Alpine Income Property Trust, Inc. (PINE) Sells Its Former Century Theater Center in Reno, Nevada, for $5.0 Million

Core Insights - Alpine Income Property Trust, Inc. (NYSE:PINE) is recognized for its significant dividend growth and is listed among the 20 Best Stocks to Buy and Hold for a Lifetime [1] Group 1: Recent Transactions - The company sold its former Century Theater Center in Reno, Nevada, for $5.0 million, with $4.0 million in seller financing at an 8% interest rate over two years, improving portfolio occupancy to 99.4% and lowering carrying costs [2] - A $24 million first mortgage loan was created with an 11% interest rate to finance the conversion of a 127,380-square-foot building in East Bay, San Francisco, into industrial space targeting technology, life sciences, manufacturing, and logistics tenants [3] Group 2: Investment Performance - Alpine Income Property Trust has made $109.9 million in structured investments and acquisitions in the current year, yielding an initial cash yield of 9.5% on average [3] - The company's single-tenant net-leased commercial properties are primarily leased to publicly traded and credit-rated tenants, reinforcing its position as a strong investment option [4]