Alpine Income Property Trust Secures $14.1 Million Mortgage Loan

Alpine Income Property Trust Makes Strategic Mortgage Investment
WINTER PARK, Fla. – Alpine Income Property Trust, Inc. (NYSE: PINE), a well-known real estate investment trust, has recently announced a significant investment by originating a first mortgage loan. The loan investment, amounting to $14.1 million, is secured by a luxury residential development featuring over 130 lots in a promising metropolitan area.
The Details of the Loan Agreement
At the closing, Alpine Income Property Trust funded the initial amount of the first phase loan, which has a total commitment of up to $29.5 million. The company plans to complete the remaining contributions for this phase before the end of the year, pending necessary borrower conditions. Furthermore, the loan agreement includes provisions for a second phase, with a total commitment of up to $31.8 million, expected to follow the same conditional requirements that Alpine anticipates will be satisfied in early 2026.
Interest Rates and Loan Structure Explained
The interest rate associated with the loans is set at 17.0% at inception, inclusive of a 4.0% paid-in-kind element. This rate is planned to decrease to 16.0% during months seven through twelve, and further down to 14.0% as the investment matures. Over a term of 36 months, the loan is structured to be repaid as the residential lots are sold, with these sales expected to commence in late 2025 in alignment with market conditions.
Leadership Insight
John P. Albright, President and CEO of Alpine Income Property Trust, expressed enthusiasm regarding this investment. He stated, “This first mortgage loan provides us with the opportunity to collaborate with a prominent sponsor while achieving an attractive yield. It aligns with our strategic plan for capital redeployment aimed at ensuring continuity of earnings as we approach anticipated returns from 2025 and upcoming investment maturities.” Albright also highlighted the strong interest from potential institutional partners seeking to purchase a senior tranche of this investment, reflecting the opportunity's appeal.
About Alpine Income Property Trust, Inc.
Alpine Income Property Trust, Inc. (NYSE: PINE) is dedicated to providing impressive risk-adjusted returns and reliable cash dividends through its investment in, ownership of, and operation of a portfolio of single tenant net leased commercial properties. These properties are mainly leased to high-quality publicly traded and credit-rated tenants, showcasing a sustainable investment strategy.
Frequently Asked Questions
What type of properties does Alpine Income Property Trust invest in?
Alpine Income Property Trust focuses primarily on single tenant net leased commercial properties, ensuring consistent rental income.
What was the total commitment for the mortgage loan?
The total commitment for the mortgage loan is $29.5 million for the first phase and an additional $31.8 million for the second phase.
Who is the CEO of Alpine Income Property Trust?
John P. Albright serves as the President and Chief Executive Officer of Alpine Income Property Trust.
When are the residential lots expected to be sold?
The sale of residential lots is anticipated to begin in late 2025 as part of the repayment strategy for the loan.
What is the interest rate structure for the loan?
The loan starts at an interest rate of 17.0%, reducing to 16.0% and then to 14.0% over specified periods.
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