CTO Realty Growth, Inc. has completed the acquisition of a three-property portfolio with locations in Charlotte, North Carolina, Orlando, Florida, and Tampa, Florida on August 20, 2024, from an institutional owner. The purchase price was $137.5 million, with the payment made using available cash and proceeds from the company's revolving credit facility. The transaction was structured as a reverse like-kind exchange. On August 21, 2024, CTO Realty Growth released a press release about the acquisition. Financial statements and pro forma information related to the acquisition have been previously filed.
Names: - CTO Realty Growth, Inc. - Philip R. Mays (Senior Vice President, Chief Financial Officer, and Treasurer)