TIAA-CREF and CBL close $1.09-billion JV

Chattanooga, Tenn. -- TIAA-CREF and CBL & Associates Properties have announced the closing of their $1.09 billion real estate joint venture to invest in market-dominant shopping malls.

TIAA-CREF has completed its investment in four of CBL’s market-dominant shopping malls: Oak Park Mall in Kansas City, Kan.; West County Center in St. Louis; CoolSprings Galleria in Nashville; and Pearland Town Center in Pearland, Texas.

“TIAA-CREF’s investment strengthens our balance sheet and partners us with a well-capitalized institution to pursue new opportunities,” said Stephen Lebovitz, CBL’s president and CEO.

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