PHILADELPHIA, PA — Alterra IOS has closed a major $343.6 million loan facility arranged by Truist Financial Corp. (NYSE: TFC) and Bank of Montreal (NYSE: BMO), further solidifying its position as a leader in the industrial outdoor storage (IOS) sector.
The financing, secured across 64 IOS properties spanning 22 states, was executed on behalf of Alterra IOS Venture II, a closed-end fund with $524 million in equity commitments. The properties underpinning this facility cover a substantial 580 usable acres, concentrated in key logistics markets such as Atlanta, Chicago, Dallas-Fort Worth, and Houston.
“This transaction highlights the value of Alterra’s continued partnership with Truist and Bank of Montreal, both of which worked closely with us to address our needs and objectives from a lending perspective,” said Scott Whittle, Chief Financial Officer at Alterra IOS. “This commitment underscores institutional lenders’ growing confidence in the underlying fundamentals of the IOS asset class.”
The new facility refinances maturing loans and enhances overall borrowing costs across Alterra’s portfolio, strengthening the firm’s financial foundation as it scales its operations.
Kim Liautaud, Head of U.S. Commercial Real Estate at BMO, praised Alterra’s strategic approach, emphasizing the long-term growth potential of the IOS sector and the platform’s differentiated model. Meanwhile, Nadia Mahmoud, Managing Director at Truist, highlighted Alterra’s ability to create value through its vertically integrated ownership and operational strategies.
This latest transaction follows a $189 million loan originated earlier in 2025 by Blackstone Mortgage Trust (NYSE: BXMT), secured by 49 IOS properties totaling approximately 235 acres as part of Alterra IOS Venture III.
To date, Alterra has raised over $1.5 billion in institutional financing, supported by $1.45 billion in equity across its closed-end funds: Alterra IOS Venture II and Venture III.
JLL Capital Markets, represented by Chad Orcutt, advised Alterra on the financing, ensuring competitive terms and a strategic alignment with the company’s growth trajectory.
As demand for logistics and outdoor storage facilities continues to rise, Alterra’s latest financing underscores both the resilience of the asset class and the company’s strong market position — signaling further expansion and investment opportunities ahead.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.