CTO Realty Growth, Inc. announced on August 20, 2025, the sale of its Main Street properties located in Daytona Beach, Florida, for $7.1 million. This transaction generated a gain on sale of approximately $1.1 million for the company.
As part of the sale, CTO provided seller financing of $5.0 million for a term of five years at an annual interest rate of 6.50%. This approach allows the company to maintain a financial interest while divesting the asset.
The company stated its intention to recycle the proceeds from this sale into larger format shopping centers situated in high-growth target markets within the Southeast and Southwest regions. This move aligns with CTO's strategy to optimize its portfolio by focusing on core, higher-growth assets.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.