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        <link:definition>41701 - Disclosure - SUBSEQUENT EVENTS - COVID-19 Pandemic (Details)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>41702 - Disclosure - SUBSEQUENT EVENTS - Income Property Acquisitions (Details)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.ctlc.com/role/StatementConsolidatedBalanceSheetsParenthetical" id="StatementConsolidatedBalanceSheetsParenthetical">
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        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>00405 - Statement - CONSOLIDATED COMBINED STATEMENTS OF SHAREHOLDERS&#x2019; EQUITY (Parenthetical)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>10101 - Disclosure - BUSINESS AND ORGANIZATION</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>10201 - Disclosure - BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>10301 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.ctlc.com/role/DisclosureIncomePropertyPortfolio" id="DisclosureIncomePropertyPortfolio">
        <link:definition>10401 - Disclosure - INCOME PROPERTY PORTFOLIO</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.ctlc.com/role/DisclosureFairValueOfFinancialInstruments" id="DisclosureFairValueOfFinancialInstruments">
        <link:definition>10501 - Disclosure - FAIR VALUE OF FINANCIAL INSTRUMENTS</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>10601 - Disclosure - INTANGIBLE ASSETS AND LIABILITIES</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.ctlc.com/role/DisclosureOtherAssets" id="DisclosureOtherAssets">
        <link:definition>10701 - Disclosure - OTHER ASSETS</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.ctlc.com/role/DisclosureAccountsPayableAccruedExpensesAndOtherLiabilities" id="DisclosureAccountsPayableAccruedExpensesAndOtherLiabilities">
        <link:definition>10801 - Disclosure - ACCOUNTS PAYABLE, ACCRUED EXPENSES, AND OTHER LIABILITIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.ctlc.com/role/DisclosureLongTermDebt" id="DisclosureLongTermDebt">
        <link:definition>10901 - Disclosure - LONG-TERM DEBT</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.ctlc.com/role/DisclosureInterestRateSwap" id="DisclosureInterestRateSwap">
        <link:definition>11001 - Disclosure - INTEREST RATE SWAP</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.ctlc.com/role/DisclosureEquity" id="DisclosureEquity">
        <link:definition>11101 - Disclosure - EQUITY</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.ctlc.com/role/DisclosureCommonStockAndEarningsPerShare" id="DisclosureCommonStockAndEarningsPerShare">
        <link:definition>11201 - Disclosure - COMMON STOCK AND EARNINGS PER SHARE</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.ctlc.com/role/DisclosureShareRepurchases" id="DisclosureShareRepurchases">
        <link:definition>11301 - Disclosure - SHARE REPURCHASES</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>11401 - Disclosure - STOCK-BASED COMPENSATION</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>11501 - Disclosure - RELATED PARTY MANAGEMENT COMPANY</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>11601 - Disclosure - COMMITMENTS AND CONTINGENCIES</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>11701 - Disclosure - SUBSEQUENT EVENTS</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>20302 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.ctlc.com/role/DisclosureIncomePropertyPortfolioTables" id="DisclosureIncomePropertyPortfolioTables">
        <link:definition>30403 - Disclosure - INCOME PROPERTY PORTFOLIO (Tables)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>30503 - Disclosure - FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>30603 - Disclosure - INTANGIBLE ASSETS AND LIABILITIES (Tables)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.ctlc.com/role/DisclosureAccountsPayableAccruedExpensesAndOtherLiabilitiesTables" id="DisclosureAccountsPayableAccruedExpensesAndOtherLiabilitiesTables">
        <link:definition>30803 - Disclosure - ACCOUNTS PAYABLE, ACCRUED EXPENSES, AND OTHER LIABILITIES (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>30903 - Disclosure - LONG-TERM DEBT (Tables)</link:definition>
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        <link:definition>31203 - Disclosure - COMMON STOCK AND EARNINGS PER SHARE (Tables)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.ctlc.com/role/DisclosureRelatedPartyManagementCompanyTables" id="DisclosureRelatedPartyManagementCompanyTables">
        <link:definition>31503 - Disclosure - RELATED PARTY MANAGEMENT COMPANY (Tables)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>40201 - Disclosure - BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION (Details)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.ctlc.com/role/DisclosureSummaryOfSignificantAccountingPoliciesGeneralInformationDetails" id="DisclosureSummaryOfSignificantAccountingPoliciesGeneralInformationDetails">
        <link:definition>40301 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - General Information (Details)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>40305 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recently Issued Accounting Standards - Practical Expedients (Details)</link:definition>
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        <link:definition>40401 - Disclosure - INCOME PROPERTY PORTFOLIO - Portfolio Information (Details)</link:definition>
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</schema>
