Alpine Income Property Trust Announces First Quarter 2025 Transaction Activity and Balance Sheet Update

About this update from Alpine Income Property Trust, Inc.

[{"type":"image","alt":"Alpine Income Property Trust","displaySize":"","headline":null,"caption":"Alpine Income Property Trust","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":108,"url":"https://media.zenfs.com/en/globenewswire.com/629346ca42470f5e2a600c5b1264d178"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/dWr.KNZXmz6Tg2tl7oVpaA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTE1MTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/629346ca42470f5e2a600c5b1264d178","width":300,"height":108}},"lazy":false},{"type":"text","content":"WINTER PARK, Fla., April 02, 2025 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company”) today announced its investment and disposition activities for the first quarter of 2025 and provided a balance sheet update.","length":242,"tagName":"p"},{"type":"text","content":"Investment and Disposition Activity ","length":35,"tagName":"p"},{"type":"text","content":"The Company’s total investment activity during the first quarter of 2025 includes $79.2 million of acquisition and structured investment transactions representing a weighted average initial investment yield of 9.0%. The Company’s disposition activity includes $11.7 million of asset sales representing a weighted average exit cash cap rate of 9.1%. The Company’s weighted average lease term increased to 9.0 years as of March 31, 2025. Details are as follows:","length":459,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Acquired three net lease properties for $39.7 million, representing a weighted average going-in cash cap rate of 8.6% and a weighted average remaining lease term of 14.3 years. The acquisitions are located in three states and are net leased to three tenants: Academy Sports, GermFree, and Alamo Drafthouse (a subsidiary of Sony Group Entertainment, rated A- by S&P).","length":370,"tagName":"p"}]},{"val":[{"type":"text","content":"Originated one seller financing structured investment in conjunction with the disposition of a property in Canton, Ohio leased to At Home, and originated a new construction loan, representing $21.7 million of principal with a current balance of $12.6 million at a weighted average initial yield of 9.6%.","length":303,"tagName":"p"}]},{"val":[{"type":"text","content":"Amended four existing structured investments: A construction loan secured by a Pu...

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