CBL to sell majority ownership of Triangle Town Center in Raleigh

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.