CTO Realty closes $100M unsecured term loan; YTD investments hit $273.8M at 9.1% yield

CTO Realty Growth, Inc.

Entered $100M five-year unsecured term loan at SOFR+spread; initial effective fixed rate 4.7% after swapping existing hedges.
YTD investment activity totals $273.8M (weighted avg yield 9.1%), exceeding full-year 2024 guidance; updated guidance on Oct 24 earnings.
Originated $43.8M first mortgage loan with initial 2-year term, 11% fixed rate, and 1.25% origination fee; secured by mixed-use development land near Dulles.
Raised $125.7M net via ATM program in Q3, issuing 6.9M shares at $18.63 weighted avg; quarter-end shares outstanding 29.97M.
At quarter-end, ~$200M borrowing capacity remains on revolving credit facility; strengthened balance sheet and liquidity for growth.

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