CBL Properties closes nearly $158 million in financing deals

CHATTANOOGA - CBL Properties (NYSE:CBL), a retail REIT with a market capitalization of $946 million and currently trading at $30.53, announced Wednesday it has closed nearly $158 million in financing activity across three separate transactions, adding to over $520 million in previously announced financing completed in 2025. According to InvestingPro analysis, the company’s stock has shown strong momentum with a 32% return over the past year.

The real estate investment trust and its joint venture partner secured a new $43 million loan for The Pavilion at Port Orange in Florida. The five-year non-recourse loan features a fixed interest rate of 5.9%, representing more than 160 basis points improvement over the existing 7.57% rate. Proceeds were used to retire the existing $40.9 million loan that was set to mature in February 2026. With a current ratio of 0.27 and total debt of $2.14 billion, these refinancing efforts are crucial for improving the company’s debt profile.

In a second transaction, CBL and its partner reached an agreement with the existing lender for Coastal Grand in Myrtle Beach, South Carolina. The principal balance was reduced by $5 million to $88 million, with an initial effective fixed interest rate of 5.09%, and the maturity was extended to August 2028.

The company also entered into a 9-month extension of the $26.7 million non-recourse loan for York Town Center in Pennsylvania. This extended loan carries a fixed interest rate of 6.0% and matures in June 2026.

"The financing markets for retail real estate have continued to improve," said Stephen D. Lebovitz, CBL’s Chief Executive Officer, in a press release statement. "This activity strengthens our balance sheet by lengthening our maturity schedule and locking in attractive rates."

CBL Properties owns and manages 89 properties totaling 55.4 million square feet across 22 states, including 55 enclosed malls, outlet centers and lifestyle retail centers, as well as more than 30 open-air centers and other assets. The company offers an attractive dividend yield of 5.89%, though InvestingPro analysis suggests the stock is currently trading above its Fair Value. Subscribers can access 8 additional ProTips and comprehensive financial metrics to better evaluate CBL’s investment potential.

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