Stephen Lebovitz, CEO of CBL Properties (NYSE: CBL), joined Nareit in New York for a video interview at REITweek: 2019 Investor Conference.
Lebovitz commented on changing consumer behaviors and preferences and how they are impacting the retail REIT space.
CBL recently announced it would be redeveloping malls in South Carolina and Missouri to add bowling and amusement aspects to both. Lebovitz discussed the importance of adding entertainment options to drive traffic to its various properties.
Meanwhile, Lebovitz stressed that CBL is focused on maximizing returns on capital. CBL is generating more than $200 million of free cash flow that is being reinvested in its properties. “It really is driving the redevelopment, the transformation, and the future of the company…because of the capital we have available, we’re able to invest that and solidify our properties so they have a bright future,” he said.