-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OaiingADbWhLnCrKIKCXlbAzI/3lomzAozXSyxNsRF4Gl6LstBOKLoQH8r9IoJRB 01l2wIdCqQZnyGWcxUolyw== 0000899140-01-000032.txt : 20010123 0000899140-01-000032.hdr.sgml : 20010123 ACCESSION NUMBER: 0000899140-01-000032 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010119 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010119 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CBL & ASSOCIATES PROPERTIES INC CENTRAL INDEX KEY: 0000910612 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 621545718 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-12494 FILM NUMBER: 1511918 BUSINESS ADDRESS: STREET 1: ONE PARK PLACE STREET 2: 6148 LEE HWY SUITE 300 CITY: CHATTANOOGA STATE: TN ZIP: 37421 BUSINESS PHONE: 4238550001 MAIL ADDRESS: STREET 1: 61048 LEE HIGHWAY SUITE 300 STREET 2: ONE PARK PLACE CITY: CHATTANOOGA STATE: TN ZIP: 37421 8-K 1 0001.txt CURRENT REPORT ON FORM 8-K Securities and Exchange Commission Washington, D.C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) January 19, 2001 ---------------- CBL & Associates Properties, Inc. --------------------------------- (Exact name of registrant as specified in its charter) Delaware 1-12494 62-1545718 - -------- ------- ---------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) One Park Place, 6148 Lee Highway, Chattanooga, Tennessee 37421 -------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, including area code: (423) 855-0001 -------------- N/A ------------------------------- (Former name or former address, if changed since last report) Item 5. Other Events. On January 19, 2001, at a special meeting of shareholders, in connection with the acquisition of 21 malls and two associated centers from The Richard E. Jacobs Group, the Registrant's shareholders approved the issuance of up to 13.94 million special common units of the Registrant's Operating Partnership ("SCUs"), which SCUs may be exchanged for shares of the Registrant's common stock. At the meeting, the Registrant's shareholders also approved an amendment the share ownership limits under its certificate of incorporation to allow for Jacobs' increased ownership of shares of the Registrant. A copy of the Registrant's press release announcing the shareholders' approval of the above proposals is filed herewith as Exhibit 99.1 and is incorporated herein by reference. Item 7. Financial Statements and Exhibits. (c) Exhibits: The following exhibit is filed as part of this report: 99.1 Press Release of the Registrant, dated January 19, 2001. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CBL & ASSOCIATES PROPERTIES, INC. By: /s/ John N. Foy ------------------------------ John N. Foy Vice Chairman, Chief Financial Officer and Treasurer Dated: January 19, 2001 Exhibit Index ------------- Exhibit No. Description - ----------- ----------- 99.1 Press Release of the Registrant, dated January 19, 2001. EX-99.1 2 0002.txt PRESS RELEASE CBL Shareholders Approve Jacobs Purchase Page 1 January 19, 2001 Exhibit 99.1 Contact: John Foy Vice Chairman and CFO (423) 855-0001 CBL SHAREHOLDERS APPROVE JACOBS PURCHASE CHATTANOOGA, Tenn. (Jan. 19, 2001) - CBL & Associates Properties, Inc. (NYSE:CBL) announced that, at a special meeting of shareholders held earlier today, the Company's shareholders approved the acquisition of 21 malls and two associated centers from The Richard E. Jacobs Group for total consideration of approximately $1.3 billion. Upon closing of the transaction, CBL will become the largest owner of malls and shopping centers in the southeast and the third largest mall real estate investment trust in terms of GLA owned in the United States. The Company's portfolio will include 51 malls and 106 shopping centers in 26 states totaling 55.6 million square feet. In connection with the Jacobs transaction, the Company's shareholders approved the issuance of up to 13.94 million special common units (SCUs), which may be exchanged for shares of common stock on a one-for-one basis after a three-year lock-up period. The Jacobs transaction was contingent upon approval of the issuance of the SCUs. A separate proposal to amend the share ownership limits under the Company's current certificate of incorporation, to allow for Jacobs' increased ownership of shares in the Company, was also approved. Commenting on the announcement, Charles B. Lebovitz, chairman and chief executive officer, stated, "This is an extraordinary event in the history of our company. We have worked tirelessly over the last several months to ensure that the integration of these properties will be as seamless as possible from day one. This acquisition provides tremendous opportunities to apply the proven redevelopment, management and leasing expertise of our experienced team to maximize the internal growth from these properties and accelerate our FFO and dividend growth over the next several years." CBL expects the transaction to close on or about January 31, 2001. The closing may be delayed with respect to all or a portion of the properties to the extent necessary to obtain lender and partner consents. -MORE- CBL Shareholders Approve Jacobs Purchase Page 2 January 19, 2001 CBL & Associates Properties, Inc. is a real estate investment trust that owns regional malls and community shopping centers, primarily in the Southeast and select markets in the Northeast and Midwest. The Company currently has a portfolio of 134 properties in 25 states totaling 36.4 million square feet, including 1.8 million square feet of non-owned shopping centers managed for third parties. The Company has under construction five new projects totaling approximately 1.9 million square feet, including two malls, one community center and two mall expansions. In addition to its headquarters in Chattanooga, TN, CBL has a regional office in Boston (Waltham), MA. The Company can be found on the Internet at www.cblproperties.com. Information included herein contains "forward-looking statements" within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company's various filings with the Securities and Exchange Commission, including without limitation the Company's Annual Report on Form 10-K and the "Management's Discussion and Analysis of Financial Condition and Results of Operations" incorporated by reference therein, and the Company's current report on Form 8-K being filed in connections with the transaction described herein, for a discussion of such risks and uncertainties. -MORE- CBL Shareholders Approve Jacobs Purchase Page 3 January 19, 2001 The shopping centers acquired from the Jacobs portfolio are:
- ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Mall (Market) Total GLA Mall Store Anchors Percentage to GLA be Acquired - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Illinois Cherryvale Mall (Rockford) 714,000 300,000 Bergner's, Marshall Field, Sears 84% - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Kentucky Fayette Mall (Lexington) 1,096,000 298,000 Dillard's, JC Penney, Lazarus, 100 Sears - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Jefferson Mall (Louisville) 936,000 275,000 Dillard's, JC Penney, Lazarus, 87(1) Sears - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Kentucky Oaks (Paducah) 878,000 298,000 Dillard's(2), Elder-Beerman, 40(2) JC Penney, Sears, ShopKo - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Michigan Midland Mall (Midland) 514,000 196,000 Elder-Beerman, JC Penney, 40(1) Sears, Target - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Fashion Square Mall (Saginaw) 786,000 287,000 Hudson's, JC Penney, Sears 100 - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- North Carolina Randolph Mall (Asheboro) 376,000 147,000 Belk, JC Penney, Sears 100 - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Cary Towne Center (Cary) 953,000 294,000 Hudson Belk, Dillard's, Hecht's, 80 JC Penney, Sears - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Hanes Mall (Winston-Salem) 1,556,000 548,000 Belk, Dillard's, Hecht's, 100 JC Penney, Sears - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Ohio Eastgate Mall (Cincinnati) 905,000 268,000 Dillard's, JC Penney, Kohl's, 54(1) Sears - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Eastgate Crossing (Cincinnati) 194,000 Border's, Circuit City, Kids 'R 54(1) Us, Kroger - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Towne Mall (Franklin) 521,000 152,000 Dillard's, Elder-Beerman, Sears 100 - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- South Carolina Citadel Mall (Charleston) 1,068,000 294,000 Belk, Dillard's, JC Penney, 100 Parisian, Sears - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Columbia Mall (Columbia) 1,113,000 297,000 Dillard's, JC Penney, Rich's, 79(1) Sears - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Northwoods Mall (North Charleston) 833,000 312,000 Belk, Dillard's, JC Penney, Sears 100 - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Tennessee Old Hickory Mall (Jackson) 555,000 159,000 Belk, Goldsmith's, JC Penney, 100 Sears - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Texas Parkdale Mall (Beaumont) 1,411,000 462,000 Dillard's (2), JC Penney, 100 Montgomery Ward, Sears - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Wisconsin East Towne Mall (Madison) 895,000 295,000 Boston Store, JC Penney, Sears, 65(1) Younkers - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- West Towne Mall (Madison) 1,021,000 260,000 Boston Store, JC Penney, Sears, 65(1) Younkers - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- West Towne Crossing (Madison) 447,000 Barnes & Noble, Best Buy, Cub 65(1) Foods, Ganders Mountain, Kohl's, Office Max, ShopKo - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Brookfield Square Mall (Milwaukee) 1,041,000 316,000 Boston Store, JC Penney, Sears 100 - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Regency Mall (Racine) 918,000 268,000 Boston Store, JC Penney, Sears, 100 Younkers - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- Wausau Center (Wausau) 429,000 156,000 JC Penney, Sears, Younkers 100 - ------------------------------------------ ------------ ------------- ----------------------------------- ---------------- (1) CBL will potentially acquire additional interests through an offer to purchase outside partner interests (2) Managed by a third party
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