Alpine Income Property Trust Boosts Investment Strategy in 2024

Alpine Income Property Trust Enhances Investment Strategy

Alpine Income Property Trust, Inc. (NYSE: PINE) recently shared exciting news regarding its investment and disposition activities as part of its ongoing focus on growth. As a leading player in the field of single-tenant net leased commercial properties, the Company has made significant strides in its real estate strategy during the fourth quarter of 2024.

2024 Investment Activity Highlights

This year, Alpine Income Property Trust has been actively increasing its portfolio with impressive acquisitions. In November, the Company successfully completed a notable $28 million acquisition of a portfolio comprising five single-tenant properties, all anchored by BJ’s Wholesale Club in a thriving market. This strategic purchase is located near a well-known retail hub, enhancing their position in the commercial real estate sector.

Significant Portfolio Investments

With this acquisition, the greater Charlotte area now proudly ranks among Alpine's top five markets based on annual Abbreviated Base Rent (ABR). This notable expansion exemplifies the Company's commitment to identifying lucrative investment opportunities that align with its strategic goals.

As of now, Alpine’s total investment activity for the year has reached an impressive $112.2 million, boasting a weighted average initial investment yield of 9.3%. This performance not only highlights the Company’s savvy investment acumen but also underscores its proactive approach in adapting to market demands.

2024 Disposition Activity Updates

On the other side, the Company has also been strategic in its disposition activities. In October, Alpine announced the sale of two former Mountain Express convenience stores for a total of $1.4 million. This ongoing process of evaluating and managing property sales has resulted in a year-to-date disposition volume of $70.2 million, achieved at a weighted average exit cash cap rate of 7.1%. These moves illustrate the Company’s skill in optimizing its asset portfolio economically.

Understanding Alpine Income Property Trust

Alpine Income Property Trust, Inc. (NYSE: PINE) stands out as a publicly traded real estate investment trust (REIT) dedicated to generating robust risk-adjusted returns. The Company's primary strategy involves investing in, owning, and operating a selection of single-tenant net leased commercial properties. Furthermore, these properties are predominantly leased to high-quality public companies and credit-rated tenants, showcasing a solid foundation of stability and reliability.

Looking Ahead in 2024

As Alpine Income Property Trust moves forward into 2024, the Company appears well-positioned to continue its growth trajectory. With strategic acquisitions and a focused approach to dispositions, it is enhancing its portfolio's overall performance while seeking new opportunities for expansion. Investors can look forward to the potential benefits arising from Alpine’s strategic initiative in the coming year.

Contact Information for Alpine Income Property Trust

For further inquiries regarding Alpine’s activities, individuals can reach out to:

Philip R. Mays
Senior Vice President, Chief Financial Officer and Treasurer
(407) 904-3324
Email: pmays@alpinereit.com

Frequently Asked Questions

What is Alpine Income Property Trust's focus as a company?

Alpine Income Property Trust focuses on investing in, owning, and operating single-tenant net leased commercial properties primarily leased to high-quality publicly traded and credit-rated tenants.

What notable acquisition did Alpine complete in November 2024?

In November 2024, Alpine completed a $28 million purchase of a portfolio consisting of five single-tenant properties anchored by BJ’s Wholesale Club in the Charlotte area.

How much investment activity has Alpine achieved year-to-date in 2024?

As of 2024, Alpine's total investment activity has totaled $112.2 million, with a weighted average initial investment yield of 9.3%.

What recent disposition activities has Alpine conducted?

In October 2024, Alpine sold two former Mountain Express convenience stores for $1.4 million, contributing to a year-to-date disposition volume of $70.2 million.

Where can I find more information about Alpine Income Property Trust?

For additional details regarding Alpine's strategies, investments, or financial metrics, interested parties can contact their chief financial officer or access their filings with the U.S. Securities and Exchange Commission.

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