Market Overview

CBL Properties Closes on Sale of Janesville Mall in Janesville, WI

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CBL Properties (NYSE:CBL) today announced that it closed on the sale of
Janesville Mall in Janesville, WI, for $18.0 million in cash to RockStep
Capital. Proceeds from the sale were used to reduce outstanding balances
on the Company's lines of credit.

"We are pleased to complete the sale of Janesville Mall," said Stephen
Lebovitz, chief executive officer. "Selectively disposing of assets like
this that no longer fit our strategy allows us to improve the quality of
our overall portfolio and focus our redevelopment capital on growth
assets. Proceeds from the sale also provide a source to supplement our
significant free cash flow and fund these redevelopments and other
capital improvements as well as debt reduction."

Janesville Mall is a 600,000-square-foot Tier 3 mall (2017 sales of $243
psf) located in Janesville, WI. It is anchored by Boston Store (closing
in August), Dick's Sporting Goods, Kohl's and Sears, along with a
selection of shops and eateries.

About CBL Properties

Headquartered in Chattanooga, TN, CBL Properties owns and manages a
national portfolio of market-dominant properties located in dynamic and
growing communities. CBL's portfolio is comprised of 117 properties
totaling 72.8 million square feet across 26 states, including 74
high-quality enclosed, outlet and open-air retail centers and 11
properties managed for third parties. CBL continuously strengthens its
company and portfolio through active management, aggressive leasing and
profitable reinvestment in its properties. For more information visit cblproperties.com.

Information included herein contains "forward-looking statements"
within the meaning of the federal securities laws.
Such
statements are inherently subject to risks and uncertainties, many of
which cannot be predicted with accuracy and some of which might not even
be anticipated.
Future events and actual events, financial and
otherwise, may differ materially from the events and results discussed
in the forward-looking statements.
The reader is directed to the
Company's various filings with the Securities and Exchange Commission,
including without limitation the Company's Annual Report on Form 10-K
and the "Management's Discussion and Analysis of Financial Condition and
Results of Operations" included therein, for a discussion of such risks
and uncertainties.

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