**Alterra IOS Secures $343.6M Loan Commitment from Truist and Bank of Montreal**
Alterra IOS has successfully closed a $343.6 million loan facility arranged by Truist Financial Corporation and the Bank of Montreal. The financing was secured across 64 Industrial Outdoor Storage (IOS) properties spanning 22 states. This transaction was executed on behalf of Alterra IOS Venture II, a closed-end fund with $524 million in equity commitments.
“This transaction highlights the value of Alterra’s continued partnership with Truist and Bank of Montreal, both of which worked closely with us to address our needs and objectives from a lending perspective,” said Scott Whittle, Chief Financial Officer of Alterra IOS. “This commitment underscores institutional lenders’ growing confidence in the underlying fundamentals of the IOS asset class.”
The new facility is backed by 580 usable acres of IOS properties located in key logistics and industrial markets such as Atlanta, Chicago, Dallas-Fort Worth, and Houston. The financing will refinance maturing loans and improve overall borrowing costs across Alterra’s portfolio. Chad Orcutt of JLL represented Alterra in the transaction.
This latest loan follows a recent $189 million commitment originated by Blackstone Mortgage Trust, further reinforcing Alterra’s strong positioning in the IOS investment space.
