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CBL Properties Announces Sale of The Promenade in D'Iberville, MS

1. CBL sold The Promenade for $83.1 million at an 8.5% cap rate. 2. This reflects the hidden value of CBL's open-air properties.

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Why Bullish?

The sale at a favorable cap rate indicates effective asset management and market recognition. Historically, such dispositions of undervalued assets have positively influenced stock performance, exemplified by retail REIT recoveries post-asset sales.

How important is it?

The successful sale highlights operational strengths and could attract investor interest, enhancing liquidity and potential future growth.

Why Short Term?

Immediate investor sentiment may improve due to clear asset value realization. Previous sales in retail sectors have often led to quick stock price rallies.

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SPGTCOMAC
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL Properties (NYSE:CBL) today announced that it had closed on the sale of The Promenade, a 621,000-square-foot open-air center located in D'Iberville, MS, for $83.1 million. “The Promenade disposition was completed at an attractive 8.5% cap rate, providing a meaningful demonstration of the tremendous value of CBL's open-air portfolio, which has gone unrecognized by the market,” commented Stephen D. Lebovitz, CBL's Chief Executive Officer. “The sale generat.

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