CTO Realty Growth Announces Sale of Mixed-Use Property in Santa Fe, New Mexico for $20.0 Million [Yahoo! Finance]
CTO Realty Growth, Inc. (CTO)
NASDAQ:AMEX Investor Relations:
ir.ctlc.com
Company Research
Source: Yahoo! Finance
the sale of its mixed-use property totaling approximately 136,000 square feet in downtown Santa Fe, New Mexico (the “Property”). The Property was sold for approximately $20.0 million, representing an exit cap rate within the range of the Company's current guidance for disposition cash yields and generating a gain on sale of approximately $4.6 million. “In recent months, we have successfully sold many of our smaller non-core properties and nearly all of our legacy office exposure,” said John P. Albright, President and Chief Executive Officer of CTO Realty Growth, Inc. “We anticipate using the proceeds from this sale to fund the acquisition of a core power center in the Orlando MSA, which we expect to close in the first quarter of 2024.” The Company expects to utilize the sales proceeds as part of a Section 1031 like-kind exchange (the “1031 Exchange”). Following the completion of the 1031 Exchange, the Company intends to use available proceeds to repay a portion of the outstanding
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CTO
News
- CTO Realty Growth Reports First Quarter 2024 Operating Results [Yahoo! Finance]Yahoo! Finance
- CTO Realty Growth Reports First Quarter 2024 Operating ResultsGlobeNewswire
- Those who invested in CTO Realty Growth (NYSE:CTO) five years ago are up 48% [Yahoo! Finance]Yahoo! Finance
- Heritage Real Estate Co. completes acquisition of Santa Fe office complex [Yahoo! Finance]Yahoo! Finance
- CTO Realty Growth, Inc. (NYSE: CTO) is now covered by analysts at Alliance Global Partners. They set a "buy" rating and a $20.00 price target on the stock.MarketBeat
CTO
Earnings
- 5/2/24 - Beat
CTO
Sec Filings
- 5/2/24 - Form 10-Q
- 5/2/24 - Form 8-K
- 4/29/24 - Form ARS
- CTO's page on the SEC website