NEW YORK CITY — New York City-based Catalyst Investment Partners has received $281 million in acquisition financing for a national portfolio of 77 industrial outdoor storage (IOS) properties. The properties are scattered across 12 markets, including locations in Northern New Jersey, Miami and Washington, D.C.
The financing comprises separate loans provided by Blackstone Real Estate Debt Strategies and institutional investors advised by J.P. Morgan Asset Management. Justin Horowitz of New York City-based mortgage broker Cooper-Horowitz arranged the financing on behalf of Catalyst Investment Partners. The seller was not disclosed.
The exact occupancy rate of the portfolio at the time of the loan closing was not disclosed, but the properties are leased to “a variety of tenants representing a diverse cross-section of industries,” according to Catalyst. These industries include equipment rental, infrastructure and e-commerce.
“Our early entry into the IOS sector and proprietary data has enabled us to identify a deep opportunity set of small, flexible, low-coverage IOS properties that are situated in dense urban areas where the supply of IOS is fixed or declining, creating irreplaceable assets for occupiers and investors,” says Max Heiden, co-founder and partner at Catalyst.
Heiden co-founded Catalyst in 2021 with Dan Haroun. The company currently has an IOS portfolio of $1 billion in assets under management and is on track to exceed 250 sites in 2027.
- Taylor Williams