CBL & Associates Properties (CBL) said Thursday it has purchased Gateway Mall from Washington Prime Group for $43.5 million.

The acquisition was financed with a $21 million non-recourse, five-year loan from Symetra Life Insurance, it said.

CBL also said it struck a deal to sell an open-air center at some 8% capitalization rate. It expects to raise net proceeds after debt repayment of $25 million, with closing expected in April.

The company said the transactions will advance its plan to grow its mall portfolio and increase cash flow through capital recycling.