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Alterra IOS, J.P. Morgan Announce Sale of Industrial Portfolio
Philadelphia-based Alterra IOS completed the sale of a 51-property portfolio to Peakstone Realty Trust in an off-market transaction valued at $490 million.
The portfolio, which spans 14 states, was purchased from a joint venture between Alterra IOS and institutional investors advised by J.P. Morgan Asset Management. It includes 45 operating sites and six redevelopment sites. The operating sites are 100% leased to a diverse range of leading national and regional tenants.
“This significant portfolio sale to a publicly traded REIT underscores the success of Alterra’s investment strategy, which we have refined for nearly a decade, and further advances the institutionalization of the IOS asset class,” said Leo Addimando, CEO and Managing Partner and Matt Pfeiffer, CIO and Managing Partner at Alterra. Alterra IOS has raised $1.45 billion in equity from institutional investors in the past seven years.
