Alpine Income Property Trust Announces Agreement to Acquire 13-Property Industrial Portfolio for $117.3 Million
Key Highlights
- ➤$117.3 million agreement adds 13-property industrial portfolio to Alpine Income Property Trust
- ➤Portfolio totals 1.9 million square feet across 11 states
- ➤100% leased to nine tenants under absolute triple-net leases
- ➤10.2-year weighted average remaining lease term, with no expirations before late 2031
- ➤Fourth-quarter 2026 closing planned, funded through revolver borrowings, dispositions, and loan repayments
Expert Statements
John P. Albright, President and Chief Executive Officer of Alpine Income Property Trust
“This acquisition will add a portfolio of mission-critical manufacturing and distribution facilities, at a low basis with 10 years of weighted average lease term remaining”
John P. Albright, President and Chief Executive Officer of Alpine Income Property Trust
“We believe that the investment will deliver an attractive initial yield, and that the annual rent escalators built into the leases will support future cash flow growth.”
WINTER PARK, Fla., Oct. 09, 2026 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the "Company"), an owner and operator of single-tenant net leased commercial income properties, today announced that it has entered into an agreement to acquire a 13-property industrial portfolio for $117.3 million, or $63 per square foot.
The portfolio totals approximately 1.9 million square feet on approximately 209 acres across 11 states. The properties are 100% leased to nine tenants under absolute triple-net leases with a weighted average remaining lease term of 10.2 years, and no lease expires before late 2031. The tenants have operated at their respective sites for an average of approximately 40 years, and many have made significant investments in their facilities. Approximately 19% of in-place cash rent is attributable to tenants that are rated investment grade or are subsidiaries of investment grade rated parents.
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