GlobeNewswire·Oct 9, 2026, 4:05 PM ET

Alpine Income Property Trust Announces Agreement to Acquire 13-Property Industrial Portfolio for $117.3 Million

Alpine Income Property Trust, Inc. (NYSE: PINE) agreed to acquire a 13-property industrial portfolio for $117.3 million, or $63 per square foot.
The portfolio comprises approximately 1.9 million square feet across 209 acres in 11 states.
All 13 properties are 100% leased to nine tenants under absolute triple-net leases with a weighted average remaining lease term of 10.2 years.
No lease within the portfolio expires before late 2031.
Tenants have operated at their sites for an average of 40 years, with many making significant facility investments.
Approximately 19% of in-place cash rent is from investment-grade tenants or their subsidiaries.
Company President John P. Albright stated the acquisition offers mission-critical facilities at a low basis with strong cash flow growth potential from rent escalators.
The transaction is expected to close in the fourth quarter of 2026, subject to customary conditions.
Funding sources include borrowings under the revolving credit facility, proceeds from select dispositions, & commercial loan repayments.