CBL Properties Closes Land Sales in Maryland, North Carolina

MT newswire2026/09/30 20:58

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04:58 PM EDT, 09/30/2026 (MT Newswires) -- CBL Properties (CBL) said late Wednesday it completed land sales at Hartford Mall in Bel Air, Maryland, and Friendly Center in North Carolina to mixed-use developers. The 3.9-acre land parcel in Maryland was sold to Cohere Development for the development of a 249-unit residential complex, expected to break ground in the coming weeks with estimated completion in fall 2028, the company said. The 7-acre land sale in North Carolina to real estate investment manager Hines will be used to develop a 270-unit multifamily community, the company added. Gross proceeds from such transactions this year reached $30 million, according to a statement.

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