Alpine Income Property Trust agrees to buy 13-property industrial portfolio for $117.3 million
PINE•Alpine Income Property Trust agreed to buy a 13-property industrial portfolio for $117.3 million, or $63 per square foot. The portfolio totals about 1.9 million square feet across 11 states, is fully leased, and is targeted to close in the fourth quarter of 2026.
1. Portfolio details
The portfolio is fully leased under absolute triple-net terms, with a weighted average remaining lease term of 10.2 years and no expirations before late 2031. Alpine plans to fund the purchase through its revolving credit facility, select asset sales and commercial loan repayments.
