<SEC-DOCUMENT>0001062993-24-014146.txt : 20240729
<SEC-HEADER>0001062993-24-014146.hdr.sgml : 20240729
<ACCEPTANCE-DATETIME>20240729193501
ACCESSION NUMBER:		0001062993-24-014146
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20240725
FILED AS OF DATE:		20240729
DATE AS OF CHANGE:		20240729

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SVP Excelsior Management LLC
		CENTRAL INDEX KEY:			0001919729
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12494
		FILM NUMBER:		241154051

	BUSINESS ADDRESS:	
		STREET 1:		100 WEST PUTNAM AVENUE
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830
		BUSINESS PHONE:		203-618-3500

	MAIL ADDRESS:	
		STREET 1:		100 WEST PUTNAM AVENUE
		CITY:			GREENWICH
		STATE:			CT
		ZIP:			06830

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CBL & ASSOCIATES PROPERTIES INC
		CENTRAL INDEX KEY:			0000910612
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		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>4
<SEQUENCE>1
<FILENAME>form4.xml
<DESCRIPTION>STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
<TEXT>
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        <issuerName>CBL &amp; ASSOCIATES PROPERTIES INC</issuerName>
        <issuerTradingSymbol>CBL</issuerTradingSymbol>
    </issuer>

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            <rptOwnerName>SVP Excelsior Management LLC</rptOwnerName>
        </reportingOwnerId>
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            <rptOwnerStreet1>100 WEST PUTNAM AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>GREENWICH</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06830</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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                    <value>See footnotes</value>
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                <natureOfOwnership>
                    <value>See footnotes</value>
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                    <footnoteId id="F11"/>
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                <transactionPricePerShare>
                    <value>25.8456</value>
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                <transactionAcquiredDisposedCode>
                    <value>D</value>
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                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
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                    <footnoteId id="F11"/>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
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            <transactionDate>
                <value>2024-07-25</value>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
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                    <value>4564</value>
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                <transactionPricePerShare>
                    <value>25.8456</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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                    <value>740061</value>
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                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
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                    <footnoteId id="F11"/>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
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                <transactionPricePerShare>
                    <value>25.8456</value>
                </transactionPricePerShare>
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                    <value>D</value>
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                    <value>484481</value>
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            </postTransactionAmounts>
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                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                    <footnoteId id="F6"/>
                    <footnoteId id="F11"/>
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        <nonDerivativeTransaction>
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            </transactionDate>
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                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                <transactionShares>
                    <value>5167</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>25.8456</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                    <footnoteId id="F7"/>
                    <footnoteId id="F11"/>
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        </nonDerivativeTransaction>
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                    <value>782</value>
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                    <value>25.8456</value>
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                    <value>D</value>
                </transactionAcquiredDisposedCode>
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                    <value>126835</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
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                    <footnoteId id="F11"/>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
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                <value>Common Stock</value>
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                <value>2024-07-25</value>
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                <transactionCode>S</transactionCode>
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                    <value>782</value>
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                    <value>126878</value>
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                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
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                    <value>See footnotes</value>
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                    <footnoteId id="F11"/>
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    <footnotes>
        <footnote id="F1">Held directly by Strategic Value Capital Solutions Offshore Fund, L.P. SVP Capital Solutions LLC (f/k/a SVP Dislocation LLC) is the investment manager of Strategic Value Capital Solutions Offshore Fund, L.P.</footnote>
        <footnote id="F2">Held directly by Strategic Value Capital Solutions Fund, L.P. SVP Capital Solutions LLC is the investment manager of Strategic Value Capital Solutions Fund, L.P.</footnote>
        <footnote id="F3">Held directly by Strategic Value Sullivan Offshore Fund, L.P. (Series 1). SVP Capital Solutions LLC (f/k/a SVP Dislocation LLC) is the investment manager of Strategic Value Sullivan Offshore Fund, L.P. (Series 1).</footnote>
        <footnote id="F4">Held directly by Strategic Value Special Situations Fund IV, L.P. SVP Special Situations IV LLC is the investment manager of Strategic Value Special Situations Fund IV, L.P.</footnote>
        <footnote id="F5">Held directly by Strategic Value Special Situations Offshore Fund IV, L.P. SVP Special Situations IV LLC is the investment manager of Strategic Value Special Situations Offshore Fund IV, L.P.</footnote>
        <footnote id="F6">Held directly by Strategic Value Special Situations Fund V, L.P. SVP Special Situations V LLC is the investment manager of Strategic Value Special Situations Fund V, L.P.</footnote>
        <footnote id="F7">Held directly by Strategic Value Special Situations Offshore Fund V, L.P. SVP Special Situations V LLC is the investment manager of Strategic Value Special Situations Offshore Fund V, L.P.</footnote>
        <footnote id="F8">Held directly by Strategic Value Sullivan Offshore Fund, L.P. (Series 2). SVP Special Situations V LLC is the investment manager of Strategic Value Sullivan Offshore Fund, L.P. (Series 2).</footnote>
        <footnote id="F9">Held directly by Strategic Value Excelsior Fund, L.P. SVP Excelsior Management, LLC is the investment manager of Strategic Value Excelsior Fund, L.P.</footnote>
        <footnote id="F10">Held directly by Strategic Value Opportunities Fund, L.P. SVP Special Situations III-A LLC is the investment manager of Strategic Value Opportunities Fund, L.P.</footnote>
        <footnote id="F11">Strategic Value Partners, LLC, which is indirectly controlled by Victor Khosla, is the managing member of SVP Capital Solutions LLC, SVP Special Situations III-A, LLC, SVP Special Situations IV LLC, SVP Special Situations V LLC, and SVP Excelsior Management LLC (the &quot;Investment Managers&quot;). The reported shares are held by funds managed directly or indirectly by the Investment Managers. The filing of this Form 4 shall not be construed as an admission that the Reporting Persons are or were for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owners of any of the securities reported herein. The Reporting Persons disclaim such beneficial ownership, except to the extent of their pecuniary interest.</footnote>
    </footnotes>

    <remarks>This Form 4 is one of two reports relating to the same transactions being filed jointly by Strategic Value Partners, LLC, Victor Khosla, Strategic Value Capital Solutions Master Fund, L.P., Strategic Value Special Situations Master Fund IV, L.P., Strategic Value Opportunities Fund, L.P., Strategic Value Special Situations Master Fund V, L.P., SVP Capital Solutions LLC, LLC, SVP Special Situations III-A, LLC, SVP Special Situations IV LLC, SVP Special Situations V LLC and SVP Excelsior Management LLC.</remarks>

    <ownerSignature>
        <signatureName>/s/ Lewis Schwartz - for SVP Excelsior Management LLC, By: Lewis Schwartz, Chief Financial Officer</signatureName>
        <signatureDate>2024-07-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</DOCUMENT>
</SEC-DOCUMENT>
