CBL & Associates Properties, Inc.
 |
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| Public company | |
| Traded as | : CBL S&P 600 component |
| Industry | Real estate investment trust |
| Founded | 1961 |
| Founder | Moses Lebovitz Charles Lebovitz Jay Solomon |
| Headquarters | Chattanooga, Tennessee |
|
Key people
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Charles B. Lebovitz, Chairman Stephen D. Lebovitz, President & CEO Farzana Khaleel, CFO |
| Revenue |
 $1.028 billion (2016) |
 $0.195 billion (2016) |
|
| Total assets |
$5.992 billion (2016) |
| Total equity |
$3.003 billion (2016) |
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Number of employees
|
697 (2016) |
| Website | www |
CBL & Associates Properties, Inc. is a real estate investment trust named after Charles B. Lebovitz that invests in shopping centers, primarily in the Southeastern United States and Midwestern United States. As of December 31, 2016, the company owned 113 properties.
In 1961, Moses Lebovitz, Charles 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 Lebovitz and 5 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 1995, the company acquired 2 shopping malls, WestGate Mall in Spartanburg, South Carolina and Suburban Plaza in Knoxville, Tennessee, for $32.3 million.
In 1998, the company acquired 5 properties near Nashville, Tennessee for $247.4 million in cash and securities. It also acquired Meridian Mall and Janesville Mall for $68 million in cash and $52 million in partnership units.
In 2001, the company acquired a 23-property portfolio from Richard E. Jacobs for $1.3 billion.
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Wikipedia