Alpine Income closes new term loan and expands revolving credit capacity

Alpine Income Property Trust ($PINE) closed financing arrangements adding a $100 million term loan due in October 2030 and increasing revolving credit commitments by $75 million. The revolver now provides $325 million of capacity, up from $250 million. Management said the combined $175 million increase in potential liquidity would support future acquisitions and improve funding flexibility.

The property trust moved $100 million of existing interest-rate swaps from the revolver to the new term loan, producing an initial effective fixed rate of approximately 4.6% at its current leverage ratio. Half those swaps expire in January 2027 and the remainder in March 2028, so that rate is not locked for the loan’s entire life. The revolver expansion represents committed borrowing capacity rather than evidence that all additional funds have already been drawn.

Sources:

• GlobeNewswire
• Issuer release or filing via StockTitan