CBL acquires partner's 50% interest in three malls for $22.5M cash, assumes $266.7M debt

CBL & ASSOCIATES PROPERTIES INC

Acquired 50% interests in CoolSprings Galleria (Nashville), Oak Park Mall (Kansas City), West County Center (St. Louis).
Total cash consideration $22.5M; assumed $266.7M in non-recourse loans secured by the properties.
Properties now wholly owned; CEO says transaction is immediately accretive and allows full control of high-performing assets.
Extended non-recourse loans: West County Center to Dec 2026 at existing rate; Oak Park Mall to Oct 2030 at 5% fixed.
CoolSprings Galleria has favorable 4.84% rate loan maturing May 2028.

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