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Leo Addimando Of Alterra IOS Secures $343.6M Refinance Loan From Truist Bank & BOM
FINANCED
$343,600,000
National
See Similar DealsIndustrial
Financed 07/17/2025
FINANCED
Leo Addimando Of Alterra IOS Secures $343.6M Refinance Loan From Truist Bank & BOM
Industrial
Financed 07/17/2025
Summary
Asset Type:Industrial
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$343,600,000.00
Monthly NOI$2,290,666.67
Monthly Debt Service$2,171,785.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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