Firm at Center of US Industrial Outdoor Storage Expansion Adds 11 Properties

Alterra IOS has acquired an 11-property industrial outdoor storage portfolio across the country, capping a year of major financing deals.

A property at 777 Doheny Drive in Northville, Michigan. Photo: CoStar.

The portfolio spans markets including Chicago, Houston, San Francisco and northern New Jersey, totaling 31.6 usable acres. It is leased to Jack Doheny Companies, an equipment-rental firm based in Northville, Michigan; the sale price was not disclosed.

“This portfolio is representative of our core thesis — acquiring well-positioned industrial outdoor storage assets with grade-level warehouses and supportive IOS zoning.” — Mark Gannon, SVP of Acquisitions, Alterra IOS (via CoStar)

The deal followed a year of headline financings for the Philadelphia-based investor — including $189 million from Blackstone Mortgage Trust, nearly $344 million from Truist and the Bank of Montreal, and a $150 million loan from Blue Owl — as the once-obscure sector gained mainstream institutional attention.