CBL & ASSOCIATES PROPERTIES INC

For the period ended Dec 31, 2024. Filed Mar 3, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 3, 2025

CBL$52.54+9.4%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Schedule III Real Estate and Accumulated Depreciation

le III

Initial Cost (1) · Gross Carry Amounts at Close of Period
Description /Location · Encumbrances(2) · Land · BuildingsandImprovements · CostsCapitalizedSubsequent toAcquisition · Sales ofOutparcelLand · Fresh StartAdjustments · Land · BuildingsandImprovements · Total (3) · AccumulatedDepreciation(4) · Date ofConstruction / Acquisition
OPERATING PROPERTIES
840 Greenbrier CircleChesapeake, VA	$—		$2,096	$3,091	$2,127	$—	$(1,626)	$1,387	$4,301	$5,688	$(657)	2007
Alamance Crossing WestBurlington, NC	18,233		8,344	19,549	240	(3,962)	(11,969)	6,242	5,960	12,202	(1,366)	2007
Arbor PlaceAtlanta (Douglasville), GA	89,711		8,508	95,088	29,201	—	(89,396)	3,050	40,351	43,401	(9,469)	1998-1999
Brookfield SquareBrookfield, WI	—		8,996	78,533	99,969	(5,208)	(146,235)	10,284	25,771	36,055	(9,394)	2001
CBL CenterChattanooga, TN	—		1,332	24,675	2,816	—	(17,030)	3,081	8,712	11,793	(1,740)	2001
CBL Center IIChattanooga, TN	—		22	13,648	1,823	—	(9,880)	965	4,648	5,613	(631)	2008
CherryVale MallRockford, IL	—	(5)	11,892	64,117	56,299	(1,667)	(113,543)	5,360	11,738	17,098	(4,955)	2001
CoolSprings CrossingNashville, TN	17,447		2,803	14,985	(2,802)	—	(10,291)	2,969	1,726	4,695	(660)	1991-1993
Coolsprings GalleriaNashville, TN	137,193		21,333	133,501	—	—	—	21,333	133,501	154,834	(177)	2024
Courtyard at Hickory HollowNashville, TN	4,515		3,314	2,771	482	(231)	(1,181)	1,844	3,311	5,155	(609)	1998
Cross Creek MallFayetteville, NC	85,719		19,155	104,378	33,989	—	(49,534)	4,372	103,616	107,988	(20,425)	2003
Dakota Square MallMinot, ND	—		4,552	87,625	27,902	—	(96,630)	5,179	18,270	23,449	(4,159)	2012
East Towne MallMadison, WI	—	(5)	4,496	63,867	64,228	(909)	(123,012)	4,413	4,257	8,670	(2,872)	2002
Eastland MallBloomington, IL	—		5,746	75,893	(71,130)	(753)	(5,600)	1,921	2,235	4,156	(840)	2005
Fayette MallLexington, KY	110,680		25,205	84,256	112,307	—	(87,361)	11,203	123,204	134,407	(19,082)	2001
Frontier MallCheyenne, WY	—	(5)	2,681	15,858	21,959	(83)	(31,588)	3,715	5,112	8,827	(1,844)	1984-1985
Frontier SquareCheyenne, WY	2,882		346	684	1,056	(86)	612	904	1,708	2,612	(304)	1985
Gunbarrel PointeChattanooga, TN	16,468		4,170	10,874	4,994	—	(5,974)	8,099	5,965	14,064	(1,066)	2000
Hamilton CornerChattanooga, TN	16,638		630	5,532	8,646	—	(2,368)	4,981	7,459	12,440	(1,245)	1986-1987

Initial Cost (1) · Gross Carry Amounts at Close of Period
Description /Location · Encumbrances(2) · Land · BuildingsandImprovements · CostsCapitalizedSubsequent toAcquisition · Sales ofOutparcelLand · Fresh StartAdjustments · Land · BuildingsandImprovements · Total (3) · AccumulatedDepreciation(4) · Date ofConstruction / Acquisition
Hamilton CrossingChattanooga, TN	$11,688		$4,014	$5,906	$7,412	$(1,370)	$(5,550)	$5,300	$5,112	$10,412	$(1,014)	1987
Hamilton PlaceChattanooga, TN	89,197		3,532	42,619	55,588	(2,933)	(35,984)	9,091	53,731	62,822	(11,213)	1986-1987
Hanes MallWinston-Salem, NC	—	(5)	17,176	133,376	51,375	(1,767)	(147,963)	13,968	38,229	52,197	(8,247)	2001
Harford AnnexBel Air, MD	13,069		3,117	9,718	1,312	—	(2,430)	3,117	8,600	11,717	(1,217)	2003
Harford MallBel Air, MD	—		8,699	45,704	17,929	—	(65,736)	4,582	2,014	6,596	(898)	2003
Jefferson MallLouisville, KY	51,323		13,125	40,234	28,371	(521)	(70,099)	4,625	6,485	11,110	(2,793)	2001
Kirkwood MallBismarck, ND	—	(5)	3,368	118,945	43,131	(2,394)	(126,278)	8,114	28,658	36,772	(5,683)	2012
The Landing at Arbor PlaceAtlanta (Douglasville), GA	5,720		7,238	14,330	3,193	(2,242)	(18,627)	1,587	2,305	3,892	(841)	1998-1999
Laurel Park PlaceLivonia, MI	—		13,289	92,579	(98,075)	—	(3,630)	751	3,412	4,163	(1,361)	2005
Mall del NorteLaredo, TX	—	(5)	21,734	142,049	58,779	(149)	(148,232)	13,875	60,306	74,181	(12,369)	2004
Mayfaire Town CenterWilmington, NC	—	(5)	26,333	101,087	27,138	—	(107,804)	7,165	39,589	46,754	(9,215)	2015
Meridian MallLansing, MI	—		2,797	103,678	64,173	—	(150,764)	8,573	11,311	19,884	(4,099)	1998
Mid Rivers MallSt. Peters, MO	—		16,384	170,582	(134,754)	(4,174)	(27,787)	9,191	11,060	20,251	(4,059)	2007
Northgate MallChattanooga, TN	—	(5)	2,330	8,960	24,505	(492)	(23,815)	3,413	8,075	11,488	(1,866)	2011
Northpark MallJoplin, MO	—		9,977	65,481	39,470	—	(99,164)	7,084	8,680	15,764	(3,469)	2004
Northwoods MallNorth Charleston, SC	50,745		14,867	49,647	32,216	(2,339)	(52,958)	9,402	32,031	41,433	(8,570)	2001
Oak Park MallOverland Park, KS	251,448		28,207	100,879	—	—	—	28,207	100,879	129,086	—	2024
Old Hickory MallJackson, TN	—		15,527	29,413	(32,541)	(362)	(9,431)	800	1,806	2,606	(930)	2001
The Outlet Shoppes at GettysburgGettysburg, PA	19,877		20,779	22,180	(27,240)	(2,394)	(47)	7,822	5,456	13,278	(2,112)	2012
The Outlet Shoppes at LaredoLaredo, TX	32,580		11,000	97,353	(62,797)	(2,394)	(26,318)	3,741	13,103	16,844	(2,162)	2017
Parkdale CornerBeaumont, TX	4,113		1,255	2,657	1	—	(896)	1,305	1,712	3,017	(311)	2002
Parkdale Mall and CrossingBeaumont, TX	53,471		22,060	29,842	(4,741)	(874)	(21,766)	11,364	13,157	24,521	(4,819)	2001
Parkway PlaceHuntsville, AL	—		6,364	67,067	10,503	—	(43,144)	10,067	30,723	40,790	(6,452)	2010

Initial Cost (1) · Gross Carry Amounts at Close of Period
Description /Location · Encumbrances(2) · Land · BuildingsandImprovements · CostsCapitalizedSubsequent toAcquisition · Sales ofOutparcelLand · Fresh StartAdjustments · Land · BuildingsandImprovements · Total (3) · AccumulatedDepreciation(4) · Date ofConstruction / Acquisition
Pearland OfficePearland, TX	$—	(5)	$—	$7,849	$2,472	$—	$(3,210)	$—	$7,111	$7,111	$(1,811)	2009
Pearland Town CenterPearland, TX	—	(5)	16,300	108,615	25,674	(857)	(106,531)	16,896	26,305	43,201	(6,532)	2008
The Plaza at FayetteLexington, KY	23,263		9,531	27,646	1,340	—	(28,520)	2,527	7,470	9,997	(3,304)	2006
Post Oak MallCollege Station, TX	—	(5)	3,936	48,948	17,395	(327)	(52,738)	6,028	11,186	17,214	(3,151)	1984-1985
The Promenade D'lbervilleD'lberville, MS	—		16,278	48,806	28,221	(706)	(53,513)	8,728	30,358	39,086	(8,693)	2009
Richland MallWaco, TX	—	(5)	9,874	34,793	25,256	(1,225)	(44,167)	8,793	15,738	24,531	(4,175)	2002
The Shoppes at Hamilton PlaceChattanooga, TN	19,023		5,837	16,326	1,501	—	(10,827)	5,062	7,775	12,837	(1,920)	2003
The Shoppes at St. Clair SquareFairview Heights, IL	16,641		8,250	23,623	739	(5,044)	(19,688)	2,783	5,097	7,880	(912)	2007
South County CenterSt. Louis, MO	—		15,754	159,249	2,824	—	(160,681)	11,165	5,981	17,146	(3,252)	2007
Southaven Towne CenterSouthaven, MS	—	(5)	14,315	29,380	2,461	—	(27,929)	10,163	8,064	18,227	(1,741)	2005
Southpark MallColonial Heights, VA	49,634		9,501	73,262	32,365	—	(102,613)	4,193	8,322	12,515	(1,931)	2003
St. Clair SquareFairview Heights, IL	—		11,027	75,620	36,179	—	(82,113)	8,150	32,563	40,713	(7,307)	1996
Stroud MallStroudsburg, PA	—		14,711	23,936	(24,208)	—	(5,698)	2,942	5,799	8,741	(2,186)	1998
Sunrise CommonsBrownsville, TX	8,565		1,013	7,525	2,123	—	(2,845)	3,504	4,312	7,816	(806)	2003
Sunrise MallBrownsville, TX	—	(5)	11,156	59,047	16,287	—	(45,064)	14,999	26,427	41,426	(10,038)	2003
The TerraceChattanooga, TN	17,651		4,166	9,929	11,281	—	(9,404)	8,982	6,990	15,972	(1,350)	1997
Turtle Creek MallHattiesburg, MS	—	(5)	2,345	26,418	18,738	—	(26,937)	3,977	16,587	20,564	(5,300)	1993-1995
Valley View MallRoanoke, VA	—	(5)	15,985	77,771	23,403	—	(89,309)	9,499	18,351	27,850	(4,698)	2003
Volusia MallDaytona Beach, FL	35,033		2,526	120,242	22,065	(222)	(128,334)	10,856	5,421	16,277	(2,499)	2004
West County CenterDes Peres, MO	144,736		11,634	96,736	—	—	—	11,634	96,736	108,370	—	2024
West Towne CrossingMadison, WI	20,039		1,784	2,955	7,777	—	4,227	5,831	10,912	16,743	(1,388)	1998

Initial Cost (1) · Gross Carry Amounts at Close of Period
Description /Location · Encumbrances(2) · Land · BuildingsandImprovements · CostsCapitalizedSubsequent toAcquisition · Sales ofOutparcelLand · Fresh StartAdjustments · Land · BuildingsandImprovements · Total (3) · AccumulatedDepreciation(4) · Date ofConstruction / Acquisition
West Towne MallMadison, WI		—	(5)	8,912	83,084	49,701		—	(84,533)		14,623			42,541		57,164		(10,070)	2002
WestGate CrossingSpartanburg, SC		$7,651		$1,082	$3,422	$7,886		$—	$(5,426)		$2,047			$4,917		$6,964		$(1,011)	1997
Westmoreland CrossingGreensburg, PA		—	(5)	2,898	21,167	9,415		—	(23,389)		3,119			6,972		10,091		(4,993)	2002
Westmoreland MallGreensburg, PA		—	(5)	4,621	84,215	35,436		(1,240)	(107,620)		6,389			9,023		15,412		(4,549)	2002
York GalleriaYork, PA		—		5,757	63,316	23,421		—	(84,499)		1,767			6,228		7,995		(2,993)	1995
OUTPARCELS:							—					—
Outparcel properties		176,588		75,758	108,873	13,244		(2,394)	13,336		129,050			79,767		208,817		(11,980)	Various
Developments in progress consisting of construction and development properties		—		—	—	5,817		—	—		—			5,817		5,817		—	Various
TOTAL OPERATING PROPERTIES		$1,601,541		$693,744	$3,835,964	$897,867		$(49,319)	$(3,279,054)		$588,153			$1,511,049		$2,099,202		$(283,785)
Held-for-sale
Annex at MonroevillePittsburgh, PA		—		—	29,496	671		—	(25,862)		1,454			2,851		4,305		(1,555)	2004
Imperial Valley MallEl Centro, CA		—	(5)	35,378	71,753	11,211		(2,394)	(92,019)		9,966			13,963		23,929		(4,439)	2012
Monroeville MallPittsburgh, PA		4,868		22,911	177,214	(131,953)		—	(36,624)		13,793			17,755		31,548		(6,855)	2004
Total held-for-sale		$4,868		$58,289	$278,463	$(120,071)		$(2,394)	$(154,505)		$25,213			$34,569		$59,782		$(12,849)
DISPOSITIONS:
Layton Hills MallLayton, UT		—		20,464	99,836	(13,270)		(32,062)	(74,968)		—			—		—		—	2005
Layton Convenience CenterLayton, UT		—		—	8	3,301		(5,256)	1,947		—			—		—		—	2005
Layton Hills PlazaLayton, UT		—		—	2	1,115		(2,360)	1,243		—			—		—		—	2005
Total Dispositions	$	-		$20,464	$99,846	$(8,854)		$(39,678)	$(71,778)	$	-		$	-	$	-	$	-

(1)

Initial cost represents the total cost capitalized including carrying cost at the end of the first fiscal year in which the property opened or was acquired.

(2)

Encumbrances represent the outstanding balance of the mortgage and other indebtedness balance at December 31, 2024, excluding debt discounts, if applicable.

(3)

The aggregate cost of land and buildings and improvements for federal income tax purposes is approximately $7.252 billion.

(4)

Depreciation for all properties is computed over the useful life which is generally 30 years for buildings,10 -20 years for certain improvements and 5 -10 years for equipment and fixtures.

(5)

Encumbered by the secured term loan.

The changes in real estate assets and accumulated depreciation for the years ended December 31, 2024, 2023 and 2022 (in thousands):

	As of December 31,
	2024	2023	2022
REAL ESTATE ASSETS:
Balance at beginning of period	$1,810,145	$1,800,888	$1,789,055
Additions during the period:
Additions and improvements	43,514	42,267	37,080
Acquisitions of real estate assets	387,110	—	5,766
Deductions during the period:
Disposals, deconsolidations and accumulated depreciation on impairments	(81,590)	(33,010)	(30,752)
Transfers from real estate assets	(59,977)	—	(261)
Balance at end of period	$2,099,202	$1,810,145	$1,800,888
ACCUMULATED DEPRECIATION:
Balance at beginning of period	$228,034	$136,901	$19,937
Depreciation expense	87,063	104,153	123,695
Transfers from real estate assets	(12,780)	—	15
Accumulated depreciation on real estate assets sold, retired, deconsolidated or impaired	(18,532)	(13,020)	(6,746)
Balance at end of period	$283,785	$228,034	$136,901

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.