CTO Realty Growth Expands Presence In Tampa Metro Area with Acquisition of Grocery Anchored Property

Acquisition Details - CTO Realty Growth Inc acquired Granada Plaza for $16 8 million prior to closing costs and adjustments [1] - Granada Plaza is a 74 000 square foot shopping center anchored by a high performing Publix and located in Dunedin Florida [2] - The property is situated on seven acres and is 95% occupied [2] Strategic Impact - The acquisition adds another grocery anchored shopping center to CTO Realty Growth Inc's portfolio and expands its presence in Tampa [3] - Approximately 22% of the company's annual base rent is provided by grocery anchored shopping centers [3] - Florida accounts for approximately 20% of the company's annual base rent making it the second largest state [3] - Publix becomes the company's sixth largest tenant [3] Investment Overview - Year to date the company has completed $330 7 million of investments at a weighted average yield of 9 3% [3] - The investments consist of $226 7 million in retail properties and $104 0 million in structured investments [3] Company Background - CTO Realty Growth Inc owns and operates high quality open air shopping centers in the higher growth Southeast and Southwest markets of the United States [4] - The company also externally manages and owns a meaningful interest in Alpine Income Property Trust Inc (NYSE PINE) [4]