WINTER PARK, Fla., Aug. 29, 2025 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company”) announced today the origination of a $24.0 million first mortgage loan investment (the “Loan”), which was fully funded at closing. The Loan carries a 24-month term with an interest rate of 11.0%, and will fund the redevelopment of a former retail building into an industrial asset (the “Property”).

The Property, comprising 127,380 square feet on 8.7 acres, is located in the East Bay submarket of San Francisco, CA. We expect the redevelopment to attract technology, life science, manufacturing and logistics users.

“This transaction aligns with our ongoing strategic objective to drive value and cash flow growth for shareholders by investing in accretive institutional-quality assets and structured investments,” said John P. Albright, President and Chief Executive Officer of Alpine Income Property Trust. “The Loan will enable the sponsor, a well-capitalized real estate opportunity fund, to acquire and rezone the Property, unlocking its potential for a diverse range of high-demand industrial uses."

Year-to-date in 2025, the Company has completed $109.9 million in acquisition and structured investment transactions, achieving a weighted average initial cash yield of 9.5%.

About Alpine Income Property Trust, Inc.

Alpine Income Property Trust, Inc. (NYSE: PINE) is a publicly traded real estate investment trust that seeks to deliver attractive risk-adjusted returns and dependable cash dividends by investing in, owning and operating a portfolio of single tenant net leased commercial income properties that are predominantly leased to high-quality publicly traded and credit-rated tenants.

We encourage you to review our most recent investor presentation which is available on our website at http://www.alpinereit.com .

Safe Harbor

This press release may contain “forward-looking statements.” Forward-looking statements include statements that may be identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. Statements, among others, relating to the redevelopment of the Property, the ability of the redevelopment to attract users, the sponsor’s use of proceeds from the Loan, and unlocking the Property’s potential for a diverse range of high-demand industrial uses are forward-looking statements. Forward-looking statements are based on the Company’s current expectations and assumptions regarding capital market conditions, the Company’s business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include general business and economic conditions, volatility and uncertainty in the credit markets and broader financial markets, tariffs and international trade policies, risks inherent in the real estate business, including tenant defaults, potential liability relating to environmental matters, credit risk associated with the Company investing in commercial loans and investments, illiquidity of real estate investments and potential damages from natural disasters, the impact of epidemics or pandemics on the Company’s business and the business of its tenants and the impact of such epidemics or pandemics on the U.S. economy and market conditions generally, other factors affecting the Company’s business or the businesses of its tenants or borrowers that are beyond the control of the Company or its tenants or borrowers, and the factors set forth under “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025 and other risks and uncertainties discussed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

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