Alpine Income Property acquires three-property portfolio for $2.8M

Alpine Income Property (PINE) announced the acquisition of a three-property portfolio for $2.8M, reflecting a weighted average going-in cash yield of 8.5%. The portfolio spans three states – Illinois, Virginia and Louisiana – and totals 8,890 square feet. Two of the properties are net leased to Hardee’s, a national quick-service restaurant chain, while the third is net leased to Jiffy Lube, an automotive services franchise.