CTO Realty Growth Acquires Palms Crossing for $81.6 Million

Reuters

Mar 02

<a href="https://laohu8.com/S/CTO">CTO Realty Growth</a> Acquires Palms Crossing for $81.6 Million

CTO Realty Growth Inc. has acquired Palms Crossing, a 399,000-square-foot open-air retail center in McAllen, Texas, for $81.6 million. The property is 98% leased and anchored by Best Buy, Hobby Lobby, Burlington Coat Factory, Barnes & Noble and Nike, and includes two pad sites on about six acres for future development. CTO plans to fund the purchase initially with cash and its revolving credit facility, with an expected mid-2026 property sale to retroactively fund the acquisition.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. CTO Realty Growth Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202603020655PRIMZONEFULLFEED9663828) on March 02, 2026, and is solely responsible for the information contained therein.

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The property is 98% leased and anchored by Best Buy, Hobby Lobby, Burlington Coat Factory, Barnes &amp; Noble and Nike, and includes two pad sites on about six acres for future development. CTO plans to fund the purchase initially with cash and its revolving credit facility, with an expected mid-2026 property sale to retroactively fund the acquisition.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n<i>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. CTO Realty Growth Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202603020655PRIMZONEFULLFEED9663828) on March 02, 2026, and is solely responsible for the information contained therein.</span></i>\n</p>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B64PRP62.GBP","symbol_name":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (GBP) ACC","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20260302:nNDL6kpzd1:1","article_id":"2616339979","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2616339979","pubTimestamp":1772452514,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"CTO Realty Growth Inc. has acquired Palms Crossing, a 399,000-square-foot open-air retail center in McAllen, Texas, for $81.6 million. The property is 98% leased and anchored by Best Buy, Hobby Lobby, Burlington Coat Factory, Barnes & Noble and Nike, and includes two pad sites on about six acres for future development. 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The property is 98% leased and anchored by Best Buy, Hobby Lobby, Burlington Coat Factory, Barnes & Noble and Nike, and includes two pad sites on about six acres for future development. CTO plans to fund the purchase initially with cash and its revolving credit facility, with an expected mid-2026 property sale to retroactively fund the acquisition.\n      \n\n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. CTO Realty Growth Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202603020655PRIMZONEFULLFEED9663828) on March 02, 2026, and is solely responsible for the information contained therein.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}