Cbl & Associates Properties, Inc. · NYSE:CBL
Cbl & Associates Properties — Presentation (July 2021)
52 slides from Cbl & Associates Properties's investor presentation, Jul 22, 2021
Slide 1: Structure chart key and notes
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST Note Third Party Non - JV Entity Joint Venture Owns Unencumbered Property Owns Property with Recourse Debt Owns Property with Non - recourse Debt A Wholly - owned Subsidiary of CBL & Associates Management, Inc. that Owns Property Colors Items No
Slide 2: Upper Tier Ownership
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST UPPER TIER OWNERSHIP CBL & Associates Properties, Inc. (DE) CBL & Associates Limited Partnership (DE) CBL Holdings II, Inc. (DE) CBL Holdings I, Inc. (DE) CBL & Associates, Inc. (DE) & Third Parties LP CBL & Associates HoldCo I, LLC (DE) New Ban
Slide 3: Group #1 Dakota Square, South County, Northpark
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST CBL & Associates Limited Partnership (DE) Dakota Square Dakota Square Mall CMBS, LLC (DE) South County Shoppingtown LLC (DE) South County Center GROUP #1 CBL & Associates HoldCo II, LLC (DE) Northpark Mall/Joplin, LLC (DE) Northpark Mall Pledgor
Slide 4: Group #1 Eastland, Laurel Park, Stroud Mall
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST GROUP #1 CBL & Associates Management, Inc. (DE) Eastland Holding II, LLC (IL) Eastland Holding I, LLC (IL) 840 Greenbrier Circle CBL - 840 GC, LLC (VA) Laurel Park Place Laurel Park Retail Properties LLC (DE) • Stroud Mall (Fee) • Stroud Mall (L
Slide 5: Group #1 Mid Rivers, Brookfield Square, York Galleria
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST Mid Rivers Mall Mid Rivers Mall CMBS, LLC (DE) Brookfield Square Brookfield Square Joint Venture (OH) York Galleria York Galleria Limited Partnership (VA) Parkway Place Parkway Place SPE, LLC (DE) Parkway Place Limited Partnership (AL) CBL/York,
Slide 6: Group #1 Harford Mall, Old Hickory, St. Clair Square
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST GROUP #1 Harford Mall Harford Mall Business Trust (MD) CBL & Associates Limited Partnership (DE) CBL/Nashua Limited Partnership (NH) Old Hickory Mall Old Hickory Mall Venture II, LLC (DE) 95% 5% Old Hickory II, LLC (DE) CBL/Old Hickory I, LLC (D
Slide 7: Group #1 Monroeville Mall
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST Monroeville Mall — District CBL/Monroeville Expansion, L.P. (PA) Monroeville Mall and Annex CBL/Monroeville Partner, L.P. (PA) Monroeville Mall — Anchor Monroeville Anchor Limited Partnership (PA) CBL/Monroeville Expansion Partner, L.P. (PA) 99.
Slide 8: Group #3 Outparcel HoldCo entities
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST 8 SouthPark Mall — Dick’s Sporting Goods SouthPark Mall - DSG, LLC (VA) Northgate Mall Sears TBA — Outparcels Northgate SAC, LLC (TN) Pearland Town Center — Self Development (Parcel 8) Pearland - OP Parcel 8 , LLC (TX) CBL Outparcel HoldCo, LLC
Slide 9: Group #3 Outparcel HoldCo PropCos
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST CBL Monroeville Mall OP PropCo, LLC (PA) Monroeville Mall – Parcel(s) in the Main Project CBL Northpark Mall OP PropCo, LLC (MO) Northpark Mall – Parcel(s) in the Main Project CBL Hamilton Place Sears OP PropCo, LLC (TN) Hamilton Place — Sears (
Slide 10: Group #3 Outparcel HoldCo PropCos continued
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST CBL Southaven Towne Center OP PropCo, LLC (MS) Southaven Towne Center — Parcel(s) in the Main Project CBL St. Clair Square OP PropCo, LLC (IL) St. Clair Square — Parcel(s) in the Main Project CBL Landing at Arbor Place OP PropCo, LLC (GA) The La
Slide 11: Group #3 Outparcel HoldCo management parcels
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST CBL & Associates Limited Partnership (DE) West Towne Mall — Restaurant District West Towne District, LLC (WI) CBL Dakota Square Mall OP PropCo III, LLC (ND) Dakota Square — Mgmt GL Parcels CBL Shops at EastGate PropCo, LLC (OH) EastGate Mall — S
Slide 12: Group #3 Outparcel HoldCo Cross Creek, Hamilton Place
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST CBL Cross Creek Sears OP PropCo , LLC (NC) Cross Creek Sears – Parcel(s) in the Main Project CBL Outparcel HoldCo, LLC (DE) CBL & Associates Limited Partnership (DE) GROUP #3 CBL & Associates HoldCo II, LLC (DE) Hamilton Place — Sears Hamilton P
Slide 13: Group #3 Eastland, Jefferson, Cross Creek anchors
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST GROUP #3 Eastland Mall — Macy’s Eastland Anchor M, LLC (IL) Jefferson Mall — Macy ’ s Round 1 Jefferson Anchor M, LLC (IL) Jefferson Mall — Sears Jefferson Anchor S, LLC (KY) CBL & Associates HoldCo II, LLC (DE) 99.5% Cross Creek Anchor S GP, LL
Slide 14: Group #3 Courtyard at Hickory Hollow, CoolSprings
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST GROUP # 3 Courtyard at Hickory Hollow The Courtyard at Hickory Hollow Limited Partnership (DE) Tenn - GP Holdings, LLC (TN) Coolsprings Crossing Coolsprings Crossing Limited Partnership (TN) CBL Holdings II, Inc. (DE) CBL Holdings I, Inc. (DE) C
Slide 15: Group #3 Gunbarrel Pointe, Frontier Square
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST GROUP #3 Gunbarrel Pointe Gunbarrel Commons, LLC (TN) CBL & Associates Limited Partnership (DE) CBL Frontier Square PropCo, LLC (WY) Frontier Square Shoppes @ St. Clair Shoppes at St. Clair CMBS, LLC (DE) The Plaza at Fayette (including Parcel(s
Slide 16: Group #4 Coastal Grand, Mall of South Carolina
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST Supplemental Key for this Chart only MOSCM, LLC MOSCI, LLC GROUP #4 Mall of South Carolina Limited Partnership (SC) Coastal Grand Mall and District Coastal Grand CMBS, LLC (DE) Coastal Grand Mall — Dick ’ s Sporting Goods Coastal Grand - DSG, LL
Slide 17: Group #4 Oak Park, West County, CoolSprings
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST GROUP #4 Oak Park Holding I, LLC (KS) MM — 99.5 % 0.5% West County Center West County Mall CMBS, LLC (DE) Oak Park Mall Oak Park Mall, LLC (DE) CoolSprings Galleria CoolSprings Mall, LLC (DE) CoolSprings Macy ’ s Outparcel (leasehold) CoolSpring
Slide 18: Group #4 Friendly Shopping Center
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST Friendly Shopping Center CBL - Friendly Center CMBS, LLC (DE) Teachers ’ Retirement System of the State of Illinois (IL) MM — 50% 50% CBL - Friendly Center, LLC (NC) CBL & Associates Limited Partnership (DE) TR CBL - TRS I, LLC (DE) CBL - TRS Me
Slide 19: Group #4 Laredo Outlet, Northgate
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST BI Developments II, LLC (TN) Northgate Mall – Sears BI Developments, LLC (TN) Northgate Mall — JCP CBL Laredo Member, LLC (TX) Outlet Shoppes at Laredo Laredo Outlet Shoppes, LLC (DE) CBL & Associates Limited Partnership (DE) MM — 65% 35% Class
Slide 20: Group #4 Outlet Shoppes at Atlanta
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST Atlanta Outlet Outparcels, LLC (DE) Outlet Shoppes at Atlanta — Outparcel Outlet Shoppes at Atlanta — Tract 1A Atlanta Outlet Shoppes, LLC (DE) Atlanta Outlet JV, LLC (DE) Outlet Shoppes at Atlanta — Tract 1B and Others Outlet Shoppes at Atlanta
Slide 21: Group #4 Outlet Shoppes at El Paso
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST See prior pages for more detailed ownership of 3 rd party entities Supplemental Key for this Chart only Pleasant Lake Apts., LP Pleasant Lake - Skoien Investments, LLC Horizon El Paso, LLC El Paso Outlet Outparcels, LLC (DE) Outlet Shoppes at El
Slide 22: Group #4 Outlet Shoppes at Gettysburg
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST Gettysburg Outlet Center GP, Inc. (DE) GROUP # 4 See prior pages for more detailed ownership of 3 rd party entities Supplemental Key for this Chart only Individual Retirement Account of Thomas Berlin Equity Trust Company, custodian Pleasant Lake
Slide 23: Group #4 Outlet Shoppes of the Bluegrass
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST CBL & Associates Limited Partnership (DE) Outlet Shoppes of the Bluegrass Bluegrass Outlet Shoppes CMBS, LLC (DE) Outlet Shoppes of the Bluegrass — Phase II Bluegrass Outlet Shoppes II, LLC (KY) Louisville Outlet Shoppes, LLC (DE) Outlet Shoppes
Slide 24: Group #4 Self Storage joint ventures
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST GROUP #4 Adam J. Ellsworth CBL & Associates Limited Partnership (DE) CBL HP Self Storage Member, LLC (TN) CBL & Associates Management, Inc. (DE) EastGate Storage, LLC (OH) Eastgate Mall — Self Storage Self Storage at Mid Rivers, LLC (MO) Mid Riv
Slide 25: Group #4 York Town Center
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST • York Town Center • York Town Center — Former Pier 1 York Town Center Holding, LP (PA) York Town Center, LP (PA) York Town Center Holding GP, LLC (DE) GP — 0.001% 99.999 % CBL & Associates Limited Partnership (DE) High Real Estate Group, LLC (P
Slide 26: Group #4 Ambassador and Fremaux Town Center
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST Ambassador Town Center JV, L.L.C. (LA) Ambassador Town Center CBL & Associates Management, Inc. (DE) CBL Ambassador Member, LLC (LA) CBL Fremaux Member, LLC (DE) CBL & Associates Limited Partnership (DE) Stirling - Levis, L.L.C. (DE) Stirling Am
Slide 27: Group #4 Hammock Landing, Pavilion at Port Orange
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST GROUP # 4 Hammock Landing/West Melbourne, LLC (FL) The Pavilion at Port Orange, LLC (FL) Pavilion at Port Orange — Phase I Port Orange Town Center LLC (DE) Ogdensburg LLC (NY) CBL & Associates Limited Partnership (DE) West Melbourne I, LLC (DE)
Slide 28: Group #4 Promenade D'Iberville, Eagle Point
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST Encumbered by internal loan The Promenade D’Iberville, LLC (MS) Promenade at D ’ Iberville Shoppes at Eagle Point, LLC (TN) Shoppes at Eagle Point CBL Eagle Point Member, LLC (DE) CBL - D’Iberville Member, LLC (MS) D’Iberville Promenade, LLC (GA
Slide 29: Group #4 Northwoods, Alamance, Jefferson, Arbor Place
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST GROUP # 4 Northwoods Mall Northwoods Mall CMBS, LLC (DE) Alamance Crossing — East Alamance Crossing CMBS, LLC (DE) Jefferson Mall Jefferson Mall CMBS, LLC (DE) Arbor Place Main Mall (Arbor Place II, LLC) Arbor Place II, LLC (DE) Brookfield Squar
Slide 30: Group #4 Fayette Mall, Parkdale Mall
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST Parkdale Crossing Limited Partnership (TX) Fayette Mall Fayette Mall SPE, LLC (DE) Parkdale Mall Parkdale Mall CMBS, LLC (DE) • Parkdale Crossing (including Lifeway Christian Redevelopment) Parkdale Crossing CMBS, LLC (DE) Lexington Joint Ventur
Slide 31: Group #4 Cross Creek, Volusia, Westgate, Southpark
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST 99.5 % LP Cross Creek Mall Cross Creek Mall SPE, L.P. (NC) Cross Creek Mall, LLC (NC) CBL Holdings II, Inc. (DE) CBL Holdings I, Inc. (DE) CBL & Associates, Inc. (DE) & Third Parties CBL & Associates Limited Partnership (DE) CBL & Associates Pro
Slide 32: Group #4 Governor's Square, Kentucky Oaks
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST Supplemental Key for this Chart only Cafaro Governor’s Square Partnership Montgomery Partners, L.P. GROUP # 4 Governor’s Square Company (TN) Governor’s Square Governor’s Square Company IB (TN) Governor’s Square Plaza CBL & Associates Limited Par
Slide 33: Group #4 Louisville Outparcels, Statesboro
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST GROUP #4 Louisville Outlet Outparcels, LLC (DE) Outlet Shoppes of the Bluegrass — OP Tract 8 CBL & Associates Management, Inc. (DE) CBL & Associates Limited Partnership (DE) CBL Louisville Outparcel Member, LLC (KY) Horizon Louisville Outlets, L
Slide 34: Group #4 Asheville, Eastgate, Greenbrier
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST CBL & Associates Limited Partnership (DE) GROUP #4 Asheville Mall Asheville Mall CMBS, LLC (DE) Eastgate Mall Eastgate Mall CMBS, LLC (DE) Greenbrier Mall Greenbrier Mall II, LLC (DE) Asheville, LLC (NC) CBL/Eastgate Mall, LLC (DE) Eastgate Comp
Slide 35: Group #4 Park Plaza Mall
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST CBL & Associates Limited Partnership (DE) GROUP #4 Park Plaza Mall Park Plaza Mall CMBS, LLC (DE) CW Joint Venture, LLC (DE ) Arbor Place Limited Partnership (GA) 81.99% Multi - GP Holdings, LLC (DE) 1 % GP 99% LP CBL & Associates HoldCo II, LLC
Slide 36: Group #4 Hamilton Place Aloft Hotel
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST Supplemental Key for this Chart only The Lewis Forrest Conner Family Trust The Holland Ashley Conner Family Trust CBL & Associates Limited Partnership (DE) GROUP #4 CBL & Associates HoldCo II, LLC (DE) Vision - CBL Hamilton Place, LLC (TN) Hamil
Slide 37: Group #4 Lebcon Associates
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST Lebcon Associates (TN) Bassam Issa CBL Lebcon HoldCo, LLC (TN) The Holland Ashley Conner Family Trust The Lewis Forrest Conner Family Trust CBL Bullseye Member, LLC (TN) Amin Issa CBL & Associates Limited Partnership (DE) 5 % LP 25% 20% MM . 5 5
Slide 38: Group #7 Hamilton Corner, Hamilton Crossing
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST GROUP #7 Hamilton Corner Hamilton Corner CMBS General Partnership (TN) CBL Lebcon HoldCo, LLC (TN) The Holland Ashley Conner Family Trust The Lewis Forrest Conner Family Trust Hamilton Corner GP I, LLC (DE) Hamilton Corner GP II, LLC (DE) CBL &
Slide 39: Group #7 The Terrace, Shoppes at Hamilton Place
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST Supplemental Key for this Chart only The Lewis Forrest Conner Family Trust The Holland Ashley Conner Family Trust CBL Terrace Limited Partnership (TN) The Terrace CBL & Associates Limited Partnership (DE) CBL & Associates Management, Inc. (DE) 9
Slide 40: Group #7 CBL Center
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST Supplemental Key for this Chart only The Lewis Forrest Conner Family Trust The Holland Ashley Conner Family Trust Jarnigan Road II, LLC (DE) CBL Center — Phase I & II CBL & Associates Limited Partnership (DE) CBL & Associates Management, Inc. (D
Slide 41: Group #7 Hamilton Place Mall
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST Hamilton Place Mall and OP Hamilton Place CMBS, LLC (DE) Lebcon Associates (TN) CBL Lebcon HoldCo, LLC (TN) The Holland Ashley Conner Family Trust The Lewis Forrest Conner Family Trust CBL & Associates Limited Partnership (DE) 5% LP GROUP # 7 CB
Slide 42: Group #8 Management HoldCo outparcels
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST GROUP # 8 CBL Arbor Place Mgmt OP PropCo, LLC (GA) Arbor Place — OP CBL & Associates Management, Inc. (DE) Hickory Point Mall — OP Hickory Point Outparcels, LLC (IL) CBL & Associates Limited Partnership (DE) Imperial Valley Mall — OP Imperial Va
Slide 43: Group #8 Gulf Coast, Imperial Valley, Southaven
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST GROUP #8 Gulf Coast Town Center — Phase III — Land JG Gulf Coast Town Center LLC (OH) Imperial Valley Commons — Kohl’s and Land Imperial Valley Commons, L.P. (CA) 1% GP IV Commons, LLC (CA) Gulf Coast Town Center — Peripheral IV — Land GCTC Peri
Slide 44: Group #8 EastGate, Cross Creek, Hanes Mall
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST CBL EastGate Self Development PropCo , LLC (OH) EastGate Mall — Self Development CBL Outparcel HoldCo, LLC (DE) CBL & Associates Limited Partnership (DE) GROUP #8 CBL Cross Creek Sears OP PropCo II, LLC (NC) Cross Creek Mall — Sears Parcel(s) in
Slide 45: Group #8 D'Iberville, Northpark, Dakota Square
PRIVILEGED AND CONFIDENTIAL SUBJECT TO COMMON INTEREST GROUP #8 Gulf Coast Galleria ( D'Iberville CBL Land, LLC) D ’ Iberville CBL Land, LLC (MS) CBL & Associates Limited Partnership (DE) CBL & Associates HoldCo II, LLC (DE) CBL Northpark Mall OP PropCo II, LLC (MO) Northpark Mall/Joplin, LLC Hollyw
Slide 46: Exit Credit Facility Key
KEY Items Non - member Manager Equity Ownership Abbreviations CM — Chief Manager LP — Limited Partner GP — General Partner Existing Entity Currently Unencumbered Property Owns Property in Wells Fargo Borrowing Base Colors Shapes New entity to be formed General Notes 1. Ownership assumed to be 100% u
Slide 47: Upper Tier Ownership
UPPER TIER OWNERSHIP CBL & Associates Properties, Inc. (DE) CBL & Associates Limited Partnership (DE) CBL Holdings II, Inc. (DE) CBL Holdings I, Inc. (DE) CBL & Associates, Inc. (DE) & Third Parties GP CBL & Associates HoldCo I, LLC (DE) New Bank Borrower CBL & Associates HoldCo II, LLC (DE) New Not
Slide 48: Wells Fargo: Southaven, Valley View, CherryVale, Madison
WELLS FARGO CBL & Associates HoldCo I, LLC (DE) • Southaven Towne Center • Southaven Towne Center – Self Development Southaven, Mississippi Southaven Towne Center II, LLC (DE) Valley View Mall Roanoke, Virginia Valley View Mall SPE, LLC (DE) CherryVale Mall, LLC (DE) CherryVale Mall Rockford, Illino
Slide 49: Wells Fargo: Imperial Valley, Hanes, Kirkwood, Layton Hills
WELLS FARGO Imperial Valley Mall GP, LLC (DE) GP — 0.5 % Imperial Valley Mall II, L.P. (CA) Imperial Valley Mall El Centro, California JG Winston - Salem, LLC (OH) Hanes Mall Winston Salem, North Carolina CBL & Associates HoldCo I, LLC (DE) Kirkwood Mall Acquisition LLC (DE) Kirkwood Mall Bismarck,
Slide 50: Wells Fargo: Mall del Norte, Mayfaire, Post Oak, Frontier
WELLS FARGO Mall del Norte, LLC (TX) Mall Del Norte & Cinemark Laredo, Texas CBL & Associates HoldCo I, LLC (DE) Mayfaire GP, LLC (DE) GP — 1 % Mayfaire Town Center, LP (DE) Mayfaire Town Center Wilmington, North Carolina Hixson Mall, LLC (TN) Northgate Mall Hixson, Tennessee POM - College Station ,
Slide 51: Wells Fargo: Pearland Town Center, Richland Mall
WELLS FARGO Pearland Town Center GP, LLC (DE) GP — 0.5 % Pearland Ground, LLC (TX) Pearland Town Center Office Pearland, Texas CBL & Associates HoldCo I, LLC (DE) CBL RM - Waco, LLC (TX) Richland Mall Waco, Texas 99.5 % LP Pearland Town Center Limited Partnership (TX) • Pearland Town Center • Pearla
Slide 52: Wells Fargo: Turtle Creek, Westmoreland, Sunrise Mall
WELLS FARGO Turtle Creek Limited Partnership (MS) Turtle Creek Mall Hattiesburg, Mississippi CBL & Associates HoldCo I, LLC (DE) 99.5 % LP 0.5% GP 0.1% LP 99.9 % GP Turtle Creek GP LLC (DE) CBL & Associates Limited Partnership (DE) CBL/Westmoreland I, LLC (DE) CBL/Westmoreland II, LLC (PA) CBL/Westm
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