CTO Realty Growth, Inc. announced the origination of a $40.2 million first mortgage loan on November 7, 2024. The loan has an initial term of thirty months and carries an initial fixed interest rate of 12.15%.
This financing is for the development of an approximately 80,000 square foot retail center located in Forsyth County, Georgia, an affluent suburb of Atlanta. The development is anchored by a 35,500 square foot Whole Foods Market.
The origination of this structured investment aligns with CTO's strategy to invest in high-quality, retail-based properties in growth markets. This loan provides the company with a strong yield and exposure to a desirable retail development.
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