PHILADELPHIA, PA — Alterra IOS said it has closed a $100 million fund-level revolving credit facility with BMO, strengthening its balance sheet as competition accelerates across the industrial outdoor storage sector.
The facility is structured to align with the pace of Alterra’s acquisition pipeline, providing flexible capital designed to support rapid deal execution as the IOS asset class continues to attract institutional investment.
Chief Financial Officer Scott Whittle said the financing reflects the evolving needs of the sector, where transaction speed has become critical. He described the facility as a tailored solution that supports Alterra’s acquisition strategy and expanding national footprint.
BMO said the transaction builds on an existing relationship and was designed specifically for Alterra’s operating model. Kim Liautaud, head of real estate and infrastructure at BMO Commercial Bank, said the structure reflects the changing profile of IOS assets as they move further into the institutional mainstream.
At closing, the revolving facility is backed by 27 industrial outdoor storage properties across 17 states, with collateral allocations expected to evolve as the portfolio grows. The structure is intended to streamline capital deployment and support a high-volume acquisition strategy.
The credit line follows a series of major financing transactions completed by Alterra in 2025. Those included a $150 million loan facility from funds managed by Blue Owl Capital during the fourth quarter and a $343 million loan originated in the third quarter by Truist Financial Corp. and Bank of Montreal. In total, the firm has raised more than $1.6 billion in institutional financing across its discretionary ventures, alongside $1.45 billion in equity capital for its closed-end funds.
As of December 2025, Alterra IOS had acquired more than 400 properties across 37 states, cementing its position as a leading institutional buyer in what has historically been a fragmented and undercapitalized segment of the industrial real estate market. The company’s strategy centers on acquiring infill IOS sites near major logistics and transportation corridors, positioning its portfolio to serve tenants seeking national connectivity and proximity to critical infrastructure.
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