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Blackstone Mortgage Trust Provides $189M Financing to Alterra IOS

Blackstone Mortgage Trust Provides $189M Financing to Alterra IOS

Blackstone Mortgage Trust provided a $189 million financing package for Alterra Property Group’s industrial real estate platform, Alterra IOS. The funding will support 49 industrial outdoor storage (IOS) sites across 22 states, totaling about 235 acres. The financing backs Alterra IOS Venture III, which closed in 2024 with $925 million in commitments, surpassing its original $750 million target.

“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 for Alterra IOS.

Alterra IOS has established itself as one of the nation’s largest IOS owners, with over 300 properties across 36 states. The company serves businesses requiring storage for equipment, machinery, vehicle fleets, shipping containers, and building materials.

Cooper Horowitz arranged the financing.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.