Leo Addimando Of Alterra IOS Secures $343.6M Refinance Loan From Truist Bank & BOM

The transaction involves a loan secured by Alterra IOS for refinancing 64 industrial outdoor storage properties located across multiple markets including Atlanta, Chicago, Dallas-Fort Worth, and Houston. The total loan amount is $343,600,000, focusing on improving portfolio borrowing costs through institutional financing, reflecting a total financing raised to over $1.5 billion.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $343,600,000
• Lender: Truist Bank & Bank of Montreal
• Landlord: Leo Addimando - Alterra IOS
• Broker: Chad Orcutt - JLL

The loan from Truist Bank and Bank of Montreal is part of Alterra’s $524 million equity-backed Venture II fund, underscoring institutional confidence in the industrial outdoor storage sector.