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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_9_30_2022_To_9_30_2022_QJ8OjTHbeEakg8jIRrGqpQ" name="dei:Security12bTitle" id="Tc_xzq3TSPaIEiFtuF1rXjjeA_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_9_30_2022_To_9_30_2022_QJ8OjTHbeEakg8jIRrGqpQ" name="dei:TradingSymbol" id="Tc_MpYFtqv2rEWZfvPchOq2RA_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_9_30_2022_To_9_30_2022_QJ8OjTHbeEakg8jIRrGqpQ" name="dei:SecurityExchangeName" id="Tc_IIBnuuRwFk2KpXJ-F5nstA_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_9_30_2022_To_9_30_2022_QJ8OjTHbeEakg8jIRrGqpQ" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="Narr_ywzAL5Qmp0qQqEHavcmSeQ"><span 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<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;line-height:1.28;margin:0pt 0pt 8pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p><a id="_c0b5ece3_1e69_4c00_90e3_79f5051f27be"></a><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Item 1.01. Entry into a Material Definitive Agreement.</b></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;text-align:justify;margin:0pt;">The information set forth in Item 2.03 of this Current Report on Form 8-K is incorporated by reference into this Item 1.01.</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;"><b style="font-weight:bold;">Item 1.02. Termination of a Material Definitive Agreement.</b></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;">The information set forth in Item 2.03 of this Current Report on Form 8-K is incorporated by reference into this Item 1.02.</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;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</b></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;text-align:justify;margin:0pt;"><i style="font-style:italic;">Amended and Restated Credit Agreement</i></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;">As previously disclosed by Alpine Income Property Trust, Inc. (the &#8220;Company&#8221;) in its Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;) on October 4, 2021, the Company, as parent guarantor, Alpine Income Property OP, LP, as borrower (the &#8220;Borrower&#8221;), and certain subsidiaries of the Company previously entered into a term loan credit agreement, dated as of September 30, 2021, with KeyBank National Association, as administrative agent, and certain other lenders named therein (the &#8220;2027 Term Loan Credit Agreement&#8221;) for a term loan in an aggregate principal amount of $80 million maturing in January 2027 (the &#8220;2027 Term Loan&#8221;).</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;">As previously disclosed by the Company in its Current Report on Form 8-K filed with the SEC on April 18, 2022, on April 14, 2022, the Borrower increased the term loan commitment under the 2027 Term Loan Agreement by $20 million resulting in an aggregate term loan commitment of $100 million.</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 0pt 10pt 0pt;">On September 30, 2022, the Company, as parent guarantor, the Borrower, and certain subsidiaries of the Company entered into an Amended and Restated Credit Agreement, dated as of September 30, 2022, with KeyBank National Association, as administrative agent, and certain other lenders named therein (the &#8220;Amended Credit Agreement&#8221;) which amended and restated the 2027 Term Loan Credit Agreement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;">The Amended Credit Agreement, includes, among other things:</p><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;text-align:justify;"><span style="font-family:'Symbol';">&#183;</span></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;text-align:justify;">the origination of a new revolving credit facility in the amount of $250 million;</p></td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;text-align:justify;"><span style="font-family:'Symbol';">&#183;</span></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;text-align:justify;">an accordion option that allows the Borrower to request additional revolving loan commitments and additional term loan commitments, provided the aggregate amount of revolving loan commitments and term loan commitments shall not exceed $750 million;</p></td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;text-align:justify;"><span style="font-family:'Symbol';">&#183;</span></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;text-align:justify;">the amendment of certain financial covenants; and</p></td></tr></table><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;text-align:justify;"><span style="font-family:'Symbol';">&#183;</span></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;text-align:justify;">the addition of a sustainability-linked pricing component pursuant to which the Borrower will receive interest rate reductions up to 0.025% based on performance against sustainability performance targets.</p></td></tr></table><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;">On September 30, 2022, in connection with the Borrower&#8217;s entry into the Amended Credit Agreement, the Borrower repaid all obligations outstanding under the Credit Agreement, dated as of November 26, 2019, as amended, among the Company, as parent guarantor, the Borrower, and certain subsidiaries of the Company, Bank of Montreal, as administrative agent, and certain other lenders party thereto &#160;(the &#8220;Prior Revolving Credit Facility&#8221;), and the Prior Revolving Credit Facility was terminated and the obligations thereunder discharged.</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;"><i style="font-style:italic;">Second Amendment to 2026 Term Loan Agreement</i></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;">As previously disclosed by the Company in its Current Report on Form 8-K filed with the SEC on May 25, 2021, the Company, as parent guarantor, the Borrower, and certain subsidiaries of the Company previously entered into a term loan credit agreement, dated as of May 21, 2021, with Truist Bank, N.A., as administrative agent, and certain other lenders named therein (the &#8220;2026 Term Loan Credit Agreement&#8221;) for a term loan in an aggregate principal amount of $60 million with a maturity of five years (the &#8220;2026 Term Loan&#8221;).</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></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;">As previously disclosed by the Company in its Current Report on Form 8-K filed with the SEC on April 18, 2022, on April 14, 2022, the Borrower increased the term loan commitment under the 2026 Term Loan Agreement by $40 million resulting in an aggregate term loan commitment of $100 million.</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;">On October 5, 2022, the Company, as parent guarantor, the Borrower, and certain subsidiaries of the Company entered into a Second Amendment to Credit Agreement (the &#8220;Second Amendment&#8221;), which amended the 2026 Term Loan Agreement to, among other things, amend certain financial covenants and add a <span style="color:#333333;">sustainability-linked pricing component </span>consistent with what is contained in the Amended Credit Agreement.</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;">The foregoing summary of the Amended Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the Amended Credit Agreement, a copy of which is filed as Exhibit 10.1, to this Current Report on Form 8-K and is incorporated herein by reference. The foregoing summary of the Second Amendment does not purport to be complete and is qualified in its entirety by reference to the complete text of the Second Amendment, to be filed with the Company&#8217;s Quarterly Report on Form 10-Q for the three months ended September 30, 2022.</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;"><b style="font-weight:bold;">Item 7.01. Regulation FD Disclosure.</b></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;">On October 3, 2022, the Company issued a press release regarding the entry into the Amended Credit Agreement. A copy of the press release is furnished as Exhibit 99.1 to Current Report on Form 8-K.</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;">The furnishing of the press release is not intended to constitute a representation that such furnishing is required by Regulation FD or other securities laws, or that the press release includes material investor information that is not otherwise publicly available. In addition, the Company does not assume any obligation to update such information in the future.</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 0pt 24pt 0pt;">The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed to be &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), or otherwise subject to the liabilities of that Section. The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, unless it is specifically incorporated by reference therein.</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;margin:0pt;"><b style="font-weight:bold;">Item 9.01. Financial Statements and Exhibits</b></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;">(d) Exhibits</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="font-size:12pt;visibility:hidden;">&#8203;</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:middle;width:7.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:1.03%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:3.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:7.43%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:80.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td></tr><tr style="height:1pt;"><td style="vertical-align:middle;width:7.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:7.43%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:80.55%;margin:0pt;padding:0pt;"></td></tr><tr><td colspan="5" style="vertical-align:middle;width:100%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:middle;width:7.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:1.03%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:7.43%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:80.55%;margin:0pt;padding:0pt;"></td></tr><tr><td colspan="3" style="vertical-align:bottom;width:12%;margin:0pt;padding:1.75pt 0pt 1.89pt 1.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Exhibit</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">No.</b></p></td><td style="vertical-align:bottom;width:7.43%;margin:0pt;padding:1.75pt 1.75pt 1.89pt 1.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">&#160;&#160;</p></td><td style="vertical-align:bottom;width:80.55%;margin:0pt;padding:1.75pt 1.75pt 1.89pt 1.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Exhibit Description</b></p></td></tr><tr><td colspan="3" style="vertical-align:bottom;width:12%;margin:0pt;padding:1.75pt 0pt 1.75pt 1.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">&#160;</p></td><td colspan="2" style="vertical-align:bottom;width:87.99%;margin:0pt;padding:1.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">&#160;</p></td></tr><tr><td style="vertical-align:top;width:7.76%;margin:0pt;padding:1.75pt 0pt 1.75pt 1.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">10.1</p></td><td style="vertical-align:bottom;width:1.03%;margin:0pt;padding:1.75pt 0pt 1.75pt 0pt;"></td><td style="vertical-align:bottom;width:3.2%;margin:0pt;padding:1.75pt;"></td><td style="vertical-align:bottom;width:7.43%;margin:0pt;padding:1.75pt;"></td><td style="vertical-align:top;width:80.55%;margin:0pt;padding:1.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><a style="-sec-extract:exhibit;font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="pine-20220930xex10d1.htm"><span style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">Amended and Restated Credit Agreement, dated as of September 30, 2022, among Alpine Income Property, OP, LP, Alpine Income Property Trust, Inc., the other Guarantors from time to time parties thereto, KeyBank National Association, and certain other lenders named therein.</span></a></p></td></tr><tr style="height:2.5pt;"><td style="vertical-align:top;width:7.76%;margin:0pt;padding:1.75pt 0pt 1.75pt 1.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">99.1</p></td><td style="vertical-align:bottom;width:1.03%;margin:0pt;padding:1.75pt 0pt 1.75pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:3.2%;margin:0pt;padding:1.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:7.43%;margin:0pt;padding:1.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:80.55%;margin:0pt;padding:1.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><a style="-sec-extract:exhibit;font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="pine-20220930xex99d1.htm"><span style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">Press release issued October 3, 2022.</span></a></p></td></tr><tr style="height:2.5pt;"><td style="vertical-align:top;width:7.76%;margin:0pt;padding:1.75pt 0pt 1.75pt 1.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">104</p></td><td style="vertical-align:bottom;width:1.03%;margin:0pt;padding:1.75pt 0pt 1.75pt 0pt;"></td><td style="vertical-align:bottom;width:3.2%;margin:0pt;padding:1.75pt;"></td><td style="vertical-align:bottom;width:7.43%;margin:0pt;padding:1.75pt;"></td><td style="vertical-align:top;width:80.55%;margin:0pt;padding:1.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Cover Page Interactive Data File (embedded within the Inline XBRL document)</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</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><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;"><a id="_3e66d209_fc14_4e37_affe_ef1449c9fd85"></a><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 10pt 0pt;"><b style="font-size:11pt;font-weight:bold;">SIGNATURES</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-size:11pt;">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.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;">Date:&#160;October 6, 2022</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;">Alpine Income Property Trust, Inc.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;">By: </span><span style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">/s/ Matthew M. Partridge</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-size:11pt;">Senior&#160;Vice&#160;President,&#160;Chief&#160;Financial&#160;Officer and Treasurer</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-size:11pt;">(Principal Financial Officer)</span></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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[{"type": "8-K", "sequence": "1", "filename": "pine-20220930x8k.htm", "description": "8-K", "secsgml_size_bytes": 53758}]
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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):
September 30, 2022
​
​
​
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.)
​
​
​
​
​
369 N. New York Avenue, Suite 201
Winter Park
,
Florida
32789
(Address of principal executive offices)
(Zip Code)
​
Registrant's Telephone Number, including area code:
(
407
)
904-3324
​
1140 N. Williamson Blvd., Suite 140 Daytona Beach, Florida 32114
(Former name or former address, if changed since last report.)
​
​
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))
​
​
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​
​
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 1.01. Entry into a Material Definitive Agreement.
​
The information set forth in Item 2.03 of this Current Report on Form 8-K is incorporated by reference into this Item 1.01.
​
Item 1.02. Termination of a Material Definitive Agreement.
​
The information set forth in Item 2.03 of this Current Report on Form 8-K is incorporated by reference into this Item 1.02.
​
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
​
Amended and Restated Credit Agreement
​
As previously disclosed by Alpine Income Property Trust, Inc. (the "Company") in its Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (the "SEC") on October 4, 2021, the Company, as parent guarantor, Alpine Income Property OP, LP, as borrower (the "Borrower"), and certain subsidiaries of the Company previously entered into a term loan credit agreement, dated as of September 30, 2021, with KeyBank National Association, as administrative agent, and certain other lenders named therein (the "2027 Term Loan Credit Agreement") for a term loan in an aggregate principal amount of $80 million maturing in January 2027 (the "2027 Term Loan").
​
As previously disclosed by the Company in its Current Report on Form 8-K filed with the SEC on April 18, 2022, on April 14, 2022, the Borrower increased the term loan commitment under the 2027 Term Loan Agreement by $20 million resulting in an aggregate term loan commitment of $100 million.
​
On September 30, 2022, the Company, as parent guarantor, the Borrower, and certain subsidiaries of the Company entered into an Amended and Restated Credit Agreement, dated as of September 30, 2022, with KeyBank National Association, as administrative agent, and certain other lenders named therein (the "Amended Credit Agreement") which amended and restated the 2027 Term Loan Credit Agreement.
The Amended Credit Agreement, includes, among other things:
·
the origination of a new revolving credit facility in the amount of $250 million;
·
an accordion option that allows the Borrower to request additional revolving loan commitments and additional term loan commitments, provided the aggregate amount of revolving loan commitments and term loan commitments shall not exceed $750 million;
·
the amendment of certain financial covenants; and
·
the addition of a sustainability-linked pricing component pursuant to which the Borrower will receive interest rate reductions up to 0.025% based on performance against sustainability performance targets.
​
On September 30, 2022, in connection with the Borrower's entry into the Amended Credit Agreement, the Borrower repaid all obligations outstanding under the Credit Agreement, dated as of November 26, 2019, as amended, among the Company, as parent guarantor, the Borrower, and certain subsidiaries of the Company, Bank of Montreal, as administrative agent, and certain other lenders party thereto  (the "Prior Revolving Credit Facility"), and the Prior Revolving Credit Facility was terminated and the obligations thereunder discharged.
​
Second Amendment to 2026 Term Loan Agreement
​
As previously disclosed by the Company in its Current Report on Form 8-K filed with the SEC on May 25, 2021, the Company, as parent guarantor, the Borrower, and certain subsidiaries of the Company previously entered into a term loan credit agreement, dated as of May 21, 2021, with Truist Bank, N.A., as administrative agent, and certain other lenders named therein (the "2026 Term Loan Credit Agreement") for a term loan in an aggregate principal amount of $60 million with a maturity of five years (the "2026 Term Loan").
​
As previously disclosed by the Company in its Current Report on Form 8-K filed with the SEC on April 18, 2022, on April 14, 2022, the Borrower increased the term loan commitment under the 2026 Term Loan Agreement by $40 million resulting in an aggregate term loan commitment of $100 million.
​
On October 5, 2022, the Company, as parent guarantor, the Borrower, and certain subsidiaries of the Company entered into a Second Amendment to Credit Agreement (the "Second Amendment"), which amended the 2026 Term Loan Agreement to, among other things, amend certain financial covenants and add a
sustainability-linked pricing component
consistent with what is contained in the Amended Credit Agreement.
​
The foregoing summary of the Amended Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the Amended Credit Agreement, a copy of which is filed as Exhibit 10.1, to this Current Report on Form 8-K and is incorporated herein by reference. The foregoing summary of the Second Amendment does not purport to be complete and is qualified in its entirety by reference to the complete text of the Second Amendment, to be filed with the Company's Quarterly Report on Form 10-Q for the three months ended September 30, 2022.
​
Item 7.01. Regulation FD Disclosure.
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On October 3, 2022, the Company issued a press release regarding the entry into the Amended Credit Agreement. A copy of the press release is furnished as Exhibit 99.1 to Current Report on Form 8-K.
​
The furnishing of the press release is not intended to constitute a representation that such furnishing is required by Regulation FD or other securities laws, or that the press release includes material investor information that is not otherwise publicly available. In addition, the Company does not assume any obligation to update such information in the future.
​
The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section. The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, unless it is specifically incorporated by reference therein.
​
Item 9.01. Financial Statements and Exhibits
​
(d) Exhibits
​
​
Exhibit
No.
Exhibit Description
10.1
Amended and Restated Credit Agreement, dated as of September 30, 2022, among Alpine Income Property, OP, LP, Alpine Income Property Trust, Inc., the other Guarantors from time to time parties thereto, KeyBank National Association, and certain other lenders named therein.
99.1
​
​
​
Press release issued October 3, 2022.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
​
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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: October 6, 2022
​
Alpine Income Property Trust, Inc.
​
By:
/s/ Matthew M. Partridge
Senior Vice President, Chief Financial Officer and Treasurer
(Principal Financial Officer)
​
​