cbl & associates properties (CBL) Snapshot

CBL & Associates Properties Inc. announced that its Board of Directors has declared a quarterly cash dividend for the company's Common Stock of $0.23 per share for the quarter ending June 30, 2013. The dividend is payable on July 16, 2013, to shareholders of record as of July 1, 2013. The Board also declared a quarterly cash dividend of $0.4609375 per depositary share for the quarter ending June 30, 2013, for the company's 7.375% Series D Cumulative Redeemable Preferred Stock. The dividend, which equates to an annual dividend payment of $1.84375 per depositary share, is payable on July 1, 2013, to shareholders of record as of June 14, 2013. The Board also declared a quarterly cash dividend of $0.4140625 per depositary share for the quarter ending June 30, 2013, for the company's 6.625% Series E Cumulative Redeemable Preferred Stock. The dividend, which equates to an annual dividend payment of $1.65625 per depositary share, is payable on July 1, 2013, to shareholders of record as of June 14, 2013.

Horizon Group Properties Inc. and CBL & Associates Properties Inc. announced that it had formed a joint venture to develop The Outlet Shoppes at Louisville in Simpsonville, Kentucky. Located on the heavily traveled Interstate 64, the 370,000-square-foot project will be the premier outlet destination for residents of Louisville, Lexington, Frankfort and the surrounding area. It will be the only outlet center located in the State of Kentucky. In addition to serving those communities, The Outlet Shoppes at Louisville will provide tourists and conventioneers with a reason to shop in the state. Horizon and CBL are co-developing the project with Horizon responsible for leasing and management. The Outlet Shoppes at Louisville is currently more than 75% leased or committed with must-have outlet retailers such as Coach, Banana Republic, Brooks Brothers, Chicos, Nike, Saks Fifth Avenue OFF 5TH and more.

Horizon Group Properties Inc. and CBL & Associates Properties Inc. announced the names of 38 additional stores planned to join The Outlet Shoppes at Atlanta. The list of store now totals 89 with more to be announced soon. The center will feature the best-known brands and designer outlets, including Nike, Saks Fifth Avenue OFF 5TH, Bose, Brooks Brothers, Columbia Sportswear, True Religion, Cole Haan, White House|Black Market, Guess, Fossil, Michael Kors, Under Armour, and Talbots. The center is scheduled to open to the public on July 18, 2013 with a private preview event to benefit Elm Street Cultural Arts Center on July 17th. The center is located north of Atlanta at the newly-constructed exit off I-575 at Ridgewalk Parkway in Woodstock. More than 112,000 cars pass the site daily. The center is convenient to travelers on Interstates 75, 85 and 20 and is expected to draw over four million visitors annually from a three-state area. Designed in a shopper-friendly configuration, the center will feature covered walkways and landscaped courtyards to maximize the comfort and convenience of shoppers. Its design blends traditional architecture with lively features including a children's play area. A center court complete with fountains and a fireplace will create a festive atmosphere for shoppers and visitors to the center. The site can accommodate an additional 30,000 square feet of outlet shops and also features seven parcels for restaurants, service businesses and other retail uses.