Hamilton Place mall in Chattanooga is owned by CBL.
Staff File PhotoCBL & Associates Properties Inc. on Wednesday acquired its 90th regional mall or open-air center with the purchase of Dakota Square Mall in Minot, N.D.
The purchase price was $91.4 million, including assumption of a $59 million loan, the Chattanooga-based shopping center company said in a press release.
CBL Chief Executive Officer Stephen Lebovitz said the 622,000-square-foot mall is a textbook example of its dominant mall strategy.
“The center holds an unrivaled franchise position within a growing and economically diverse regional market,” he said in a statement.
Katie Reinsmidt, CBL’s vice president corporate communications and investor relations, said the mall had a 94 percent occupancy rate as of March 31.