Alterra IOS has closed on a $343.6 million loan facility arranged by Truist Financial Corp. and Bank of Montreal. The financing, secured across 64 IOS properties in 22 states, was executed on behalf of Alterra IOS Venture II, a closed-end fund with $524 million of equity commitments.
“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, Alterra IOS CFO. “This commitment underscores institutional lenders’ growing confidence in the underlying fundamentals of the IOS asset class.”
“Alterra’s strategic aggregation of IOS locations aligns with our view of the long-term growth drivers supporting this asset class,” said Kim Liautaud, head, U.S. commercial real estate, BMO. “We believe Alterra has built a differentiated platform well-positioned to meet the enduring demand for IOS as
