Chattanooga's CBL sees profit gain in quarter

Chattanooga's CBL sees profit gain in quarter

February 5th, 2013 by Staff Report in Local - Breaking News

CBL & Associates Properties Inc. Staff file photo.

Chattanooga-based shopping center developer CBL & Associates Properties Inc. reported today that funds from operations rose in the fourth quarter on higher occupancy and rents.

FFO per diluted share, as adjusted, increased in the quarter to 62 cents from 60 cents, the company reported.

Same-center net operating income, excluding lease termination fees, increased 2.2 percent in the fourth quarter, the company said.

"We continue to enjoy the benefits of our market-dominant mall portfolio, an expanding pipeline of new growth opportunities and an enhanced capital structure," said Stephen Lebovitz, CBL's president and chief executive officer, in a statement.

For full story, see Wednesday's Times Free Press.