Alpine Income Property Trust, Inc. announced that it has entered into an agreement to provide a $24.0 million first mortgage (the ?Loan?) secured by 41 retail properties located throughout the United States (the ?Portfolio?). The three-year Loan was fully funded at closing and is interest-only through maturity. The Loan includes an origination fee and bears an initial fixed interest rate of 8.75% for the first year, before increasing to 9.0% in year two and 9.25% in year three.

The Company also announced that is has entered into a first mortgage construction loan agreement to provide $6.8 million of funding towards the development of a 5-acre land development project anchored by Wawa and McDonalds in a submarket of Nashville, Tennessee. The two-year first mortgage is interest-only through maturity, includes an origination fee, and bears an initial fixed interest rate of 11.0%.