Alpine Income Trust Buys Aspen Retail Asset for $10M at 8.5% Cap Rate
Alpine Income Property Trust announced acquisition of a 6,529-square-foot retail property in Aspen, Colorado for $10.0 million under a 50-year absolute triple-net master lease at an initial 8.5% cap rate and 1.25% annual rent escalations. The property sits in a high-income retail corridor averaging $187,000 household incomes within five miles.
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