 DAYTONA BEACH, Fla., Feb. 01, 2021 GLOBE NEWSWIRE -- CTO Realty Growth, Inc. CTO today announced the completion of the merger of CTO with and into CTO NEWCO REIT, Inc., a wholly owned subsidiary of CTO the Merger. The Merger was undertaken in connection with CTOs previously announced plan for CTO to elect to be subject to tax as a real estate investment trust REIT for U.S. federal income tax purposes commencing with its taxable year ended December 31, 2020. 