CBL Properties
US real estate investment trust
title: "CBL Properties" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["cbl-properties", "1978-establishments-in-tennessee", "1993-initial-public-offerings", "american-companies-established-in-1978", "companies-based-in-chattanooga,-tennessee", "companies-listed-on-the-new-york-stock-exchange", "companies-that-filed-for-chapter-11-bankruptcy-in-2020", "financial-services-companies-established-in-1978", "real-estate-investment-trusts-of-the-united-states", "real-estate-companies-established-in-1978", "shopping-center-management-firms"] description: "US real estate investment trust" topic_path: "economics" source: "https://en.wikipedia.org/wiki/CBL_Properties" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0
::summary US real estate investment trust ::
::data[format=table title="Infobox company"]
| Field | Value |
|---|---|
| name | CBL & Associates Properties, Inc. |
| logo | CBL & Associates Properties logo.png |
| traded_as | |
| type | Public |
| industry | Real estate investment trust |
| founded | |
| founder | Charles B. Lebovitz |
| location | Chattanooga, Tennessee, U.S. |
| key_people | Charles B. Lebovitz (chairman) |
| Stephen D. Lebovitz (CEO) | |
| Michael Lebovitz (president) | |
| Farzana Khaleel (CFO) | |
| products | Shopping centers |
| revenue | (2024) |
| net_income | US$57 million (2024) |
| assets | US$2.747 billion (2024) |
| equity | US$323 million (2024) |
| num_employees | 477 (2024) |
| website | |
| footnotes | |
| :: |
| name = CBL & Associates Properties, Inc. | logo = CBL & Associates Properties logo.png | traded_as = | type = Public | industry = Real estate investment trust | founded = | founder = Charles B. Lebovitz | location = Chattanooga, Tennessee, U.S. | key_people = Charles B. Lebovitz (chairman) Stephen D. Lebovitz (CEO) Michael Lebovitz (president) Farzana Khaleel (CFO) | products = Shopping centers | revenue = (2024) | net_income = US$57 million (2024) | assets = US$2.747 billion (2024) | equity = US$323 million (2024) | num_employees = 477 (2024) | website = | footnotes = ::figure[src="https://upload.wikimedia.org/wikipedia/commons/0/09/CBL_Properties_headquarters_in_Chattanooga,_Tennessee.jpg" caption="CBL Properties headquarters in Chattanooga, Tennessee"] ::
CBL & Associates Properties, Inc. (previously CBL & Associates, Inc.) is an American real estate investment trust that invests in shopping centers and shopping malls, primarily in the Southeastern and Midwestern United States. The company is organized in Delaware with its headquarters in Chattanooga, Tennessee. Its largest market is Chattanooga, Tennessee (6.8% of 2024 revenues). The company's name is based on the initials of its founder, Charles B. Lebovitz.
History
In 1961, Moses Lebovitz, his son, Charles B. Lebovitz, and Jay Solomon founded Independent Enterprises. In 1970, the company merged with Arlen Realty & Development Corporation, which owned shopping centers on the East Coast of the United States. In 1978, Charles B. Lebovitz and five associates formed CBL & Associates, Inc.
In March 1979, the company built its first mall, the Plaza del Sol Mall in Del Rio, Texas. In 1987, the company built Hamilton Place in Chattanooga, its flagship mall. In 1993, CBL & Associates Properties, Inc. was formed as a REIT and acquired all of the assets of CBL & Associates, Inc. The company became a public company via an initial public offering.
In 1998, the company acquired five properties near Nashville, Tennessee for $247.4 million in cash and securities. In 2001, the company acquired a 23-property portfolio from Richard E. Jacobs for $1.3 billion. In March 2005, the company opened Imperial Valley Mall in El Centro, California, its first mall on the West Coast of the United States. In October 2005, the company acquired Oak Park Mall, Hickory Point Mall, and Eastland Mall for $516.9 million.
In 2007, the company acquired four malls in the St. Louis area from Westfield Group, for $1.03 billion. In January 2017, the company acquired five properties from Sears for $72.5 million in a leaseback transaction. In October 2017, the company rebranded itself as CBL Properties from "CBL & Associates Properties". In March 2019, the company settled a lawsuit that it overcharged tenants for electricity by setting aside a $90 million fund to be distributed to the plaintiffs. On November 1, 2020, CBL filed for Chapter 11 bankruptcy. It emerged from bankruptcy protection in November 2021.
References
References
- (March 3, 2025). "CBL & Associates Properties, Inc. 2024 Form 10-K Annual Report". [[U.S. Securities and Exchange Commission]].
- Pare, Mike. (July 30, 2017). "Retail powerhouse Hamilton Place mall turns 30". [[Chattanooga Times Free Press]].
- (June 25, 1998). "Company News; 5 Nashville Shopping Centers Sold For $247 Million". [[The New York Times]].
- (January 18, 2001). "CBL Shareholders OK $1.3 Bln Acquisition of Mall Portfolio". Commercial Real Estate Direct.
- Howard, Bob. (March 9, 2005). "CBL's Imperial Valley Opens". [[GlobeSt.com]].
- Moore, Nancy S.. (October 17, 2005). "CBL Finalized Sale of Three-Mall Portfolio for $517M". [[CoStar Group]].
- (August 9, 2007). "CBL Gains Control of Four Leading St. Louis Area Regional Malls in Transactions with the Westfield Group". [[SEC.gov]].
- (October 17, 2007). "CBL closes on $1B purchase of four area malls". [[American City Business Journals]].
- (January 30, 2017). "CBL & Associates Properties, Inc. Acquires Five Sears Stores for Future Redevelopment Through Sale-Leaseback". [[Business Wire]].
- Howland, Daphne. (October 6, 2017). "Mall developer rebrands amid rising vacancy rates". [[Industry Dive]].
- (March 26, 2019). "CBL Properties Announces Proposed Settlement of Class Action Lawsuit". [[The Chattanoogan]].
- Thomas, Lauren. (November 2, 2020). "America's malls under pressure: CBL, Pennsylvania REIT, file for bankruptcy". [[CNBC]].
- Valinsky, Jordan. (November 2, 2020). "Two major mall owners file for bankruptcy". [[CNN]].
- (November 1, 2021). "CBL Properties Exits Chapter 11". [[Business Wire]].
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