CBL and Horizon Group Break Ground on Phase II of The Outlet Shoppes of the Bluegrass

CBL & Associates Properties, Inc. (NYSE: CBL) and Horizon Group Properties, Inc. (OTC: HGPI) announced today that construction has begun on the second phase of The Outlet Shoppes of the Bluegrass, near Louisville, KY. The 53,400-square-foot expansion is scheduled to open this November and will bring eight more popular retailers to the center including H&M, Abercrombie & Fitch, The Limited Outlet, and Johnny Rockets. The outlet shopping center, located off Interstate 64 between Louisville and Lexington, opened July 31, 2014. Phase II will be located at the north side of the center and will have excellent visibility from I-64.

“The Outlet Shoppes of the Bluegrass has been successful since its opening last July due to the collection of retailers and the ideal location,” said Michael Lebovitz, executive vice president – development and administration for CBL. “This expansion allows us to add even more great retailers to the mix.”

“The expansion of The Outlet Shoppes of the Bluegrass less than nine months after its original opening speaks volumes about the strength of the market and success of the outlet concept in Kentucky,” said Gary J. Skoien, chief executive officer of Horizon Group Properties.

Completion of phase II is scheduled prior to the 2015 holiday season.

About The Outlet Shoppes of the Bluegrass

The Outlet Shoppes of the Bluegrass is Kentucky’s only Outlet Center and the regions premier shopping experience for factory store retail. It features over 90 famous name brand stores including Nike, Coach, Tumi, Michael Kors, Gucci, Saks Fifth Avenue OFF 5TH, GAP, Oakley, Carter’s, Oshkosh, Kate Spade and many more. The Outlet Shoppes of the Bluegrass is located at I-64 at exit 28.

The Outlet Shoppes of the Bluegrass is a joint venture of CBL & Associates Properties, Inc. and Horizon Group Properties, Inc. Horizon and CBL are co-developers of the project; Horizon is responsible for leasing and managing the center.

About Horizon Group Properties, Inc.

Based in Norton Shores, Michigan, with executive offices in Rosemont, Illinois, Horizon Group Properties, Inc. is an owner and developer of factory outlet shopping centers and is the developer of a master planned community in suburban Chicago. For more information, please visit www.horizongroup.com.

About CBL & Associates Properties, Inc.

CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interests in or manages 148 properties, including 89 regional malls/open-air centers. The properties are located in 30 states and total 84.2 million square feet including 6.5 million square feet of non-owned shopping centers managed for third parties. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, Dallas (Irving), TX, and St. Louis, MO. Additional information can be found at cblproperties.com.

CBL & Associates Properties, Inc.Dan Summerlin, 423-490-8315Director of Corporate [e-mail] Group Properties, Inc.Gina Slechta, SCMD, 402-991-0875Vice President of [e-mail]