<SEC-DOCUMENT>0000950142-21-003674.txt : 20211110
<SEC-HEADER>0000950142-21-003674.hdr.sgml : 20211110
<ACCEPTANCE-DATETIME>20211110160520
ACCESSION NUMBER:		0000950142-21-003674
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20211102
FILED AS OF DATE:		20211110
DATE AS OF CHANGE:		20211110

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Vazales Kaj
		CENTRAL INDEX KEY:			0001601356

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12494
		FILM NUMBER:		211396490

	MAIL ADDRESS:	
		STREET 1:		C/O OAKTREE CAPITAL MGMT., L.P.
		STREET 2:		333 S. GRAND AVE. 28TH FLOOR
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90071

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CBL & ASSOCIATES PROPERTIES INC
		CENTRAL INDEX KEY:			0000910612
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				621545718
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2030 HAMILTON PLACE BVLD, SUITE 500
		STREET 2:		CBL CENTER
		CITY:			CHATTANOOGA
		STATE:			TN
		ZIP:			37421
		BUSINESS PHONE:		4238550001

	MAIL ADDRESS:	
		STREET 1:		2030 HAMILTON PLACE BVLD, SUITE 500
		STREET 2:		CBL CENTER
		CITY:			CHATTANOOGA
		STATE:			TN
		ZIP:			37421
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>es210201534_3-vazales.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2021-11-02</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000910612</issuerCik>
        <issuerName>CBL &amp; ASSOCIATES PROPERTIES INC</issuerName>
        <issuerTradingSymbol>CBL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001601356</rptOwnerCik>
            <rptOwnerName>Vazales Kaj</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O OAKTREE CAPITAL MANAGEMENT, L.P.</rptOwnerStreet1>
            <rptOwnerStreet2>333 S. GRAND AVE., 28TH FL.</rptOwnerStreet2>
            <rptOwnerCity>LOS ANGELES</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90071</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <remarks>The reporting person is a Managing Director of Oaktree Capital Management, L.P. (&quot;Oaktree&quot;), a registered investment adviser under the Investment Advisers Act of 1940, as amended. The shares reported herein do not include 2,164,299 shares of common stock of the Issuer beneficially owned by OCM FIE, LLC, an affiliate of Oaktree. The reporting person hereby disclaims beneficial ownership of any such shares beneficially owned by OCM FIE, LLC, except to the extent of any pecuniary interest therein.</remarks>

    <ownerSignature>
        <signatureName>/s/ Kaj Vazales</signatureName>
        <signatureDate>2021-11-10</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
