05:59 PM EDT, 09/04/2025 (MT Newswires) -- Alpine Income Property Trust ( PINE ) said late Thursday it sold its former Century Theater Center in Reno, Nevada, for $5 million.

As part of the transaction, the company provided $4 million in seller financing with a two-year term at an 8% annual interest rate.

Chief Executive John Albright said the sale is expected to be accretive to earnings by removing the property's carrying costs and will increase Alpine's portfolio occupancy to 99.4%.