{"id":13107,"date":"2024-12-09T19:00:53","date_gmt":"2024-12-10T01:00:53","guid":{"rendered":"https:\/\/1reason.com\/re\/alpine-income-property-trust-announces-fourth-quarter-investment-activity\/13107\/"},"modified":"2024-12-10T13:00:53","modified_gmt":"2024-12-10T19:00:53","slug":"alpine-income-property-trust-announces-fourth-quarter-investment-activity","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/alpine-income-property-trust-announces-fourth-quarter-investment-activity\/13107\/","title":{"rendered":"Alpine Income Property Trust Announces Fourth Quarter Investment Activity"},"content":{"rendered":"<div>\n<p align=\"justify\"><strong>2024 Investment Activity<\/strong><\/p>\n<ul>\n<li style=\"text-align:justify\">In November 2024, the Company completed a $28 million purchase of a portfolio of 5 single-tenant properties anchored by BJ\u2019s Wholesale Club, all of which are located in the greater Charlotte, North Carolina area. The portfolio is located near the 1.4 million square foot Concord Mills mall. With the addition of this investment, Charlotte, North Carolina now enters PINE\u2019s top 5 markets based on annual ABR.<\/li>\n<li style=\"text-align:justify\">The Company\u2019s year-to-date total investment activity, including acquisitions and structured investment activity, now totals $112.2 million at a weighted average initial investment yield of 9.3%, exceeding the high end of investment activity given with the third quarter reporting.<\/li>\n<\/ul>\n<p align=\"justify\"><strong>2024 Disposition Activity<\/strong><\/p>\n<ul>\n<li style=\"text-align:justify\">In October 2024, the Company sold two former Mountain Express convenience stores for a total of $1.4 million.<\/li>\n<li style=\"text-align:justify\">The Company\u2019s year-to-date disposition volume, inclusive of property and structured investment sales, now totals $70.2 million at a weighted average exit cash cap rate of 7.1%.<\/li>\n<\/ul>\n<p align=\"justify\"><strong><u>About Alpine Income Property Trust, Inc.<\/u><\/strong><\/p>\n<p align=\"justify\">Alpine Income Property Trust, Inc. (NYSE: PINE) is a publicly traded real estate investment trust that seeks to deliver attractive risk-adjusted returns and dependable cash dividends by investing in, owning and operating a portfolio of single tenant net leased commercial income properties that are predominately leased to high-quality publicly traded and credit-rated tenants.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:10%;width:10%;min-width:10%;vertical-align: top\">Contact:<\/td>\n<td style=\"max-width:90%;width:90%;min-width:90%;vertical-align: top\">Philip R. Mays<br \/>Senior Vice President, Chief Financial Officer and Treasurer<br \/>(407) 904-3324<br \/><a href=\"mailto:pmays@alpinereit.com\" rel=\"nofollow noopener\" target=\"_blank\" title=\"pmays@alpinereit.com\">pmays@alpinereit.com<\/a><\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\" \/>\n<td style=\"vertical-align: top\" \/><\/tr>\n<\/table>\n<p align=\"justify\"><strong><u>Safe Harbor<\/u><\/strong><\/p>\n<p align=\"justify\">This press release may contain \u201cforward-looking statements.\u201d Forward-looking statements include statements that may be identified by words such as \u201ccontinued,\u201d \u201ccould,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201cwill,\u201d \u201clikely,\u201d \u201canticipates,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cseeks,\u201d \u201cbelieves,\u201d \u201cestimates,\u201d \u201cexpects,\u201d \u201ccontinues,\u201d \u201cprojects\u201d and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on the Company\u2019s current expectations and assumptions regarding capital market conditions, the Company\u2019s business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company\u2019s actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include general business and economic conditions, continued volatility and uncertainty in the credit markets and broader financial markets, risks inherent in the real estate business, including tenant defaults, potential liability relating to environmental matters, credit risk associated with the Company investing in first mortgage investments, illiquidity of real estate investments and potential damages from natural disasters, the impact of epidemics or pandemics (such as the COVID-19 Pandemic and its variants) on the Company\u2019s business and the business of its tenants and the impact of such epidemics or pandemics on the U.S. economy and market conditions generally, other factors affecting the Company\u2019s business or the business of its tenants that are beyond the control of the Company or its tenants, and the factors set forth under \u201cRisk Factors\u201d in the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2023 and other risks and uncertainties discussed from time to time in the Company\u2019s filings with the U.S. Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.<\/p>\n<p><img src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-src=\"https:\/\/ml.globenewswire.com\/media\/MTIyNjg4YjAtOWE5My00NjkxLWE4YzgtOTdiNTAwZmY5OTQzLTUwMDA2OTQ4Ng==\/tiny\/Alpine-Income-Property-Trust.png\"><\/div>\n","protected":false},"excerpt":{"rendered":"<div>\n<p align=\"justify\">WINTER PARK, Fla., Nov. 12, 2024 (GLOBE NEWSWIRE) &#8212; Alpine Income Property Trust, Inc. (NYSE: PINE) (the \u201cCompany\u201d or \u201cPINE\u201d), an owner and operator of single tenant net leased commercial income properties, today announced updated fourth quarter and year-to-date 2024 investment and disposition activities.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/13107"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=13107"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/13107\/revisions"}],"predecessor-version":[{"id":13185,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/13107\/revisions\/13185"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=13107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=13107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=13107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}