Alpine Income Property Trust Completes Acquisition of
13-Property Industrial Portfolio for $117.3 Million

WINTER PARK, Fla., Nov. 02, 2026 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the "Company"), an owner and operator of single-tenant net leased commercial income properties, today announced that it has completed the acquisition of the previously announced 13-property industrial portfolio for $117.3 million, or $63 per square foot. The portfolio totals approximately 1.9 million square feet across 209 acres in 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 built into the leases, this portfolio of mission-critical manufacturing and distribution facilities delivers an attractive initial yield with future cash flow growth," said John P. Albright, President and Chief Executive Officer of Alpine Income Property Trust.

The Company funded the acquisition with borrowings under its revolving credit facility.