Alpine Income Property Trust Closes $450 Million Unsecured Credit Agreement

Core Viewpoint - Alpine Income Property Trust, Inc. has successfully closed an amended and restated unsecured credit facility, which will be used to retire all prior unsecured debt, enhancing its financial position and flexibility [1][6]. Credit Facility Details - The new credit facility totals $450 million, consisting of a $250 million revolving credit facility due February 2030, a $100 million term loan due February 2029, and a $100 million term loan due February 2031 [6]. - The initial fixed interest rates are approximately 3.5% for the 2029 Term Loan and 2031 Term Loan, and approximately 4.8% for $100 million under the Revolving Credit Facility [1]. - The pricing grid for borrowings under the credit facility is 10 to 15 basis points lower compared to the prior unsecured debt [6]. - An accordion feature allows total borrowings under the credit facility to be increased to $750 million [6]. Financial Strategy - The company applied existing SOFR swap agreements at closing, which will adjust the interest rates for the loans in May 2026 and January 2027 to approximately 4.8% and 5.0%, respectively [1]. - The credit facility is provided by a syndicate of banks led by Truist Bank, with participation from several other banks [2]. Company Overview - Alpine Income Property Trust, Inc. is a publicly traded real estate investment trust focused on delivering attractive risk-adjusted returns and dependable cash dividends through investments in single tenant net leased commercial properties [3]. - The company also strategically invests in a select portfolio of commercial loan investments to enhance returns [3].