PREIT announced a package of sales totaling some $312.6 million . This month the Philadelphia-based REIT and a multifamily developer completed a sale-leaseback valued at about $153.6 million for five properties. During the fourth quarter, PREIT also sold  $125.3 million worth of outparcels across seven properties to four buyers who will develop 3,450 multifamily units. PREIT also sold two outparcels to two hotel developers for about $3.8 million and 14 outparcels to restaurant-focused REIT Four Corners Property Trust for some $29.9 million during the same period. The company says the sales will boost its liquidity by roughly $200 million. CEO Joseph F. Coradino told analysts to expect a similar amount of asset sales this year, as the company continues to densify its most in-demand properties.

Macerich has lined up four hotel deals, including Caesars Republic, at Scottsdale (Ariz.) Fashion Square, plus five co-working deals, most of them with Industrious, according to CEO Thomas E. O’Hern. “We agreed to three Life Time Fitness deals, plus one Equinox,” he said on an earnings call. “Five years ago these uses did not exist in malls. We expect this trend to accelerate as we move into 2020 and 2021.”

Macerich is applying the uses to former Sears stores in particular. A redevelopment of the former Sears anchor at Washington Square, in Portland, Ore., for example, will include entertainment, food-and-beverage, creative office and hotel space, all of it around a plaza that is to be a gathering point as well as leading into the mall, according to O’Hern. “Our intent is to bring multifamily and hotel with some combination of ground leases and partnerships with multifamily and hotel developers, with a minimal capital outlay on our part.”

CBL Properties, meanwhile, wants to add hotels, multifamily, medical, office and storage tenants to its malls. “This time last year, we had over 40 anchor closures,” said Stephen D. Lebovitz, CBL’s president, on a fourth-quarter earnings call. “Today we have more than two-thirds of that space replaced with dynamic, new, traffic-driving uses. Most of these uses are not traditional retail names. They include educational uses, fitness centers, casinos, middle-market entertainment, fast-casual and sit-down restaurants, and in-demand value retail.”

CBL is working on two multifamily projects, 14 entertainment operations (including two casinos), nine hotels, 28 restaurants, eight fitness centers, nine medical uses, three self-storage facilities and other nonretail uses. “We are minimizing required capital investment while effecting transformative redevelopments,” said Lebovitz. “We are utilizing ground leases, joint ventures and other creative structures.”