Triten Real Estate Partners & TPG Angelo Gordon announce additional $1B in initial joint venture for IOS assets

Triten Real Estate Partners and TPG Angelo Gordon today announced a significant upsize in their initial joint venture, positioning to acquire more than $1 billion in additional industrial outdoor storage (IOS) assets over the next five years.

Triten and TPG Angelo Gordon originally teamed up in 2020 to develop an IOS portfolio with geographic and tenant diversification. Since its inception, the programmatic joint venture has acquired over $500 million of IOS assets across 16 markets, averaging 18 new acquisitions yearly since 2020.

“In 2017, we saw an opportunity to transform the fragmented IOS asset class into a compelling portfolio with limited capital expenditure needs and an attractive yield,” said Scott Arnoldy, founding partner at Triten Real Estate Partners. “This additional investment signifies our continued commitment to the IOS asset class.”

Leader in real estate development, investment, and operations, Triten manages over 3 million square feet of property through acquisitions and development, supporting over 350 tenants across all properties nationwide.

“Our partnership with Triten has been a remarkable journey,” says Matt Lazar, managing director for TPG Angelo Gordon. “As one of the early operators in the space, Triten has taken an extremely thoughtful approach to grow our portfolio from 3 properties in Atlanta to over 60 properties in 16 markets over the last 4 years. We are excited to continue working with Triten and the new commitment shows our long-term view of IOS as an asset class.”

TPG Angelo Gordon is a diversified credit and real estate investing platform within TPG, a leading global alternative asset management firm.