Winter Park, Florida, March 03, 2025 (Globe Newswire) – CTO Realty Growth, Inc. (NYSE: CTO) (The “Company” or “CTO”), a leading owner and operator of high -quality outdoor shopping centers, announced today the acquisition of Ashley Park (the “Property”), announced the conjuncture of Ashley Park ( “Property”), has 559,000. 60-acres lifestyle center in the Newnan submarket in Atlanta, Georgia, for a purchase price of $ 79.8 million. The purchase price represents a walking ceiling rate near the upper end of the company’s current orientation range for yields in initial cash. The acquisition increases the total portfolio by 12%, to 5.2 million square feet.
“This acquisition improves our portfolio by adding another life -style shopping center in Atlanta, our largest market, while taking advantage of our local staff to generate operational synergies. In addition, around 82% of our annual basic rent comes from assets located in Georgia, Florida, Texas, or North Carolina,” said John P. Growth, Inc. becomes our fifth largest tenant. We have acquired the property below the replacement cost with rents lower than the market, offering the possibility of unlocking long -term value thanks to possibilities for strategic rental and brand brand rental. »»
The property is anchored by Dick’s Sporting Goods, Best Buy, Barnes & Noble, Regal and Dillard, and is currently 93%occupied. Ashley Park is located along the I-85, south of Hartsfield-Jackson airport. The property receives more than 6 million visits per year.
About CTO Realty Growth, Inc.
CTO Realty Growth, Inc. has and operates high-quality outdoor outdoor shopping centers located in the southeast and southwest markets of the United States. The CTO also manages and also has a significant interest in Alpine Incoming Property Trust, Inc. (NYSE: Pine).
We encourage you to examine our presentation of the most recent investors and our additional financial information, which is available on our website in www.ctoreit.com.
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Certain statements contained in this press release (other than historical factual declarations) are prospective declarations within the meaning of article 27a of the Securities Act of 1933, as modified, and article 21 of the EXCHANGE ACT SECURITIES of 1934, as modified. Prospective declarations can generally be identified by words such as “believe”, “estimate”, “wait”, “want”, “anticipate”, “will”, “could”, “can”, “should”, “plan”, “potential”, “predict”, “forecast”, “project” and similar expressions, as well as variations or negatives of these words. Examples of prospective declarations in this press release include, without limitation, declarations concerning the acquisition by the ownership company below the replacement cost by rents lower than the market, offering the possibility of unlocking the long -term value thanks to the possibilities of strategic rental and marking to the brand.
Although prospective declarations are made on the basis of current management expectations and beliefs concerning future developments and their potential effect on society, a certain number of factors could ensure that the real results of society differ considerably from those set out in prospective statements. These factors may include, without limiting itself: the company’s ability to remain qualified as FPI; The company’s exposure to changes in the Federal Tax and the State of the United States, including changes in the FPI requirements; general economic and real estate conditions; Macroeconomic and geopolitical factors, including, but without limiting itself, inflationary pressures, interest rates volatility, prices, distress in the banking sector, disturbances in the world supply chain and continuous geopolitical war; Credit risk associated with investing in structured investments; The ultimate geographic spread, the severity and duration of pandemics, the actions that can be taken by government authorities to contain or approach the impact of these pandemics, and the potential negative impacts of these pandemics on the global economy and the financial situation and the results of operations; The incapacity of the main tenants to continue to pay their rent or their obligations due to bankruptcy, insolvency or a general slowdown in their business; loss or failure, or decline in the company or assets of pine; the completion of 1031 exchange transactions; The availability of investment properties that meet the company’s objectives and investment criteria; the uncertainties associated with obtaining a required government’s permit and the satisfaction of the other closing conditions for the acquisitions and the sales provided; And the uncertainties and risk factors discussed in the company’s annual report on Form 10-K for the year ended on December 31, 2024 and other risks and uncertainties discussed from time to time in the company’s deposits with the Securities and Exchange American Commission.
There is no guarantee that future developments will comply with management expectations or that the effect of future developments on the company will be those provided by management. Readers are warned not to rely excessively to these prospective declarations, which only speak on the date of this press release. The company does not lend any obligation to update the information contained in this press release to subsequently reflect events or circumstances that occur.
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