Open Industrial and Heitman have formed a new partnership to recapitalize a 25-property, 105-acre industrial outdoor storage (IOS) portfolio. The portfolio comprises mission-critical sites located in infill submarkets near major transportation nodes and population centers across Virginia, Maryland, North Carolina, and South Carolina, supporting last-mile logistics, equipment rental, construction services, and other essential operations.
In addition to the recapitalization, the partnership plans to scale its footprint in the highly fragmented IOS sector, with over $200 million of equity targeted for deployment across the recapitalization and new IOS investments over the next 12 months.
“This partnership marks an important milestone for Open Industrial as we continue to expand into one of the most compelling and undersupplied segments of real estate,” said Michael Rabin, CEOof Open Industrial. “Partnering with Heitman positions our data-driven, vertically integrate
