
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.