National industrial outdoor storage leader, Alterra IOS, secures $100M credit facility from BMO

Alterra IOS (“Alterra”), a prominent player in the industrial outdoor storage (“IOS”) sector that has acquired over 400 sites nationwide, today announced the closing of a $100 million fund-level revolving credit facility from BMO. The facility is structured to complement the pace of Alterra’s acquisition pipeline and demonstrates BMO’s ability to provide flexible financing that supports the continued growth of the IOS sector.

“As the institutionalization of the industrial outdoor storage sector continues to scale, it requires financing solutions that can move as quickly as the assets themselves, and this facility does exactly that,” said Scott Whittle, Chief Financial Officer at Alterra IOS. “We value BMO’s ongoing partnership and willingness to design a tailored structure that supports our acquisition strategy and the continued expansion of our national footprint.”

“Our most recent investment with Alterra is a continuation of our strong existing relationship and was designed to fit the specific needs of their fast-growing platform,” said Kim Liautaud, Head, Real Estate and Infrastructure at BMO Commercial Bank. “We’re proud to back Alterra’s next stage of growth with a financing approach that fits the evolution of this asset class.”

At closing, the facility will be initially backed by 27 IOS properties across 17 states, with asset allocations subject to change over time. This flexible structure streamlines capital deployment and equips Alterra with resources to support its robust, high-volume acquisition pipeline and expanding portfolio of IOS assets.

The latest financing comes on the heels of several significant funding transactions for the Alterra team in 2025, including a $150 million loan facility from funds managed by Blue Owl Capital Inc. (“Blue Owl”) during Q4 2025 and a $343 million loan originated in Q3 2025 by Truist Financial Corp. and Bank of Montreal. Alterra has raised more than $1.6 billion in institutional financing across its discretionary ventures, Alterra IOS Venture II ($524 million) and Venture III ($925 million), complementing $1.45 billion in equity raised for its closed-end funds.

Alterra IOS has acquired more than 400 properties across 37 states as of December 2025, reinforcing its position as the industry’s leading institutional buyer in a historically fragmented and undercapitalized asset class. As a vertically integrated investor, developer, and operator of IOS, Alterra is uniquely positioned to serve companies in search of national connectivity. Alterra’s investment strategy focuses on acquiring prime IOS locations within dense, infill logistics and transportation gateways, ensuring proximity to critical infrastructure and end-users.