CTO Realty Growth, Inc. (NYSE:CTO) Q2 2022 Earnings Conference Call July 29, 2022 9:00 AM ET

Company Participants

John Albright - President and Chief Executive Officer

Matthew Partridge - Senior Vice President and Chief Financial Officer

Conference Call Participants

Gaurav Mehta - EF Hutton

Robert Stevenson - Janney Montgomery Scott, LLC

Michael Gorman - BTIG, LLC

Matthew Erdner - JonesTrading

Richard Milligan - Raymond James & Associates, Inc.

Operator

Hello. Thank you for standing by, and welcome to the CTO Realty Growth Second Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Matt Partridge, Chief Financial Officer. Please go ahead.

Matthew Partridge

Good morning, everyone, and thank you for joining us today for the CTO Realty Growth second quarter 2022 operating results conference call. With me today is our CEO and President, John Albright.

Before we begin, I'd like to remind everyone that many of our comments today are considered forward-looking statements under federal securities law. The Company's actual future results may differ significantly from the matters discussed in these forward-looking statements, and we undertake no duty to update these statements.

Factors and risks that could cause actual results to differ materially from expectations are disclosed from time to time in greater detail in the Company's Form 10-K, Form 10-Q, and other SEC filings. You can find our SEC reports, earnings release, supplemental and most recent investor presentation on our website at ctoreit.com.

With that, I will now turn the call over to John.

John Albright

Thanks, Matt, and good morning, everyone. We've had a productive few months since our last quarter's earnings call making progress on a number of operational initiatives and continuing to accretively grow the company through a combination of high-quality acquisitions and attractive structured investments that provide strong risk adjusted returns.

During the quarter, we entered into a $30 million preferred equity investment in Watters Creek. As we spoke about during our last earnings call, there is a terrific grocery-anchored retail property that's being repositioned by the sponsor into a premier lifestyle center just outside of Dallas in Allen, Texas. We also opportunistically originated $19 million construction loan on the retail portion of WaterStar in Orlando, as part of our structured investments program.