uploads/2015/10/C1-PICS41.png

CBL & Associates Properties: A Must-Know Company Overview

By

Updated

A peek into the company’s history

Based in Chattanooga, Tennessee, CBL & Associates Properties (CBL) is the fifth-largest retail mall REIT (real estate investment trust) in the United States. The company completed its initial public offering in 1993. The main aim of the company was to acquire all of real estate properties owned by CBL & Associates, Inc., which was formed by Charles Lebovitz in 1978.

Article continues below advertisement

Business interest

CBL is a self-managed, self-administered, and fully integrated REIT. The company owns, develops, acquires, leases, manages, and operates regional shopping malls, open-air centers, outlet centers, associated centers, community centers and, office properties. As of fiscal 2014 , the company owns properties in 27 states.

Competitors

CBL (CBL) is a major US retail REIT company. The company’s current market capitalization is $2.5 billion. The company competes with numerous other malls, outlet centers, community centers, lifestyle centers, and shopping centers in the United States. There are several other publicly-traded mall companies and shopping center companies, and various large private mall companies in the United State that compete against the company for an anchor or a tenant. The company also competes with internet retailing sites, which provide retailers with distribution options beyond existing brick-and-mortar retail properties.

CBL’s major competitors in the regional mall REIT space include Indianapolis-based Simon Property Group (SPG), Chicago-based General Growth Properties (GGP), Santa Monica-based Macerich (MAC), and Michigan-based Taubman Centers (TCO). CBL (CBL) makes up 0.4% of the SPDR Dow Jones REIT ETF (RWR).

Advertisement

More From Market Realist