Alpine Income Property Trust Announces New $ 80 Million Mandate

DAYTONA BEACH, Fla., October 04, 2021 (GLOBE NEWSWIRE) – Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company” or “PINE”) today announced that it has successfully executed a new term loan unsecured (the “term loan”). The term loan will mature in January 2027 and is priced against LIBOR, determined by the Company’s leverage ratio. The Company has fixed LIBOR over the term of the term loan. Based on the Company’s current indebtedness, the interest rate on the term loan will be set at an initial rate of 1.83%. The term loan also includes an accordion option which allows the Company to request additional loan commitments up to a total of $ 200 million.

“We appreciate the continued support of our banking group and are delighted with the attractive terms of this new loan,” commented Matthew M. Partridge, Senior Vice President, Chief Financial Officer and Treasurer of Alpine Income Property Trust. “This additional capital allows us to repay our unsecured revolving credit facility, further stagger our future debt maturities and, when combined with the proceeds from our anticipated sales of office buildings, meet our financial needs. capital for the foreseeable future. “

The National KeyBank Association will act as administrative agent. KeyBanc Capital Markets Inc., Regions Capital Markets and US Bank National Association will act as Joint Principal Arrangers and KeyBanc Capital Markets Inc. will act as Sole Bookrunner. Bank of Montreal, Raymond James Bank and National Huntington Bank also participated in the term loan.

About Alpine Income Property Trust, Inc.

Alpine Income Property Trust, Inc. (NYSE: PINE) is a publicly traded real estate investment trust that acquires, owns and operates a portfolio of high quality single-tenant net leased properties.

We encourage you to review our most recent investor presentation, available on our website at

Safe harbor

This press release may contain “forward-looking statements”. Forward-looking statements include statements that can be identified by words such as “could”, “could”, “could”, “could”, “will”, “probably”, “anticipate”, “intend”, “Plan”, “seek”, “believe”, “estimate”, “expect”, “continue”, “projects” and similar references to future periods, or by the inclusion of forecasts or projections . Forward-looking statements are based on the Company’s current expectations and assumptions regarding financial 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. Accordingly, the actual results of the Company may differ materially from those contemplated by forward-looking statements. Important factors that could cause actual results to differ materially from those of forward-looking statements include general business and economic conditions, persistent volatility and uncertainty in the credit and broader financial markets, inherent risks real estate activities, including tenant defaults, potential liability related to environmental issues, illiquidity of real estate investments and potential damage from natural disasters, impact of the COVID-19 pandemic on activities of the Company and those of its tenants and the impact on the United States economy and market conditions in general, other factors affecting the activities of the Company or the activities of its tenants which are beyond the control of the Company or of its tenants, and the factors set out under “Risk factors” in the annual report of the Company on Form 10-K for the fiscal year ended December 31, 2020 and other risks and uncertainties discussed from time to time in documents filed by the Company with the US Security and Foreign Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Matthew M. Partridge
Senior Vice-President, Chief Financial Officer and Treasurer
(386) 944-5643

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