CBL & Associates Properties Inc. has closed on the sale of Lakeshore Mall in Sebring, Fla., to a private buyer for $14 million.

"We are pleased to advance our strategic objective of selling lower productivity malls with the disposition of Lakeshore Mall," said Stephen Lebovitz, CBL's president chief executive officer. "We are also achieving progress with our additional disposition efforts and look forward to making announcements over the coming months."