secwatch.observer — SEC 8-K summary
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Issuer:     CTO Realty Growth, Inc. (CTO)
CIK:        0000023795
Form:       8-K
Filed at:   2024-08-08T23:59:59+00:00
Accession:  0001104659-24-087287
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CTO Realty signs $137.5M PSA to buy 3-property portfolio (NC, FL)
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- Purchase and Sale Agreement for three properties in Charlotte, Orlando, and Tampa; total price $137.5M subject to prorations.
- Portfolio is 0.9M sq ft, 94.2% leased, with weighted average remaining lease term of 6.2 years.
- Acquisition expected to close in Q3 2024 but closing conditions not yet satisfied; no guarantee.
- Funding sources include cash, credit facility, securities offerings, or reverse 1031 exchange.
- Historical summary: 2023 lease revenue $15.4M, direct costs $4.5M; H1 2024 lease revenue $7.4M, direct costs $2.3M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/23795/000110465924087287/0001104659-24-087287-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/23795/000110465924087287/tm2421006d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-087287

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