IOS Daily - July 16 - Alterra IOS secures $400M refi from KeyBank and Truist

NEWS ROUNDUP

FINANCING: Alterra IOS secures $400M refi from KeyBank and Truist. Alterra IOS has secured a $400M refinancing package from KeyBank and Truist Financial for a 99-property IOS portfolio spanning 2.1M SF across 551 AC in 27 states. The financing was structured as an equity pledge rather than traditional property-level mortgages, which will provide greater flexibility for future acquisitions and asset sales. The deal pushes Alterra’s total debt commitments above $2B. Scott Whittle and Kate Mooney led the Alterra deal team. The Truist team included Nadia Mahmoud and Stephanie Rogan, while the KeyBank team was led by Joshua Mayers.

ACQUISITION: Pacific IOS Ventures buys 15 AC IOS in Portland, OR. Pacific IOS Ventures has made its 1st acquisition with the purchase of 10001 North Rivergate Boulevard in Portland, Oregon. The property includes a 75,400 SF industrial building. Andy Martin and Dave Breuner led the Pacific IOS Ventures deal team. Buzz Ellis with JLL, Justin Horowitz with Cooper-Horowitz, and Jerry Matson with Colliers helped facilitate the transaction.

DISPOSITION: Echo West sells IOS portfolio in Phoenix and Denver for $8.1M. Echo West Capital Advisors has facilitated the sale of 2560 East Main Street in Mesa, Arizona, and 858 East 68th Avenue in Denver, Colorado. The portfolio totals roughly 5.3 AC. Nathan Pancrazi, Tim Westfall, and Ryan Moroney with Echo West represented the seller, Western Mixer, in the sale-leaseback deal.

ACQUISITION: IG Logistics buys 5.91 AC IOS in Philadelphia metro for $3.8M. Imperium Capital’s IG Logistics (IGL) has acquired 5810 Bristol Emilie Road in Levittown, Pennsylvania. The property features 45,000 SF of warehouse buildings and is fully leased to QXO. Thomas Mammolito and Daniel Glaser led the IGL deal team.

ACQUISITION: Genesis buys 2.2 AC IOS in South Plainfield, NJ. Genesis LLC has acquired 00 Harmich Road in South Plainfield, New Jersey. Christopher Chiusolo and Kyle Gerace with NAI DiLeo-Bram & Co. represented the seller in the deal, which took only seven weeks to close. Alexander Pryor, Jake Gerber, and Ezra Husney led the Genesis deal team in the transaction.

DISPOSITION: Lee & Associates brokers sale of 2.78 AC IOS in Houston metro to Alterra. Lee & Associates has facilitated the sale of 600 and 610 Aurora Business Park Drive in Conroe, Texas. The property features a 9,900 SF industrial building. The buyer was Alterra IOS, led by Liz Scott, Bo Ricks, and Gavin Weaver. Avery Levy and Mitchell Becker led the L&A deal team.

LEASE SIGNED: Open Industrial leases up 9.4 AC IOS in Tampa area. Open Industrial has fully leased 2000 63rd Avenue in Bradenton, Florida. The property features a 7,720 SF industrial building. Brad Berzins and Olivia Brock with JLL represented Open Industrial in the transaction. Brian Seidel with American Property Group of Sarasota represented the tenant, Recycling Suchel.

READ: Moir Park Capital launches 4th IOS-focused fund.

IOS DEVELOPMENT FOR LEASE

7.55 AC | Fully Paved Class A Facility | Breaking Ground Soon | Potential for Additional Building | Immediately Adjacent to Highway 99

FOR SALE OR LEASE | 4.96 AC | 32,553 SF 60-Door Truck Terminal and Maintenance Facility | Fully Paved Lot With 3 Points of Ingress and Egress | Prime Location Offering Immediate Access to I-70 and Excellent Regional Connectivity | Access to 75% of the US Population within a 1-Day Drive

2.47 AC | 560 SF Office Trailer | 1,600 SF Canopied Shop | Electric and Septic to Site | Seller Financing Available | Frontage on Broadway Road | Proximity to I-17

1.81 AC | Stabilized Yard | Exceptional Freeway Exposure | Secured with Electric Gate | City of Houston Water | Quick Access to Beltway 8, Loop 610, Bush IAH, and Downtown Houston

3.5 AC | Graveled, Fenced, and Lit | Heavy Industrial Zoning | Easy Access to Downtown Greensboro, I-40, US-29, I-73, and I-85 | Heavy Industrial Zoning | RENTAL RATE: $4,250/AC/Mo. (NNN)

4-7 AC | 300 Parking Spaces | Industrial Zoning | Located Just 11 Miles from the Port of Savannah | Easy Access to Highway 21 Corridor | Close to I-16 and I-95

3.25 AC | 4,900 SF Building with 1,100 SF Office | Stabilized and Fenced Yard | 4 Oversized Grade-Level Doors | 1,000 SF Overhang for Covered Storage | 3-Phase Power | I-10 East Highway Frontage and Visibility