Alpine Income Property Trust To Acquire A 13-Property Industrial Portfolio For $117.3M

Alpine Income Property Trust, Inc. (NYSE: PINE) has announced an agreement to acquire a 13-property industrial portfolio for $117.3 million, equating to $63 per square foot. The portfolio encompasses approximately 1.9 million square feet across 11 states and is fully leased to nine tenants under absolute triple-net leases, with an average remaining lease term of 10.2 years. Notably, 19% of the in-place cash rent comes from tenants rated investment grade or their subsidiaries.