Blackstone, J.P. Morgan Lend $281M on Industrial Outdoor Storage Portfolio

New York City-based Catalyst Investment Partners, specializing in industrial outdoor storage (IOS) properties in high-barrier-to-entry urban infill markets, said Monday it secured $281 million in separate financings originated by Blackstone Real Estate Debt Strategies and institutional investors advised by J.P. Morgan Asset Management on behalf of Catalyst IOS Fund II. The J.P. Morgan Asset Management financing represents its first loan secured by a fully dedicated IOS portfolio.

“This significant milestone demonstrates the continued institutionalization of the IOS space as market-leading lenders find value in the sector,” said Dan Haroun, co-founder and partner at Catalyst. “We are grateful for the support and partnership of the J.P. Morgan Asset Management and Blackstone teams. This financing reflects the quality of the portfolio and Catalyst’s extensive experience and focus on its sector-leading IOS investment management platform.”

The financings are backed by a portfolio of 77 properties across 12 high-barrier-to-entry IOS markets, including Northern New Jersey, Miami and Washington, DC. Tenants represent a diverse cross-section of industries including equipment rental, infrastructure, and e-commerce companies.