XML 55 R44.htm IDEA: XBRL DOCUMENT
v3.25.2

LONG-TERM DEBT (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Debt Disclosure [Abstract] |
Schedule of outstanding indebtedness, at face value | As of June 30, 2025, the Company’s outstanding indebtedness, at face value, was as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Face Value Debt |  | Maturity Date |  | Interest Rate |  | Wtd. Avg. Rate
Credit Facility (1) | $ | 224,000 | ​ | January 2027 | ​ | ​ | SOFR + 0.10% + [1.25% - 2.20%] | ​ | ​ | 5.26%
2026 Term Loan (2) | ​ | 65,000 | ​ | March 2026 | ​ | ​ | SOFR + 0.10% + [1.25% - 2.20%] | ​ | ​ | 2.72%
2027 Term Loan (3) | ​ | 100,000 | ​ | January 2027 | ​ | ​ | SOFR + 0.10% + [1.25% - 2.20%] | ​ | ​ | 2.80%
2028 Term Loan (4) | ​ | 100,000 | ​ | January 2028 | ​ | ​ | SOFR + 0.10% + [1.20% - 2.15%] | ​ | ​ | 5.18%
2029 Term Loan (5) | ​ | 100,000 | ​ | September 2029 | ​ | ​ | SOFR + 0.10% + [1.20% - 2.15%] | ​ | ​ | 4.68%
Mortgage Note Payable | ​ | 17,800 | ​ | August 2026 | ​ | ​ | 4.060% | ​ | ​ | 4.06%
Total Long-Term Face Value Debt | $ | 606,800 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 4.44%
(1) | The Company utilized interest rate swaps on $150.0 million of the Credit Facility balance to fix SOFR and achieve a weighted average fixed swap rate of 3.50% plus the 10 bps SOFR adjustment plus the applicable spread. Two interest rate swaps on $100.0 million of the Credit Facility balance were effective on April 30, 2025 at a weighted average fixed swap rate of 3.32% plus the 10 bps SOFR adjustment plus the applicable spread.
(2) The Company utilized interest rate swaps on the $65.0 million 2026 Term Loan balance to fix SOFR and achieve a weighted average fixed swap rate of 1.27% plus the 10 bps SOFR adjustment plus the applicable spread.
(3) | The Company utilized interest rate swaps on the $100.0 million 2027 Term Loan balance to fix SOFR and achieve a fixed swap rate of 1.35% plus the 10 bps SOFR adjustment plus the applicable spread.
(4) | The Company utilized interest rate swaps on the $100.0 million 2028 Term Loan balance to fix SOFR and achieve a weighted average fixed swap rate of 3.78% plus the 10 bps SOFR adjustment plus the applicable spread.
(5) | The Company utilized interest rate swaps on the $100.0 million 2029 Term Loan balance to fix SOFR and achieve a weighted average fixed swap rate of 3.28% plus the 10 bps SOFR adjustment plus the applicable spread.
Schedule of components of long-term debt | Long-term debt consisted of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | June 30, 2025 | ​ | December 31, 2024
​ | Total |  | Due Within One Year |  | Total |  | Due Within One Year
Credit Facility | $ | 224,000 | ​ | $ | — | ​ | $ | 87,000 | ​ | $ | —
2026 Term Loan | ​ | 65,000 | ​ | ​ | 65,000 | ​ | ​ | 65,000 | ​ | ​ | —
2027 Term Loan | ​ | 100,000 | ​ | ​ | — | ​ | ​ | 100,000 | ​ | ​ | —
2028 Term Loan | ​ | 100,000 | ​ | ​ | — | ​ | ​ | 100,000 | ​ | ​ | —
2029 Term Loan | ​ | 100,000 | ​ | ​ | — | ​ | ​ | 100,000 | ​ | ​ | —
3.875% Convertible Senior Notes, net of Discount | ​ | — | ​ | ​ | — | ​ | ​ | 50,989 | ​ | ​ | 50,989
Mortgage Note Payable | ​ | 17,800 | ​ | ​ | — | ​ | ​ | 17,800 | ​ | ​ | —
Financing Costs, net of Accumulated Amortization | ​ | (1,449) | ​ | ​ | — | ​ | ​ | (1,796) | ​ | ​ | —
Total Long-Term Debt | $ | 605,351 | ​ | $ | 65,000 | ​ | $ | 518,993 | ​ | $ | 50,989
Schedule of payments applicable to reduction of principal amounts | ​ Payments applicable to reduction of principal amounts as of June 30, 2025 will be required as follows (in thousands): ​
​ | ​ | ​
As of June 30, 2025 | Amount
Remainder of 2025 | $ | —
2026 | ​ | 82,800
2027 | ​ | 324,000
2028 | ​ | 100,000
2029 | ​ | 100,000
2030 | ​ | —
2031 and Thereafter | ​ | —
Total Long-Term Debt - Face Value | $ | 606,800
Schedule of carrying value of long-term debt | The carrying value of long-term debt as of June 30, 2025 consisted of the following (in thousands): ​
​ | ​ | ​
​ | Total
Current Face Amount | $ | 606,800
Financing Costs, net of Accumulated Amortization | ​ | (1,449)
Total Long-Term Debt | $ | 605,351
Schedule of interest expense on debt | ​ The following table reflects a summary of interest expense incurred and paid during the three and six months ended June 30, 2025 and 2024 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Three Months Ended | ​ | Six Months Ended
​ | June 30, 2025 | ​ | June 30, 2024 | ​ | June 30, 2025 | ​ | June 30, 2024
Interest Expense | $ | 6,542 | ​ | $ | 5,307 | ​ | $ | 12,311 | ​ | $ | 10,540
Amortization of Deferred Financing Costs | ​ | 311 | ​ | ​ | 257 | ​ | ​ | 639 | ​ | ​ | 513
Amortization of Discount on Convertible Notes | ​ | 6 | ​ | ​ | 40 | ​ | ​ | 45 | ​ | ​ | 80
Total Interest Expense | $ | 6,859 | ​ | $ | 5,604 | ​ | $ | 12,995 | ​ | $ | 11,133
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Interest Paid (1) | $ | 7,490 | ​ | $ | 5,903 | ​ | $ | 12,790 | ​ | $ | 10,654
(1) | Net of capitalized interest of $0.1 million during the six months ended June 30, 2024, with no interest being capitalized during the six months ended June 30, 2025.

X
- Definition Tabular disclosure of total interest costs incurred during the period and either capitalized or charged against earnings. + References No definition available. + Details
Name: | cto_InterestExpenseDebtTableTextBlock
Namespace Prefix: | cto_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to carrying amount of long-term debt instruments or arrangements. + References No definition available. + Details
Name: | cto_ScheduleOfCarryingValueOfLongTermDebtInstrumentsTableTextBlock
Namespace Prefix: | cto_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to face amount of long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
Name: | cto_ScheduleOfFaceValuesOfLongTermDebtInstrumentsTableTextBlock
Namespace Prefix: | cto_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-1 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration