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Schedule III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

Schedule III

CBL & ASSOCIATES PROPERTIES, INC.

REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

At December 31, 2022

(In thousands)


				Initial Cost (1)													Gross Carry Amounts at Close of Period
Description /Location	Encumbrances (2)			Land		Buildings and Improvements		Costs Capitalized Subsequent to Acquisition			Sales of Outparcel Land			Fresh Start Adjustments			Land		Buildings and Improvements		Total (3)		Accumulated Depreciation (4)			Date of Construction / Acquisition
MALLS:
Alamance Crossing Burlington, NC	$	59,947		$	20,853	$	62,852	$	39,707		$	(3,962	)	$	(96,897	)	$	9,603	$	12,950	$	22,553	$	(1,695	)	2007
Arbor Place Atlanta (Douglasville), GA		97,244			8,508		95,088		27,323			—			(89,396	)		3,050		38,473		41,523		(4,514	)	1998-1999
Brookfield Square Brookfield, WI		18,240			8,996		78,533		100,040			(5,208	)		(146,235	)		10,282		25,844		36,126		(3,824	)	2001
CherryVale Mall Rockford, IL		—	(5)		11,892		64,117		56,681			(1,667	)		(113,543	)		5,360		12,120		17,480		(3,062	)	2001
Cross Creek Mall Fayetteville, NC		97,431			19,155		104,378		31,758			—			(49,534	)		4,372		101,385		105,757		(10,004	)	2003
Dakota Square Mall Minot, ND		—			4,552		87,625		27,320			—			(96,630	)		5,179		17,688		22,867		(1,538	)	2012
East Towne Mall Madison, WI		—	(5)		4,496		63,867		64,153			(909	)		(123,012	)		4,413		4,182		8,595		(1,299	)	2002
Eastland Mall Bloomington, IL		—			5,746		75,893		(71,318	)		(753	)		(5,600	)		1,921		2,047		3,968		(415	)	2005
Fayette Mall Lexington, KY		127,568			25,205		84,256		107,248			—			(87,361	)		11,204		118,144		129,348		(8,045	)	2001
Frontier Mall Cheyenne, WY		—	(5)		2,681		15,858		21,438			(83	)		(31,588	)		3,715		4,591		8,306		(775	)	1984-1985
Hamilton Place Chattanooga, TN		93,997			3,532		42,619		52,230			(2,384	)		(35,984	)		9,640		50,373		60,013		(4,589	)	1986-1987
Hanes Mall Winston-Salem, NC		—	(5)		17,176		133,376		49,866			(1,767	)		(147,963	)		13,968		36,720		50,688		(3,724	)	2001
Harford Mall Bel Air, MD		—			8,699		45,704		17,720			—			(65,736	)		4,582		1,805		6,387		(479	)	2003
Imperial Valley Mall El Centro, CA		—	(5)		35,378		71,753		2,422			—			(92,019	)		4,810		12,724		17,534		(1,995	)	2012
Jefferson Mall Louisville, KY		55,817			13,125		40,234		28,061			(521	)		(70,099	)		4,625		6,175		10,800		(1,605	)	2001
Kirkwood Mall Bismarck, ND		—	(5)		3,368		118,945		38,098			—			(126,278	)		8,114		26,019		34,133		(2,072	)	2012
Laurel Park Place Livonia, MI		—			13,289		92,579		(97,461	)		—			(3,630	)		751		4,026		4,777		(847	)	2005
Layton Hills Mall Layton, UT		—	(5)		20,464		99,836		(13,447	)		(1,165	)		(74,968	)		10,261		20,459		30,720		(1,491	)	2005
Mall del Norte Laredo, TX		—	(5)		21,734		142,049		58,241			(149	)		(148,232	)		13,875		59,768		73,643		(5,105	)	2004

Schedule III

CBL & ASSOCIATES PROPERTIES, INC.

REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

At December 31, 2022

(In thousands)


				Initial Cost (1)													Gross Carry Amounts at Close of Period
Description /Location	Encumbrances (2)			Land		Buildings and Improvements		Costs Capitalized Subsequent to Acquisition			Sales of Outparcel Land			Fresh Start Adjustments			Land		Buildings and Improvements		Total (3)		Accumulated Depreciation (4)			Date of Construction / Acquisition
Mayfaire Town Center Wilmington, NC	$	—	(5)	$	26,333	$	101,087	$	20,445		$	—		$	(107,804	)	$	7,164	$	32,897	$	40,061	$	(3,669	)	2015
Meridian Mall Lansing, MI		—			2,797		103,678		62,492			—			(150,764	)		8,573		9,630		18,203		(1,873	)	1998
Mid Rivers Mall St. Peters, MO		—			16,384		170,582		(135,442	)		(4,174	)		(27,787	)		9,191		10,372		19,563		(1,873	)	2007
Monroeville Mall Pittsburgh, PA		—			22,911		177,214		(137,378	)		—			(36,624	)		12,379		13,744		26,123		(2,122	)	2004
Northgate Mall Chattanooga, TN		—	(5)		2,330		8,960		24,215			(492	)		(23,815	)		3,413		7,785		11,198		(827	)	2011
Northpark Mall Joplin, MO		—			9,977		65,481		39,566			—			(99,164	)		7,084		8,776		15,860		(1,667	)	2004
Northwoods Mall North Charleston, SC		57,059			14,867		49,647		29,143			(2,339	)		(52,958	)		9,402		28,958		38,360		(4,000	)	2001
Old Hickory Mall Jackson, TN		—			15,527		29,413		(32,561	)		(362	)		(9,431	)		800		1,786		2,586		(667	)	2001
The Outlet Shoppes at Gettysburg Gettysburg, PA		20,974			20,779		22,180		(30,177	)		—			(47	)		7,822		4,913		12,735		(1,126	)	2012
The Outlet Shoppes at Laredo Laredo, TX		38,250			11,000		97,353		(65,852	)		—			(26,318	)		3,741		12,442		16,183		(970	)	2017
Parkdale Mall and Crossing Beaumont, TX		63,136			22,060		29,842		(5,195	)		(874	)		(21,766	)		11,364		12,703		24,067		(2,217	)	2001
Parkway Place Huntsville, AL		—			6,364		67,067		6,729			—			(43,144	)		10,067		26,949		37,016		(2,926	)	2010
Pearland Town Center Pearland, TX		—	(5)		16,300		108,615		25,528			(857	)		(106,531	)		16,896		26,159		43,055		(2,827	)	2008
Post Oak Mall College Station, TX		—	(5)		3,936		48,948		17,495			(327	)		(52,738	)		6,206		11,108		17,314		(1,416	)	1984-1985
Richland Mall Waco, TX		—	(5)		9,874		34,793		24,235			(1,225	)		(44,167	)		8,793		14,717		23,510		(1,882	)	2002
South County Center St. Louis, MO		—			15,754		159,249		3,576			—			(160,681	)		11,165		6,733		17,898		(2,025	)	2007
Southaven Towne Center Southaven, MS		—	(5)		14,315		29,380		2,082			—			(27,929	)		10,163		7,685		17,848		(1,078	)	2005
Southpark Mall Colonial Heights, VA		54,022			9,501		73,262		30,778			—			(102,613	)		4,193		6,735		10,928		(882	)	2003
St. Clair Square Fairview Heights, IL		—			11,027		75,620		36,343			—			(82,113	)		8,150		32,727		40,877		(3,583	)	1996
Stroud Mall Stroudsburg, PA		—			14,711		23,936		(24,617	)		—			(5,698	)		2,942		5,390		8,332		(868	)	1998
Sunrise Mall Brownsville, TX		—	(5)		11,156		59,047		14,482			—			(45,064	)		14,999		24,622		39,621		(4,397	)	2003
Turtle Creek Mall Hattiesburg, MS		—	(5)		2,345		26,418		18,634			—			(26,937	)		3,977		16,483		20,460		(2,513	)	1993-1995
Valley View Mall Roanoke, VA		—	(5)		15,985		77,771		24,045			—			(89,309	)		9,499		18,993		28,492		(2,728	)	2003

Schedule III

CBL & ASSOCIATES PROPERTIES, INC.

REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

At December 31, 2022

(In thousands)


				Initial Cost (1)													Gross Carry Amounts at Close of Period
Description /Location	Encumbrances (2)			Land		Buildings and Improvements		Costs Capitalized Subsequent to Acquisition			Sales of Outparcel Land			Fresh Start Adjustments			Land		Buildings and Improvements		Total (3)		Accumulated Depreciation (4)			Date of Construction / Acquisition
Volusia Mall Daytona Beach, FL	$	40,967		$	2,526	$	120,242	$	21,791		$	—		$	(128,334	)	$	11,078	$	5,147	$	16,225	$	(1,250	)	2004
West Towne Mall Madison, WI		—	(5)		8,912		83,084		44,523			—			(84,533	)		14,623		37,363		51,986		(4,027	)	2002
WestGate Mall Spartanburg, SC		29,002			2,149		23,257		49,732			(432	)		(68,403	)		3,553		2,750		6,303		(474	)	1995
Westmoreland Mall Greensburg, PA		—	(5)		4,621		84,215		35,348			(1,240	)		(107,620	)		6,389		8,935		15,324		(2,705	)	2002
York Galleria York, PA		—			5,757		63,316		23,508			—			(84,499	)		1,767		6,315		8,082		(1,548	)	1995
OTHER PROPERTIES:
840 Greenbrier Circle Chesapeake, VA		—			2,096		3,091		1,152			—			(1,626	)		1,387		3,326		4,713		(200	)	2007
Annex at Monroeville Pittsburgh, PA		—			—		29,496		561			—			(25,862	)		1,454		2,741		4,195		(624	)	2004
CBL Center Chattanooga, TN		—			1,332		24,675		1,766			—			(17,030	)		3,081		7,662		10,743		(541	)	2001
CBL Center II Chattanooga, TN		—			22		13,648		546			—			(9,880	)		965		3,371		4,336		(176	)	2008
CoolSprings Crossing Nashville, TN		17,732			2,803		14,985		(2,871	)		—			(10,291	)		2,969		1,657		4,626		(249	)	1991-1993
Courtyard at Hickory Hollow Nashville, TN		4,589			3,314		2,771		482			(231	)		(1,181	)		1,844		3,311		5,155		(228	)	1998
Frontier Square Cheyenne, WY		2,929			346		684		672			(86	)		612			904		1,324		2,228		(115	)	1985
Gunbarrel Pointe Chattanooga, TN		16,736			4,170		10,874		4,341			—			(5,974	)		8,099		5,312		13,411		(341	)	2000
Hamilton Corner Chattanooga, TN		16,638			630		5,532		8,646			—			(2,368	)		4,981		7,459		12,440		(480	)	1986-1987
Hamilton Crossing Chattanooga, TN		11,688			4,014		5,906		7,009			(1,370	)		(5,550	)		5,300		4,709		10,009		(344	)	1987
Harford Annex Bel Air, MD		13,282			3,117		9,718		1,015			—			(2,430	)		3,117		8,303		11,420		(437	)	2003
The Landing at Arbor Place Atlanta (Douglasville), GA		5,813			7,238		14,330		1,250			(2,242	)		(18,627	)		757		1,192		1,949		(277	)	1998-1999
Layton Convenience Center Layton, UT (5)		—	(5)		—		8		4,184			—			1,947			3,574		2,565		6,139		(524	)	2005
Layton Hills Plaza Layton, UT		—	(5)		—		2		1,008			—			1,243			826		1,427		2,253		(105	)	2005
Parkdale Corner Beaumont, TX		4,180			1,255		2,657		1			—			(896	)		1,305		1,712		3,017		(115	)	2002
Pearland Office Pearland, TX		—	(5)		—		7,849		2,634			—			(3,210	)		—		7,273		7,273		(801	)	2009
The Plaza at Fayette Lexington, KY		23,642			9,531		27,646		1,265			—			(28,520	)		2,527		7,395		9,922		(1,301	)	2006

Schedule III

CBL & ASSOCIATES PROPERTIES, INC.

REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

At December 31, 2022

(In thousands)


				Initial Cost (1)													Gross Carry Amounts at Close of Period
Description /Location	Encumbrances (2)			Land		Buildings and Improvements		Costs Capitalized Subsequent to Acquisition			Sales of Outparcel Land			Fresh Start Adjustments			Land		Buildings and Improvements		Total (3)		Accumulated Depreciation (4)			Date of Construction / Acquisition
The Promenade D'lberville D'lberville, MS	$	—		$	16,278	$	48,806	$	28,901		$	(706	)	$	(53,513	)	$	8,728	$	31,038	$	39,766	$	(3,588	)	2009
The Shoppes at Hamilton Place Chattanooga, TN		19,023			5,837		16,326		1,285			—			(10,827	)		5,060		7,561		12,621		(946	)	2003
The Shoppes at St. Clair Square Fairview Heights, IL		16,912			8,250		23,623		910			(5,044	)		(19,688	)		2,783		5,268		8,051		(546	)	2007
Sunrise Commons Brownsville, TX		8,704			1,013		7,525		2,024			—			(2,845	)		3,504		4,213		7,717		(293	)	2003
The Terrace Chattanooga, TN		17,651			4,166		9,929		8,104			—			(9,404	)		8,982		3,813		12,795		(346	)	1997
West Towne Crossing Madison, WI		26,317			1,784		2,955		7,307			—			4,227			5,831		10,442		16,273		(493	)	1998
WestGate Crossing Spartanburg, SC		7,776			1,082		3,422		7,896			—			(5,426	)		2,047		4,927		6,974		(390	)	1997
Westmoreland Crossing Greensburg, PA		—	(5)		2,898		21,167		9,302			—			(23,389	)		3,119		6,859		9,978		(2,112	)	2002
OUTPARCELS:															—
Outparcel properties		192,857			36,094		88,102		64,189			—			669			99,040		90,014		189,054		(5,860	)	Various
DISPOSITIONS:
Greenbriar Mall Chesapeake, VA		—			3,181		107,355		(87,506	)		(626	)		(22,404	)		—		—		—		—		2004
Other		—			43,235		21,318		(10,581	)		(1,800	)		12,654			59,413		5,413		64,826		(251	)	Various
Developments in progress consisting of construction and development properties		—			—		—		5,576			—			—			—		5,576		5,576		—
TOTALS	$	1,260,123		$	732,733	$	4,057,619	$	734,616		$	(42,995	)	$	(3,681,085	)	$	596,715	$	1,204,173	$	1,800,888	$	(136,901	)

(1)

Initial cost represents the total cost capitalized including carrying cost at the end of the first fiscal year in which the property opened or was acquired.

(2)

Encumbrances represent the outstanding balance of the mortgage and other indebtedness balance at December 31, 2022, excluding debt discounts, if applicable.

(3)

The aggregate cost of land and buildings and improvements for federal income tax purposes is approximately $6.400 billion.

(4)

Depreciation for all properties is computed over the useful life which is generally 30 - 40 years for buildings, 10 - 20 years for certain improvements and 5 - 10 years for equipment and fixtures.

(5)

Encumbered by the secured term loan.

Schedule III

CBL & ASSOCIATES PROPERTIES, INC.

REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

At December 31, 2022

(In thousands)

The changes in real estate assets and accumulated depreciation for the Successor year ended December 31, 2022, the Successor period ended December 31, 2021, the Predecessor period ended October 31, 2021 and the Predecessor year ended December 31, 2020 are set forth below (in thousands):


	Successor						Predecessor
	As of December 31,			As of December 31,			As of October 31,			As of December 31,
	2022			2021			2021			2020
REAL ESTATE ASSETS:
Balance at beginning of period	$	1,789,055		$	1,797,332		$	5,859,113		$	6,411,400
Additions during the period:
Additions and improvements		37,080			5,599			31,278			36,337
Acquisitions of real estate assets		5,766			—			—			—
Deductions during the period:
Disposals, deconsolidations and accumulated depreciation on impairments		(30,752	)		(13,876	)		(250,136	)		(377,165	)
Fresh start accounting adjustments		—			—			(3,683,547	)		—
Transfers to (from) real estate assets		(261	)		—			(11,209	)		332
Impairment of real estate assets		—			—			(148,167	)		(211,791	)
Balance at end of period	$	1,800,888		$	1,789,055		$	1,797,332		$	5,859,113

ACCUMULATED DEPRECIATION:
Balance at beginning of period	$	19,937		$	—		$	2,241,421		$	2,349,404
Depreciation expense		123,695			20,543			152,973			205,671
Fresh start accounting adjustments		—			—			(2,252,275	)		—
Transfers from real estate assets		15			—			—			—
Accumulated depreciation on real estate assets sold, retired, deconsolidated or impaired		(6,746	)		(606	)		(142,119	)		(313,654	)
Balance at end of period	$	136,901		$	19,937		$	—		$	2,241,421