Alpine Income Property Trust, Inc. (PINE) Sells Its Former Century Theater Center in Reno, Nevada, for $5.0 Million

Alpine Income Property Trust, Inc. (NYSE:PINE) is one of the 20 Best Stocks to Buy and Hold for a Lifetime, known for its significant dividend growth.

With $4.0 million in seller financing at 8% interest over two years, Alpine Income Property Trust, Inc. (NYSE:PINE) sold its former Century Theater Center in Reno, Nevada, for $5.0 million on September 4, 2025. The theater left the 52,474-square-foot property in November 2024, leaving it largely empty. The transaction improves portfolio occupancy to 99.4% and lowers carrying costs, both of which increase earnings.

Separately, Alpine Income Property Trust, Inc. (NYSE:PINE) created a $24 million first mortgage loan with an 11% interest rate spread over 24 months to finance the conversion of a 127,380-square-foot building in East Bay, San Francisco, into an industrial space aimed at tenants in the fields of technology, life sciences, manufacturing, and logistics. Alpine Income Property Trust has made $109.9 million in structured investments and acquisitions so far this year, yielding an initial cash yield of 9.5% on average.

The single-tenant net-leased commercial properties owned and operated by Alpine Income Property Trust, Inc. (NYSE:PINE) are primarily leased to publicly traded and credit-rated tenants. It is one of the best stocks to buy.

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