Alpine Income Property Trust Announces Fourth Quarter Investment Activity
Alpine Income Property Trust (NYSE: PINE) announced its Q4 and year-to-date 2024 investment activities. The company completed a $28 million acquisition of 5 single-tenant properties anchored by BJ's Wholesale Club in Charlotte, North Carolina. Year-to-date investment activity totals $112.2 million at a 9.3% weighted average initial yield. In October 2024, PINE sold two former Mountain Express convenience stores for $1.4 million. Total year-to-date dispositions reached $70.2 million at a 7.1% weighted average exit cash cap rate.
Alpine Income Property Trust (NYSE: PINE) ha annunciato le sue attività di investimento per il quarto trimestre e l'anno fino ad oggi del 2024. L'azienda ha completato un acquisto di 28 milioni di dollari di 5 proprietà affittate a un unico inquilino, ancorate da BJ's Wholesale Club a Charlotte, Carolina del Nord. L'attività di investimento dell'anno fino ad oggi ammonta a 112,2 milioni di dollari con un rendimento iniziale medio ponderato del 9,3%. Nell'ottobre 2024, PINE ha venduto due ex negozi di convenienza Mountain Express per 1,4 milioni di dollari. Le dismissioni totali dall'inizio dell'anno hanno raggiunto 70,2 milioni di dollari con un tasso di rendimento di uscita medio ponderato in contante del 7,1%.
Alpine Income Property Trust (NYSE: PINE) anunció sus actividades de inversión del cuarto trimestre y del año hasta la fecha de 2024. La empresa completó una adquisición de 28 millones de dólares de 5 propiedades de inquilino único ancladas por BJ's Wholesale Club en Charlotte, Carolina del Norte. La actividad de inversión del año hasta la fecha totaliza 112,2 millones de dólares con un rendimiento inicial ponderado del 9,3%. En octubre de 2024, PINE vendió dos antiguas tiendas de conveniencia Mountain Express por 1,4 millones de dólares. Las disposiciones totales hasta la fecha alcanzaron 70,2 millones de dólares con una tasa de capitalización media ponderada de salida del 7,1%.
알프라인 소득 부동산 신탁 (NYSE: PINE)는 2024년 4분기 및 연초 투자 활동을 발표했습니다. 이 회사는 노스캐롤라이나주 샬럿에 있는 BJ's Wholesale Club에 의해 지지되는 5개의 단일 세입자 부동산을 2800만 달러에 인수했습니다. 올해 현재 투자 활동 총액은 1억 1220만 달러로 9.3%의 가중 평균 초기 수익률을 기록했습니다. 2024년 10월, PINE은 두 개의 구 마운틴 익스프레스 편의점을 140만 달러에 판매했습니다. 연간 총 처분액은 7020만 달러로 7.1%의 가중 평균 현금 출구 자본화율을 달성했습니다.
Alpine Income Property Trust (NYSE: PINE) a annoncé ses activités d'investissement pour le quatrième trimestre et l'année à ce jour de 2024. La société a finalisé une acquisition de 28 millions de dollars de 5 propriétés à locataire unique ancrées par BJ's Wholesale Club à Charlotte, Caroline du Nord. L'activité d'investissement depuis le début de l'année totalise 112,2 millions de dollars avec un rendement initial moyen pondéré de 9,3 %. En octobre 2024, PINE a vendu deux anciens magasins de proximité Mountain Express pour 1,4 million de dollars. Les cessions totales depuis le début de l'année ont atteint 70,2 millions de dollars avec un taux de capitalisation en sortie moyen pondéré en espèces de 7,1 %.
Alpine Income Property Trust (NYSE: PINE) hat seine Investitionstätigkeiten für das vierte Quartal und das bisherige Jahr 2024 bekannt gegeben. Das Unternehmen hat eine Erwerb von 28 Millionen Dollar für 5 Einmieter-Immobilien, die von BJ's Wholesale Club in Charlotte, North Carolina, unterstützt werden, abgeschlossen. Die Investitionstätigkeit bis zur Jahresmitte beträgt insgesamt 112,2 Millionen Dollar bei einer gewogenen durchschnittlichen Anfangsrendite von 9,3%. Im Oktober 2024 verkaufte PINE zwei ehemalige Mountain Express-Tankstellen für 1,4 Millionen Dollar. Die gesamten Veräußerungen bis zum laufenden Jahr belaufen sich auf 70,2 Millionen Dollar bei einem gewogenen durchschnittlichen Ausschüttungskapitalisierungszinssatz von 7,1%.
- Completed $28M strategic acquisition of 5 properties in Charlotte market
- Year-to-date investments reached $112.2M with attractive 9.3% initial yield
- Successfully executed $70.2M in dispositions at 7.1% exit cap rate
- None.
Insights
The
The disposition of two Mountain Express properties for
WINTER PARK, Fla., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company” or “PINE”), an owner and operator of single tenant net leased commercial income properties, today announced updated fourth quarter and year-to-date 2024 investment and disposition activities.
2024 Investment Activity
- In November 2024, the Company completed a
$28 million purchase of a portfolio of 5 single-tenant properties anchored by BJ’s Wholesale Club, all of which are located in the greater Charlotte, North Carolina area. The portfolio is located near the 1.4 million square foot Concord Mills mall. With the addition of this investment, Charlotte, North Carolina now enters PINE’s top 5 markets based on annual ABR. - The Company’s year-to-date total investment activity, including acquisitions and structured investment activity, now totals
$112.2 million at a weighted average initial investment yield of9.3% , exceeding the high end of investment activity given with the third quarter reporting.
2024 Disposition Activity
- In October 2024, the Company sold two former Mountain Express convenience stores for a total of
$1.4 million . - The Company’s year-to-date disposition volume, inclusive of property and structured investment sales, now totals
$70.2 million at a weighted average exit cash cap rate of7.1% .
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 predominately leased to high-quality publicly traded and credit-rated tenants.
| Contact: | Philip R. Mays Senior Vice President, Chief Financial Officer and Treasurer (407) 904-3324 pmays@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 “continued,” “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 (such as the COVID-19 Pandemic and its variants) 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, 2023 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.
FAQ
How much did Alpine Income Property Trust (PINE) invest in Charlotte properties in November 2024?
What is Alpine Income Property Trust's (PINE) total investment activity for 2024?
What was PINE's disposition activity in 2024?
