Criterion Group and Columbia Pacific Advisors have formed a joint venture for the purpose of acquiring and stabilizing an industrial outdoor storage (IOS) portfolio throughout the United States.
The joint venture is the formalization of an already successful partnership between the two groups. Columbia Pacific Advisors Bridge Lending, a platform within the Seattle-based organization, has been instrumental in the rapid growth and early success of the rapidly expanding portfolio.
The partnership, driven by Criterion Group’s “boots on the ground” style of business, has acquired more than 41 IOS properties totaling 22 million square feet in 11 states for $360 million. The national portfolio of properties brings to market more than 520 acres of land that will be utilized as industrial outdoor storage, which includes equipment yards, fleet storage and logistics support services. With an additional 42 properties in the pipeline, the joint venture plans to double its p
