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Schedule III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2024

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, 2024

(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
OPERATING PROPERTIES
840 Greenbrier Circle Chesapeake, VA	$	—		$	2,096	$	3,091	$	2,127		$	—		$	(1,626	)	$	1,387	$	4,301	$	5,688	$	(657	)	2007
Alamance Crossing West Burlington, NC		18,233			8,344		19,549		240			(3,962	)		(11,969	)		6,242		5,960		12,202		(1,366	)	2007
Arbor Place Atlanta (Douglasville), GA		89,711			8,508		95,088		29,201			—			(89,396	)		3,050		40,351		43,401		(9,469	)	1998-1999
Brookfield Square Brookfield, WI		—			8,996		78,533		99,969			(5,208	)		(146,235	)		10,284		25,771		36,055		(9,394	)	2001
CBL Center Chattanooga, TN		—			1,332		24,675		2,816			—			(17,030	)		3,081		8,712		11,793		(1,740	)	2001
CBL Center II Chattanooga, TN		—			22		13,648		1,823			—			(9,880	)		965		4,648		5,613		(631	)	2008
CherryVale Mall Rockford, IL		—	(5)		11,892		64,117		56,299			(1,667	)		(113,543	)		5,360		11,738		17,098		(4,955	)	2001
CoolSprings Crossing Nashville, TN		17,447			2,803		14,985		(2,802	)		—			(10,291	)		2,969		1,726		4,695		(660	)	1991-1993
Coolsprings Galleria Nashville, TN		137,193			21,333		133,501		—			—			—			21,333		133,501		154,834		(177	)	2024
Courtyard at Hickory Hollow Nashville, TN		4,515			3,314		2,771		482			(231	)		(1,181	)		1,844		3,311		5,155		(609	)	1998
Cross Creek Mall Fayetteville, NC		85,719			19,155		104,378		33,989			—			(49,534	)		4,372		103,616		107,988		(20,425	)	2003
Dakota Square Mall Minot, ND		—			4,552		87,625		27,902			—			(96,630	)		5,179		18,270		23,449		(4,159	)	2012
East Towne Mall Madison, WI		—	(5)		4,496		63,867		64,228			(909	)		(123,012	)		4,413		4,257		8,670		(2,872	)	2002
Eastland Mall Bloomington, IL		—			5,746		75,893		(71,130	)		(753	)		(5,600	)		1,921		2,235		4,156		(840	)	2005
Fayette Mall Lexington, KY		110,680			25,205		84,256		112,307			—			(87,361	)		11,203		123,204		134,407		(19,082	)	2001
Frontier Mall Cheyenne, WY		—	(5)		2,681		15,858		21,959			(83	)		(31,588	)		3,715		5,112		8,827		(1,844	)	1984-1985
Frontier Square Cheyenne, WY		2,882			346		684		1,056			(86	)		612			904		1,708		2,612		(304	)	1985
Gunbarrel Pointe Chattanooga, TN		16,468			4,170		10,874		4,994			—			(5,974	)		8,099		5,965		14,064		(1,066	)	2000
Hamilton Corner Chattanooga, TN		16,638			630		5,532		8,646			—			(2,368	)		4,981		7,459		12,440		(1,245	)	1986-1987

Schedule III

CBL & ASSOCIATES PROPERTIES, INC.

REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

At December 31, 2024

(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
Hamilton Crossing Chattanooga, TN	$	11,688		$	4,014	$	5,906	$	7,412		$	(1,370	)	$	(5,550	)	$	5,300	$	5,112	$	10,412	$	(1,014	)	1987
Hamilton Place Chattanooga, TN		89,197			3,532		42,619		55,588			(2,933	)		(35,984	)		9,091		53,731		62,822		(11,213	)	1986-1987
Hanes Mall Winston-Salem, NC		—	(5)		17,176		133,376		51,375			(1,767	)		(147,963	)		13,968		38,229		52,197		(8,247	)	2001
Harford Annex Bel Air, MD		13,069			3,117		9,718		1,312			—			(2,430	)		3,117		8,600		11,717		(1,217	)	2003
Harford Mall Bel Air, MD		—			8,699		45,704		17,929			—			(65,736	)		4,582		2,014		6,596		(898	)	2003
Jefferson Mall Louisville, KY		51,323			13,125		40,234		28,371			(521	)		(70,099	)		4,625		6,485		11,110		(2,793	)	2001
Kirkwood Mall Bismarck, ND		—	(5)		3,368		118,945		43,131			(2,394	)		(126,278	)		8,114		28,658		36,772		(5,683	)	2012
The Landing at Arbor Place Atlanta (Douglasville), GA		5,720			7,238		14,330		3,193			(2,242	)		(18,627	)		1,587		2,305		3,892		(841	)	1998-1999
Laurel Park Place Livonia, MI		—			13,289		92,579		(98,075	)		—			(3,630	)		751		3,412		4,163		(1,361	)	2005
Mall del Norte Laredo, TX		—	(5)		21,734		142,049		58,779			(149	)		(148,232	)		13,875		60,306		74,181		(12,369	)	2004
Mayfaire Town Center Wilmington, NC		—	(5)		26,333		101,087		27,138			—			(107,804	)		7,165		39,589		46,754		(9,215	)	2015
Meridian Mall Lansing, MI		—			2,797		103,678		64,173			—			(150,764	)		8,573		11,311		19,884		(4,099	)	1998
Mid Rivers Mall St. Peters, MO		—			16,384		170,582		(134,754	)		(4,174	)		(27,787	)		9,191		11,060		20,251		(4,059	)	2007
Northgate Mall Chattanooga, TN		—	(5)		2,330		8,960		24,505			(492	)		(23,815	)		3,413		8,075		11,488		(1,866	)	2011
Northpark Mall Joplin, MO		—			9,977		65,481		39,470			—			(99,164	)		7,084		8,680		15,764		(3,469	)	2004
Northwoods Mall North Charleston, SC		50,745			14,867		49,647		32,216			(2,339	)		(52,958	)		9,402		32,031		41,433		(8,570	)	2001
Oak Park Mall Overland Park, KS		251,448			28,207		100,879		—			—			—			28,207		100,879		129,086		—		2024
Old Hickory Mall Jackson, TN		—			15,527		29,413		(32,541	)		(362	)		(9,431	)		800		1,806		2,606		(930	)	2001
The Outlet Shoppes at Gettysburg Gettysburg, PA		19,877			20,779		22,180		(27,240	)		(2,394	)		(47	)		7,822		5,456		13,278		(2,112	)	2012
The Outlet Shoppes at Laredo Laredo, TX		32,580			11,000		97,353		(62,797	)		(2,394	)		(26,318	)		3,741		13,103		16,844		(2,162	)	2017
Parkdale Corner Beaumont, TX		4,113			1,255		2,657		1			—			(896	)		1,305		1,712		3,017		(311	)	2002
Parkdale Mall and Crossing Beaumont, TX		53,471			22,060		29,842		(4,741	)		(874	)		(21,766	)		11,364		13,157		24,521		(4,819	)	2001
Parkway Place Huntsville, AL		—			6,364		67,067		10,503			—			(43,144	)		10,067		30,723		40,790		(6,452	)	2010

Schedule III

CBL & ASSOCIATES PROPERTIES, INC.

REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

At December 31, 2024

(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
Pearland Office Pearland, TX	$	—	(5)	$	—	$	7,849	$	2,472		$	—		$	(3,210	)	$	—	$	7,111	$	7,111	$	(1,811	)	2009
Pearland Town Center Pearland, TX		—	(5)		16,300		108,615		25,674			(857	)		(106,531	)		16,896		26,305		43,201		(6,532	)	2008
The Plaza at Fayette Lexington, KY		23,263			9,531		27,646		1,340			—			(28,520	)		2,527		7,470		9,997		(3,304	)	2006
Post Oak Mall College Station, TX		—	(5)		3,936		48,948		17,395			(327	)		(52,738	)		6,028		11,186		17,214		(3,151	)	1984-1985
The Promenade D'lberville D'lberville, MS		—			16,278		48,806		28,221			(706	)		(53,513	)		8,728		30,358		39,086		(8,693	)	2009
Richland Mall Waco, TX		—	(5)		9,874		34,793		25,256			(1,225	)		(44,167	)		8,793		15,738		24,531		(4,175	)	2002
The Shoppes at Hamilton Place Chattanooga, TN		19,023			5,837		16,326		1,501			—			(10,827	)		5,062		7,775		12,837		(1,920	)	2003
The Shoppes at St. Clair Square Fairview Heights, IL		16,641			8,250		23,623		739			(5,044	)		(19,688	)		2,783		5,097		7,880		(912	)	2007
South County Center St. Louis, MO		—			15,754		159,249		2,824			—			(160,681	)		11,165		5,981		17,146		(3,252	)	2007
Southaven Towne Center Southaven, MS		—	(5)		14,315		29,380		2,461			—			(27,929	)		10,163		8,064		18,227		(1,741	)	2005
Southpark Mall Colonial Heights, VA		49,634			9,501		73,262		32,365			—			(102,613	)		4,193		8,322		12,515		(1,931	)	2003
St. Clair Square Fairview Heights, IL		—			11,027		75,620		36,179			—			(82,113	)		8,150		32,563		40,713		(7,307	)	1996
Stroud Mall Stroudsburg, PA		—			14,711		23,936		(24,208	)		—			(5,698	)		2,942		5,799		8,741		(2,186	)	1998
Sunrise Commons Brownsville, TX		8,565			1,013		7,525		2,123			—			(2,845	)		3,504		4,312		7,816		(806	)	2003
Sunrise Mall Brownsville, TX		—	(5)		11,156		59,047		16,287			—			(45,064	)		14,999		26,427		41,426		(10,038	)	2003
The Terrace Chattanooga, TN		17,651			4,166		9,929		11,281			—			(9,404	)		8,982		6,990		15,972		(1,350	)	1997
Turtle Creek Mall Hattiesburg, MS		—	(5)		2,345		26,418		18,738			—			(26,937	)		3,977		16,587		20,564		(5,300	)	1993-1995
Valley View Mall Roanoke, VA		—	(5)		15,985		77,771		23,403			—			(89,309	)		9,499		18,351		27,850		(4,698	)	2003
Volusia Mall Daytona Beach, FL		35,033			2,526		120,242		22,065			(222	)		(128,334	)		10,856		5,421		16,277		(2,499	)	2004
West County Center Des Peres, MO		144,736			11,634		96,736		—			—			—			11,634		96,736		108,370		—		2024
West Towne Crossing Madison, WI		20,039			1,784		2,955		7,777			—			4,227			5,831		10,912		16,743		(1,388	)	1998

Schedule III

CBL & ASSOCIATES PROPERTIES, INC.

REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION

At December 31, 2024

(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
West Towne Mall Madison, WI		—	(5)		8,912		83,084		49,701			—			(84,533	)		14,623		42,541		57,164		(10,070	)	2002
WestGate Crossing Spartanburg, SC	$	7,651		$	1,082	$	3,422	$	7,886		$	—		$	(5,426	)	$	2,047	$	4,917	$	6,964	$	(1,011	)	1997
Westmoreland Crossing Greensburg, PA		—	(5)		2,898		21,167		9,415			—			(23,389	)		3,119		6,972		10,091		(4,993	)	2002
Westmoreland Mall Greensburg, PA		—	(5)		4,621		84,215		35,436			(1,240	)		(107,620	)		6,389		9,023		15,412		(4,549	)	2002
York Galleria York, PA		—			5,757		63,316		23,421			—			(84,499	)		1,767		6,228		7,995		(2,993	)	1995
OUTPARCELS:															—							—
Outparcel properties		176,588			75,758		108,873		13,244			(2,394	)		13,336			129,050		79,767		208,817		(11,980	)	Various
Developments in progress consisting of construction and development properties		—			—		—		5,817			—			—			—		5,817		5,817		—		Various
TOTAL OPERATING PROPERTIES	$	1,601,541		$	693,744	$	3,835,964	$	897,867		$	(49,319	)	$	(3,279,054	)	$	588,153	$	1,511,049	$	2,099,202	$	(283,785	)

Held-for-sale
Annex at Monroeville Pittsburgh, PA		—			—		29,496		671			—			(25,862	)		1,454		2,851		4,305		(1,555	)	2004
Imperial Valley Mall El Centro, CA		—	(5)		35,378		71,753		11,211			(2,394	)		(92,019	)		9,966		13,963		23,929		(4,439	)	2012
Monroeville Mall Pittsburgh, PA		4,868			22,911		177,214		(131,953	)		—			(36,624	)		13,793		17,755		31,548		(6,855	)	2004
Total held-for-sale	$	4,868		$	58,289	$	278,463	$	(120,071	)	$	(2,394	)	$	(154,505	)	$	25,213	$	34,569	$	59,782	$	(12,849	)
DISPOSITIONS:
Layton Hills Mall Layton, UT		—			20,464		99,836		(13,270	)		(32,062	)		(74,968	)		—		—		—		—		2005
Layton Convenience Center Layton, UT		—			—		8		3,301			(5,256	)		1,947			—		—		—		—		2005
Layton Hills Plaza Layton, UT		—			—		2		1,115			(2,360	)		1,243			—		—		—		—		2005
Total Dispositions	$	-		$	20,464	$	99,846	$	(8,854	)	$	(39,678	)	$	(71,778	)	$	-	$	-	$	-	$	-

(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, 2024, excluding debt discounts, if applicable.

(3)

The aggregate cost of land and buildings and improvements for federal income tax purposes is approximately $7.252 billion.

(4)

Depreciation for all properties is computed over the useful life which is generally 30 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, 2024

(In thousands)

The changes in real estate assets and accumulated depreciation for the years ended December 31, 2024, 2023 and 2022 (in thousands):


	As of December 31,
	2024			2023			2022
REAL ESTATE ASSETS:
Balance at beginning of period	$	1,810,145		$	1,800,888		$	1,789,055
Additions during the period:
Additions and improvements		43,514			42,267			37,080
Acquisitions of real estate assets		387,110			—			5,766
Deductions during the period:
Disposals, deconsolidations and accumulated depreciation on impairments		(81,590	)		(33,010	)		(30,752	)
Transfers from real estate assets		(59,977	)		—			(261	)
Balance at end of period	$	2,099,202		$	1,810,145		$	1,800,888

ACCUMULATED DEPRECIATION:
Balance at beginning of period	$	228,034		$	136,901		$	19,937
Depreciation expense		87,063			104,153			123,695
Transfers from real estate assets		(12,780	)		—			15
Accumulated depreciation on real estate assets sold, retired, deconsolidated or impaired		(18,532	)		(13,020	)		(6,746	)
Balance at end of period	$	283,785		$	228,034		$	136,901