An announcement from CTO Realty Growth (CTO) is now available.
CTO Realty Growth, Inc. has signed an agreement to acquire a valuable portfolio of three properties in key locations—Charlotte, Orlando, and Tampa—for $137.5 million, aiming to complete the purchase in the third quarter of 2024. While the deal is currently pending due to certain conditions that are not yet satisfied, the properties boast a high occupancy rate and a stable weighted average lease term. Financing options for this strategic acquisition include cash, credit facilities, securities offerings, or proceeds from property sales, but the company cautions potential risks such as delays or changes to the terms.
For detailed information about CTO stock, go to TipRanks’ Stock Analysis page.
