CBL Properties Closes $78.5 Million Sale of Hammock Landing in West Melbourne, FL
CBL Properties closed the sale of Hammock Landing, a 397,000-square-foot open-air center in West Melbourne, FL, for $78.5 million. The transaction included the assumption of a $43.8 million loan, resulting in approximately $26 million in net cash proceeds for CBL.
Key figures
- Cap rate
- 8%
- Sale price
- 78500000
- Assumed loan
- 43800000
- Cash proceeds
- 26000000
- Property sqft
- 397000
AI analysis
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