Leo Addimando Of Alterra IOS Secures $103 Million Loan From PGIM For Industrial Portfolio

The transaction involves an acquisition loan for a 23-asset industrial outdoor storage portfolio located across 18 U.S. markets. The total loan amount secured is $103 million, specifically tailored for the acquisition of the industrial assets. The lender for this transaction is PGIM, which is known for its real estate credit business.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $103,000,000
• Lender: PGIM
• Landlord: Leo Addimando - Alterra IOS
• Brokers: Justin Horowitz - Cooper Horowitz
• Loan Type: Acquisition

Justin Horowitz from Cooper-Horowitz arranged the financing on behalf of Alterra IOS. This transaction marks Alterra's first loan with PGIM, reflecting a significant achievement for the borrower in securing necessary financing for their portfolio acquisition.