Alpine Income Property Trust Announces First Quarter 2025 Transaction Activity and Balance Sheet Update
Alpine Income Property Trust (NYSE: PINE) has reported its Q1 2025 transaction activities, featuring $79.2 million in acquisitions and structured investments with a 9.0% weighted average initial yield. The company acquired three net lease properties for $39.7 million with an 8.6% cash cap rate and 14.3-year average lease term, leased to Academy Sports, GermFree, and Alamo Drafthouse.
The company originated $21.7 million in structured investments, including seller financing and a construction loan. Additionally, PINE amended four existing structured investments, including upsizing a Publix-anchored shopping center loan and extending three Wawa construction loans.
In Q1 2025, PINE sold three properties for $11.7 million at a 9.1% exit cap rate. The company also repurchased 273,825 shares at $16.33 per share, totaling $4.5 million, with $5.5 million remaining in the buyback program. As of March 31, 2025, PINE has no debt maturities until 2026.
Alpine Income Property Trust (NYSE: PINE) ha riportato le sue attività di transazione per il primo trimestre del 2025, evidenziando acquisizioni e investimenti strutturati per un totale di 79,2 milioni di dollari, con un rendimento iniziale medio ponderato del 9,0%. L'azienda ha acquisito tre proprietà in affitto netto per 39,7 milioni di dollari, con un tasso di capitalizzazione in contante dell'8,6% e una durata media del contratto di locazione di 14,3 anni, affittate a Academy Sports, GermFree e Alamo Drafthouse.
L'azienda ha originato investimenti strutturati per 21,7 milioni di dollari, inclusi finanziamenti da venditore e un prestito per costruzione. Inoltre, PINE ha modificato quattro investimenti strutturati esistenti, inclusa l'espansione di un prestito per un centro commerciale ancorato a Publix e l'estensione di tre prestiti per costruzione di Wawa.
Nel primo trimestre del 2025, PINE ha venduto tre proprietà per 11,7 milioni di dollari con un tasso di capitalizzazione in uscita del 9,1%. L'azienda ha anche riacquistato 273.825 azioni a 16,33 dollari per azione, per un totale di 4,5 milioni di dollari, con 5,5 milioni di dollari rimanenti nel programma di riacquisto. Al 31 marzo 2025, PINE non ha scadenze di debito fino al 2026.
Alpine Income Property Trust (NYSE: PINE) ha informado sobre sus actividades de transacción del primer trimestre de 2025, destacando adquisiciones e inversiones estructuradas por un total de 79,2 millones de dólares, con un rendimiento inicial promedio ponderado del 9,0%. La empresa adquirió tres propiedades de arrendamiento neto por 39,7 millones de dólares, con una tasa de capitalización en efectivo del 8,6% y un plazo de arrendamiento promedio de 14,3 años, arrendadas a Academy Sports, GermFree y Alamo Drafthouse.
La empresa originó 21,7 millones de dólares en inversiones estructuradas, incluyendo financiamiento del vendedor y un préstamo para construcción. Además, PINE modificó cuatro inversiones estructuradas existentes, incluyendo la ampliación de un préstamo para un centro comercial anclado por Publix y la extensión de tres préstamos para construcción de Wawa.
En el primer trimestre de 2025, PINE vendió tres propiedades por 11,7 millones de dólares con una tasa de capitalización de salida del 9,1%. La empresa también recompró 273,825 acciones a 16,33 dólares por acción, totalizando 4,5 millones de dólares, con 5,5 millones de dólares restantes en el programa de recompra. Al 31 de marzo de 2025, PINE no tiene vencimientos de deuda hasta 2026.
알파인 인컴 프로퍼티 트러스트 (NYSE: PINE)는 2025년 1분기 거래 활동을 보고하며, 7920만 달러의 인수 및 구조화된 투자와 9.0%의 가중 평균 초기 수익률을 특징으로 하고 있습니다. 이 회사는 Academy Sports, GermFree 및 Alamo Drafthouse에 임대된 3970만 달러의 순 임대 자산 3개를 인수하였으며, 현금 자본화율은 8.6%이고 평균 임대 기간은 14.3년입니다.
회사는 판매자 금융 및 건설 대출을 포함하여 2170만 달러의 구조화된 투자를 시작했습니다. 또한 PINE은 Publix가 주도하는 쇼핑 센터 대출을 확대하고 Wawa 건설 대출 3건을 연장하는 등 기존의 4건의 구조화된 투자를 수정했습니다.
2025년 1분기 동안 PINE은 1170만 달러에 3개의 자산을 매각하였으며, 이때의 출구 자본화율은 9.1%입니다. 회사는 또한 주당 16.33달러에 273,825주를 재매입하여 총 450만 달러에 달하며, 재매입 프로그램에는 550만 달러가 남아 있습니다. 2025년 3월 31일 기준으로 PINE은 2026년까지 만기가 없는 부채가 없습니다.
Alpine Income Property Trust (NYSE: PINE) a rapporté ses activités de transaction pour le premier trimestre de 2025, mettant en avant 79,2 millions de dollars d'acquisitions et d'investissements structurés avec un rendement initial moyen pondéré de 9,0%. L'entreprise a acquis trois propriétés en location nette pour 39,7 millions de dollars, avec un taux de capitalisation en espèces de 8,6% et une durée de bail moyenne de 14,3 ans, louées à Academy Sports, GermFree et Alamo Drafthouse.
L'entreprise a généré 21,7 millions de dollars d'investissements structurés, y compris un financement par le vendeur et un prêt de construction. De plus, PINE a modifié quatre investissements structurés existants, y compris l'augmentation d'un prêt pour un centre commercial ancré par Publix et l'extension de trois prêts de construction Wawa.
Au premier trimestre 2025, PINE a vendu trois propriétés pour 11,7 millions de dollars avec un taux de capitalisation de sortie de 9,1%. L'entreprise a également racheté 273 825 actions à 16,33 dollars par action, totalisant 4,5 millions de dollars, avec 5,5 millions de dollars restants dans le programme de rachat. Au 31 mars 2025, PINE n'a pas d'échéances de dettes jusqu'en 2026.
Alpine Income Property Trust (NYSE: PINE) hat seine Transaktionsaktivitäten für das erste Quartal 2025 berichtet, einschließlich 79,2 Millionen Dollar an Akquisitionen und strukturierten Investitionen mit einer gewichteten durchschnittlichen Anfangsrendite von 9,0%. Das Unternehmen erwarb drei Netto-Mietobjekte für 39,7 Millionen Dollar mit einer Cash-Kapitalisierungsrate von 8,6% und einer durchschnittlichen Mietdauer von 14,3 Jahren, die an Academy Sports, GermFree und Alamo Drafthouse vermietet sind.
Das Unternehmen hat 21,7 Millionen Dollar an strukturierten Investitionen initiiert, einschließlich Verkäuferfinanzierung und einem Baukredit. Darüber hinaus hat PINE vier bestehende strukturierte Investitionen geändert, einschließlich der Aufstockung eines Kredits für ein von Publix angeführtes Einkaufszentrum und der Verlängerung von drei Baukrediten für Wawa.
Im ersten Quartal 2025 verkaufte PINE drei Immobilien für 11,7 Millionen Dollar zu einer Ausstiegs-Kapitalisierungsrate von 9,1%. Das Unternehmen kaufte außerdem 273.825 Aktien zu einem Preis von 16,33 Dollar pro Aktie zurück, was insgesamt 4,5 Millionen Dollar ausmacht, wobei 5,5 Millionen Dollar im Rückkaufprogramm verbleiben. Zum 31. März 2025 hat PINE keine Schuldenfälligkeiten bis 2026.
- Strong 9.0% weighted average initial yield on $79.2M investments
- Long weighted average lease term of 14.3 years on new acquisitions
- High-quality tenants including Sony Group Entertainment subsidiary (A- rated)
- Active share buyback program with $5.5M remaining
- No immediate debt maturities until 2026
- Net disposition of assets with higher exit cap rate (9.1%) than acquisition cap rate (8.6%)
Insights
Alpine Income Property Trust's Q1 activity demonstrates robust capital recycling with
The company's property acquisitions show strategic tenant diversification with Academy Sports, GermFree, and investment-grade tenant Alamo Drafthouse (Sony subsidiary, S&P: A-). The weighted average lease term extension to 9.0 years strengthens cash flow predictability, while the
PINE's structured investments, particularly the amendments to existing loans, reflect flexibility in capital deployment while maintaining attractive yields (
The
WINTER PARK, Fla., April 02, 2025 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company”) today announced its investment and disposition activities for the first quarter of 2025 and provided a balance sheet update.
Investment and Disposition Activity
The Company’s total investment activity during the first quarter of 2025 includes
- Acquired three net lease properties for
$39.7 million , representing a weighted average going-in cash cap rate of8.6% and a weighted average remaining lease term of 14.3 years. The acquisitions are located in three states and are net leased to three tenants: Academy Sports, GermFree, and Alamo Drafthouse (a subsidiary of Sony Group Entertainment, rated A- by S&P). - Originated one seller financing structured investment in conjunction with the disposition of a property in Canton, Ohio leased to At Home, and originated a new construction loan, representing
$21.7 million of principal with a current balance of$12.6 million at a weighted average initial yield of9.6% . - Amended four existing structured investments: A construction loan secured by a Publix-anchored shopping center and three outparcels was upsized by
$10.8 million to$28.6 million , with$23.0 million currently outstanding; and three Wawa construction loans were extended by six to twelve months, with one of the loans being upsized by$7.0 million to$14.8 million , with$7.2 million currently outstanding. - Sold three net lease properties for
$11.7 million representing a weighted average exit cap rate of9.1% , including properties leased to O’Reilly and At Home as tenants and a vacant parcel formerly leased to a convenience store.
Balance Sheet Update
- During the quarter ended March 31, 2025, the Company repurchased 273,825 shares of common stock at a weighted average gross price of
$16.33 per share, for a total cost of$4.5 million . As of March 31, 2025, the Company had approximately$5.5 million remaining on its current common stock buyback program. - As of March 31, 2025, there were 15,642,527 shares of common stock and operating partnership units outstanding.
- The Company currently has no debt maturities until 2026.
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. 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, continued volatility and uncertainty in the credit markets and broader financial markets, risks inherent in the real estate business, including tenant defaults, potential liability relating to environmental matters, credit risk associated with the Company investing in first mortgage 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 business of its tenants that are beyond the control of the Company or its tenants, 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 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 publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
Contact:
Investor Relations
ir@alpinereit.com
FAQ
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