PINE News & Events

Alpine Income Property acquired a 6,529-square foot retail property in downtown Aspen, Colorado for $10.0M at an initial cap rate of 8.5% with 1.25% annual escalators. The acquisition was structured as a 50-year absolute triple net master lease with an established commercial real estate firm that specializes in retail project leasing. The property benefits from an average household income of $187,000 within a five-mile radius.

Alpine Income Property Trust announced its investment and disposition activities for the full fourth quarter and full year 2025. During Q4 and FY25, the Company completed the following transactions: Investments: Since the prior transaction update on December 1, the Company originated two new structured investments totaling $33.5M in loan commitments at a weighted average initial cash yield of 12%. $20M first mortgage loan, fully funded at close, with an initial yield of 12%, secured by a mixed-use development in Fairfax Country, Virginia. $13.5M first mortgage loan commitment with an initial yield of 12%, secured by a mixed-use redevelopment in Denver, Colorado. Total Q4 investment activity includes $142.1M of acquisitions and structured investment transactions representing a weighted average initial cash yield of 11.7%. FY25 investment activity includes $277.7M of acquisitions and structured investment transactions representing a weighted average initial cash yield of 10.3% and setting a new annual record. Dispositions: Since the prior transaction update on December 1, the Company sold five net lease properties for an aggregate sale price of $15.3M at a weighted average exit cash cap rate of 8.1%, leased to O'Reilly Auto Parts, Family Dollar, Chipotle, and Walgreens. Total Q4 disposition activity of $48.4M, including $38.4M of income-producing asset sales at a weighted average exit cash cap rate of 7.7% and one $10M structured investment participation interest sale. FY25 disposition activity of $82.8M, including $67.5M of income-producing asset sales at a weighted average exit cash cap rate of 8%, $5.3M of vacant properties and one $10M structured investment participation interest. As of December 31, the Company's property portfolio was 99.4% occupied, with a weighted average remaining lease term of 8.4 years, and with 51% of annualized base rent attributable to investment grade rated tenants.

Alpine Income Property announced the $20.7M acquisition of three separately parceled properties located on 14 total acres in Richmond, Virginia. The Properties, totaling 177,441 square feet, are fully leased and anchored by a Walmart Supercenter situated on an 8-acre ground lease. The acquisition also includes a four-tenant, triple-net-leased building anchored by TJ Maxx and an additional ground leased outparcel. With this acquisition, Walmart becomes the company's fourth largest tenant. The acquisition also introduces the company's first TJ Maxx-branded store within its portfolio. Following this transaction, approximately 50% of the company's annualized base rent is now attributable to investment-grade rated tenants.