CBL & Associates, a Chattanooga, TN.-based firm, willacquire Jacobs' interests in 21 regional malls and two associatedcenters. The portfolio, totaling approximately 19.2 million sf,includes five malls in Wisconsin, three each in North Carolina,Kentucky and South carolina, two each in Michigan and Ohio, oneeach in Illinois, Tennessee and Texas and associated shoppingcenters in both Ohio and Wisconsin.
The acquisition is expected to close in first quarter 2001. Ifthe acquisition is completed as planned, CBL's portfolio will total161 properties, representing 55 million sf in 26 states, making itone of the top five owners of shopping centers in the nation.
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