Powered by

Activist takes stake in struggling mall landlord CBL Properties

Aug 27, 2019 - SNL Real Estate Daily
Financial Results

Real estate activist Michael Ashner via Exeter Capital Investors LP and related entities took a 5.97% stake in troubled regional mall landlord CBL Properties, according to an Aug. 26 filing.

Exeter Capital, Ashner and related entities acquired 10,350,000 common shares of the real estate investment trust between June 24 and Aug. 23 at per-share prices ranging from 80 cents to $1.16.

In its filing, Exeter Capital cited as its rationale its belief that CBL shares were undervalued and "r...