US industrial outdoor storage real estate fund manager Alterra IOS has secured a $150 million (€129 million) loan commitment from Blue Owl Capital.
Alterra said the loan facility from funds managed by Blue Owl is secured by 21 properties in 12 U.S. states. Subsequent funding from the loan commitment will support acquisitions from the Alterra IOS Venture III fund.
Scott Whittle, CFO and Head of Compliance at Alterra IOS, said: “As institutional recognition of the industrial outdoor storage sector accelerates, transactions like this highlight lenders’ confidence in the long-term performance of the asset class.
“We are excited to finalize our first financing with Blue Owl, whose thoughtful and collaborative approach complements the strength of our platform as we continue to expand nationally.
Jesse Hom, CIO of Blue Owl’s Real Assets Platform, said: “Our investment in Alterra reflects Blue Owl’s focus on working with market-leading operators in resilient, high-growth sectors. We see strong and sustained demand for IOS assets and believe Alterra is well-positioned to lead in this evolving space.”
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