Alpine Income Property increases revolver capacity to $150 million

By Taylor Fox

New York, Oct. 19 – Alpine Income Property Trust, Inc. amended and increased the total capacity of its unsecured revolving credit facility to $150 million from $100 million, according to a news release.

The credit facility also includes an accordion option that allows Alpine to request additional lender commitments up to a total of $200 million.

“The upsizing of our facility provides us with additional capacity and flexibility for our ongoing working capital needs and future acquisition opportunities,” said Alpine president and chief executive officer John. P. Albright.

The facility will mature in November 2023, with an option to extend the maturity date to November 2024.

BMO Capital Markets Corp. and Raymond James Bank, NA were joint leaders on the facility.

The Huntington National Bank and Truist Bank are participants in the credit facility.

Alpine is a real estate investment trust based in Daytona Beach, Fla.

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