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Alternative Assets  + Real Estate  |  February 19, 2025
Blackstone Mortgage Trust Provides $189M Financing to Alterra IOS
Joe Palmisano
By: Joe Palmisano

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.

Read More News Stories About: Blackstone
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Blackstone Mortgage TrustAlterra IOS

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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