CTO Realty Growth acquires Ashley Park for $79.8M

CTO Realty Growth (CTO) announced the acquisition of Ashley Park, a 559,000-square-foot, 60-acre, lifestyle center in the Newnan submarket of Atlanta, Georgia for a purchase price of $79.8M. The purchase price represents a going-in cap rate near the high end of the company’s current guidance range for initial cash yields. The acquisition increases the total portfolio by 12%, to 5.2M square feet.