Alterra IOS announced the closing of $189 million in financing from Blackstone Mortgage Trust. The funding was secured for assets acquired in Alterra’s latest venture. Alterra has now secured more than $1 billion in lender financing for the fund, which closed in May 2024 at $925 million in total commitments, exceeding the original fundraising goal of $750 million and reaching its hard cap.
The funding from Blackstone Mortgage Trust backs 49 IOS sites across 22 states, totaling approximately 235 usable acres.
“We are thrilled to close our first financing with the Blackstone team and to add another leading institution to a growing list of capital providers supporting our IOS platform," said Scott Whittle, CFO at Alterra IOS. “This closing underscores the strength of our portfolio and the continued demand for well-located industrial outdoor storage assets.”
This financing comes on the heels of several transactions for the Alterra team in
