CTO Realty Growth, Inc. (CTO): M&A transaction — CTO Realty Growth files financial statements for $96M Forsyth property acquisition

CTO Realty Growth, Inc.

Acquired The Collection at Forsyth, a mixed-use property in Atlanta, for $96.0 million on Dec 29, 2022.
Property generated $12.4M lease revenue and $4.0M direct costs (2021); $9.5M revenue and $3.0M direct costs (9M 2022).
Pro forma net income attributable to common stockholders: $0.27/sh for 9M 2022 and $1.71/sh for 2021.
Acquisition funded with available cash and revolver draws; structured as reverse like-kind exchange.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

CTO Realty Growth, Inc. completed an acquisition involving a certain institutional owner for $96.0 million (closed 2022-12-29).

Action: acquisition
Counterparty: a certain institutional owner
Consideration: $96.0 million
Closing: 2022-12-29

Exact text from the filing

On December 29, 2022, CTO Realty Growth, Inc. (the "Company" or "CTO") completed the acquisition of a lifestyle, mixed-use property in the Forsyth submarket of Atlanta, Georgia (the "Property") from a certain institutional owner (the "Seller") for a purchase price of $96.0 million.

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CTO Realty Growth, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-000665

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