CBL to sell majority ownership of Triangle Town Center in Raleigh
Posted February 3, 2015
Raleigh, N.C. — The owners of Triangle Town Center and the Triangle Town Place shopping center in north Raleigh reached an agreement to sell majority ownership of the property.
CBL and its 50/50 joint venture partner, The R.E. Jacobs Group, executed a contract to sell the property to a new partnership between CBL and an institutional investor. The new investor will own 85 percent of the assets and CBL will retain 15 percent.
The deal for $181 million is expected to close later this year.