CTO Realty Growth Announces the Sale of its Main Street Properties in Daytona Beach, FL for $7.1 Million

Core Insights - CTO Realty Growth, Inc. has sold its Main Street properties in Daytona Beach, Florida for $7.1 million, resulting in a gain of approximately $1.1 million from the sale [1] - The company provided seller financing of $5.0 million for 5 years at an annual interest rate of 6.50% as part of the transaction [1] - The company aims to simplify its portfolio and reinvest the proceeds from the sale into larger format shopping centers located in high growth target markets in the Southeast and Southwest [2] Company Overview - CTO Realty Growth, Inc. specializes in owning and operating high-quality, open-air shopping centers in the higher growth Southeast and Southwest markets of the United States [2] - The company also manages and holds a significant interest in Alpine Income Property Trust, Inc. [2]