CTO Realty Growth Announces Purchase of 106,000 Square Foot Grocery-Anchored Retail Property in Hialeah, Florida for $21 Million

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DAYTONA BEACH, Fla., Sep 28, 2020 (GLOBE NEWSWIRE via COMTEX) —
CTO Realty Growth (NYSE American: CTO) (the “Company”) today announced the acquisition of an approximately 108,000 square foot retail property in Hialeah, Florida (the “Property”) for $21 million, or approximately $194 per square foot. The Property is situated on approximately 8 acres and is master-leased to a national retail developer (“Master Tenant”). The property, which serves a 3-mile population of over 225,000, is occupied by Aldi, Ross Dress for Less (S&P rated: BBB+), Bed, Bath & Beyond and dd’s Discount (S&P rated: BBB+). The 25-year master lease has an initial investment yield within the range of the 2020 Guidance and includes annual rental rate escalations as well as certain future purchase rights by the Master Tenant. The transaction was purchased through a 1031 like-kind exchange using

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Your Roth IRA can help fund a home purchase. Here are pros and cons

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You probably know a Roth individual retirement account is one way to save for your post-working years. 

It also may come in handy for certain homebuyers.

Basically, up to $10,000 in Roth IRA earnings can be withdrawn — free of both taxes and penalty — for a home purchase if you meet certain requirements. That’s in addition to being allowed to withdraw your direct contributions at any time, because you already paid taxes on that money.

As home prices continue their upward trajectory, the amount of cash needed to purchase one continues to rise, as well. While it’s possible to buy a house with less than 20% down — the average is 12% overall and 6% for first-time buyers — going that route also might mean paying private mortgage insurance, or PMI, until your equity is at least 20% of the home’s value. PMI can

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