CTO Realty Growth closes $1 billion amended unsecured credit facility led by KeyBank
CTO•CTO Realty Growth closed a $1 billion amended and restated unsecured credit facility, increasing total commitments by $250 million. The package includes a $400 million revolver due September 2030 and term loans maturing from September 2029 through March 2032.
1. Facility details
The facility refinanced the company’s prior $300 million revolver and two term loans of $100 million each, due in January 2027 and January 2028. Borrowings are priced at SOFR plus a leverage-based spread; CTO fixed initial term-loan rates from 3.4% to 5.3% through swaps.
