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The latest update is out from CTO Realty Growth (CTO).
CTO Realty Growth, Inc. has successfully acquired a portfolio of three properties located in Charlotte, North Carolina, Orlando, and Tampa, Florida for $137.5 million from an institutional owner. This strategic acquisition, which was not influenced by any material relationships with the company’s insiders, was financed through available cash and the company’s credit facility. The deal, structured as a reverse like-kind exchange, allows for potential future property sales by the company. The company publicly announced the completion of this acquisition the following day.
Find detailed analytics on CTO stock on TipRanks’ Stock Analysis page.
