Alpine Income Property Trust Reports 19% Revenue Growth but Net Loss in Q2 2025

Alpine Income Property Trust, Inc. reported its financial results for the second quarter of 2025, revealing a total revenue of $14.9 million, a 19% increase from $12.5 million in the same period last year. The growth was primarily driven by a 6.1% rise in lease income, which reached $12.0 million, and a significant increase in interest income from commercial loans and investments, which surged to $2.7 million from $1.0 million. However, the company experienced a net loss of $1.8 million for the quarter, compared to a net income of $0.2 million in the prior year, largely due to increased operating expenses and a substantial provision for impairment of $2.8 million.

In the first half of 2025, Alpine's total revenues amounted to $29.1 million, up 16.5% from $25.0 million in the same period of 2024. Lease income increased by 4.6% to $23.8 million, while interest income from commercial loans and investments rose dramatically by 166.7% to $5.0 million. Despite this revenue growth, the company reported a net loss of $3.1 million for the six months ended June 30, 2025, compared to a loss of $0.1 million in the previous year. The increase in net loss was attributed to higher interest expenses and a significant rise in impairment charges.

Operationally, Alpine Income Property Trust continued to expand its portfolio, acquiring three properties for a total cost of $39.9 million during the first half of 2025. The company also sold eight properties for $28.2 million, generating gains of $2.1 million. As of June 30, 2025, the company owned 129 properties across 34 states, with a total gross leasable area of 3.9 million square feet and an occupancy rate of 98%. The company’s commercial loan investments portfolio had a carrying value of $110.9 million, reflecting its strategy to diversify income sources.

The company’s financial position showed total assets of $628.4 million as of June 30, 2025, an increase from $605.0 million at the end of 2024. Long-term debt rose to $352.6 million, up from $301.5 million, as the company utilized debt to finance acquisitions and investments. The company reported cash and cash equivalents of $5.0 million, alongside restricted cash of $7.1 million. Looking ahead, Alpine Income Property Trust expressed confidence in its liquidity and capital resources, supported by available capacity under its credit facility and ongoing operational cash flow, positioning itself for continued growth in the commercial real estate sector.