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style="font-size:2pt;font-weight:bold;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:2pt;font-weight:bold;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:2pt;font-weight:bold;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:2pt;font-weight:bold;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:2pt;font-weight:bold;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Securities Registered Pursuant to Section 12(b) of the Act </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:4pt;visibility:hidden;">&#8203;</span></p><a id="_d617e5f4_a95b_41b9_a2c1_6dc0c6591f0f"></a><a id="Tc_FtO7ly22Wkygwc4sGtysKA_1_0"></a><a id="Tc_hfy2Rw-rSE6PruXNM_8zMg_1_1"></a><a id="Tc_fLECkdTnN0KOA6faLme7hQ_1_2"></a><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:30.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:top;width:26.6%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:42.56%;margin:0pt;padding:0pt 0pt 0pt 7.19pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:bottom;white-space:nowrap;width:30.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Title of each class</b></p></th><th style="font-weight:normal;text-align:left;vertical-align:top;width:26.6%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Trading Symbol</b></p></th><th style="font-weight:normal;text-align:left;vertical-align:bottom;width:42.56%;margin:0pt;padding:0pt 0pt 0pt 7.19pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Name of each exchange on which registered</b></p></th></tr><tr><td style="vertical-align:bottom;width:30.83%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_12_22_2021_To_12_22_2021__R2qC5XZu0isGOqpezGHKQ" name="dei:Security12bTitle" id="Tc_iJqxZw2PUEyFCGgTrEw8Cg_2_0"><b style="font-weight:bold;">Common Stock, $0.01 Par Value</b></ix:nonNumeric></p></td><td style="vertical-align:top;width:26.6%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_12_22_2021_To_12_22_2021__R2qC5XZu0isGOqpezGHKQ" name="dei:TradingSymbol" id="Tc_3unsSdaEHEWZCnw-m24KrA_2_1"><b style="font-weight:bold;">PINE</b></ix:nonNumeric></p></td><td style="vertical-align:bottom;width:42.56%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><ix:nonNumeric contextRef="Duration_12_22_2021_To_12_22_2021__R2qC5XZu0isGOqpezGHKQ" name="dei:SecurityExchangeName" id="Tc_LvWQO5SD80ybfa71D3A5CQ_2_2"><b style="font-weight:bold;">NYSE</b></ix:nonNumeric></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:4pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule&#160;405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or&#160;Rule&#160;12b-2&#160;of the Securities Exchange Act of 1934&#160;(&#167;240.12b-2&#160;of this chapter).</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 6pt 0pt;"><span style="font-size:10pt;">Emerging growth company&#160;&#160;</span><ix:nonNumeric contextRef="Duration_12_22_2021_To_12_22_2021__R2qC5XZu0isGOqpezGHKQ" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="Narr_3SDzP8V-E0q5fadgYxEecg"><span style="font-family:'Segoe UI Symbol';font-size:10pt;">&#9746;</span></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 6pt 0pt;"><span style="font-size:10pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&#160;13(a)&#160;of the Exchange Act.&#160;&#160;</span><ix:nonNumeric contextRef="Duration_12_22_2021_To_12_22_2021__R2qC5XZu0isGOqpezGHKQ" format="ixt-sec:boolballotbox" name="dei:EntityExTransitionPeriod" id="Narr_3AHdZlmrXEW5XPbaPUR_OA"><span style="font-family:'Segoe UI Symbol';font-size:10pt;">&#9746;</span></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.28;margin:0pt 0pt 8pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:76.47%;border:0;margin:30pt 11.76% 30pt 11.76%;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Item 2.01. Completion of Acquisition or Disposition of Assets.</b></p><a id="_Hlk71802755"></a><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">On December 22, 2021, Alpine Income Property Trust, Inc. (the &#8220;Company&#8221;) completed the acquisition of nine parcels subject to ground leases to nine different retail tenants located in Houston, Texas from a private family office (the &#8220;Seller&#8221;) for an aggregate purchase price of $43.5 million <span style="background:#ffffff;">(the &#8220;GL Portfolio&#8221;)</span>. There is no material relationship between the Company, its subsidiaries or any of its affiliates, or any director or officer of the Company, or any associate of any director or officer of the Company, and the Seller, other than with respect of the Company&#8217;s acquisition of the <span style="background:#ffffff;">GL Portfolio</span>. The acquisition of the <span style="background:#ffffff;">GL Portfolio</span> was funded utilizing cash on hand and availability under the Company&#8217;s unsecured revolving credit facility. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-weight:bold;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Item&#160;9.01. Financial Statements and Exhibits.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">(a)&#160;Financial Statements of Business Acquired</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><span style="font-weight:normal;">The financial statements that are required to be filed pursuant to this item will be filed by amendment no later than 71 days after the date on which this initial Form 8-K is required to be filed. </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">(b)&#160;Pro Forma Financial Information</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><span style="font-weight:normal;">The pro forma financial information that is required to be filed pursuant to this item will be filed by amendment no later than 71 days after the date on which this initial Form 8-K is required to be filed. </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:10pt 0pt 10pt 0pt;"><span style="display:inline-block;text-indent:0pt;width:36pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">(d)</b></span><b style="font-weight:bold;">Exhibits</b></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:5.75pt;padding-right:5.75pt;table-layout:auto;width:100%;"><tr style="height:1pt;"><th style="font-weight:normal;text-align:left;vertical-align:top;width:14.32%;margin:0pt;padding:0pt 5.75pt 0pt 5.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></th><th style="font-weight:normal;text-align:left;vertical-align:top;width:85.67%;margin:0pt;padding:0pt 5.75pt 0pt 5.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></th></tr><tr><th style="font-weight:normal;text-align:left;vertical-align:top;width:14.32%;margin:0pt;padding:0pt 5.75pt 0pt 5.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-weight:bold;border-bottom:1px solid #000000;margin:0pt 0pt 1pt 0pt;"><b style="font-size:9pt;font-weight:bold;">Exhibit No.</b></p></th><th style="font-weight:normal;text-align:left;vertical-align:top;width:85.67%;margin:0pt;padding:0pt 5.75pt 0pt 5.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-weight:bold;border-bottom:1px solid #000000;margin:0pt 0pt 1pt 0pt;"><b style="font-size:9pt;font-weight:bold;">Description</b></p></th></tr><tr><td style="vertical-align:top;width:14.32%;margin:0pt;padding:0pt 5.75pt 0pt 5.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:right;margin:0pt 0pt 1pt 0pt;"><span style="font-size:10pt;white-space:pre-wrap;">      104</span></p></td><td style="vertical-align:top;width:85.67%;margin:0pt;padding:0pt 5.75pt 0pt 5.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;margin:0pt;"><span style="font-size:10pt;">Cover Page Interactive Data File (embedded within the Inline XBRL document)</span></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:12pt;">&#160; </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:12pt;visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:76.47%;border:0;margin:30pt 11.76% 30pt 11.76%;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 10pt 0pt;">SIGNATURES</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:10pt 0pt 10pt 0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:216pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:1pt;margin-top:0pt;">Date: December 29, 2021</p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:1pt;margin-top:0pt;"><b style="font-weight:bold;">Alpine Income Property Trust, Inc.</b></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 1pt 216pt;"><span style="margin-left:0pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 1pt 216pt;">By:<span style="display:inline-block;width:21.55pt;"></span><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">/s/ Matthew M. Partridge</span><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;"><span style="display:inline-block;overflow:hidden;position:relative;text-align:justify;text-align-last:justify;text-decoration:underline;text-indent:0pt;vertical-align:bottom;white-space:normal;width:115.46pt;">&#8203; &#8203;<span style="display:inline-block;height:0pt;width:100%;"></span></span></span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 1pt 216pt;">Matthew M. Partridge,</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 1pt 216pt;">Senior Vice President, Chief Financial Officer and</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 1pt 216pt;">Treasurer</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
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{"company-data": {"conformed-name": "Alpine Income Property Trust, Inc.", "cik": "0001786117", "assigned-sic": "6798", "irs-number": "000000000", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-39143", "film-number": "211529726"}, "business-address": {"street1": "1140 N. WILLIAMSON BOULEVARD", "street2": "SUITE 140", "city": "DAYTONA BEACH", "state": "FL", "zip": "32114", "phone": "386-274-2202"}, "mail-address": {"street1": "1140 N. WILLIAMSON BOULEVARD", "street2": "SUITE 140", "city": "DAYTONA BEACH", "state": "FL", "zip": "32114"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
8-K
​
​
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
​
Date of Report (Date of earliest event reported):
December 22, 2021
​
​
​
ALPINE INCOME PROPERTY TRUST, INC.
(Exact name of registrant as specified in its charter)
​
​
​
​
​
Maryland
Commission File Number
001-39143
84-2769895
(State or other jurisdiction of
incorporation or organization)
​
(I.R.S. Employer
Identification No.)
​
​
​
​
​
1140 N. Williamson Blvd.
,
Suite 140
Daytona Beach
,
Florida
32114
(Address of principal executive offices)
(Zip Code)
​
Registrant's Telephone Number, including area code
(
386
)
274-2202
​
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
​
​
​
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
​
​
​
​
​
Securities Registered Pursuant to Section 12(b) of the Act
​
​
​
​
Title of each class
Trading Symbol
Name of each exchange on which registered
Common Stock, $0.01 Par Value
PINE
NYSE
​
​
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☒
​
​
​
Item 2.01. Completion of Acquisition or Disposition of Assets.
On December 22, 2021, Alpine Income Property Trust, Inc. (the "Company") completed the acquisition of nine parcels subject to ground leases to nine different retail tenants located in Houston, Texas from a private family office (the "Seller") for an aggregate purchase price of $43.5 million
(the "GL Portfolio")
. There is no material relationship between the Company, its subsidiaries or any of its affiliates, or any director or officer of the Company, or any associate of any director or officer of the Company, and the Seller, other than with respect of the Company's acquisition of the
GL Portfolio
. The acquisition of the
GL Portfolio
was funded utilizing cash on hand and availability under the Company's unsecured revolving credit facility.
​
​
Item 9.01. Financial Statements and Exhibits.
(a) Financial Statements of Business Acquired
The financial statements that are required to be filed pursuant to this item will be filed by amendment no later than 71 days after the date on which this initial Form 8-K is required to be filed.
(b) Pro Forma Financial Information
The pro forma financial information that is required to be filed pursuant to this item will be filed by amendment no later than 71 days after the date on which this initial Form 8-K is required to be filed.
(d)
Exhibits
Exhibit No.
Description
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
​
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: December 29, 2021
Alpine Income Property Trust, Inc.
​
By:
/s/ Matthew M. Partridge
​ ​
Matthew M. Partridge,
Senior Vice President, Chief Financial Officer and
Treasurer
​
​