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.
In March 2005, the company opened Imperial Valley Mall in El Centro, California, its first mall on the West Coast of the United States.
In July 2005, the company acquired The Mall of Acadiana in Lafayette, Louisiana.
In 2007, the company acquired 4 malls in the St. Louis area for $1.03 billion. In 2016, the Chesterfield Mall, which was one of the 4 acquired malls, went into receivership after the company defaulted on its mortgage loan.
In 2011, the company acquired Northgate Mall in Chattanooga, Tennessee, which was built by its predecessor, Arlen Shopping Center Group, under the direction of Charles B. Lebovitz in 1972 and was later sold. In 2012, the company announced multi-million dollar renovation of the property.
In 2015, the company sold Waynesville Commons for $14.5 million. The company also acquired Mayfaire Town Center and Community Center for $192 million.
In 2016, the company sold Renaissance Center for $129 million and The Crossings at Marshall Creek for $22.3 million. It also sold 3 malls for $75.1 million.
In 2017, the company acquired 5 properties from Sears for $72.5 million in a leaseback transaction. The company was also added to the S&P 600 index.