{"id":1366,"date":"2020-12-15T08:08:31","date_gmt":"2020-12-15T14:08:31","guid":{"rendered":"https:\/\/1reason.com\/re\/alpine-income-property-trust-announces-acquisition-of-single-tenant-property-net-leased-to-dollar-general\/1366\/"},"modified":"2020-12-16T02:08:31","modified_gmt":"2020-12-16T08:08:31","slug":"alpine-income-property-trust-announces-acquisition-of-single-tenant-property-net-leased-to-dollar-general","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/alpine-income-property-trust-announces-acquisition-of-single-tenant-property-net-leased-to-dollar-general\/1366\/","title":{"rendered":"Alpine Income Property Trust Announces Acquisition of Single Tenant Property Net Leased to Dollar General"},"content":{"rendered":"
The lease is guaranteed by the investment grade rated Dollar General parent entity. The property was purchased for approximately $1.9 million, representing a going-in cap rate consistent with the Company\u2019s guidance and past transactions, and has approximately 14.8 years remaining on the initial lease term. <\/p>\n

Including the new Acquisition, the Company\u2019s portfolio now consists of 46 properties located in 33 markets and 17 states across 18 industries, with a weighted average remaining lease term of 8.5 years. The Company has acquired $101.2 million of single tenant net leased properties year-to-date, with a weighted average going-in cap rate of 6.9%.<\/p>\n

About Alpine Income Property Trust, Inc.<\/u><\/strong><\/p>\n

Alpine Income Property Trust, Inc. (NYSE: PINE) is a publicly traded real estate investment trust that acquires, owns and operates a portfolio of high-quality single-tenant net leased commercial income properties.<\/p>\n

We encourage you to review our most recent investor presentation which is available on our website at http:\/\/www.alpinereit.com<\/u><\/a>.<\/p>\n

Safe Harbor<\/u><\/strong><\/p>\n

This press release may contain \u201cforward-looking statements.\u201d Forward-looking statements include statements that may be identified by words such as \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, illiquidity of real estate investments and potential damages from natural disasters, the impact of the COVID-19 Pandemic on the Company\u2019s business and the business of its tenants and the impact 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, 2019 and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2020. 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\n\n
Contact:<\/td>\nMatthew M. Partridge
Senior Vice President, Chief Financial Officer & Treasurer
(386) 944-5643
mpartridge@alpinereit.com<\/a><\/td>\n<\/tr>\n<\/table>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

\n

DAYTONA BEACH, Fla., Nov. 10, 2020 (GLOBE NEWSWIRE) — Alpine Income Property Trust, Inc. (NYSE: PINE) (the \u201cCompany\u201d) announced today it has acquired a single tenant net leased income property located in Kermit, Texas and leased to Dollar General (the \u201cAcquisition\u201d).<\/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\/1366"}],"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=1366"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/1366\/revisions"}],"predecessor-version":[{"id":1471,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/1366\/revisions\/1471"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=1366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=1366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=1366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}