CTO Realty Growth, Inc. (NYSE: CTO) closed a $1.0 billion amended and restated unsecured credit facility on Sept. 30, 2026, replacing its previous $300 million revolving credit facility and two existing term loans.

The new facility consists of a $400 million revolving credit facility due September 2030, a $150 million term loan due September 2029, a $150 million term loan due September 2030, a new $150 million term loan due September 2031, and a new $150 million term loan due March 2032. The two existing term loans were upsized from $125 million each.

The transaction increases the weighted average maturity of the company's outstanding debt to 4.3 years from 1.6 years, excluding extension options. Proceeds were used to repay borrowings under the prior revolving credit facility, a $100 million term loan due January 2027, and a $100 million term loan due January 2028.

At closing, the company applied SOFR swaps to the term loans, producing initial fixed interest rates of 5.3% for the 2029 term loan, 4.9% for the 2030 term loan, 4.8% for the 2031 term loan, and 3.4% for the 2032 term loan. The fixed rate on the 2032 term loan is set to adjust to approximately 5.3% in February 2027.

KeyBank National Association served as administrative agent for the syndicate of banks. Co-syndication agents included Bank of America, N.A., The Huntington National Bank, PNC Bank, Regions Bank, Truist Bank, and Wells Fargo Bank, N.A.

"The new Credit Facility extends our debt maturity profile and increases total commitments by $250 million, providing additional capacity to fund the ongoing growth of our high-quality, open-air shopping center portfolio," said Philip R. Mays, Senior Vice President, Chief Financial Officer and Treasurer of CTO Realty Growth.