In 1961, Moses Lebovitz, his son, Charles B. Lebovitz, and Jay Solomon founded Independent Enterprises.[2] In 1970, the company merged with Arlen Realty & Development Corporation, which owned shopping centers on the East Coast of the United States.[2] In 1978, Charles B. Lebovitz and five associates formed CBL & Associates, Inc.[1][2] In March 1979, the company built its first mall, the Plaza del Sol Mall in Del Rio, Texas.[2] In 1987, the company built Hamilton Place in Chattanooga, its flagship mall.[2] In 1993, CBL & Associates Properties, Inc. was formed as a REIT and acquired all of the assets of CBL & Associates, Inc.[1] The company became a public company via an initial public offering.[2]
In 1998, the company acquired five properties near Nashville, Tennessee for $247.4 million in cash and securities.[3]
In 2001, the company acquired a 23-property portfolio from Richard E. Jacobs for $1.3 billion.[4]
In 2007, the company acquired four malls in the St. Louis area from Westfield Group, for $1.03 billion.[7][8]
In January 2017, the company acquired five properties from Sears for $72.5 million in a leaseback transaction.[9]
In October 2017, the company rebranded itself as CBL Properties from "CBL & Associates Properties".[10]
On March 20, 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.[11] On November 1, 2020, CBL filed for Chapter 11 bankruptcy.[12][13] It emerged from bankruptcy protection in November 2021.[14]
US$535 million (2023)
US$3 million (2023)
