CBL had acquired partial interests in East Towne Mall, WestTowne Mall and West Town Crossing as part of its purchase ofRichard E. Jacobs Inc.'s stake in 23 retail centers. The recenttransaction, which closed Dec. 5, brings CBL's ownership of thethree Madison properties to 100%.

The 887,696-sf East Towne Mall is roughly 95% occupied and the970,474-sf West Towne Mall is about 96% full. Boston Store, JCPenney and Sears anchor both malls. West Towne Crossing, a492,023-sf shopping center, currently 100% occupied, is anchored byBarnes & Noble, Best Buy, Cub Foods, Kohl's, Office Max andShopKo.

"Since acquiring interests in these properties in early 2001, wehave significantly increased occupancy and cash flow and haveenhanced their franchise value through retenanting," says CBL'schairman and chief executive officer, Charles B. Lebovitz. "EastTowne and West Towne together dominate the growing Madison tradearea and we are pleased to own 100% of these assets goingforward."

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