Alpine Income Property Trust, Inc. (NYSE: PINE) announced on 07 Oct 2025 that it had acquired a three‑property portfolio for $2.8 million. The portfolio spans Illinois, Virginia and Louisiana, covers 8,890 sq ft, and includes two net‑leased Hardee’s locations and one net‑leased Jiffy Lube franchise, with a weighted average going‑in cash yield of 8.5%.
The acquisition expands PINE’s single‑tenant net‑lease footprint and adds diversified tenants in the quick‑service restaurant and automotive service sectors. The properties’ high occupancy and credit‑rated tenants align with PINE’s barbell strategy, reinforcing its focus on stable, long‑term income streams while maintaining a diversified portfolio across multiple states.
Financially, the $2.8 million purchase represents a modest addition to PINE’s investment volume, fitting comfortably within its 2025 guidance of $100 million to $130 million in new acquisitions. The 8.5% yield enhances the overall portfolio return profile and supports the REIT’s continued dividend sustainability and shareholder value creation.
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