CBL Properties Continuing to Reposition Tenant List

Stephen Lebovitz, president and CEO of CBL Properties (NYSE: CBL), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

Lebovitz said the REIT has been working to increase the share of non-apparel tenants in its portfolio. During the first quarter, 70 percent of leasing occurred with non-apparel tenants in favor of food and beverage, entertainment, fitness, and other service providers.

“That’s definitely a trend that we’re going to see continue going forward,” Lebovitz said.

Lebovitz also highlighted the importance of redevelopment for CBL. The company has completed roughly 20 redevelopment projects in the past three years, with a dozen underway now and an additional two dozen in the planning process.

Meanwhile, CBL is taking steps to shore up its balance sheet by extending loan maturities and adding liquidity to the company, according to Lebovitz.

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