Deal Details
PINE Completes Preferred Equity Offering
Summary
Alpine Income Property Trust, Inc. (“PINE” or the “Company”) (NYSE: PINE) recently completed a public offering of 2,000,000 shares of the Company’s 8.00% Series A Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share, at a public offering price of $25.00 per share. The Company received gross proceeds of $50 million from the sale of the Series A Preferred Stock before deducting the underwriting discount and other estimated offering expenses. The Company also granted the underwriters a 30-day option to purchase up to an additional 300,000 shares of the Series A Preferred Stock to cover over-allotments, if any. PINE intends to use the net proceeds from the offering for general corporate and working capital purposes, which may include property acquisitions, commercial loan and investment opportunities and repayment of debt.
Baird served as an active bookrunner on this offering.
About
Alpine Income Property Trust, Inc. 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. PINE is headquartered in Winter Park, Florida.- Date
- November 2025
- Company
- Alpine Income Property Trust, Inc.
- Transaction
- Equity Capital Markets
- Sectors
- Real Estate
- Verticals
-
Real Estate
- Target Geography
- North America
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