CTO Realty (CTO) Sells Mixed-Use Asset to Boost Core Properties

In a significant move toward portfolio optimization, CTO Realty Growth, Inc. (CTO) has successfully closed the sale of a 136,000-square-foot mixed-use property in Santa Fe, New Mexico. The transaction, valued at $20.0 million, resulted in a gain on sale of around$4.6 million.The disposition of the mixed-use property is part of a broader strategy to optimize the portfolio and enhance financial flexibility. CTO Realty Growth intends to utilize the sales proceeds as part of a Section 1031 like-kind exchange, ...