Alpine Income Property (PINE) acquired a 6,529-square foot retail property in downtown Aspen, Colorado for $10.0M at an initial cap rate of 8.5% with 1.25% annual escalators. The acquisition was structured as a 50-year absolute triple net master lease with an established commercial real estate firm that specializes in retail project leasing. The property benefits from an average household income of $187,000 within a five-mile radius.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PINE:
- Alpine Income Property reports annual investment activity of $277.7M
- UK’s $49 Billion R&D Plan Puts Quantum Tech on Investors’ Radar
- Alpine Income Property Trust Expands Preferred Stock Offering
- Alpine Income Property price target raised to $19 from $17.50 at Stifel
- Alpine Income Property acquires three properties in Richmond, VA for $20.7M