BUSINESS SEGMENT DATA (Tables)

3 Months Ended

Mar. 31, 2025

Information about the Company’s operations in different segments for the three months ended March 31, 2025 is as follows (in thousands):


	Income Properties		Commercial Loans and Investments		Total
Revenues:
Lease Income	$	11,826	$	—	$	11,826
Interest Income from Commercial Loans and Investments		—		2,301		2,301
Total Revenues for Reportable Segments		11,826		2,301		14,127

Reconciliation to Consolidated Revenues
Other Revenues						79
Total Consolidated Revenues					$	14,206

Operating Expenses:
Real Estate Expenses		2,034		—		2,034
Total Revenues Less Direct Costs of Revenues		9,792		2,301		12,093
Provision for Impairment		1,824		207		2,031
Depreciation and Amortization		7,307		—		7,307
Total Revenues Less Operating Expenses for Reportable Segments		661		2,094		2,755
Gain on Disposition of Assets		1,151		—		1,151
Net Income From Operations for Reportable Segments		1,812		2,094		3,906

Reconciliation to Consolidated Net Loss
Other Revenues						79
General and Administrative Expenses						(1,716)
Investment and Other Income						45
Interest Expense						(3,592)
Consolidated Net Loss					$	(1,278)

Information about the Company’s operations in different segments for the three months ended March 31, 2024 is as follows (in thousands):


	Income Properties		Commercial Loans and Investments		Total
Revenues:
Lease Income	$	11,464	$	—	$	11,464
Interest Income from Commercial Loans and Investments		—		903		903
Total Revenues for Reportable Segments		11,464		903		12,367

Reconciliation to Consolidated Revenues
Other Revenues						99
Total Consolidated Revenues					$	12,466

Operating Expenses:
Real Estate Expenses		1,928		—		1,928
Total Revenues Less Direct Costs of Revenues		9,536		903		10,439
Provision for Impairment		—		31		31
Depreciation and Amortization		6,382		—		6,382
Net Income From Operations for Reportable Segments		3,154		872		4,026

Reconciliation to Consolidated Net Income
Other Revenues						99
General and Administrative Expenses						(1,542)
Investment and Other Income						69
Interest Expense						(2,935)
Consolidated Net Loss					$	(283)

Capital expenditures of each segment for the three months ended March 31, 2025 and 2024 are as follows (in thousands):


	Three Months Ended
	March 31, 2025		March 31, 2024
Capital Expenditures:
Income Properties	$	39,988	$	1,138
Commercial Loans and Investments		21,383		3,597
Total Capital Expenditures	$	61,371	$	4,735

Identifiable assets of each segment as of March 31, 2025 and December 31, 2024 are as follows (in thousands):


	As of
	March 31, 2025		December 31, 2024
Identifiable Assets:
Income Properties	$	518,366	$	497,765
Commercial Loans and Investments		113,443		92,358
Other Revenue		—		17
Corporate and Other		15,588		14,855
Total Assets	$	647,397	$	604,995

Alpine Income Property Trust, Inc. 10-Q