- Alpine Income Property Trust ( NYSE: PINE ) said Wednesday it acquired 51 net lease retail properties for total acquisition volume of $187.4M during 2022, representing a weighted-average going-in cash cap rate of 7.1%.
- The REIT sold 16 net lease properties for total disposition volume of $154.6M in 2022, at a weighted average exit cap rate of 6.5%, generating total gains of $33.8M.
- As of December 31, Alpine Income ( PINE ) owned 148 net lease properties representing $40.4M of annualized base rent.
- On December 1, the REIT completed the defeasance of its $30M secured mortgage, unencumbering six properties of which four were sold during Q4. The firm has no debt maturities till 2026.
- SA contributor Leo Imasuen believes Alpine Income ( PINE ) is a good consideration for shareholders who don't mind an externally managed REIT .
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Alpine Income Property Trust reports $187.4M acquisitions in 2022