Winter Park-based Alpine Income Property Trust, Inc. (NYSE: PINE) has announced the acquisition of a three-property portfolio worth $2.8 million, with the deal reflecting a weighted average going-in cash yield of 8.5%.

The assets, spread across Illinois, Virginia and Louisiana, collectively span 8,890 square feet. According to the company, two of the properties are net leased to Hardee’s, the national quick-service restaurant brand, while the third is net leased to Jiffy Lube, a leading automotive services franchise.

Commenting on the acquisition, Alpine Income Property Trust said the transaction fits within its strategy of building a diversified portfolio of single-tenant net leased commercial income properties anchored by established tenants.

The company, which is listed on the New York Stock Exchange under the ticker PINE, focuses on investments leased predominantly to publicly traded and credit-rated businesses. Its stated aim is to generate dependable cash dividends alongside risk-adjusted returns for shareholders.

Alpine highlighted that its growing portfolio continues to expand across different regions of the United States. The latest deal highlights its approach of targeting long-term net lease arrangements with well-known national operators.

The announcement comes at a time of continued activity in the net lease market, where investors seek predictable income streams from tenants with strong brand recognition.

About Alpine Income Property Trust, Inc.

Alpine Income Property Trust, Inc. (NYSE: PINE) is a publicly traded real estate investment trust that seeks to deliver attractive risk-adjusted returns and dependable cash dividends by investing in, owning and operating a diversified portfolio of single tenant net leased commercial income properties that are predominantly leased to high-quality publicly traded and credit-rated tenants.