Photo by Shutterstock

DAYTONA BEACH, FL—Consolidated-Tomoka Land Co. has invested $38.8 million in Alpine Income Property Trust, Inc., (PINE) and its affiliates, resulting in an ownership stake of approximately 22.3% through its investment in PINE’s IPO and through the sale and contribution of a portfolio of 20 single-tenant net lease income properties.

The deal, for 15 of the 20 properties, resulted in the locally-based company receiving approximately $125.9 million, which it intends to redeploy in income property investments through the 1031 like-kind exchange structure.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


GlobeSt Net Lease Fall 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.