CHATTANOOGA, Tenn., October 25, 2025 — CBL Properties (NYSE:CBL) today announced that it had closed on the sale of its interest in Fremaux Town Center, a roughly 640,000-square-foot open-air center located in Slidell, LA, to its joint venture partner, Stirling. CBL received net cash proceeds of $30.77 million and eliminated $35.0 million of property-specific debt. The transaction represented an 8.2% cap rate.
“We’re pleased to complete the sale of our interest in Fremaux Town Center at attractive pricing that highlights the significant and underappreciated value of our open-air portfolio,” said Stephen D. Lebovitz, Chief Executive Officer of CBL. “This transaction simplifies our ownership structure by reducing joint venture exposure. It also generates cash proceeds to pursue higher-yield opportunities, including future acquisitions and share repurchase activity.