Katie, everyone. morning, good Thank and you,
is we stock and that long-term us Even that trading persistence given experienced the CBL are team. market price closings we success. new diminished steadfast stability our not our the few business CBL track the determination year. As results feat, bankruptcies of a no lows, assure quarter we achieve will credit put to year the is and of small though the for the first of and passion the is the and on in completed efforts to has our announced yesterday, and months range This at we to the in with our wave achieve guidance store for first
on redevelopment leverage. enhancing focused are we our preserving foremost, and to reduce and fund liquidity and First program
call, while in XXXX While we tout million cash and This which guidance that this to estimated flow $XXX repeat income we on is the preferred find of generate free lowering free redevelopments will metric and over reduction, generating common our in leverage. at source midpoint flow us allows after it's cash primary lost debt to income dividend. to important replace every
structures. ground minimizes light our or joint executing which venture are in leases capital required We pad investment through the sales, strategy, redevelopment
where uses equity our our replacements than We dozen anchor cash under there are remain and our that attractive have prices bond more our for for is numerous buyback. in extremely $X capital structure a across creative We pipeline, required million. investment realize and
fund liquidity maintaining should is other priority. our that priority remain to we maximum major However, business on liquidity with our Hand-in-hand believe redevelopment to our and revenue. operate stabilize this strategic focus
We are generating our releasing incremental program. from goal anchor replacement and achieving income through this
back to a from uses expanding as our entertainment to of retailers, demand and seeing are range We well restaurants, as broad locations. uses non-retail
As between XX we and mentioned we roughly Sears, last Bon-Ton had quarter, anchors close.
traffic properties will tremendous stabilize earnings newer the portfolio making our The drive for release two and in long and are replacements, anchor in our We listed of transformation as dynamic uses the dozen term. more strengthen outlined by committed progress, our supplemental. we nearly income, as additional bring
quarter non-apparel leases was our to of our executed XXXX, new total with tenant XX% apparel base the diversifying tenants, new leasing XX% entertainment nearly with In through over accelerated are value and We in non-apparel dining This new including of from service. executed our our trend away leasing. first tenant.
hotels, create XX XX and valuable agreements under allow parking have entertainment two and active projects, to out fitness grocers XX two negotiations number multifamily two are These currently four us in non-retail on of five medical two underutilized other executed value a parcels. or are areas from uses. construction, operators additions restaurants, facilities, self-storage uses, casinos, We centers, including extract
anchor are expenses. also we and As vacant to aggressively backfill we shop locations replace space, lower working
We and efficiencies. bonus senior have management have reduced salary achieve taken to other amounts steps and cost for
a We Acadiana are of this to week source. monetization in portfolio actively managing we underperforming January. the Mall sale closed well low-cost of And through the other Creek the well Cary equity Mall. of Center, disposition as as of Honey We assets a in our as transfer as of properties, completed sale earlier Towne provide
opportunity we have welcomed every to our field and team with of energy commitment office and CBL aggressively the none. company's home education people sales employees remain and April, management for conference pursuing strategy properties Chattanooga leadership staff liquidity building. dedication to creativity improve team is our along second company's and and We The training In to valuation. urgently execute. We are our successfully the to stabilize we CBL that and held confident and the
have While morale, to touch the challenges the experiencing together navigating are singularly today. the that on briefly on team class tall we has focused rallied could consistently the we on CBL all successfully that challenges I'll actions any decision face we action filing our we and have are weigh settlement believe been stand we continue announced and times wrongdoing denied proper all and in one at deny of and faced. that to settle the From March. the The most was lawful. have we to difficult initial
pace The of to annual of given inherent decision cash mitigate business and its Company the the case choice believe the litigation, risk for and of settle and this the shareholders. helps impact. the was structure settlement the right the to in the acceleration made the we However,
credited generally claims cash a of five-year in current dividend over a $XX process The attorney's through suspension million go will period. tenants from the tenants common offset will and expense the cash Former savings the be fees. will
XXXX determine level. income in in to in reinstate appropriate review our for later January is year common will said on projections the to we the As release we settlement, our intent dividend the and taxable the
Final executed early X-K has our court which occur and have on approval more a approval could the filing August settlement we settlement. the we'll the after components As of disclosure as is week to to credit The cash agreement. subject preliminary settlement able provide as noted order. still provided be but the approval, final last by
to settlement appreciate will activity. received our Finally, since this from final what I'll to has the of operating the approval we will understanding additional that now results beyond call not making and and comments caution court, sensitivity. discuss be this previously we disclosed not turn investment over Katie I your
