secwatch.observer — SEC 8-K summary
======================================

Issuer:     CTO Realty Growth, Inc. (CTO)
CIK:        0000023795
Form:       8-K
Filed at:   2024-09-30T23:59:59+00:00
Accession:  0001558370-24-013088
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/23795/000155837024013088/0001558370-24-013088-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/23795/000155837024013088/cto-20240930x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-013088

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer