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  "documentTitle": "CTO Realty Growth, Inc. (CTO)",
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      "text": "So, instead of telling investors that the Food Hall was defaulting, costing CTO $1.5 million in capex in the process, management was able to boast to investors that it was increasing rent for a top tenant.",
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      "text": "So, instead of telling investors that the Food Hall was defaulting... management was able to boast to investors that it was increasing rent... \"everything has been very strong there.\"",
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      "text": "Instead, management proceeded with a plan that would keep investors in the dark... CTO provided a $1.5 million \"loan\" to the tenant... CTO also increased the annual nominal rent owed by the tenant to $877,000.",
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      "kind": "paragraph",
      "text": "What was CTO's management telling investors at this time? In October 2021... management was telling analysts that they were looking for an end of the year opening, as in end of the year 2021.",
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      "kind": "paragraph",
      "text": "Materialman's and Mechanic's Claim of Lien... Mid-South Subcontractors, Inc. ... claims a lien in the amount of $14,120.00",
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      "text": "We think the primary reason they did not end up following through on terminating the Food Hall was that WeWork... was abandoning their lease at the Shops at Legacy.",
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      "kind": "paragraph",
      "text": "They might not have known about the full extent of these unpaid bills in 2021, but before the Q4 2021 call on February 25th, management certainly knew... including a $635k lien from their main contractor.",
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      "kind": "paragraph",
      "text": "According to a confidential source, CTO's executives... were aware of these liens... Two days later, in the Q4 2021 earnings call on February 25, 2022, management said that the Food Hall was slated to open in that year.",
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      "kind": "quote",
      "text": "So I'll give you a little bit of background on the food hall... they're looking at more end of the year opening [2021]... CTO's CEO on Q3 2021 Earnings Call, October, 29",
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      "text": "So I'll give you a little bit of background on the food hall as far as where they are just as an opportunity...So they're looking at more end of the year opening [2021] and when we sign this up, we thought it was going to be summer of this year, so a couple of months ago. And so, but they're making very good progress there about 80% built out. — CTO's CEO on Q3 2021 Earnings Call, October, 29",
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