Alpine Income to Acquire $117M Industrial Portfolio, Adding 1.9M Sq Ft
PINE sits 37% above its 52-week low of $13.1.
Summary
Alpine Income Property Trust agreed to acquire a 13-property industrial portfolio for $117.3 million, or $63 per square foot. The portfolio spans 1.9 million square feet across 11 states, is 100% leased to nine tenants under absolute triple-net leases, and carries a weighted average remaining lease term of 10.2 years with no expirations before late 2031. The deal is expected to close in Q4 2026 and will be funded through the revolving credit facility, select dispositions, and commercial loan repayments. The company's $1.0 million earnest money deposit became non-refundable on October 9, 2026, and the company now deems the closing of the acquisition probable. This acquisition meaningfully expands PINE's industrial footprint and adds long-duration, credit-supported cash flow. The company recently filed a $400M universal shelf and has active ATM programs, providing capital flexibility for such growth.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — Alpine Income Property Trust's $1.0 million earnest money deposit became non-refundable on October 9, 2026, and the company now deems the closing of the acquisition probable.
At the time of this announcement, PINE was trading at $17.92 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $321.4M. The 52-week trading range was $13.10 to $21.99. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.