PGIM Provides $103M Credit Facility to Alterra IOS Secured By 23 U.S. Assets
Alterra IOS has secured a $103 million credit facility from PGIM, backed by 23 industrial outdoor storage properties and earmarked to fund future acquisitions.
The facility, provided by PGIM’s real estate credit arm, is secured by 23 IOS properties across 18 U.S. markets and marks Alterra’s first debt financing with PGIM. Justin Horowitz of Cooper-Horowitz arranged the transaction.
PGIM’s partnership underscores growing confidence in IOS as a durable, long-term asset class.Scott Whittle, CFO, Alterra (via Commercial Observer)
PGIM’s Justin Levitt noted the sector is benefiting from surging tenant demand and a shortage of new supply, particularly across vacant or underutilized sites in dense urban markets. The deal adds to the rapid institutionalization of IOS as a recognized asset class.
Source: Commercial Observer, “PGIM Provides $103M Credit Facility to Alterra IOS Secured By 23 U.S. Assets,” by Brian Pascus, March 9, 2026.
