CTO Realty Growth draws on revolver for $93.9 million acquisition

By Mary-Katherine Stinson

Lexington, Ky., Oct. 17 – CTO Realty Growth, Inc. announced the acquisition of West Broad Village, a mixed-use grocery-anchored lifestyle property in Richmond, Va., for $93.9 million, according to a press release.

The company drew on its revolver for a portion of the purchase price in addition to using $35 million of restricted cash from previously completed property dispositions and available unrestricted cash.

CTO Realty is a publicly traded REIT based in Winters Park, Fla.

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