CBL CBL and Associates Properties Inc

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 NAME OF REPORTING PERSON

 Canyon Capital Advisors LLC

 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 (a) ☐  (b) ☐

 SEC USE ONLY

 SOURCE OF FUNDS

 AF

 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 ☐

 CITIZENSHIP OR PLACE OF ORGANIZATION

 Delaware

NUMBER OF

SHARES  BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH:

 SOLE VOTING POWER

 8,466,294

 SHARED VOTING POWER

 -0-

 SOLE DISPOSITIVE POWER

 8,466,294

 SHARED DISPOSITIVE POWER

 -0-

 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON

 8,466,294

 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 ☐

 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 27.5%

 TYPE OF REPORTING PERSON

 IA

 NAME OF REPORTING PERSON

 Mitchell R. Julis

 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 (a) ☐  (b) ☐

 SEC USE ONLY

 SOURCE OF FUNDS

 AF

 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 ☐

 CITIZENSHIP OR PLACE OF ORGANIZATION

 United States

NUMBER OF

SHARES  BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH:

 SOLE VOTING POWER

 -0-

 SHARED VOTING POWER

 8,466,294

 SOLE DISPOSITIVE POWER

 -0-

 SHARED DISPOSITIVE POWER

 8,466,294

 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON

 8,466,294

 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 ☐

 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 27.5%

 TYPE OF REPORTING PERSON

 IN

 NAME OF REPORTING PERSON

 Joshua S. Friedman

 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 (a) ☐  (b) ☐

 SEC USE ONLY

 SOURCE OF FUNDS

 AF

 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 ☐

 CITIZENSHIP OR PLACE OF ORGANIZATION

 United States

NUMBER OF

SHARES  BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH:

 SOLE VOTING POWER

 -0-

 SHARED VOTING POWER

 8,466,294

 SOLE DISPOSITIVE POWER

 -0-

 SHARED DISPOSITIVE POWER

 8,466,294

 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON

 8,466,294

 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 ☐

 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 27.5%

 TYPE OF REPORTING PERSON

 IN

This Amendment No. 4 (this “Amendment No. 4”) supplements the information set forth in the Schedule 13D filed by Canyon Capital Advisors LLC (“CCA”), Mr. Mitchell R. Julis, Mr. Joshua S. Friedman and Mr. Jonathan M. Heller (collectively, the “Reporting Persons”) with the United States Securities and Exchange Commission (the “SEC”) on November 9, 2021, as amended by Amendment No. 1 thereto filed on February 7, 2022, by Amendment No. 2 thereto filed on March 2, 2022 and by Amendment No. 3 thereto filed on August 10, 2022 (the “Schedule 13D”) relating to the shares of common stock, $0.001 par value per share (the “Common Stock”), of CBL & Associates Properties, Inc., a Delaware corporation (the “Issuer”).

This Amendment No. 4 is being filed to reflect an increase in the Reporting Persons’ beneficial ownership of more than 1% of the outstanding Common Stock, as a result of a reduction in the outstanding shares of Common Stock. The Reporting Persons’ beneficial ownership percentage has been calculated based on 30,749,272 shares of Common Stock outstanding as of October 10, 2024, as reported in the Issuer’s Current Report on Form 8-K filed with the SEC on October 10, 2024.

The Issuer’s principal executive offices are located at 2030 Hamilton Place Blvd., Suite 500, Chattanooga, TN 37421. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D.

The information set forth in response to each separate Item below shall be deemed to be a response to all Items where such information is relevant.

The Schedule 13D is hereby supplementally amended as follows:

See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of shares of Common Stock.

The percentage reported in this Schedule 13D is calculated based upon 30,749,272 shares of Common Stock outstanding as of October 10, 2024 as reported in the Issuer’s Current Report on Form 8-K filed with the SEC on October 10, 2024.

Exhibit 99.1: Joint Filing Agreement as required by Rule 13d-1(k)(1) under the Act (incorporated by reference to Exhibit 99.1 to Schedule 13D filed by the Reporting Persons with the SEC on November 9, 2021).

Exhibit 99.2: Commitment Letter, by and among the Issuer, the Operating Partnership, CCA and other commitment parties thereto, dated as of April 26, 2021 (incorporated by reference to Exhibit 99.2 to Schedule 13D filed by the Reporting Persons with the SEC on November 9, 2021).

Exhibit 99.3: Registration Rights Agreement, by and among the Issuer and the other parties thereto and any additional parties identified on the signature pages of any joinder agreement executed and delivered pursuant thereto, dated as of November 1, 2021 (incorporated by reference to Exhibit 10.5 to Form 8-K filed by the Issuer with the SEC on November 2, 2021).

Exhibit 99.4: Exchangeable Notes Indenture, by and among the New Notes Issuer, the guarantors thereto, the Issuer, Wilmington Savings Fund Society, FSB, as trustee and collateral agent, dated as of November 1, 2021 (incorporated by reference to Exhibit 10.3 to Form 8-K filed by the Issuer with the SEC on November 2, 2021).

Exhibit 99.5: Director Resignation Agreement, between Canyon Partners LLC and Jeffrey Kivitz, dated as of August 9, 2022 (incorporated by reference to Exhibit 99.5 to Amendment No.3 to Schedule 13D filed by the Reporting Persons with the SEC on August 10, 2022).

/s/ Doug Anderson

/s/ Mitchell R. Julis

/s/ Joshua S. Friedman