Alterra IOS Secures $150M Loan Facility from Blue Owl Capital
Alterra IOS has closed a $150 million loan facility from funds managed by Blue Owl Capital Inc., marking Blue Owl’s first financing in the industrial outdoor storage (IOS) sector. The initial funding is collateralized by 21 IOS properties across 12 states, with subsequent fundings to support acquisitions for Alterra IOS Venture III, a closed-end fund with $925 million in equity commitments.
The facility is secured by 106 usable acres of IOS assets located in key infill markets such as Atlanta, Charleston, Dallas–Fort Worth, Houston, and Phoenix, among others. Nick Scribani and Jordan Roeschlaub of Newmark represented Alterra in arranging the financing.
“As institutional recognition of the industrial outdoor storage sector accelerates, transactions like this highlight the confidence lenders have in the long-term performance of the asset class,” said Scott Whittle, CFO and CCO at Alterra IOS.
This latest financing follows a string of significant transactions for Alterra in 2025, including a $343 million loan originated in Q3 2025 by Truist Financial Corp. and Bank of Montreal, and a $189 million loan in Q1 2025 from Blackstone Mortgage Trust. To date, Alterra IOS has raised more than $1.5 billion in institutional financing across its discretionary ventures—Venture II ($524 million) and Venture III ($925 million)—complementing an additional $1.45 billion in equity raised for its closed-end funds.
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