Alpine Income Property Trust Completes Acquisition of 13-Property Industrial Portfolio for $117.3 Million
Alpine Income Property Trust completed its previously announced acquisition of a 13-property industrial portfolio for $117.3 million, or $63 per square foot. The 1.9 million square foot portfolio spans 11 states and is 100% leased to nine tenants under absolute triple-net leases with 10.2 years of weighted average remaining lease term and annual rent escalators.
Key figures
- Deal Value Usd
- 117300000
- States
- 11
- Tenants
- 9
- Financing
- revolving credit facility
- Occupancy
- 100% leased
- Properties
- 13
- Portfolio square feet
- 1.9 million
- Price per square foot
- $63
- Weighted average remaining lease term years
- 10.2
AI analysis
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