Alterra IOS announced the close of a $150 million loan facility from funds managed by Blue Owl Capital Inc.
The initial funding of the facility was collateralized by 21 properties in 12 states. Subsequent fundings of the loan commitment will support acquisitions for Alterra IOS Venture III, a closed-end fund with $925 million in equity commitments. The deal represents Blue Owl’s first financing in the IOS space.
The facility is backed by 106 usable acres of IOS properties located in key infill markets, including Atlanta, Charleston, Dallas-Fort Worth, Houston, and Phoenix, among others. Nick Scribani and Jordan Roeschlaub of Newmark represented Alterra in the financing.
“We’re excited to complete our first financing with Blue Owl, whose thoughtful and collaborative approach complements the strength of our platform as we continue scaling nationwide,” said Scott Whittle, Chief Financial Officer & Chief Compliance Officer at Alterra IOS.
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