Alpine Income Property Trust completed the purchase of a 6,529-square-foot retail asset in downtown Aspen, Colorado, for $10.0 million, marking its largest acquisition to date. The property trades on a 50-year absolute triple net master lease with an established commercial real estate firm at an initial cap rate of 8.5%, featuring 1.25% annual rent escalators. Located in a premium retail corridor—where the average household income exceeds $187,000 within a five-mile radius—the deal underscores management’s focus on high-quality, income-producing assets in affluent markets.

As of the most recent quarter, Alpine Income holds 128 properties with a 99% occupancy rate, reflecting its disciplined tenant selection process and emphasis on free-standing, single-tenant buildings leased to industry leaders such as Walmart, Sam’s Club and Lowe’s. The REIT’s $250 million market capitalization provides runway for targeted acquisitions, highlighted by eight purchases totaling $39.8 million in the fourth quarter. These strategic additions support Alpine’s 6.5% dividend yield and position the trust for sustained cash flow growth as it scales operations.