Alterra IOS Announces Investment from Almanac
Alterra IOS has received a passive, minority investment from Almanac, the private real estate arm of Neuberger, to support its rapidly growing industrial outdoor storage platform.
The strategic minority investment, made into Alterra’s management entity, is intended to fuel continued expansion and further institutionalize IOS as an asset class. Alterra is the nation’s largest owner and manager of IOS assets, having acquired more than 450 properties across 38 states. Berkshire Global Advisors advised Alterra on the transaction.
IOS continues to outperform and has proven to be very resilient in downturns. This investment enables Alterra to build on our existing capabilities and further strengthen our leadership position in the growing IOS market.Matthew Pfeiffer, Managing Partner & CIO, Alterra
Almanac — a Neuberger business unit that has committed more than $8.9 billion to 59 real estate companies — brings permanent capital and a track record of scaling real estate managers. The investment underscores rising institutional confidence in IOS, driven by e-commerce and infrastructure demand against structurally constrained supply.
Source: Alterra IOS press release, February 25, 2026.
