**Alterra IOS Secures $189M Financing from Blackstone Mortgage Trust**
Alterra IOS, which has acquired over 300 sites nationwide, has announced the closing of $189 million in financing from Blackstone Mortgage Trust Inc.
Justin Horowitz of Cooper Horowitz worked with Alterra IOS Venture III to market and source the financing. The funding was secured for assets acquired in Alterra’s latest venture. With this latest deal, Alterra has now secured over $1 billion in lender financing for the fund, which closed in May 2024 at $925 million in total commitments—exceeding its original fundraising goal of $750 million and reaching its hard cap.
The financing from Blackstone Mortgage Trust supports 49 IOS sites across 22 states, covering approximately 235 usable acres. This follows a series of major transactions for Alterra in 2024, including the sale of an institutional-grade portfolio of 51 IOS assets to Peakstone Realty Trust in November for $490 million.
“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, Chief Financial Officer for Alterra IOS.
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Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax (www.griffintax.com) and REVVED Up Accounting (www.revvedupaccounting.com). In addition, Steve founded Madison Avenue Technology (www.madisonave.tech). With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.
