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CBL Expands Presence in Brazil

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CBL & Associates Properties is entering Brazil.

CBL & Associates Properties Inc. today announced it has agreed to partner with a Brazilian company to develop shopping center projects in that South American country.

Chattanooga-based CBL will partner with Tenco Realty in the development and acquisition of shopping center properties in Brazil.

CBL will initially invest $15.3 million to acquire a 60 percent interest in a new retail development in MacaƩ, Brazil.

The 220,000-square-foot project, Plaza MacaƩ, is currently under construction with a grand opening scheduled for summer 2008.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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