Alex Fagan's questions to Alpine Income Property Trust Inc (PINE) leadership • Q4 2024
Question
Alex Fagan of Baird asked whether PINE plans to sell or re-lease the vacant Party City and Cinemark properties and inquired about any termination income received from the failed theater sale.
Answer
CEO John Albright explained that while re-leasing and then selling would offer the best execution, the company is leaning toward a quicker monetization to redeploy the capital sooner for the benefit of shareholders. He also confirmed they received a small amount of termination income from the theater deal but released some of the escrow back to the buyer due to an extreme health issue.