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Cto Realty Growth Announces Acquisition Of Grocery-Anchored Retail Property In Atlanta, Georgia For $80.2 Million

Jul 11, 2022•over 3 years ago

Acquiring Company

CTO Realty Growth

Acquired Company

Grocery-Anchored Property

Lending And InvestmentsFinancial ServicesNatural ResourcesSustainability

Description

CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today announced it has acquired Madison Yards, a 162,500 square foot property located in the Inman Park/Reynoldstown submarket along the Memorial Drive corridor of Atlanta, Georgia (the “Property”) for a purchase price of $80.2 million. The purchase price represents a going-in cap rate below the range of the Company’s guidance for initial cash yields.

Company Information

Company

CTO Realty Growth

About

CTO Realty Growth, Inc. is a publicly traded real estate investment trust that owns and operates a portfolio of high-quality, retail-based properties located primarily in higher growth markets in the United States. CTO also owns an approximate 16% interest in Alpine Income Property Trust, Inc. (NYSE: PINE), a publicly traded net lease REIT. We encourage you to review our most recent investor presentation, which is available on our website at www.ctoreit.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed