Deal Details
Alpine Completes $142.5 Million Initial Public Offering
Summary
Alpine Income Property Trust, Inc. (“Alpine” or the “Company”) (NYSE: PINE) recently completed an initial public offering of 7,500,000 shares of common stock at an offering price of $19.00 per share, generating gross proceeds of approximately $142.5 million. The Company intends to use the net proceeds from the offering to fund future acquisitions and for general corporate purposes. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 1,125,000 shares of common stock at the initial public offering price.
Baird served as an active bookrunning manager on this offering.
About
Alpine is a newly organized real estate company that owns and operates a high quality portfolio of single-tenant commercial properties that are primarily net leased on a long-term basis and located primarily in major metropolitan statistical areas and in growth markets in the United States. The Company is externally managed and advised by Alpine Income Property Manager, LLC, a wholly-owned subsidiary of Consolidated-Tomoka Land Co., or CTO, a diversified real estate operating company that is publicly traded on the NYSE American under the symbol “CTO.” The Company is headquartered in Daytona Beach, Florida.CONTACT US TO LEARN MORE
- Date
- November 2019
- Company
- Alpine Income Property Trust, Inc.
- Transaction
- Equity Capital Markets
- Sectors
- Real Estate
- Verticals
-
Real Estate
- Target Geography
- North America
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