secwatch.observer — SEC 8-K summary
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Issuer:     Alpine Income Property Trust, Inc. (PINE)
CIK:        0001786117
Form:       8-K
Filed at:   2021-07-02T23:59:59+00:00
Accession:  0001558370-21-008758
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alpine acquires two net-lease property portfolios from CTO for $56M total, assumes $30M debt
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- On June 30, 2021, completed CMBS Portfolio acquisition of six properties for $44.5M.
- On April 23, 2021, completed single property acquisition in North Richland Hills, TX for $11.5M.
- Assumed $30M loan at 4.33% fixed rate, maturing Oct 2034; prepayable without penalty from Oct 2024.
- Issued 424,951 OP units as partial consideration; CTO owned ~15.8% of PINE at filing.
- Pro forma net income for 2020 would have been $1.88M vs. actual $0.99M (basic EPS $0.25 vs. $0.13).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1786117/000155837021008758/0001558370-21-008758-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1786117/000155837021008758/tmb-20210630x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-21-008758

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer