Alterra IOS Announces Close of $150M Loan Commitment from Funds Managed by Blue Owl Capital Inc.
PHILADELPHIA, Oct. 28, 2025 (GLOBE NEWSWIRE) -- Alterra IOS ("Alterra"), a prominent player in the industrial outdoor storage ("IOS") sector that has acquired over 400 sites nationwide, today announced the successful close of a $150 million loan facility from funds managed by Blue Owl Capital Inc. ("Blue Owl") (NYSE:OWL). The initial funding of the facility was collateralized by 21 properties in 12 states. Subsequent fundings of the loan commitment will support acquisitions for Alterra IOS Venture III, a closed-end fund with $925 million in equity commitments. The deal represents Blue Owl's first financing in the IOS space.
"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, Chief Financial Officer & Chief Compliance Officer at Alterra IOS. "We're excited to complete our first financing with Blue Owl, whose thoughtful and collaborative approach compliments the strength of our platform as we continue scaling nationwide."
"Our investment in Alterra reflects Blue Owl's focus on working with market-leading operators in high-growth, resilient sectors," said Jesse Hom, Chief Investment Officer for Blue Owl's Real Assets platform. "We see strong, sustained demand for IOS assets and believe Alterra is well positioned to lead in this evolving space."
The facility is backed by 106 usable acres of IOS properties located in key infill markets, including Atlanta, Charleston, Dallas-Fort Worth, Houston, and Phoenix, among others. Nick Scribani and Jordan Roeschlaub of Newmark (NASDAQ:NMRK) represented Alterra in the financing. "Alterra IOS sought a creative financing solution for its continued growth through acquisitions, and we are proud to have helped establish this strategic relationship between a nimble institutional lender and the industry's preeminent IOS owner-operator," Scribani commented.
This latest financing comes on the heels of several significant funding transactions for the Alterra team 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. Alterra has raised more than $1.5 billion in institutional financing across its discretionary ventures, Alterra IOS Venture II ($524 million) and Venture III ($925 million), complementing $1.45 billion in equity raised for its closed-end funds.
Alterra IOS has acquired more than 400 properties across 37 states as of October 2025, reinforcing its position as the industry's leading institutional buyer in a historically fragmented and undercapitalized asset class. As a vertically integrated investor, developer, and operator of IOS, Alterra is uniquely positioned to serve companies in search of national connectivity to store equipment, machinery, vehicle fleets, shipping containers, building materials, retail inventory, and more. Alterra's investment strategy focuses on acquiring prime IOS locations within dense, infill logistics and transportation gateways, ensuring proximity to critical infrastructure and end-users.
About Alterra IOS
Alterra's industrial real estate platform, Alterra IOS, is dedicated to providing real estate solutions through property acquisition, development, management & leasing for tenants in the heavy industrial & outdoor storage space. Focused on low-building coverage sites with large, stabilized yard space to accommodate an array of uses such as vehicle, material, and equipment storage, Alterra brings an institutional comprehension of the municipal & logistical complexities in securing mission-critical real estate for the often-overlooked sectors of the U.S. industrial landscape. Over the past six years, Alterra IOS has created tenant relationships in the transportation & logistics, vehicle storage, equipment rental, and building materials industries through the acquisition or development of over 400 properties across 37 states as of Q3 2025. The dedicated team of investment, development, construction, and asset management professionals provide tenants the resources to grow and improve their businesses through site selection, development, and/or sale-leaseback transactions.
About Blue Owl
Blue Owl (NYSE:OWL) is a leading asset manager that is redefining alternatives®.
With over $284 billion in assets under management as of June 30, 2025, we invest across three multi-strategy platforms: Credit, Real Assets and GP Strategic Capital. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.
Together with approximately 1,300 experienced professionals globally, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com
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