CTO Realty Growth Announces the Sale of its Main Street Properties in Daytona Beach, FL for $7.1 Million
CTO Realty Growth (NYSE:CTO) has announced the sale of its Main Street properties in Daytona Beach, Florida for $7.1 million, resulting in a gain of approximately $1.1 million. As part of the transaction, CTO provided seller financing of $5.0 million for 5 years at an annual rate of 6.50%.
The company plans to reinvest the proceeds into larger format shopping centers in high-growth markets across the Southeast and Southwest United States. This strategic move aligns with CTO's focus on simplifying its portfolio and divesting from smaller, noncore investments.
CTO Realty Growth (NYSE:CTO) ha comunicato la vendita dei suoi immobili Main Street a Daytona Beach, Florida, per 7,1 milioni di dollari, realizzando un utile di circa 1,1 milioni di dollari. Nell'ambito dell'operazione, CTO ha concesso un finanziamento al venditore di 5,0 milioni di dollari a 5 anni con un tasso annuo del 6,50%.
L'azienda intende reinvestire i proventi in centri commerciali di formato più ampio in mercati ad alta crescita nel Sudest e nel Sudovest degli Stati Uniti. Questa mossa strategica è in linea con l'obiettivo di CTO di semplificare il portafoglio e dismettere investimenti minori e non strategici.
CTO Realty Growth (NYSE:CTO) ha anunciado la venta de sus propiedades Main Street en Daytona Beach, Florida, por 7,1 millones de dólares, logrando una ganancia de aproximadamente 1,1 millones de dólares. Como parte de la transacción, CTO concedió financiación al vendedor por 5,0 millones de dólares a 5 años con una tasa anual del 6,50%.
La compañía planea reinvertir los ingresos en centros comerciales de mayor tamaño en mercados de alto crecimiento en el Sureste y Suroeste de Estados Unidos. Este movimiento estratégico coincide con el enfoque de CTO en simplificar su cartera y deshacerse de inversiones menores no esenciales.
CTO Realty Growth (NYSE:CTO)는 플로리다 데이토나 비치에 있는 Main Street 자산을 710만 달러에 매각했다고 발표했으며, 약 110만 달러의 이익을 기록했습니다. 거래의 일환으로 CTO는 연이율 6.50%로 5년 만기 500만 달러의 판매자 금융을 제공했습니다.
회사는 매각 대금을 미국 남동부 및 남서부의 고성장 시장에 있는 대규모 쇼핑센터에 재투자할 계획입니다. 이번 전략적 조치는 포트폴리오를 단순화하고 소규모 비핵심 투자를 처분하려는 CTO의 방침과 일치합니다.
CTO Realty Growth (NYSE:CTO) a annoncé la vente de ses biens Main Street à Daytona Beach, en Floride, pour 7,1 millions de dollars, réalisant une plus-value d'environ 1,1 million de dollars. Dans le cadre de la transaction, CTO a accordé un financement vendeur de 5,0 millions de dollars sur 5 ans au taux annuel de 6,50 %.
La société prévoit de réinvestir les produits de la vente dans des centres commerciaux de plus grande envergure sur des marchés à forte croissance dans le Sud-Est et le Sud-Ouest des États-Unis. Cette décision stratégique s'inscrit dans la volonté de CTO de simplifier son portefeuille et de céder des investissements plus petits et non essentiels.
CTO Realty Growth (NYSE:CTO) hat den Verkauf seiner Main Street-Immobilien in Daytona Beach, Florida, für 7,1 Millionen US-Dollar bekanntgegeben und dabei einen Gewinn von etwa 1,1 Millionen US-Dollar erzielt. Im Rahmen der Transaktion stellte CTO eine Verkäuferfinanzierung in Höhe von 5,0 Millionen US-Dollar über 5 Jahre zu einem jährlichen Zinssatz von 6,50% bereit.
Das Unternehmen plant, die Erlöse in größere Einkaufszentren in wachstumsstarken Märkten im Südosten und Südwesten der Vereinigten Staaten zu reinvestieren. Dieser strategische Schritt entspricht CTOs Ziel, das Portfolio zu vereinfachen und kleinere, nicht strategische Investments zu veräußern.
- Generated a gain of $1.1 million from the property sale
- Secured 6.50% annual interest revenue through $5.0 million seller financing
- Strategic portfolio optimization by divesting from smaller, noncore assets
- Reduced property portfolio size through divestment
- Potential risks associated with providing seller financing
Insights
CTO's $7.1M property sale with $1.1M gain signals strategic portfolio refinement toward larger shopping centers in high-growth Southeast/Southwest markets.
CTO Realty Growth has completed the sale of its Main Street properties in Daytona Beach for
This transaction aligns with CTO's articulated strategy of simplifying its portfolio and divesting smaller, non-core assets. The
The seller financing component is particularly noteworthy in the current high interest rate environment. By offering
Management's stated intention to redeploy proceeds into larger format shopping centers in high-growth Southeastern and Southwestern markets reflects a strategic pivot toward retail properties with potentially stronger demographic tailwinds and economies of scale. This geographic focus aligns with migration patterns toward Sun Belt states that have experienced population and economic growth exceeding national averages.
As a REIT that also manages Alpine Income Property Trust (PINE), this transaction reinforces CTO's focus on optimizing its portfolio composition while maintaining its qualification as a REIT.
WINTER PARK, Fla., Aug. 20, 2025 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) announced today that it has sold its Main Street properties in Daytona Beach, Florida for
“We continue to simplify our portfolio and harvest value from smaller and noncore investments,” stated John P. Albright, President and Chief Executive Officer of CTO Realty Growth. “We intend to recycle the proceeds from the sale of the Main Street properties into larger format shopping centers in high growth target markets in the Southeast and Southwest.”
About CTO Realty Growth, Inc.
CTO Realty Growth, Inc. owns and operates high-quality, open-air shopping centers located in the higher growth Southeast and Southwest markets of the United States. CTO also externally manages and owns a meaningful interest in Alpine Income Property Trust, Inc. (NYSE: PINE).
We encourage you to review our most recent investor presentation and supplemental financial information, which is available on our website at www.ctoreit.com.
Safe Harbor
Certain statements contained in this press release (other than statements of historical fact) are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can typically be identified by words such as “believe,” “estimate,” “expect,” “intend,” “anticipate,” “will,” “could,” “may,” “should,” “plan,” “potential,” “predict,” “forecast,” “project,” and similar expressions, as well as variations or negatives of these words. Statements, among others, relating to the Company’s intention to recycle the proceeds from the sale of the Main Street properties into larger format shopping centers in high growth target markets in the Southeast and Southwest are forward-looking statements.
Although forward-looking statements are made based upon management’s present expectations and beliefs concerning future developments and their potential effect upon the Company, a number of factors could cause the Company’s actual results to differ materially from those set forth in the forward-looking statements. Such factors may include, but are not limited to: the Company’s ability to remain qualified as a REIT; the Company’s exposure to U.S. federal and state income tax law changes, including changes to the REIT requirements; general adverse economic and real estate conditions; macroeconomic and geopolitical factors, including but not limited to inflationary pressures, interest rate volatility, distress in the banking sector, global supply chain disruptions, and ongoing geopolitical war; credit risk associated with the Company investing in structured investments; the impact of epidemics or pandemics on the Company’s business and the businesses of its tenants or borrowers and the impact of such epidemics or pandemics on the U.S. economy and market conditions generally; the inability of major tenants or borrowers to continue paying their rent or obligations due to bankruptcy, insolvency or a general downturn in their businesses; the loss or failure, or decline in the business or assets of PINE; the completion of 1031 exchange transactions; the availability of investment properties that meet the Company’s investment goals and criteria; the uncertainties associated with obtaining required governmental permits and satisfying other closing conditions for planned acquisitions and sales; and the uncertainties and risk factors discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and other risks and uncertainties discussed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission.
There can be no assurance that future developments will be in accordance with management’s expectations or that the effect of future developments on the Company will be those anticipated by management. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.
Contact: Investor Relations ir@ctoreit.com
FAQ
How much did CTO Realty Growth sell its Daytona Beach Main Street properties for?
What are the terms of the seller financing provided by CTO Realty Growth for the Main Street properties sale?
What is CTO Realty Growth's plan for the proceeds from the Daytona Beach property sale?
What is CTO Realty Growth's current business strategy regarding its property portfolio?
