- Alpine Income Property Trust ( NYSE: PINE ) said QTD, it has acquired four net lease retail properties for acquisition volume of $35.5M at a weighted average going-in cash cap rate of 7.4%.
- The net lease REIT said the acquired properties are leased to Home Depot, Dick's Sporting Goods and Dollar Tree/Family Dollar.
- Additionally, the company sold one net lease property QTD for $2M at an exit cap rate of 5.2%, generating a gain on sale of $1.6M.
- PINE's top five tenants based on total annualized base rent are Walgreens, Dick's Sporting Goods, Dollar Tree/Family Dollar, Lowe's and Dollar General.
- PINE shares were trading +0.76% pre-market.
- Source: Press Release
For further details see:
Alpine Income Property Trust acquires 4 net lease retail properties QTD