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GlobeNewsWire
2 days ago
Alpine Income Property Trust Funds $14.1 Million First Mortgage Loan Investment
WINTER PARK, Fla., Oct. 15, 2025 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company”), a publicly traded real estate investment trust that owns and operates a portfolio of single tenant net leased commercial income properties, today announced the origination of a first mortgage loan investment secured by a luxury residential development with over 130 lots located in the Austin, Texas metropolitan area. At closing, the Company funded $14.1 million of a phase one loan, with a total commitment for the phase one loan of up to $29.5 million. The Company anticipates funding the remainder of the phase one loan prior to the end of 2025, subject to the borrower's satisfaction of certain conditions. Additionally, the loan agreement provides for a phase two loan with a total commitment of up to $31.8 million. The Company's funding of loan commitments under the phase two loan is subject to the borrower's satisfaction of certain conditions, which the Company currently anticipates will be satisfied in early 2026.