Alpine Income Property Trust, Inc. (NYSE: PINE) announced the completion of the acquisition of a 13-property industrial portfolio on October 30, 2026. The transaction closed for a total purchase price of $117.3 million.
The acquired portfolio consists of approximately 1.9 million square feet of space across 209 acres located in 11 different states. The properties are 100% leased to nine tenants under absolute triple-net leases. The portfolio includes mission-critical manufacturing and distribution facilities.
According to the company, the portfolio features a weighted average remaining lease term of 10.2 years. The leases include annual rent escalators, which the company states are intended to provide future cash flow growth.
The acquisition was funded through borrowings under the company’s revolving credit facility. The seller of the portfolio is described as an institutional owner with no material relationship to Alpine Income Property Trust other than the transaction itself.
