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Schedule III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2023

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, 2023

(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 West Burlington, NC	$	18,445		$	8,344	$	19,549	$	240		$	(3,962	)	$	(11,969	)	$	6,242	$	5,960	$	12,202	$	(935	)	2007
Arbor Place Atlanta (Douglasville), GA		93,452			8,508		95,088		28,211			—			(89,396	)		3,050		39,361		42,411		(7,468	)	1998-1999
Brookfield Square Brookfield, WI		15,339			8,996		78,533		100,088			(5,208	)		(146,235	)		10,284		25,890		36,174		(6,900	)	2001
CherryVale Mall Rockford, IL		—	(5)		11,892		64,117		56,309			(1,667	)		(113,543	)		5,360		11,748		17,108		(4,243	)	2001
Cross Creek Mall Fayetteville, NC		92,363			19,155		104,378		33,451			—			(49,534	)		4,372		103,078		107,450		(15,890	)	2003
Dakota Square Mall Minot, ND		—			4,552		87,625		27,451			—			(96,630	)		5,179		17,819		22,998		(2,883	)	2012
East Towne Mall Madison, WI		—	(5)		4,496		63,867		64,119			(909	)		(123,012	)		4,413		4,148		8,561		(2,309	)	2002
Eastland Mall Bloomington, IL		—			5,746		75,893		(71,318	)		(753	)		(5,600	)		1,921		2,047		3,968		(629	)	2005
Fayette Mall Lexington, KY		119,303			25,205		84,256		108,443			—			(87,361	)		11,203		119,340		130,543		(13,958	)	2001
Frontier Mall Cheyenne, WY		—	(5)		2,681		15,858		21,574			(83	)		(31,588	)		3,715		4,727		8,442		(1,441	)	1984-1985
Hamilton Place Chattanooga, TN		91,649			3,532		42,619		54,812			(2,933	)		(35,984	)		9,091		52,955		62,046		(8,232	)	1986-1987
Hanes Mall Winston-Salem, NC		—	(5)		17,176		133,376		50,944			(1,767	)		(147,963	)		13,968		37,798		51,766		(6,215	)	2001
Harford Mall Bel Air, MD		—			8,699		45,704		17,714			—			(65,736	)		4,582		1,799		6,381		(736	)	2003
Imperial Valley Mall El Centro, CA		—	(5)		35,378		71,753		3,836			—			(92,019	)		4,810		14,138		18,948		(3,455	)	2012
Jefferson Mall Louisville, KY		53,526			13,125		40,234		28,046			(521	)		(70,099	)		4,625		6,160		10,785		(2,731	)	2001
Kirkwood Mall Bismarck, ND		—	(5)		3,368		118,945		40,569			—			(126,278	)		8,114		28,490		36,604		(3,767	)	2012
Laurel Park Place Livonia, MI		—			13,289		92,579		(97,644	)		—			(3,630	)		751		3,843		4,594		(1,258	)	2005
Layton Hills Mall Layton, UT		—	(5)		20,464		99,836		(13,356	)		(1,165	)		(74,968	)		10,261		20,550		30,811		(2,590	)	2005
Mall del Norte Laredo, TX		—	(5)		21,734		142,049		58,203			(149	)		(148,232	)		13,875		59,730		73,605		(8,760	)	2004

Schedule III

CBL & ASSOCIATES PROPERTIES, INC.

REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

At December 31, 2023

(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	$	23,578		$	—		$	(107,804	)	$	7,165	$	36,029	$	43,194	$	(6,550	)	2015
Meridian Mall Lansing, MI		—			2,797		103,678		62,528			—			(150,764	)		8,573		9,666		18,239		(3,286	)	1998
Mid Rivers Mall St. Peters, MO		—			16,384		170,582		(134,795	)		(4,174	)		(27,787	)		9,191		11,019		20,210		(3,285	)	2007
Monroeville Mall Pittsburgh, PA		—			22,911		177,214		(136,413	)		—			(36,624	)		12,379		14,709		27,088		(3,457	)	2004
Northgate Mall Chattanooga, TN		—	(5)		2,330		8,960		24,019			(492	)		(23,815	)		3,413		7,589		11,002		(1,389	)	2011
Northpark Mall Joplin, MO		—			9,977		65,481		39,737			—			(99,164	)		7,084		8,947		16,031		(2,759	)	2004
Northwoods Mall North Charleston, SC		54,086			14,867		49,647		30,358			(2,339	)		(52,958	)		9,402		30,173		39,575		(6,638	)	2001
Old Hickory Mall Jackson, TN		—			15,527		29,413		(32,628	)		(362	)		(9,431	)		800		1,719		2,519		(822	)	2001
The Outlet Shoppes at Gettysburg Gettysburg, PA		20,646			20,779		22,180		(29,702	)		—			(47	)		7,822		5,388		13,210		(1,707	)	2012
The Outlet Shoppes at Laredo Laredo, TX		33,780			11,000		97,353		(65,798	)		—			(26,318	)		3,741		12,496		16,237		(1,588	)	2017
Parkdale Mall and Crossing Beaumont, TX		58,216			22,060		29,842		(5,155	)		(874	)		(21,766	)		11,364		12,743		24,107		(3,748	)	2001
Parkway Place Huntsville, AL		—			6,364		67,067		8,006			—			(43,144	)		10,067		28,226		38,293		(4,678	)	2010
Pearland Town Center Pearland, TX		—	(5)		16,300		108,615		25,794			(857	)		(106,531	)		16,896		26,425		43,321		(4,826	)	2008
Post Oak Mall College Station, TX		—	(5)		3,936		48,948		17,570			(327	)		(52,738	)		6,206		11,183		17,389		(2,481	)	1984-1985
Richland Mall Waco, TX		—	(5)		9,874		34,793		24,912			(1,225	)		(44,167	)		8,793		15,394		24,187		(3,147	)	2002
South County Center St. Louis, MO		—			15,754		159,249		2,978			—			(160,681	)		11,165		6,135		17,300		(2,802	)	2007
Southaven Towne Center Southaven, MS		—	(5)		14,315		29,380		1,680			—			(27,929	)		10,163		7,283		17,446		(1,253	)	2005
Southpark Mall Colonial Heights, VA		51,719			9,501		73,262		30,724			—			(102,613	)		4,193		6,681		10,874		(1,571	)	2003
St. Clair Square Fairview Heights, IL		—			11,027		75,620		36,384			—			(82,113	)		8,150		32,768		40,918		(6,017	)	1996
Stroud Mall Stroudsburg, PA		—			14,711		23,936		(24,533	)		—			(5,698	)		2,942		5,474		8,416		(1,517	)	1998
Sunrise Mall Brownsville, TX		—	(5)		11,156		59,047		15,624			—			(45,064	)		14,999		25,764		40,763		(7,342	)	2003
Turtle Creek Mall Hattiesburg, MS		—	(5)		2,345		26,418		18,631			—			(26,937	)		3,977		16,480		20,457		(4,108	)	1993-1995
Valley View Mall Roanoke, VA		—	(5)		15,985		77,771		23,960			—			(89,309	)		9,499		18,908		28,407		(4,195	)	2003

Schedule III

CBL & ASSOCIATES PROPERTIES, INC.

REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

At December 31, 2023

(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	$	36,613		$	2,526	$	120,242	$	21,689		$	(222	)	$	(128,334	)	$	10,856	$	5,045	$	15,901	$	(1,883	)	2004
West Towne Mall Madison, WI		—	(5)		8,912		83,084		45,324			—			(84,533	)		14,623		38,164		52,787		(7,094	)	2002
Westmoreland Mall Greensburg, PA		—	(5)		4,621		84,215		35,926			(1,240	)		(107,620	)		6,389		9,513		15,902		(4,437	)	2002
York Galleria York, PA		—			5,757		63,316		23,683			—			(84,499	)		1,767		6,490		8,257		(2,435	)	1995
OTHER PROPERTIES:
840 Greenbrier Circle Chesapeake, VA		—			2,096		3,091		2,073			—			(1,626	)		1,387		4,247		5,634		(358	)	2007
Annex at Monroeville Pittsburgh, PA		—			—		29,496		599			—			(25,862	)		1,454		2,779		4,233		(1,097	)	2004
CBL Center Chattanooga, TN		—			1,332		24,675		2,622			—			(17,030	)		3,081		8,518		11,599		(1,102	)	2001
CBL Center II Chattanooga, TN		—			22		13,648		1,333			—			(9,880	)		965		4,158		5,123		(354	)	2008
CoolSprings Crossing Nashville, TN		17,651			2,803		14,985		(2,843	)		—			(10,291	)		2,969		1,685		4,654		(458	)	1991-1993
CoolSprings JC Penney Franklin, TN		—			3,573		2,193		—			—			—			3,573		2,193		5,766		(104	)	2022
Courtyard at Hickory Hollow Nashville, TN		4,568			3,314		2,771		482			(231	)		(1,181	)		1,844		3,311		5,155		(425	)	1998
Frontier Square Cheyenne, WY		2,915			346		684		955			(86	)		612			904		1,607		2,511		(196	)	1985
Gunbarrel Pointe Chattanooga, TN		16,660			4,170		10,874		4,490			—			(5,974	)		8,099		5,461		13,560		(708	)	2000
Hamilton Corner Chattanooga, TN		16,638			630		5,532		8,646			—			(2,368	)		4,981		7,459		12,440		(872	)	1986-1987
Hamilton Crossing Chattanooga, TN		11,688			4,014		5,906		7,416			(1,370	)		(5,550	)		5,300		5,116		10,416		(666	)	1987
Harford Annex Bel Air, MD		13,222			3,117		9,718		1,312			—			(2,430	)		3,117		8,600		11,717		(813	)	2003
The Landing at Arbor Place Atlanta (Douglasville), GA		5,786			7,238		14,330		3,189			(2,242	)		(18,627	)		1,587		2,301		3,888		(545	)	1998-1999
Layton Convenience Center Layton, UT (5)		—	(5)		—		8		3,215			—			1,947			3,574		1,596		5,170		(444	)	2005
Layton Hills Plaza Layton, UT		—	(5)		—		2		1,029			—			1,243			826		1,448		2,274		(187	)	2005
Parkdale Corner Beaumont, TX		4,161			1,255		2,657		1			—			(896	)		1,305		1,712		3,017		(214	)	2002
Pearland Office Pearland, TX		—	(5)		—		7,849		2,443			—			(3,210	)		—		7,082		7,082		(1,317	)	2009
The Plaza at Fayette Lexington, KY		23,534			9,531		27,646		1,269			—			(28,520	)		2,527		7,399		9,926		(2,301	)	2006

Schedule III

CBL & ASSOCIATES PROPERTIES, INC.

REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

At December 31, 2023

(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	$	28,703		$	(706	)	$	(53,513	)	$	8,728	$	30,840	$	39,568	$	(6,167	)	2009
The Shoppes at Hamilton Place Chattanooga, TN		19,023			5,837		16,326		773			—			(10,827	)		5,061		7,048		12,109		(1,514	)	2003
The Shoppes at St. Clair Square Fairview Heights, IL		16,835			8,250		23,623		739			(5,044	)		(19,688	)		2,782		5,098		7,880		(674	)	2007
Sunrise Commons Brownsville, TX		8,665			1,013		7,525		2,024			—			(2,845	)		3,503		4,214		7,717		(578	)	2003
The Terrace Chattanooga, TN		17,651			4,166		9,929		11,072			—			(9,404	)		8,981		6,782		15,763		(793	)	1997
West Towne Crossing Madison, WI		20,273			1,784		2,955		7,715			—			4,227			5,830		10,851		16,681		(922	)	1998
WestGate Crossing Spartanburg, SC		7,741			1,082		3,422		7,886			—			(5,426	)		2,047		4,917		6,964		(716	)	1997
Westmoreland Crossing Greensburg, PA		—	(5)		2,898		21,167		9,320			—			(23,389	)		3,119		6,877		9,996		(3,915	)	2002
OUTPARCELS:															—							—
Outparcel properties		197,904			36,096		89,748		60,878			—			683			97,867		89,538		187,405		(10,769	)	Various
DISPOSITIONS:																						—
Westgate Mall Spartanburg, SC		—			2,149		23,257		43,429			(432	)		(68,403	)		—		—		—		—		1995
Alamance Crossing Burlington, NC		—			12,509		43,303		32,992			(3,962	)		(84,842	)		—		—		—		—		2007
Other		—			39,662		19,125		(10,155	)		(5,715	)		12,653			52,345		3,225		55,570		(410	)	Various
Developments in progress consisting of construction and development properties		—			—		—		8,900			—			—			—		8,900		8,900		—
TOTALS	$	1,144,052		$	729,554	$	3,951,910	$	838,280		$	(51,017	)	$	(3,658,582	)	$	585,191	$	1,224,954	$	1,810,145	$	(228,034	)

(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, 2023, excluding debt discounts, if applicable.

(3)

The aggregate cost of land and buildings and improvements for federal income tax purposes is approximately $6.408 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, 2023

(In thousands)

The changes in real estate assets and accumulated depreciation for the Successor years ended December 31, 2023 and 2022, the Successor period ended December 31, 2021 and the Predecessor period ended October 31, 2021 (in thousands):


	Successor									Predecessor
	As of December 31,									As of October 31,
	2023			2022			2021			2021
REAL ESTATE ASSETS:
Balance at beginning of period	$	1,800,888		$	1,789,055		$	1,797,332		$	5,859,113
Additions during the period:
Additions and improvements		42,267			37,080			5,599			31,278
Acquisitions of real estate assets		—			5,766			—			—
Deductions during the period:
Disposals, deconsolidations and accumulated depreciation on impairments		(33,010	)		(30,752	)		(13,876	)		(250,136	)
Fresh start accounting adjustments		—			—			—			(3,683,547	)
Transfers from real estate assets		—			(261	)		—			(11,209	)
Impairment of real estate assets		—			—			—			(148,167	)
Balance at end of period	$	1,810,145		$	1,800,888		$	1,789,055		$	1,797,332

ACCUMULATED DEPRECIATION:
Balance at beginning of period	$	136,901		$	19,937		$	—		$	2,241,421
Depreciation expense		104,153			123,695			20,543			152,973
Fresh start accounting adjustments		—			—			—			(2,252,275	)
Transfers from real estate assets		—			15			—			—
Accumulated depreciation on real estate assets sold, retired, deconsolidated or impaired		(13,020	)		(6,746	)		(606	)		(142,119	)
Balance at end of period	$	228,034		$	136,901		$	19,937		$	—