WINTER PARK, Fla., Oct. 15, 2025 (GLOBE NEWSWIRE) — Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company”), a publicly traded real estate investment trust that owns and operates a portfolio of single tenant net leased commercial income properties, today announced the origination of a first mortgage loan investment secured by a luxury residential development with over 130 lots located in the Austin, Texas metropolitan area. At closing, the Company funded $14.1 million of a phase one loan, with a total commitment for the phase one loan of up to $29.5 million. The Company anticipates funding the remainder of the phase one loan prior to the end of 2025, subject to the borrower’s satisfaction of certain conditions. Additionally, the loan agreement provides for a phase two loan with a total commitment of up to $31.8 million. The Company’s funding of loan commitments under the phase two loan is subject to the borrower’s satisfaction of certain conditions, which the Company currently anticipates will be satisfied in early 2026.
The interest rate for all amounts funded under both the phase one and phase two loans, commencing at the initial phase one origination, is 17.0%, inclusive of 4.0% paid-in-kind for the full loan term, and steps down to 16.0% during months 7 to 12, and to 14.0% thereafter. The 36-month loan will be repaid as collateralized home lots are sold, with such sales anticipated to begin in late 2025.
“This first mortgage loan on luxury residential lots in the Austin area enables us to partner with a premier sponsor at an attractive yield,” said John P. Albright, President and Chief Executive Officer of Alpine Income Property Trust. “It also reflects our proactive approach to capital redeployment related to anticipated proceeds from late 2025 and anticipated 2026 investment maturities, which we believe will help to ensure continuity in earnings. Further, we believe that the strong inbound interest we have seen from potential institutional partners seeking to purchase a senior tranche of this investment highlights the appeal of this opportunity, and we currently anticipate participating out a portion of this note to further enhance our yield.”
About Alpine Income Property Trust, Inc.
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 predominantly leased to high-quality publicly traded and credit-rated tenants.
We encourage you to review our most recent investor presentation which is available on our website at http://www.alpinereit.com.
Safe Harbor
This press release contains “forward-looking statements.” Forward-looking statements include statements that may be identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “potential,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. Statements, among others, relating to the Company’s anticipated future fundings (including the borrower’s anticipated satisfaction of certain conditions to those future fundings), repayment of the loan as collateralized home lots are sold with such sales anticipated to begin in late 2025, the yield of the loan, anticipated proceeds from late 2025 and anticipated 2026 investment maturities, and the Company potentially participating out a portion of this note to further enhance yield are forward-looking statements. Forward-looking statements are based on the Company’s current expectations and assumptions regarding capital market conditions, the Company’s business, the economy, the ability of the borrower to satisfy certain conditions 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’s 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, volatility and uncertainty in the credit markets and broader financial markets, tariffs and international trade policies, risks inherent in the real estate business, including tenant defaults, potential liability relating to environmental matters, credit risk associated with the Company investing in commercial loans and investments, illiquidity of real estate investments and potential damages from natural disasters, the impact of epidemics or pandemics on the Company’s business and the businesses of its tenants and borrowers and the impact of such epidemics or pandemics on the U.S. economy and market conditions generally, other factors affecting the Company’s business or the businesses of its tenants or borrowers that are beyond the control of the Company or its tenants or borrowers, and the factors set forth under “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025 and other risks and uncertainties discussed from time to time in the Company’s 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 update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
CONTACT: Contact: Investor Relations ir@alpinereit.com
