CTO Closes ﹩1 Billion Credit Facility
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CTO Realty Growth Inc. (NYSE: CTO) announced on September 30, 2026, that it closed a ﹩1.0 billion amended and restated unsecured credit facility.
The package consists of a ﹩400 million revolver due in September 2030, with two six-month extension options, plus four ﹩150 million term loans maturing from September 2029 through March 2032. Total commitments increased by ﹩250 million.
CTO said the refinancing extended the weighted average maturity of outstanding debt at closing to 4.3 years from 1.6 years, excluding extension options. Proceeds repaid the previous ﹩300 million revolver, a ﹩100 million term loan due in January 2027, and a ﹩100 million term loan due in January 2028.
The term loans initially carry fixed rates of 5.3%, 4.9%, 4.8%, and 3.4% after applying interest-rate swaps at CTO’s current leverage level. The 3.4% rate on the March 2032 loan is scheduled to adjust to approximately 5.3% in February 2027, and other rates can change as swaps expire.
For shareholders, the agreement reduces near-term refinancing pressure and adds acquisition capacity. It does not itself increase earnings or dividend coverage. The important follow-up evidence is how much of the added capacity CTO uses, the properties acquired, leverage, and the resulting interest expense.
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