Add CBL & Associates Properties to the listof REITs looking for quality over quantity.
As I wrote in December, a number of REITsare selling off assets that no longer fit their core portfolio, andin fact CBL announced last week that it had found a buyer forLakeshore Mall in Sebring, FL.
“We as a management team and organization are fully committed toa strategic plan that transforms the CBL portfolio to a higherlevel of sustainable growth,” said Stephen D.Lebovitz, president and CEO, in a conference call andpresentation regarding its future plans. The goal is not to shrinkthe portfolio, he added, but to refocus on higher-producingcenters.
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