Hunton Andrews Kurth LLP represented the sales agents in connection with the commencement of Alpine Income Property Trust, Inc.’s (“Alpine”) 8.00% Series A Cumulative Redeemable Preferred Stock at-the-market program (“preferred stock ATM program”). Hunton also represented the sales agents in connection with the bringdown of CTO Realty Growth, Inc.’s (“CTO”) $250 million common stock at-the-market program (“common stock ATM program”). CTO is the sole member of Alpine’s external manager, Alpine Income Property Manager, LLC, and CTO owns approximately 16.1% of Alpine’s outstanding equity.

Pursuant to Alpine’s preferred stock ATM program, Alpine may offer and sell up to $35 million of shares of Alpine’s 8.00% Series A Cumulative Redeemable Preferred Stock from time to time through or to the sales agents.

Pursuant to CTO’s common stock ATM program, CTO may offer and sell up to $250 million of shares of the CTO’s common stock from time to time through or to the sales agents.

Alpine Income Property Trust, Inc. (NYSE: PINE) is a publicly traded real estate investment trust that seeks to deliver attractive risk-adjusted returns and dependable cash dividends by investing in, owning, and operating a portfolio of single tenant net leased commercial income properties that are predominantly leased to high-quality publicly traded and credit-rated tenants.

CTO Realty Growth, Inc. (NYSE: CTO) is a publicly traded real estate investment trust that owns and operates a portfolio of high-quality, retail-based properties located primarily in higher growth markets in the United States. CTO, based in Winter Park, Florida, has structured this offering to provide flexibility in capital raising, which may be utilized for various corporate purposes.

The Hunton team advising on the transactions was led by partners Rob Smith and Kate Saltz and included associates Casey Shaw, Elizabeth Pathan and Claire Andress. Tax advice was provided by partner Kendal Sibley, senior attorney Patrick Tricker, and associate Sarah Colborn.