CBL Properties Closes Two Strategic Land Sales, Bringing Year-to-Date Land Sale Proceeds to More Than $30 Million
Business Wire•30/09/2026•16:29 ET
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Key Highlights
- ➤YTD land sale proceeds exceed $30 million
- ➤Two parcels sold, supporting development of more than 515 Class-A multifamily units
- ➤Harford Mall sold 3.9 acres to Cohere Development for 249-unit luxury complex
- ➤Friendly Center sold approximately 7 acres to Hines for 270-unit Class A multifamily project
Expert Statements
Stephen D. Lebovitz, Chief executive officer of CBL Properties
“The sale of these two parcels is consistent with CBL’s ongoing strategy of unlocking value from underappreciated land and asset sales while enhancing the long-term value of our portfolio through complementary mixed-use and multifamily development.”
Stephen D. Lebovitz, Chief executive officer of CBL Properties
“With more than $30 million of land sales completed this year, we are demonstrating the embedded value of our real estate and the quality of our locations.”
CBL Properties Closes Two Strategic Land Sales, Bringing Year-to-Date Land Sale Proceeds to More Than $30 Million
Today CBL Properties (NYSE:CBL) announced that it has closed on two additional land sales at Harford Mall in Bel Air, Maryland, and Friendly Center in Greensboro, North Carolina. The transactions support the development of more than 515 class-A multifamily units and bring CBL’s year-to-date gross proceeds from land sales to mixed-use developers to more than $30 million.
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