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Alterra IOS, a nationwide real estate company, has recently announced the successful closing of $189 million in financing from Blackstone Mortgage Trust Inc. This funding was secured for assets acquired in Alterra’s latest venture and brings their total lender financing to over $1 billion.
The financing was facilitated by Justin Horowitz of Cooper Horowitz, who worked with Alterra IOS Venture III to market and source the funding. The fund closed in May 2024 at $925 million, surpassing its original goal of $750 million and reaching its hard cap.
Blackstone Mortgage Trust provided backing for 49 sites across 22 states totaling approximately 235 usable acres. This comes after several significant transactions for Alterra in 2024, including the sale of a portfolio consisting of institutional-grade assets to Peakstone Realty Trust for $490 million.
Scott Whittle, Chief Financial Officer for Alterra IOS expressed excitement about this new partnership with Blackstone stating that it adds another leading institution to their list of capital providers supporting their growing IOS platform.
This news was originally reported on Connect CRE.
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