Financing ·
CTO Realty Growth closes $1.0 billion amended credit facility, extending weighted average maturity to 4.3 years
CTOCTO Realty Growth, Inc.
CTO Realty Growth closed a $1.0 billion amended and restated unsecured credit facility on September 29, 2026, led by KeyBank National Association. The new structure includes a $400 million revolving facility maturing in September 2030 with two six-month extension options, plus four term loans: $150 million due September 2029 (upsized from $125 million), $150 million due September 2030 (upsized from $125 million), a new $150 million tranche due September 2031, and a new $150 million tranche due March 2032. The company used proceeds to repay its previous BMO Credit Agreement obligations. This transaction increases total commitments by $250 million and extends the weighted average maturity of outstanding debt from 1.6 years to 4.3 years, excluding extension options. Initial fixed interest rates range from 3.4% to 5.3% based on SOFR swaps. CTO Realty Growth owns and operates high-quality open-air shopping centers primarily in the Southeast and Southwest United States.