Cto Realty Growth Announces Acquisition Of Mixed-Use, Grocery-Anchored Lifestyle Property In Richmond, Virginia For $93.9 Million
Acquiring Company
CTO Realty Growth
Winter ParkSustainabilityNatural ResourcesFinancial ServicesReal EstateLending And InvestmentsReal Estate InvestmentCommercial Real EstateDescription
CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today announced it has acquired West Broad Village, a 392,000 square foot mixed-use, grocery-anchored lifestyle property in the Short Pump submarket of Richmond, Virginia (the “Property”) for a purchase price of $93.9 million. The purchase price represents a going-in cap rate above the range of the Company’s current guidance for initial cash yields.
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