Consolidated Tomoka Announces Receipt of Entitlements for Land Sale Contract With Minto Communities and 90-Day Extension of Contract
CTO Realty Growth, Inc. (CTO)
NASDAQ:AMEX Investor Relations:
ir.ctlc.com
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Source: GlobeNewswire
DAYTONA BEACH, Fla, Nov. 08, 2018 (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company”) today announced that the approximately 1,614 acres of land subject to the sales contract (the “Minto II Contract”) between the Company and Minto Communities (“Minto”) received the necessary development entitlements from the City of Daytona Beach on Wednesday November 7, 2018. The entitlements allow for Minto to develop 3,250 single-family residential units and approximately 200,000 square feet of commercial space. In addition, the Company and Minto agreed to extend the $26.5 million Minto II Contract to allow for Minto to complete additional due diligence with respect to its anticipated infrastructure costs for the development. The extension allows for the transaction to close during or before the early part of 2019. With the extension of the Minto II Contract the Company expects the total sales value of land transactions closed during the year ended December 31
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CTO
Earnings
- 2/22/24 - Beat
CTO
Sec Filings
- 4/10/24 - Form 8-K
- 4/5/24 - Form 424B5
- 4/4/24 - Form FWP
- CTO's page on the SEC website