million square feet across 23 states, including 55 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 20 open-air centers and other assets. The Company's portfolio includes The Courtyard at Hickory Hollow, Ashland Town Center, Mesa Mall, Paddock Mall, Southgate Mall, Parkdale Mall, Parkdale Crossing, Eastland Mall, Kirkwood Mall, Harford Mall Annex, Alamance Crossing West, Sunrise Mall, Sunrise Commons, Gateway Mall, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
CBL Properties Sells Land Parcel at CoolSprings Galleria
- Land Sale Transaction: CBL Properties has successfully closed the sale of a 5.35-acre parcel at CoolSprings Galleria in Franklin, Tennessee, to renowned developer Greystar, creating a new revenue stream for CBL.
- Market Vitality Enhancement: This transaction will introduce a high-end residential development that increases density and activity at CoolSprings Galleria, further solidifying its position as a top retail and entertainment destination in the region.
- Construction Plans: The new community will feature 361 units and 15,000 square feet of retail space, with construction expected to commence later this month and last approximately two years, aimed at enhancing the quality of life and commercial vitality in the area.
- Strategic Partnership: The collaboration with Greystar not only enhances the overall value of CoolSprings Galleria but also promotes sustainable development in the region by transforming underutilized parking lots into upscale housing.
See More
Analysis of CBL Dividend Expectations and Market Performance
- Dividend Yield Expectation: CBL's current estimated annualized dividend yield stands at 4.98%, and while dividends are not always predictable, historical data aids in assessing the likelihood of future dividend sustainability, impacting investor return expectations.
- Price Volatility Range: CBL's 52-week low is $24.325 per share, with a high of $50.57, and the last trade at $50.47 indicates that its stock price fluctuates near the high end, which may influence investor buying decisions.
- ETF Holding Proportion: CBL comprises 2.73% of the Global X SuperDividend U.S. ETF, which is up about 0.7% on the day, suggesting a generally positive market sentiment towards CBL that could attract more investor interest.
- Preferred Stock Structure: There are three series of preferred stock senior to CBL, and investors should monitor the performance of these preferred shares to evaluate CBL's risk and return potential, especially during market fluctuations.
See More
CBL Properties Completes Land Sale for Redevelopment
- Land Sale Transaction: CBL Properties announced the completion of the sale of a 10.468-acre parcel on the northeast side of Harford Mall, which is part of a future mixed-use redevelopment plan, reflecting the company's strategy of unlocking value from underutilized land.
- Market Potential: CEO Stephen D. Lebovitz highlighted that new developments are constrained by a lack of available real estate in the current market, yet the company believes there is significant potential for future land sales across its portfolio, with over $30 million in land sales currently in process.
- Development Plans: The sold parcel includes the former Macy's location, which is expected to be demolished for future mixed-use development, and additional phases of the overall Harford Mall site redevelopment will be announced in the coming months, showcasing the company's confidence in the area's development prospects.
- Portfolio Strength: CBL Properties owns and manages 88 properties totaling 55.6 million square feet across 23 states, and the company's strategy focuses on enhancing the value of its portfolio through active management and profitable reinvestment.
See More
New Retailers Join West County Center
- New Restaurant Opening: The Cheesecake Factory is set to open a new restaurant in the Restaurant Village at West County Center this fall, enhancing dining options and attracting more families and visitors to the area.
- Traffic-Driving Brand: POP MART has opened its first Missouri location at West County Center, leveraging its popular designer toys and limited editions to become a significant draw for Gen-Z and Gen-Alpha shoppers, boosting mall traffic.
- Market Share Growth: With over 7.1 million annual visitors, a 98% occupancy rate, and sales nearing $900 per square foot, West County Center demonstrates strong competitive positioning in the St. Louis market, and the addition of new retailers will further solidify this status.
- Existing Brand Investments: Existing retailers like American Eagle Outfitters and Victoria's Secret are investing in store renovations, set to debut later this year, enhancing the shopping experience and attracting more customers.
See More
CBL Properties Closes $71.9 Million Loan Secured by Hamilton Place
- Loan Transaction Completed: CBL Properties announced the closure of a $71.9 million non-recourse loan secured by Hamilton Place in Chattanooga, Tennessee, with a five-year term and a fixed interest rate of 6.8%, replacing the existing $85.5 million loan due in June.
- Core Asset Significance: Ben Jaenicke, Executive Vice President and CFO, emphasized that Hamilton Place is a core asset within their portfolio, and this financing underscores the company's ability to access attractively priced capital, having completed over $1.5 billion in financing activities over the past year.
- Cash Flow Enhancement: This transaction significantly extends CBL's maturity profile before 2026 while improving free cash flow through better debt structures, thereby strengthening their capacity to create long-term value for shareholders.
- Market Dominance: Headquartered in Chattanooga, CBL Properties owns and manages 87 market-dominant properties totaling 55.1 million square feet across 23 states, including high-quality enclosed malls and outlet centers, showcasing its strong market position in dynamic and growing communities.
See More
CBL Properties Closes Sale of Hammock Landing for $78.5 Million
- Transaction Overview: CBL Properties, along with its joint venture partner, successfully closed the sale of Hammock Landing for $78.5 million, which includes the assumption of a $43.8 million loan, highlighting the asset value within CBL's open-air portfolio.
- Cash Inflow: The sale, along with the first quarter sale of related infrastructure bonds, generates approximately $26 million in cash proceeds for CBL, enhancing the company's liquidity and capital management capabilities.
- Capital Recycling Strategy: CBL's CEO, Stephen D. Lebovitz, noted that the transaction provides an attractive source of equity and advances the company's capital recycling strategy, with proceeds being redeployed into higher-yielding investment opportunities.
- Market Positioning: Headquartered in Chattanooga, TN, CBL Properties owns and manages 87 properties totaling 55.1 million square feet, including high-quality enclosed malls, outlet centers, and open-air centers, continuously enhancing its competitive edge through active management and profitable reinvestment.
See More
CBL Properties Sells Land Parcel at CoolSprings Galleria
- Land Sale Transaction: CBL Properties has successfully closed the sale of a 5.35-acre parcel at CoolSprings Galleria in Franklin, Tennessee, to renowned developer Greystar, creating a new revenue stream for CBL.
- Market Vitality Enhancement: This transaction will introduce a high-end residential development that increases density and activity at CoolSprings Galleria, further solidifying its position as a top retail and entertainment destination in the region.
- Construction Plans: The new community will feature 361 units and 15,000 square feet of retail space, with construction expected to commence later this month and last approximately two years, aimed at enhancing the quality of life and commercial vitality in the area.
- Strategic Partnership: The collaboration with Greystar not only enhances the overall value of CoolSprings Galleria but also promotes sustainable development in the region by transforming underutilized parking lots into upscale housing.
See More
Analysis of CBL Dividend Expectations and Market Performance
- Dividend Yield Expectation: CBL's current estimated annualized dividend yield stands at 4.98%, and while dividends are not always predictable, historical data aids in assessing the likelihood of future dividend sustainability, impacting investor return expectations.
- Price Volatility Range: CBL's 52-week low is $24.325 per share, with a high of $50.57, and the last trade at $50.47 indicates that its stock price fluctuates near the high end, which may influence investor buying decisions.
- ETF Holding Proportion: CBL comprises 2.73% of the Global X SuperDividend U.S. ETF, which is up about 0.7% on the day, suggesting a generally positive market sentiment towards CBL that could attract more investor interest.
- Preferred Stock Structure: There are three series of preferred stock senior to CBL, and investors should monitor the performance of these preferred shares to evaluate CBL's risk and return potential, especially during market fluctuations.
See More
CBL Properties Completes Land Sale for Redevelopment
- Land Sale Transaction: CBL Properties announced the completion of the sale of a 10.468-acre parcel on the northeast side of Harford Mall, which is part of a future mixed-use redevelopment plan, reflecting the company's strategy of unlocking value from underutilized land.
- Market Potential: CEO Stephen D. Lebovitz highlighted that new developments are constrained by a lack of available real estate in the current market, yet the company believes there is significant potential for future land sales across its portfolio, with over $30 million in land sales currently in process.
- Development Plans: The sold parcel includes the former Macy's location, which is expected to be demolished for future mixed-use development, and additional phases of the overall Harford Mall site redevelopment will be announced in the coming months, showcasing the company's confidence in the area's development prospects.
- Portfolio Strength: CBL Properties owns and manages 88 properties totaling 55.6 million square feet across 23 states, and the company's strategy focuses on enhancing the value of its portfolio through active management and profitable reinvestment.
See More
New Retailers Join West County Center
- New Restaurant Opening: The Cheesecake Factory is set to open a new restaurant in the Restaurant Village at West County Center this fall, enhancing dining options and attracting more families and visitors to the area.
- Traffic-Driving Brand: POP MART has opened its first Missouri location at West County Center, leveraging its popular designer toys and limited editions to become a significant draw for Gen-Z and Gen-Alpha shoppers, boosting mall traffic.
- Market Share Growth: With over 7.1 million annual visitors, a 98% occupancy rate, and sales nearing $900 per square foot, West County Center demonstrates strong competitive positioning in the St. Louis market, and the addition of new retailers will further solidify this status.
- Existing Brand Investments: Existing retailers like American Eagle Outfitters and Victoria's Secret are investing in store renovations, set to debut later this year, enhancing the shopping experience and attracting more customers.
See More
CBL Properties Closes $71.9 Million Loan Secured by Hamilton Place
- Loan Transaction Completed: CBL Properties announced the closure of a $71.9 million non-recourse loan secured by Hamilton Place in Chattanooga, Tennessee, with a five-year term and a fixed interest rate of 6.8%, replacing the existing $85.5 million loan due in June.
- Core Asset Significance: Ben Jaenicke, Executive Vice President and CFO, emphasized that Hamilton Place is a core asset within their portfolio, and this financing underscores the company's ability to access attractively priced capital, having completed over $1.5 billion in financing activities over the past year.
- Cash Flow Enhancement: This transaction significantly extends CBL's maturity profile before 2026 while improving free cash flow through better debt structures, thereby strengthening their capacity to create long-term value for shareholders.
- Market Dominance: Headquartered in Chattanooga, CBL Properties owns and manages 87 market-dominant properties totaling 55.1 million square feet across 23 states, including high-quality enclosed malls and outlet centers, showcasing its strong market position in dynamic and growing communities.
See More
CBL Properties Closes Sale of Hammock Landing for $78.5 Million
- Transaction Overview: CBL Properties, along with its joint venture partner, successfully closed the sale of Hammock Landing for $78.5 million, which includes the assumption of a $43.8 million loan, highlighting the asset value within CBL's open-air portfolio.
- Cash Inflow: The sale, along with the first quarter sale of related infrastructure bonds, generates approximately $26 million in cash proceeds for CBL, enhancing the company's liquidity and capital management capabilities.
- Capital Recycling Strategy: CBL's CEO, Stephen D. Lebovitz, noted that the transaction provides an attractive source of equity and advances the company's capital recycling strategy, with proceeds being redeployed into higher-yielding investment opportunities.
- Market Positioning: Headquartered in Chattanooga, TN, CBL Properties owns and manages 87 properties totaling 55.1 million square feet, including high-quality enclosed malls, outlet centers, and open-air centers, continuously enhancing its competitive edge through active management and profitable reinvestment.
See More
