CTO Realty Growth Announces the Sale of the Shops at Legacy North for $78.0 Million
CTO Realty Growth (NYSE: CTO) announced the sale of the Shops at Legacy North, a 243,000-square-foot mixed-use lifestyle center in Dallas, for $78.0 million (≈$321 per sq ft) on Dec 19, 2025.
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Rhea-AI Summary
CTO Realty Growth (NYSE: CTO) announced the sale of the Shops at Legacy North, a 243,000-square-foot mixed-use lifestyle center in Dallas, for $78.0 million (≈$321 per sq ft) on Dec 19, 2025.
The company said the disposition realized an approximate low-5% exit cash cap rate and that net proceeds will be used in a Section 1031 like-kind exchange, retroactively funding CTO’s Pompano Citi Centre acquisition on Dec 17, 2025, with remaining proceeds for future acquisitions.
Year-to-date disposition volume is $85.1 million, representing a weighted average exit cash cap rate of mid-5%. The company noted the sale reflects leasing progress at the property and supports capital recycling into higher-yielding opportunities.
Positive
- Sale price of $78.0 million
- Price equals $321 per square foot
- Disposition at approximate low-5% exit cash cap rate
- Proceeds used to fund Pompano Citi Centre acquisition (Dec 17, 2025)
- YTD disposition volume of $85.1 million
Negative
- Portfolio reduced by 243,000 square feet
- YTD dispositions of $85.1 million may limit near-term recycling scale
Details
News Market Reaction – CTO
On Dec 22, the first trading day after this news, CTO closed 1.94% below the previous close.
Data tracked by StockTitan Argus for the Dec 22 session.
Key Figures
- Sale price
- $78.0 million
- Shops at Legacy North disposition
- Property size
- 243,000 square feet
- Shops at Legacy North mixed-use center
- Price per sq ft
- $321 per square foot
- Shops at Legacy North sale metric
- YTD disposition volume
- $85.1 million
- Includes Shops at Legacy North and Main Street properties
- Q3 2025 revenue
- $37.8 million
- Quarter ended September 30, 2025
- Prior-year Q3 revenue
- $31.8 million
- Quarter ended September 30, 2024
- Q3 2025 net income
- $1.0 million
- Net income attributable to common stockholders, Q3 2025
- 9M 2025 net loss
- $23.9 million
- Net loss to common for nine months ended Sept 30, 2025
Historical Context
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New fitness and dining tenants opened at Beaver Creek Crossings, boosting occupancy.
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Albuquerque office reached 100% leased to two investment‑grade tenants with long terms.
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Declared Q4 2025 common dividend of $0.38 per share with ≈8.8% yield.
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Leasing progress at Shops at Legacy raised leased occupancy to about 85%.
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Grand opening of The Picklr and new space at The Collection at Forsyth lifted occupancy.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
exit cash cap rate financial
section 1031 like-kind exchange financial
forward-looking statements regulatory
reit financial
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WINTER PARK, Fla., Dec. 19, 2025 (GLOBE NEWSWIRE) -- CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”), an owner and operator of high-quality open-air retail centers located predominately in high-growth markets across the Southeast and Southwest, announced today the sale of the Shops at Legacy North, a 243,000-square-foot mixed-use lifestyle center in Dallas, Texas (the “Property”). The Property was sold for
“We are very pleased with the strong pricing achieved on this transaction, which reflects the significant leasing completed at the Shops at Legacy North over the past two years,” said John P. Albright, President and Chief Executive Officer of CTO Realty Growth. “This disposition at an approximate low
The Company intends to utilize the net proceeds as part of a Section 1031 like-kind exchange, retroactively funding the Pompano Citi Centre acquisition, with remaining proceeds earmarked for future acquisitions.
Year-to-date disposition volume is
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.
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
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