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- Tenant A Accounted For 35.0% and 36.5% of Total Revenues (new) — The portfolio has significant tenant concentration, with one tenant representing over a third of revenues.
- Pro Forma Net Income Would Decline (new) — Pro forma results show lower net income due to incremental interest expense and depreciation from the acquisition.
Alpine Income Property Trust to acquire 13-property industrial portfolio for $117.3M
Filed October 9, 2026 · Period ending October 5, 2026 · ~1 min read
Key Changes
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Agreed to buy a 13-property industrial portfolio across 11 states for $117.3 million, or $63 per square foot.
Item 1.01 verify on EDGAR → -
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Portfolio totals ~1.9M sq ft, 100% leased to nine tenants on triple-net leases with 10.2-year weighted average remaining term.
Exhibit 99.3 view on EDGAR → -
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Portfolio generated $4.538M net income in H1 2026 and $8.721M in 2025; pro forma net income would decline due to added interest and depreciation.
Exhibit 99.1 view on EDGAR → -
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$1.0M earnest money deposit became non-refundable on Oct 9, 2026; closing now deemed probable but conditions remain unsatisfied.
Item 1.01 verify on EDGAR → -
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Funding assumed via revolving credit facility, with possible use of cash, other borrowings, securities offerings, or property dispositions.
Exhibit 99.2 view on EDGAR →
Summary
Alpine Income Property Trust has agreed to acquire a 13-property industrial portfolio for $117.3 million, or $63 per square foot. The portfolio spans approximately 1.9 million square feet across 11 states and is fully leased to nine tenants under absolute triple-net leases with a weighted average remaining lease term of 10.2 years.
The $1.0 million earnest money deposit became non-refundable on October 9, 2026, making the closing probable, though certain closing conditions remain unsatisfied. The portfolio generated $4.538 million of net income in the first half of 2026 and $8.721 million in 2025.
However, pro forma financials show that the acquisition would reduce net income attributable to common stockholders due to added interest expense and depreciation. The company plans to fund the purchase primarily through its revolving credit facility, with potential use of asset sales and loan repayments. A key concern is tenant concentration: one tenant accounts for over a third of portfolio revenues. Additionally, the pro forma decline in net income highlights the near-term earnings dilution from the acquisition's financing and depreciation costs. Investors should weigh the long-term lease stability against these immediate financial impacts.
Section-by-Section Diff
Event · Item 1.01 — Entry into a Material Definitive Agreement
PINE subsidiary agreed to buy a 13-property industrial portfolio for $117.3M; $1.0M deposit became non-refundable.
Added in current filing · verify on EDGAR →
On October 9, 2026, the Company’s $1.0 million earnest money deposit for the acquisition of the Portfolio became non-refundable, and the Company now deems the closing of the acquisition of the Portfolio to be probable.
The $1.0 million earnest money deposit became non-refundable on October 9, 2026, and the company now considers the acquisition closing probable. This signals increased commitment to completing the transaction.
Added in current filing · verify on EDGAR →
Certain closing conditions must be met before or at the closing and are not currently satisfied. Accordingly, as of the date of this Current Report on Form 8-K and until the closing of the purchase of the Portfolio, there can be no assurance that the Company will acquire the Portfolio.
The acquisition is not yet complete because certain closing conditions remain unsatisfied. The company cautions that there is no assurance the portfolio will ultimately be acquired.
Event · Item 7.01 — Regulation FD Disclosure
Alpine Income Property Trust announced a press release about executing a PSA to acquire a portfolio.
Added in current filing · verify on EDGAR →
On October 9, 2026, the Company issued a press release announcing the execution of the PSA to acquire the Portfolio.
The company disclosed that it has executed a purchase and sale agreement (PSA) to acquire a portfolio of properties. The press release with details is furnished as Exhibit 99.3, but the 8-K body itself does not include the portfolio size, price, or property types.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
On October 5, 2026, Alpine Income Property Trust, Inc., a Maryland corporation (the “Company”), through a wholly owned subsidiary of the Company’s operating partnership, entered into a Purchase and Sale Agreement (the “PSA”) with a certain institutional owner for the purchase of a 13-property portfolio of industrial properties located across 11 states (the “Portfolio”) for an aggregate purchase price of $117.3 million.
The company signed a purchase agreement to acquire a 13-property industrial portfolio across 11 states for $117.3 million. The $1.0 million earnest money deposit became non-refundable on October 9, 2026, making the closing probable, though certain closing conditions remain unsatisfied.
Added in current filing · view on EDGAR →
Tenant A accounted for 35.0% and 36.5% of total revenues during the six months ended June 30, 2026 and the year ended December 31, 2025, respectively.
The portfolio has significant tenant concentration: Tenant A alone represents over a third of total revenues in both periods. Tenant B accounts for 19.8% and 11.2%, and Tenant C for 10.3% and 10.8%, respectively.
Added in current filing · view on EDGAR →
Total | $ 108,439
The portfolio has $108.4 million of minimum future rental receipts under non-cancelable operating leases as of June 30, 2026, providing visibility into future cash flows. The amounts exclude CPI-based rent increases.
Event · Exhibit 99.2
Alpine Income Property Trust agreed to buy a 13-property industrial portfolio for $117.3 million and filed pro forma financials.
Added in current filing · verify on EDGAR →
entered into a Purchase and Sale Agreement (the “PSA”) with a certain institutional owner for the purchase of a 13-property portfolio of industrial properties located across 11 states (the “Portfolio”) for an aggregate purchase price of $117.3 million
The company signed a purchase agreement on October 5, 2026 to acquire a 13-property industrial portfolio across 11 states for $117.3 million. The $1.0 million earnest money deposit became non-refundable on October 9, 2026, making the closing probable, though certain closing conditions remain unsatisfied.
Added in current filing · view on EDGAR →
Total Assets | $ 781,513 | $ 122,225 | $ 903,738
The pro forma balance sheet as of June 30, 2026 shows total assets increasing from $781.5 million to $903.7 million after giving effect to the acquisition. The adjustment includes $106.5 million of real estate at cost and $15.8 million of intangible lease assets.
Added in current filing · view on EDGAR →
Net Income (Loss) Attributable to Common Stockholders | $ 4,067 | $ (964) | $ 3,103
For the six months ended June 30, 2026, pro forma net income attributable to common stockholders would have been $3.1 million, down from $4.1 million historically. The decline reflects additional interest expense and depreciation from the acquisition, partially offset by higher lease income.
Added in current filing · view on EDGAR →
Net Loss Attributable to Common Stockholders | $ (3,209) | $ (2,530) | $ (5,739)
For the year ended December 31, 2025, the pro forma net loss attributable to common stockholders would have been $5.7 million, compared to a historical loss of $3.2 million. The larger loss reflects the acquisition's incremental interest expense and depreciation exceeding the added lease income.
Event · Exhibit 99.3
Added in current filing · view on EDGAR →
Approximately 19% of in-place cash rent is attributable to tenants that are rated investment grade or are subsidiaries of investment grade rated parents.
About 19% of the portfolio's in-place cash rent comes from investment-grade rated tenants or their subsidiaries. The remaining tenants are not investment-grade rated, which is typical for net-lease industrial portfolios but represents some credit risk.
Added in current filing · view on EDGAR →
The Company expects to fund the acquisition with borrowings under its revolving credit facility, proceeds from select dispositions, and commercial loan repayments.
The company plans to finance the acquisition using its revolving credit facility, proceeds from selling select properties, and repayments from commercial loans. This mix of debt and asset sales will affect leverage and portfolio composition.
Added in current filing · view on EDGAR →
"This acquisition will add a portfolio of mission-critical manufacturing and distribution facilities, at a low basis with 10 years of weighted average lease term remaining," said John P. Albright, President and Chief Executive Officer of Alpine Income Property Trust.
CEO John Albright highlights the portfolio's mission-critical facilities, low acquisition basis, and 10-year weighted average lease term. He also notes the investment is expected to deliver an attractive initial yield with annual rent escalators supporting future cash flow growth.
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Figures/quotes linked to EDGAR · Narrative written by AI · Oct 13, 2026 · How we verify