CTO Realty Growth, Inc. has announced its record 2022 acquisition and disposition activities and provided a corporate update.

2022 Investment Highlights

During the year ended December 31, 2022, the Company completed five mixed-use or retail property acquisitions for total value of US$314.0 million, representing a weighted-average going-in cash cap rate of 7.5 per cent.

During the year ended December 31, 2022, the Company originated structured investments totaling US$59.2 million at a weighted-average initial yield of 8.2 per cent. The Company’s US$19.0 million loan secured by WaterStar Orlando was repaid in full during the fourth quarter of 2022.

The 2022 investments are concentrated in well-located submarkets of Atlanta, Richmond, Dallas, and Houston.

Notable new tenants in the Company’s portfolio include grocers Publix and Whole Foods, as well as Academy Sports, Southern University, and REI.

During the year ended December 31, 2022, the Company purchased 155,665 shares of common stock of Alpine Income Property Trust, Inc. (“PINE”) at a weighted average gross price of US$17.57 per share. As of December 31, 2022, the Company owned 2,203,397 shares of PINE common stock and operating partnership units.

2022 Disposition Highlights

During the year ended December 31, 2022, the Company sold six income properties for total disposition volume of US$81.1 million, at a weighted average exit cap rate of 6.2 per cent. The sale of the properties generated aggregate gains of US$4.7 million.

During the same period, the Company sold approximately 15,000 acres of subsurface oil, gas and mineral rights for US$1.7 million.

During the fourth quarter of 2022, the Company sold 100 per cent of its ownership interest in the entity that owns all of the mitigation credit rights for gross proceeds of US$8.1 million. As part of the transaction, the Company retained the right to 35 mitigation credits and/or mitigation credit rights for future sale.