Alpine Income Property Trust, Inc. Upsizes Existing Credit Facility to $150 Million

DAYTONA BEACH, Fla., Oct. 19, 2020 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company” or “PINE”) announced that it has successfully amended and increased the total capacity of its unsecured revolving credit facility (the “Credit Facility”) from $100 million to $150 million. The Credit Facility also includes an accordion option that allows the Company to request additional lender commitments up to a total of $200 million.

“We are pleased to announce the successful increase of our credit facility through the addition of The Huntington National Bank and Truist Bank, which reflects the continued support of our investment strategy and future growth,” commented John P. Albright, President and Chief Executive Officer for Alpine Income Property Trust. “The upsizing of our facility provides us with additional capacity and flexibility for our ongoing working capital needs and future acquisition opportunities.”

The Credit Facility matures in November 2023, with an option to extend the maturity date to November 2024, and is jointly led by BMO Capital Markets Corp. and Raymond James Bank, N.A. The Huntington National Bank and Truist Bank are also participants in the Credit Facility.

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 commercial income properties.

We encourage you to review our most recent investor presentation which is available on our website at .

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