Alpine Income Property Trust Closes $175 Million Unsecured Financing

Existing interest-rate swaps initially fix the new term loan’s rate at approximately 4.6%, but mature before the loan.

Rhea-AI Summary

Alpine Income Property Trust (PINE) closed $175 million in unsecured financing through a new term loan and expanded revolving credit facility. The financing comprises a $100 million term loan due October 2030 and a $75 million increase in revolving commitments, to $325 million from $250 million.

The company transferred $100 million of existing interest-rate swaps from the revolver to the term loan, setting an initial fixed rate of approximately 4.6% based on its current leverage ratio. Of those swaps, $50 million mature in January 2027 and the remaining $50 million in March 2028. The company said the financing adds potential liquidity and flexibility to fund future acquisitions.

3 points · 1 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 2 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point$100 million unsecured term loan closed, adding financing due October 2030. 34% of market cap
• Moderate pointRevolving commitments increased $75 million to $325 million from $250 million. 26% of market cap
• Minor pointExisting swaps transferred to the term loan provide an initial fixed rate of approximately 4.6%, based on current leverage.

Negative

• Major point$100 million term loan adds debt repayable in October 2030. 34% of market cap
• Minor point. Forward-looking: it has not happened yet and may not happen.Swap coverage expires before loan maturity: $50 million in January 2027 and $50 million in March 2028.

Key Figures

Total unsecured financings: $175 million 2030 Term Loan: $100 million Revolving commitment increase: $75 million +4 more

Total unsecured financings

$175 million

Financing closed

2030 Term Loan

$100 million

New term loan due October 2030

Revolving commitment increase

$75 million

Increase in aggregate Revolving Credit Facility commitments

Revolving Credit Facility commitments

$325 million from $250 million

Aggregate commitments after the increase

Existing SOFR swaps moved

$100 million

Moved from the Revolving Credit Facility to the 2030 Term Loan

SOFR swaps maturing

$50 million

January 2027

SOFR swaps maturing

$50 million

March 2028

Historical Context

1 past event · Latest: Oct 22

1 event

1. Oct 22

   earnings report

   24h Move

   -7.2%

   Disclosed a $100 million term loan and $75 million revolver increase expected late October.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

sofr swap agreements, revolving credit facility, unsecured financings

3 terms

sofr swap agreements financial

"moved $100 million of existing SOFR swap agreements previously applied"

SOFR swap agreements are interest rate swap contracts in which one party pays a fixed interest rate and the other pays a floating rate tied to the Secured Overnight Financing Rate (SOFR). The floating leg is typically calculated as the compounded (or sometimes compounded-in-arrears) average of daily SOFR over each accrual period and settled in cash on scheduled payment dates; these swaps can be cleared through a central counterparty or traded bilaterally. Because SOFR is a nearly risk‑free overnight Treasury repo rate rather than a credit-sensitive term rate, these swaps use specific market conventions (compounding method, payment lag and fallback provisions) to produce a multi‑day floating rate for comparison with the fixed leg.

revolving credit facility financial

"increase in the aggregate amount of commitments under the Revolving Credit Facility"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

unsecured financings financial

"providing $175 million in unsecured financings"

Loans, bonds or other borrowings that are made without specific collateral backing them; the lender's repayment claim rests on the borrower's general promise and creditworthiness rather than on pledged assets. Because there is no collateral, unsecured financings are typically treated as general unsecured claims in insolvency (ranked below secured creditors) and often carry stricter contractual terms or higher interest to compensate lenders for the greater risk.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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WINTER PARK, Fla., Oct. 29, 2026 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company”), today announced the successful closing of its previously announced 2030 term loan due October 2030 (the “2030 Term Loan”) and upsized revolving credit facility (“Revolving Credit Facility”) providing $175 million in unsecured financings consisting of:

• A new $100 million 2030 Term Loan; and
• A $75 million increase in the aggregate amount of commitments under the Revolving Credit Facility to $325 million from $250 million.

“The new term loan and expanded revolver add $175 million of potential liquidity and financial flexibility to fund future acquisitions,” said Philip R. Mays, Senior Vice President and Chief Financial Officer of Alpine Income Property Trust. “We appreciate the continued support of our existing banking partners and are pleased to welcome Capital One and Associated Bank to our Credit Facility.”

At closing, the Company moved $100 million of existing SOFR swap agreements previously applied to the Revolving Credit Facility to the 2030 Term Loan, resulting in an initial fixed interest rate on the 2030 Term Loan of approximately 4.6% based on the Company’s current leverage ratio. The Company will continue to evaluate interest rate hedging alternatives as $50 million of the SOFR swap agreements applied to the 2030 Term Loan mature in January 2027, with the remaining $50 million maturing in March 2028.

The 2030 Term Loan and upsized Revolving Credit Facility were provided by a syndicate of banks led by Truist Bank, N.A., as administrative agent. Co-syndication agents included Capital One, National Association, KeyBank National Association, PNC Bank, National Association, Raymond James Bank, Regions Bank, and The Huntington National Bank. Additional participating banks included Associated Bank, National Association, Pinnacle Bank, and Stifel Bank & Trust.

About Alpine Income Property Trust, Inc. 

Alpine Income Property Trust, Inc. (NYSE: PINE) is a publicly traded real estate investment trust that seeks to deliver attractive risk-adjusted returns and dependable cash dividends by investing in, owning and operating a portfolio of single tenant net leased commercial income properties that are predominantly leased to high-quality publicly traded and credit-rated tenants. The Company also complements its income property portfolio by strategically investing in a select portfolio of commercial loan investments intended to deliver an attractive risk-adjusted return.

We encourage you to review our most recent investor presentation which is available on our website at http://www.alpinereit.com.  

Safe Harbor 

This press release may contain “forward-looking statements.” Forward-looking statements include statements that may be identified by words such as “potential,” “future,” “outlook,” “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. Statements, among others, relating to potential liquidity and financial flexibility to fund future acquisitions and the Company’s continued evaluation of interest rate hedging alternatives are forward-looking statements. Forward-looking statements are based on the Company’s current expectations and assumptions regarding capital market conditions, the Company’s business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include general business and economic conditions, continued volatility and uncertainty in the credit markets and broader financial markets, geopolitical conflicts, tariffs and international trade policies, risks inherent in the real estate business, including tenant or borrower defaults, potential liability relating to environmental matters, credit risk associated with the Company investing in commercial loans and investments, illiquidity of real estate investments and potential damages from natural disasters, the impact of epidemics or pandemics on the Company’s business and the businesses of its tenants and borrowers and the impact of such epidemics or pandemics on the U.S. economy and market conditions generally, other factors affecting the Company’s business or the businesses of its tenants and borrowers that are beyond the control of the Company or its tenants or borrowers, and the factors set forth under “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and other risks and uncertainties discussed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Contact:
Investor Relations
ir@alpinereit.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What financing did Alpine Income Property Trust (PINE) close?

Alpine closed $175 million in unsecured financing, comprising a new $100 million term loan due October 2030 and a $75 million increase in revolving credit commitments. The increase brings total revolving commitments to $325 million from $250 million.

What is the interest rate on Alpine Income Property Trust’s new 2030 term loan?

The term loan has an initial fixed interest rate of approximately 4.6%, based on the company’s current leverage ratio. Existing swaps totaling $100 million were transferred from the revolver; $50 million mature in January 2027 and the remaining $50 million in March 2028.

How does Alpine Income Property Trust plan to address the term loan’s expiring interest-rate swaps?

Alpine plans to continue evaluating interest-rate hedging alternatives as the swaps applied to its 2030 term loan mature.