Alpine Completes $50 Million Follow-On Offering

Real Estate

Alpine follow-on offering


Summary

Alpine Income Property Trust, Inc. (“Alpine” or the “Company”) (NYSE: PINE) recently completed a follow-on offering of 2,800,000 shares of common stock at a price of $17.80 per share, generating gross proceeds of approximately $49.8 million. The Company intends to use the proceeds to repay amounts outstanding under the Company’s credit facility and for general corporate and working capital purposes, which may include funding property acquisitions.

Baird served as a bookrunner on this offering.

About

Alpine Income Property Trust, Inc. is a publicly traded real estate investment trust (“REIT”) that acquires, owns and operates a portfolio of high-quality net leased commercial income properties. As of March 31, 2021 the Company owned 53 net leased retail and office properties located in 38 markets in 19 states. Alpine is headquartered in Daytona Beach, Florida.
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Real Estate

Alpine follow-on offering

Date
June 2021
Company
Alpine Income Property Trust, Inc.
Transaction
Equity Capital Markets
Sectors
Real Estate
Target Location
North America

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