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Income Property Portfolio

Alpine Income Property Trust, Inc. (NYSE: PINE) is a newly organized real estate company that owns and operates a high-quality portfolio of single-tenant commercial properties, all of which are leased on a long-term basis and located primarily in or in close proximity to major metropolitan statistical areas. Properties representing approximately 85% of PINE’s initial portfolio’s annualized base rent as of May 27, 2020 are leased on a triple-net basis.  PINE intends to elect to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes. Currently the company has 31 income properties totaling approximately 1,360,267 square feet, located in 13 states across the U.S.

7-Eleven

Freddy’s Frozen Custard  & Steakhouse

Long John Silver’s

BP

TenantTypeIndustryMSACredt Rating (1)Rentable Square Feet (2)ABR% (3)Remaining Lease Term (4)
Wells FargoOfficeFinancial ServicesPortland-Vancouver-Hillsboro, OR-WAA+2118630.195.6
Hilton-MetroWestOfficeHospitalityOrlando-Kissimmee-Sanford, FLBB+1020190.116.5
LA FitnessRetailFitnessTampa-St. Petersburg-Clearwater, FLCCC+450000.0611.9
Hobby LobbyRetailLeisure RetailTulsa, OKN/A841800.0510.6
Container StoreRetailHome ImprovementPhoenix-Mesa-Scottsdale, AZB-233290.049.8
At HomeRetailHome GoodsRaleigh, NCCCC+1163340.0412.3
Century TheaterRetailEntertainmentReno, NVBB-524740.044.3
Hilton-CambridgeOfficeHospitalityOrlando-Kissimmee-Sanford, FLBB+318950.046.5
Alpine ValleyRetailEntertainmentWhitewater-Elkhorn, WIBB--0.0414.8
Hobby LobbyRetailLeisure RetailWinston-Salem, NCN/A550000.039.8
AMCRetailEntertainmentBoston-Cambridge-Newton, MA-NHCCC-394740.0312.8
Dicks Sporting GoodsRetailLeisure RetailAtlanta-Sandy Springs-Roswell, GAN/A463150.033.7
Jo-Ann StoresRetailLeisure RetailBoston-Cambridge-Newton, MA-NHCCC225000.038.7
Conn'sRetailConsumer ElectronicsDallas-Fort Worth-Arlington, TXB379570.0311.3
Old Time PotteryRetailHome GoodsJacksonville, FLN/A841800.0310.2
7-ElevenRetailConvenience StoreAustin-Round Rock, TXAA-64000.0214.8
WalgreensRetailPharmacyBirmingham-Hoover, ALBBB145160.028.8
WalgreensRetailPharmacyAtlanta-Sandy Springs-Roswell, GABBB151200.025.4
Best BuyRetailConsumer ElectronicsAtlanta-Sandy Springs-Roswell, GABBB300380.025.8
Cross America (BP)RetailConvenience StoreCincinnati, OH-KY-INN/A25780.0210.5
OutbackRetailCasual DineCharlottesville, VABB-72160.0211.3
7-ElevenRetailConvenience StoreAustin-Round Rock, TXAA-77260.0214.9
WalgreensRetailPharmacyAlbany, GABBB147700.0212.7
OutbackRetailCasual DineCharlotte-Concord-Gastonia, NC-SCBB-62970.0111.3
Scrubbles (Goo-Goo)RetailCar WashJacksonville, FLN/A45120.0117.4
CheddarsRetailCasual DineJacksonville, FLBBB-81460.017.3
Family DollarRetailDiscountBoston-Cambridge-Newton, MA-NHBBB-92280.013.8
Freddy's Frozen CustardRetailQSRJacksonville, FLN/A32000.016.5
Long John SilversRetailQSRTulsa, OKN/A3,000 0%0.0
Total/Weighted Average1,085,267 100%8.78

(1) Tenant, or tenant parent, credit rated entity
(2) Ground Leases; rentable SF for both assets is RSF for vertical building -Rentable SF Total and annualized base rent per SF exclude Alpine Valley Music Theatre
(3) Annualized Base Rent as of May 27, 2020
(4) Remaining Lease Term calculated as of May 27, 2020