CBL announces community center disposition progress

CBL & Associates Properties announced that it has closed on the disposition of Waynesville Commons, a 128,000 sq. ft. community center located in Waynesville, North Carolina. The property was purchased for $14.5 million by affiliate of Yale Realty Services Corp.

“We are pleased to make additional progress on our announced community center and non-core disposition program,” said Stephen D. Lebovitz, president and CEO. “Given the strong demand for high-quality community and power centers, accessing this liquid market provides us with an attractively priced source of equity for deleveraging. We look forward to announcing additional progress in the near future.”