CTO AG真人官方ty Growth Announces the Sale of its Main Street Properties in Daytona Beach, FL for $7.1 Million
CTO AG真人官方ty 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 AG真人官方ty 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 pi霉 ampio in mercati ad alta crescita nel Sudest e nel Sudovest degli Stati Uniti. Questa mossa strategica 猫 in linea con l'obiettivo di CTO di semplificare il portafoglio e dismettere investimenti minori e non strategici.
CTO AG真人官方ty Growth (NYSE:CTO) ha anunciado la venta de sus propiedades Main Street en Daytona Beach, Florida, por 7,1 millones de d贸lares, logrando una ganancia de aproximadamente 1,1 millones de d贸lares. Como parte de la transacci贸n, CTO concedi贸 financiaci贸n al vendedor por 5,0 millones de d贸lares a 5 a帽os con una tasa anual del 6,50%.
La compa帽铆a planea reinvertir los ingresos en centros comerciales de mayor tama帽o en mercados de alto crecimiento en el Sureste y Suroeste de Estados Unidos. Este movimiento estrat茅gico coincide con el enfoque de CTO en simplificar su cartera y deshacerse de inversiones menores no esenciales.
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CTO AG真人官方ty Growth (NYSE:CTO) a annonc茅 la vente de ses biens Main Street 脿 Daytona Beach, en Floride, pour 7,1 millions de dollars, r茅alisant une plus-value d'environ 1,1 million de dollars. Dans le cadre de la transaction, CTO a accord茅 un financement vendeur de 5,0 millions de dollars sur 5 ans au taux annuel de 6,50 %.
La soci茅t茅 pr茅voit de r茅investir les produits de la vente dans des centres commerciaux de plus grande envergure sur des march茅s 脿 forte croissance dans le Sud-Est et le Sud-Ouest des 脡tats-Unis. Cette d茅cision strat茅gique s'inscrit dans la volont茅 de CTO de simplifier son portefeuille et de c茅der des investissements plus petits et non essentiels.
CTO AG真人官方ty Growth (NYSE:CTO) hat den Verkauf seiner Main Street-Immobilien in Daytona Beach, Florida, f眉r 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 Verk盲uferfinanzierung in H枚he von 5,0 Millionen US-Dollar 眉ber 5 Jahre zu einem j盲hrlichen Zinssatz von 6,50% bereit.
Das Unternehmen plant, die Erl枚se in gr枚脽ere Einkaufszentren in wachstumsstarken M盲rkten im S眉dosten und S眉dwesten der Vereinigten Staaten zu reinvestieren. Dieser strategische Schritt entspricht CTOs Ziel, das Portfolio zu vereinfachen und kleinere, nicht strategische Investments zu ver盲u脽ern.
- 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 AG真人官方ty 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 AG真人官方ty Growth, Inc. (NYSE: CTO) (the 鈥淐ompany鈥� or 鈥淐TO鈥�) announced today that it has sold its Main Street properties in Daytona Beach, Florida for
鈥淲e continue to simplify our portfolio and harvest value from smaller and noncore investments,鈥� stated John P. Albright, President and Chief Executive Officer of CTO AG真人官方ty Growth. 鈥淲e 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.鈥澨�
About CTO AG真人官方ty Growth, Inc.
CTO AG真人官方ty 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 .
Safe Harbor听
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 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渋ntend,鈥� 鈥渁nticipate,鈥� 鈥渨ill,鈥� 鈥渃ould,鈥� 鈥渕ay,鈥� 鈥渟hould,鈥� 鈥減lan,鈥� 鈥減otential,鈥� 鈥減redict,鈥� 鈥渇orecast,鈥� 鈥減roject,鈥� and similar expressions, as well as variations or negatives of these words.听Statements, among others, relating to the Company鈥檚 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鈥檚 present expectations and beliefs concerning future developments and their potential effect upon the Company, a number of factors could cause the Company鈥檚 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鈥檚 ability to remain qualified as a REIT; the Company鈥檚 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鈥檚 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鈥檚 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鈥檚 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鈥檚 filings with the U.S. Securities and Exchange Commission.
There can be no assurance that future developments will be in accordance with management鈥檚 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 [email protected]
FAQ
How much did CTO AG真人官方ty Growth sell its Daytona Beach Main Street properties for?
What are the terms of the seller financing provided by CTO AG真人官方ty Growth for the Main Street properties sale?
What is CTO AG真人官方ty Growth's plan for the proceeds from the Daytona Beach property sale?
What is CTO AG真人官方ty Growth's current business strategy regarding its property portfolio?
