Alpine Income Property Trust Announces Sale of a Senior Portion of First Mortgage Loan Investment
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., June 03, 2024 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company” or “PINE”) announced today that it has sold a $13.6 million A-1 participation interest (the “Loan Participation Sale”) in its $23.4 million loan investment (the “Portfolio Loan”). The Portfolio Loan is secured by a first mortgage on a portfolio (the “Loan Collateral”) that currently consists of 39 retail properties. As part of the transaction, the Company had the Portfolio Loan rated by an independent rating agency whereby it received an A- rating. PINE originated the Portfolio Loan in November 2023 as a $24.0 million loan at a rate of 8.75%, with the Loan Collateral consisting of 41 retail properties. As of June 3, 2024, two properties within the portfolio have been sold, resulting in principal paydowns that have reduced the overall loan balance to approximately $23.4 million. After adjusting for the Loan Participation Sale, PINE’s remaining investment in the Portfol
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News
- Alpine Income (PINE) Provides Year-to-Date Transaction Updates [Yahoo! Finance]Yahoo! Finance
- Alpine Income Property Trust Announces Year-To-Date 2024 Transaction Activity [Yahoo! Finance]Yahoo! Finance
- Alpine Income Property Trust Announces Year-To-Date 2024 Transaction ActivityGlobeNewswire
- 3 Small Cap REITs Poised To Profit [Seeking Alpha]Seeking Alpha
- Neutral View On Alpine Income Property Trust As There Are Better Alternatives [Seeking Alpha]Seeking Alpha
PINE
Earnings
- 4/18/24 - Beat
PINE
Sec Filings
- 6/18/24 - Form 3
- 6/17/24 - Form 4
- 5/31/24 - Form 8-K
- PINE's page on the SEC website