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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_p-ytIuzW-Eu5EQB1LgY45g_1_0"></a><a id="Tc_DPP5oQ9yCkWBI3pvbkzBVA_1_1"></a><a id="Tc__hPRD4Xr1k6kGk7bvzLK4A_1_2"></a><table 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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_4_14_2022_To_4_14_2022_Sk3r3SkFhUSpXSBUGHOi9g" name="dei:Security12bTitle" id="Tc_dU_gpJbOXkuv7k1m_tF_YA_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_4_14_2022_To_4_14_2022_Sk3r3SkFhUSpXSBUGHOi9g" name="dei:TradingSymbol" id="Tc_DAHznWMzDEGy8kHu9gDiUw_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_4_14_2022_To_4_14_2022_Sk3r3SkFhUSpXSBUGHOi9g" name="dei:SecurityExchangeName" id="Tc_SryR0donaEST8kSVTWeqJQ_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;text-align:justify;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;text-align:justify;margin:0pt 0pt 6pt 0pt;"><span style="font-size:10pt;">Emerging growth company&#160;&#160;</span><ix:nonNumeric contextRef="Duration_4_14_2022_To_4_14_2022_Sk3r3SkFhUSpXSBUGHOi9g" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="Narr__C9809JxuUOSpGLKcWC9Dg"><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;text-align:justify;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_4_14_2022_To_4_14_2022_Sk3r3SkFhUSpXSBUGHOi9g" format="ixt-sec:boolballotbox" name="dei:EntityExTransitionPeriod" id="Narr_YrI89mwqgUGLQbO34UMwqg"><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;margin:0pt;"><b style="font-size:11pt;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="font-size:11pt;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-size:11pt;">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.</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;text-align:justify;margin:0pt;"><b style="font-size:11pt;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="font-size:11pt;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-size:11pt;">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 May 25, 2021, the Company, as parent guarantor, Alpine Income Property OP, LP, as borrower (the &#8220;Borrower&#8221;), and certain subsidiaries of the Company 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;). Subject to certain terms and conditions set forth in the 2026 Term Loan Credit Agreement, the Borrower may request up to three incremental term loan commitments in an aggregate amount not to exceed $100 million (the &#8220;2026 Term Loan Accordion Feature&#8221;).</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-size:11pt;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-size:11pt;">On April 14, 2022, the Borrower exercised a portion of the 2026 Term Loan Accordion Feature by entering into the Amendment, Increase and Joinder to the 2026 Term Loan Credit Agreement (the &#8220;2026 Term Loan Amendment&#8221;), which increased the term loan commitment under the 2026 Term Loan by $40 million to an aggregate of $100 million. Following such exercise, and subject to certain terms and conditions set forth in the 2026 Term Loan Credit Agreement, the Borrower may request additional lender commitments under the 2026 Term Loan of up to an additional $60 million.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-size:11pt;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-size:11pt;">As previously disclosed by the Company in its Current Report on Form 8-K filed with the SEC on October 4, 2021, the Company, as parent guarantor, the Borrower, and certain subsidiaries of the Company 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;). Subject to certain terms and conditions set forth in the 2027 Term Loan Credit Agreement, the Borrower may request up to three incremental term loan commitments in an aggregate amount not to exceed $120 million (the &#8220;2027 Term Loan Accordion Feature&#8221;).</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-size:11pt;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-size:11pt;">On April 14, 2022, the Borrower exercised a portion of the 2027 Term Loan Accordion Feature by entering into the Amendment, Increase and Joinder to the 2027 Term Loan Credit Agreement (the &#8220;2027 Term Loan Amendment&#8221;), which increased the term loan commitment under the 2027 Term Loan by $20 million to an aggregate of $100 million. Following such exercise, and subject to certain terms and conditions set forth in the 2027 Term Loan Credit Agreement, the Borrower may request additional lender commitments under the 2027 Term Loan of up to an additional $120 million.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-size:11pt;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-size:11pt;">The aggregate proceeds received of $60 million were used to pay down the Company&#8217;s revolving credit facility.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-size:11pt;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-size:11pt;">The foregoing summaries of the 2026 Term Loan Credit Agreement, 2026 Term Loan Amendment, 2027 Term Loan Credit Agreement and 2027 Term Loan Amendment do not purport to be complete and are qualified in their entirety by reference to the 2026 Term Loan Credit Agreement, 2026 Term Loan Amendment, 2027 Term Loan Credit Agreement and 2027 Term Loan Amendment, copies of which are filed as Exhibits 10.1, 10.2, 10.3 and 10.4, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-size:11pt;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-size:11pt;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;"><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;font-weight:bold;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-size:11pt;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="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;">(d) Exhibits</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><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:7.75%;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:1.05%;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:7.45%;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:80.52%;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><td colspan="5" style="vertical-align:middle;width:100%;margin:0pt;padding:0pt;"></td></tr><tr><td style="vertical-align:middle;width:7.75%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:1.05%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:3.2%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:7.45%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:80.52%;margin:0pt;padding:0pt;"></td></tr><tr><td colspan="3" style="vertical-align:bottom;width:12.01%;border-bottom:1px solid #000000;margin:0pt;padding:1.5pt 0pt 1.5pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:11pt;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-size:11pt;font-weight:bold;">No.</b></p></td><td style="vertical-align:bottom;width:7.45%;border-bottom:1px solid transparent;margin:0pt;padding:1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;">&#160;&#160;</span></p></td><td style="vertical-align:bottom;width:80.52%;border-bottom:1px solid transparent;margin:0pt;padding:1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-size:11pt;font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Exhibit Description</b></p></td></tr><tr><td colspan="3" style="vertical-align:bottom;width:12.01%;margin:0pt;padding:1.5pt 0pt 1.5pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;">&#160;</span></p></td><td colspan="2" style="vertical-align:bottom;width:87.98%;margin:0pt;padding:1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;">&#160;</span></p></td></tr><tr><td style="vertical-align:top;width:7.75%;margin:0pt;padding:1.5pt 0pt 1.5pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:11pt;">10.1</span></p></td><td style="vertical-align:bottom;width:1.05%;margin:0pt;padding:1.5pt 0pt 1.5pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:3.2%;margin:0pt;padding:1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:7.45%;margin:0pt;padding:1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:80.52%;margin:0pt;padding:1.5pt;"><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;;font-size:11pt;" href="https://www.sec.gov/Archives/edgar/data/0001786117/000155837021007720/tmb-20210519xex10d2.htm"><span style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">Credit Agreement, dated as of May 21, 2021, among Alpine Income Property, OP, LP, Alpine Income Property Trust, Inc., the other Guarantors from time to time parties thereto, Truist Bank, N.A., and certain other lenders named therein (incorporated by reference to Exhibit 10.2 to the Company&#8217;s Current Report on Form 8-K filed on May 25, 2021).</span></a></p></td></tr><tr><td style="vertical-align:top;width:7.75%;margin:0pt;padding:1.5pt 0pt 1.5pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:11pt;">10.2</span></p></td><td style="vertical-align:bottom;width:1.05%;margin:0pt;padding:1.5pt 0pt 1.5pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:3.2%;margin:0pt;padding:1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:7.45%;margin:0pt;padding:1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:80.52%;margin:0pt;padding:1.5pt;"><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;;font-size:11pt;" href="pine-20220414xex10d2.htm"><span style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">Amendment, Increase and Joinder to Credit Agreement, dated as of April 14, 2022, among Alpine Income Property, OP, LP, Alpine Income Property Trust, Inc., the other Guarantors from time to time parties thereto, Truist Bank, N.A., and certain other lenders named therein.</span></a></p></td></tr><tr style="height:2.5pt;"><td style="vertical-align:top;width:7.75%;margin:0pt;padding:1.5pt 0pt 1.5pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:11pt;">10.3</span></p></td><td style="vertical-align:bottom;width:1.05%;margin:0pt;padding:1.5pt 0pt 1.5pt 0pt;"></td><td style="vertical-align:bottom;width:3.2%;margin:0pt;padding:1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;">&#160;</span></p></td><td style="vertical-align:bottom;width:7.45%;margin:0pt;padding:1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;">&#160;&#160;</span></p></td><td style="vertical-align:top;width:80.52%;margin:0pt;padding:1.5pt;"><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;;font-size:11pt;" href="https://www.sec.gov/Archives/edgar/data/1786117/000155837021013355/pine-20210930xex10d1.htm"><span style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">Credit Agreement, dated as of September 30, 2021, among Alpine Income Property, OP, LP, Alpine Income Property Trust, Inc., the other Guarantors from time to time parties thereto, the Lenders from time to time parties thereto, and KeyBank National Association (incorporated by reference to Exhibit 10.1 to the Company&#8217;s Quarterly Report on Form 10-Q filed on October 21, 2021).</span></a></p></td></tr><tr style="height:2.5pt;"><td style="vertical-align:top;width:7.75%;margin:0pt;padding:1.5pt 0pt 1.5pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:11pt;">10.4</span></p></td><td style="vertical-align:bottom;width:1.05%;margin:0pt;padding:1.5pt 0pt 1.5pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:3.2%;margin:0pt;padding:1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:7.45%;margin:0pt;padding:1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:80.52%;margin:0pt;padding:1.5pt;"><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;;font-size:11pt;" href="pine-20220414xex10d4.htm"><span style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">Amendment, Increase and Joinder to Credit Agreement, dated as of April 14, 2022, among Alpine Income Property, OP, LP, Alpine Income Property Trust, Inc., the other Guarantors from time to time parties thereto, the Lenders from time to time parties thereto, and KeyBank National Association.</span></a></p></td></tr><tr style="height:2.5pt;"><td style="vertical-align:top;width:7.75%;margin:0pt;padding:1.5pt 0pt 1.5pt 1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><span style="font-size:11pt;">104</span></p></td><td style="vertical-align:bottom;width:1.05%;margin:0pt;padding:1.5pt 0pt 1.5pt 0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:3.2%;margin:0pt;padding:1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:7.45%;margin:0pt;padding:1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:11pt;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:80.52%;margin:0pt;padding:1.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-size:11pt;">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;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="font-size:12pt;visibility:hidden;">&#8203;</span></p><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><p style="font-family:'Times New 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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;font-weight:bold;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;April 15, 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;white-space:pre-wrap;">/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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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported):
April 14, 2022
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ALPINE INCOME PROPERTY TRUST, INC.
(Exact name of registrant as specified in its charter)
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Maryland
Commission File Number
001-39143
84-2769895
(State or other jurisdiction of
incorporation or organization)
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(I.R.S. Employer
Identification No.)
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1140 N. Williamson Blvd., Suite 140
Daytona Beach
,
Florida
32114
(Address of principal executive offices)
(Zip Code)
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Registrant's Telephone Number, including area code
(
386
)
274-2202
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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:
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☐
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
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Title of each class
Trading Symbol
Name of each exchange on which registered
Common Stock, $0.01 Par Value
PINE
NYSE
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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.
☒
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Item 1.01. Entry into a Material Definitive Agreement.
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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.
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Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
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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 May 25, 2021, the Company, as parent guarantor, Alpine Income Property OP, LP, as borrower (the "Borrower"), and certain subsidiaries of the Company 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"). Subject to certain terms and conditions set forth in the 2026 Term Loan Credit Agreement, the Borrower may request up to three incremental term loan commitments in an aggregate amount not to exceed $100 million (the "2026 Term Loan Accordion Feature").
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On April 14, 2022, the Borrower exercised a portion of the 2026 Term Loan Accordion Feature by entering into the Amendment, Increase and Joinder to the 2026 Term Loan Credit Agreement (the "2026 Term Loan Amendment"), which increased the term loan commitment under the 2026 Term Loan by $40 million to an aggregate of $100 million. Following such exercise, and subject to certain terms and conditions set forth in the 2026 Term Loan Credit Agreement, the Borrower may request additional lender commitments under the 2026 Term Loan of up to an additional $60 million.
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As previously disclosed by the Company in its Current Report on Form 8-K filed with the SEC on October 4, 2021, the Company, as parent guarantor, the Borrower, and certain subsidiaries of the Company 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"). Subject to certain terms and conditions set forth in the 2027 Term Loan Credit Agreement, the Borrower may request up to three incremental term loan commitments in an aggregate amount not to exceed $120 million (the "2027 Term Loan Accordion Feature").
​
On April 14, 2022, the Borrower exercised a portion of the 2027 Term Loan Accordion Feature by entering into the Amendment, Increase and Joinder to the 2027 Term Loan Credit Agreement (the "2027 Term Loan Amendment"), which increased the term loan commitment under the 2027 Term Loan by $20 million to an aggregate of $100 million. Following such exercise, and subject to certain terms and conditions set forth in the 2027 Term Loan Credit Agreement, the Borrower may request additional lender commitments under the 2027 Term Loan of up to an additional $120 million.
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The aggregate proceeds received of $60 million were used to pay down the Company's revolving credit facility.
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The foregoing summaries of the 2026 Term Loan Credit Agreement, 2026 Term Loan Amendment, 2027 Term Loan Credit Agreement and 2027 Term Loan Amendment do not purport to be complete and are qualified in their entirety by reference to the 2026 Term Loan Credit Agreement, 2026 Term Loan Amendment, 2027 Term Loan Credit Agreement and 2027 Term Loan Amendment, copies of which are filed as Exhibits 10.1, 10.2, 10.3 and 10.4, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.
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Item 9.01. Financial Statements and Exhibits
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(d) Exhibits
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Exhibit
No.
Exhibit Description
10.1
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Credit Agreement, dated as of May 21, 2021, among Alpine Income Property, OP, LP, Alpine Income Property Trust, Inc., the other Guarantors from time to time parties thereto, Truist Bank, N.A., and certain other lenders named therein (incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K filed on May 25, 2021).
10.2
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Amendment, Increase and Joinder to Credit Agreement, dated as of April 14, 2022, among Alpine Income Property, OP, LP, Alpine Income Property Trust, Inc., the other Guarantors from time to time parties thereto, Truist Bank, N.A., and certain other lenders named therein.
10.3
Credit Agreement, dated as of September 30, 2021, among Alpine Income Property, OP, LP, Alpine Income Property Trust, Inc., the other Guarantors from time to time parties thereto, the Lenders from time to time parties thereto, and KeyBank National Association (incorporated by reference to Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q filed on October 21, 2021).
10.4
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Amendment, Increase and Joinder to Credit Agreement, dated as of April 14, 2022, among Alpine Income Property, OP, LP, Alpine Income Property Trust, Inc., the other Guarantors from time to time parties thereto, the Lenders from time to time parties thereto, and KeyBank National Association.
104
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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: April 15, 2022
​
Alpine Income Property Trust, Inc.
​
By:
/s/ Matthew M. Partridge
Senior Vice President, Chief Financial Officer and Treasurer
(Principal Financial Officer)
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