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CBL sells outlet center for $130 million


The Outlet Shoppes at Oklahoma City was acquired this week by The Outlet Resource Group (TORG) and Singerman Real Estate (SRE), reported CBL & Associates, which co-owned the center with Horizon Group Properties.

"The Outlet Shoppes at Oklahoma City was the first project we developed with Horizon and has been a huge success,” said Stephen Lebovitz, CBL’s president & CEO. “We are pleased to demonstrate the value of our outlet portfolio and provide additional liquidity to reduce leverage and help fund our redevelopment program."

CBL put its net proceeds of $38 million on the sale toward reducing its lines of credit.

“The previous ownership established the center as a shopping destination, and we look forward to optimizing and improving the experience for shoppers and retailers,” said David Hinkle of TORG.

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