Situation
CBL & Associates Properties, Inc. sought to acquire Mayfaire Town Center and Community Center, a premier open-air shopping center in the affluent coastal market of Wilmington, North Carolina. Our team provided significant transactional and land use work associated with the purchase.
Result
The transaction closed, making it one of the largest ever deals for CBL at $192 million cash purchase. The Center now generates more than $200 million in annual sales, placing it in the Tier 1 asset pool of CBL's REIT.