WINTER PARK, Fla., March  05, 2026  (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE:PINE) (the &#34;Company&#34;) today announced the origination of a $32.0 million first mortgage loan investment (the &#34;Loan&#34;), of

PINE

Alpine Income Property Trust Announces $32.0 Million First Mortgage Loan Investment

PINE finances $32 million loan for retail development in Georgia

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>WINTER PARK, Fla., March  05, 2026  (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE:PINE) (the &amp;#34;Company&amp;#34;) today announced the origination of a $32.0 million first mortgage loan investment (the &amp;#34;Loan&amp;#34;), of</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Alpine Income Property Trust, Inc. (PINE) announced a $32 million first mortgage loan to fund a significant retail center development in Georgia, expected to enhance cash flow and portfolio value. With a 13% interest rate, the loan&#039;s favorable terms may positively influence PINE&#039;s future performance and growth outlook.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>PINE originated a $32 million mortgage loan investment.</li><li>Loan has a 24-month term at 13% interest initially.</li><li>Investment funds development of a new retail center in Georgia.</li><li>Project includes national tenants like Target and Publix.</li><li>Expected to improve PINE&#039;s overall portfolio and cash flow.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Target Corporation (TGT)</strong>: Presence in the development may attract more shoppers.</li><li><strong>Publix Super Markets, Inc. (PUSH)</strong>: Stable tenant that enhances development&#039;s attractiveness.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This event fits the &#039;Corporate Developments&#039; category as it highlights PINE&#039;s strategic investment approach to enhance its portfolio and income generation capabilities, indicating a proactive growth strategy.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>The $32 million loan investment strengthens PINE&#039;s portfolio.</li><li>Projected rental income from new tenants could enhance cash flow.</li><li>Strategic location near Atlanta increases potential retail traffic.</li><li>Successful loan execution may bolster investor confidence in PINE.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>PINE&#039;s loan amount is $32 million, with $8.6 million funded at close.</li><li>Loan term is 24 months with an initial interest rate of 13%.</li><li>The retail center spans 101,000 square feet on 11 acres.</li><li>Target and Publix are major tenants in the retail development.</li><li>Project located in Covington Town Center, near Atlanta.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>PINE is likely to see short-term price appreciation driven by this strategic investment.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="justify">WINTER PARK, Fla., March  05, 2026  (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PINE">PINE</a>) (the "Company") today announced the origination of a $32.0 million first mortgage loan investment (the "Loan"), of which $8.6 million was funded at close. The Loan carries a 24-month term with an interest rate of 13.00%, inclusive of 1.5% paid-in-kind interest, stepping down to 11.50% current pay upon the borrower's satisfaction of certain conditions.</p>  <p align="justify">The Loan will fund the development of an 11-acre, 101,000-square-foot retail center with national investment grade tenants and three outparcels, all of which constitute the Company's collateral. The retail center also includes a 128,500-square-foot Target currently in development and is adjacent to an existing Publix, creating a varied merchandising mix. The development is located within the 180-acre Covington Town Center master plan in Newton County, Georgia, approximately 35 miles from Atlanta and Hartsfield-Jackson International Airport.</p>  <p align="justify"><strong><u>About Alpine Income Property Trust, Inc.</u></strong> </p>  <p align="justify">Alpine Income Property Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PINE">PINE</a>) 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 predominately leased to high-quality publicly traded and credit-rated tenants. The Company also complements its income property portfolio by strategically investing in a select portfolio of commercial loan investments intended to deliver an attractive risk-adjusted return.</p>  <p align="justify">We encourage you to review our most recent investor presentation which is available on our website at <a href="https://www.globenewswire.com/Tracker?data=uZ49IV9LHe3n19jQPUxJgmpUqSvyF08VUhjFyq5A7BpcccqnAEkAFUpxhrFUPLP2WCu1WqQOVlLCNIoighVE67BviMWjPxWyIkCeKYvVFME=" rel="nofollow" target="_blank">http://www.alpinereit.com</a>.</p>  <p><strong><u>Safe Harbor</u></strong> </p>  <p align="justify">This press release may contain "forward-looking statements." Forward-looking statements include statements that may be identified by words such as "outlook," "could," "may," "might," "will," "likely," "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "continues," "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 capital 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. As a result, the Company's actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include general business and economic conditions, continued volatility and uncertainty in the credit markets and broader financial markets, tariffs and international trade policies, risks inherent in the real estate business, including tenant or borrower defaults, potential liability relating to environmental matters, credit risk associated with the Company investing in commercial loans and investments, illiquidity of real estate investments and potential damages from natural disasters, the impact of epidemics or pandemics on the Company's business and the businesses of its tenants and borrowers and the impact of such epidemics or pandemics on the U.S. economy and market conditions generally, other factors affecting the Company's business or the businesses of its tenants and borrowers that are beyond the control of the Company or its tenants or borrowers, and the factors set forth under "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 and other risks and uncertainties discussed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTY2NjA1NyM3NDY4MzgyIzUwMDA2OTQ4Ng=="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/MWE4YjM5Y2QtOGJlNy00YzdiLTlmYWMtMzhlNWIwYWNhZjc4LTUwMDA2OTQ4Ni0yMDI2LTAzLTA1LWVu/tiny/Alpine-Income-Property-Trust.png" referrerpolicy="no-referrer-when-downgrade"></img><pre>Contact:
Investor Relations
ir@alpinereit.com</pre><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/1d61cb85-c61a-40e1-ab6a-557e6cfea984"><img src="https://ml.globenewswire.com/media/1d61cb85-c61a-40e1-ab6a-557e6cfea984/small/alpine-logo-cmyk-jpg.jpg" border="0" width="150" height="54" alt="Primary Logo"></img></a></p>

Alpine Income Property Trust, Inc. (PINE) announced a $32 million first mortgage loan to fund a significant retail center development in Georgia, expected to enhance cash flow and portfolio value. With a 13% interest rate, the loan's favorable terms may positively influence PINE's future performance and growth outlook.

Alpine Income Property Trust Announces $32.0 Million First Mortgage Loan Investment

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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