Alpine Income Property Trust Acquires Property in Aspen, Colorado for $10.0 Million

Acquisition Details - The company announced the acquisition of a 6,529-square foot retail property in downtown Aspen, Colorado for $10.0 million at an initial cap rate of 8.5% with 1.25% annual escalators [1] - The acquisition was structured as a 50-year absolute triple net master lease with a commercial real estate firm specializing in retail project leasing [1] - The property is located in a desirable retail corridor, benefiting from an average household income of $187,000 within a five-mile radius [1] Company Overview - Alpine Income Property Trust, Inc. is a publicly traded real estate investment trust (REIT) focused on delivering attractive risk-adjusted returns and dependable cash dividends [2] - The company invests in, owns, and operates a diversified portfolio of single tenant net leased commercial income properties, predominantly leased to high-quality publicly traded and credit-rated tenants [2]