Shares Up as Property Manager Closes On Two Strategic Sales
This firm has already completed over $35 million in asset sales this year and is looking for future growth opportunities.
Owner and manager of market-dominant properties, CBL Properties (OTCMKTS:CBLAQ) closed on two strategic asset sales generating gross proceeds of approximately $13.75 million.
The sales include the former Sears building at Harford Mall in Bel Air, Maryland, which generated $5.0 million of gross proceeds. CBL also closed on the sale of 64 residential units in Texas, generating gross proceeds of $8.75 million.
Shares were trading up in early afternoon trade at $0.185.
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