An unknown buyer acquired Westcliff Shopping Center from CTO Realty Growth, Inc. (NYSE:CTO) for $14.8 million on October 16, 2023. The Company expects to utilize the sales proceeds as part of a Section 1031 like-kind exchange (the ?1031 Exchange?). Following the completion of the 1031 Exchange, the Company intends to use available proceeds to repay a portion of the outstanding balance under its revolving unsecured credit facility. With the closing of this transaction, the Company has approximately $36.1 million of proceeds held in 1031 restricted cash accounts.

An unknown buyer acquired Westcliff Shopping Center from CTO Realty Growth, Inc. (NYSE:CTO) on October 16, 2023.