CTO Realty Grows Atlanta Footprint With $80M Buy of 559k SF retail center, Ashley Park; acquisition brings firm’s national portfolio to more than 5M SF

3/4/2025

|

CPE

• Subcategory: Retail: Shopping

• Tag: Sale

• Additional Filters-Subcategory: Retail: Lifestyle Centers

• Additional Filters-Tags: Sale: Investment, Sale: Single Property

• Company: Apollo Global Management Inc. (NYSE: APO)

CTO Realty Growth has purchased Ashley Park, a 559,000-square-foot retail center in Newnan, Ga., for $79.8 million. The previous owner was Apollo Global Management, which had bought it for $89.8 million in 2015, according to CommercialEdge information.

CTO acquired Ashley Park below replacement costs, President & CEO John Albright said in prepared remarks. Having below-market rents, the asset provides an opportunity for strategic lease-up, he added.