Alpine me Property Trust(PINE) - 2024 Q1 - Earnings Call Transcript
Alpine me Property Trust(PINE)2024-04-20 01:10
The initial yield on our loan investment was 11.3%, and the cash cap rate for our land acquisition was 7.3%. The loan investment made during the quarter was to provide a $7.2 million of funding with a two-year term towards a six pad retail development anchored by Chick-fil-A in a growing sub-market of Atlanta, Georgia. Considering our book value is over $18 per share, and in the past year we have repurchased almost a million shares or over 6% of our company's capitalization at an average price of approximat ...