Consolidated-Tomoka Completes Sale of Approximately 23 Acres for $8.2 Million to North American Development Group and Acquires Single-Tenant Retail Income Property
CTO Realty Growth, Inc. (CTO)
NASDAQ:AMEX Investor Relations:
ir.ctlc.com
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Source: GlobeNewswire
DAYTONA BEACH, Fla., Dec. 24, 2018 (GLOBE NEWSWIRE) -- Consolidated-Tomoka Land Co. (NYSE American: CTO) (the “Company”) today announced the closing of the sale of approximately 22.53 acres to an affiliate of North American Development Group (“NADG”) for approximately $8.2 million, or approximately $363,000 per acre (the “Final NADG Land Sale”), which includes a reimbursement payment of approximately $1.6 million from NADG for the pro-rata portion of the infrastructure costs incurred by the Company relating to the Tomoka Town Center. The land is comprised of two separate parcels located on the east side of Interstate 95 including approximately 8.07 acres between the Tanger Outlet Mall and the Sam’s Club, that is currently under construction, and approximately 14.46 acres on the east side of the Tomoka Town Center. The estimated gain on the Final NADG Land Sale, including the reimbursement payment, is approximately $6.5 million, or approximately $0.89 per share, after tax. The Compa
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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