Alpine Income Property Trust Announces Acquisition of Lowe’s Home Improvement
Alpine Income Property Trust, Inc. (PINE)
Last alpine income property trust, inc. earnings: 4/27 04:22 pm
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Source: GlobeNewswire
WINTER PARK, Fla., Jan. 02, 2025 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company” or “PINE”), an owner and operator of single tenant net leased commercial income properties, today announced the acquisition of a property leased to Lowe’s Home Improvement, and updated fourth quarter and full year 2024 investment and disposition activity. 2024 Investment Activity Completed a $22.5 million purchase of a single-tenant property leased to Lowe’s Home Improvement located in Knoxville, TN in December 2024. The lease has approximately 13 years of remaining term.Lowe’s (S&P rating: BBB+) is now the Company’s second largest tenant based on annual base rent (“ABR”) after Dick’s Sporting Goods (S&P rating: BBB). Full year 2024 investments, including acquisitions and structured investment activity, totaled $134.7 million at a weighted average initial investment yield of 8.7%.Approximately 51% of ABR is from investment grade rated tenants at year end 2024. 2
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News
- Alpine Income Property Trust Announces Acquisition of Lowe's Home Improvement [Yahoo! Finance]Yahoo! Finance
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PINE
Earnings
- 10/17/24 - Beat
PINE
Sec Filings
- 1/3/25 - Form 4
- 11/22/24 - Form 4
- 11/22/24 - Form 4
- PINE's page on the SEC website