CBL Properties Acquires Gateway Mall For $43.5M From Washington Prime Group; CBL Enters Into Firm Contract For Sale Of Open‑Air Center At ~8% Capitalization Rate

CBL Properties (NYSE:CBL) today announced two significant transactions that advance the company's strategic focus on accretively growing its mall portfolio and increasing cash flow through capital recycling.

CBL has completed the acquisition of Gateway Mall, a market-dominant enclosed shopping center located in Lincoln, Nebraska, for a purchase price of $43.5 million from Washington Prime Group (WPG). The acquisition of Gateway Mall was financed through a $21.0 million non‑recourse, five‑year loan provided by Symetra Life Insurance Company. The loan carries a fixed interest rate of 6.46%.

In a separate transaction, CBL has entered into a firm contract for the sale of an open‑air center at an approximately 8% capitalization rate. The transaction is expected to generate net proceeds after debt repayment of $25 million, with an anticipated close in April.