Green Courte Closes 55-AC Columbus IOS; Almanac Stakes Alterra

Green Courte Partners acquired a 55-acre, 8-parcel IOS assemblage in South Columbus, Ohio. Separately, Alterra IOS secured a passive minority investment from Almanac (Neuberger's private real estate arm).

Green Courte Closes 55-AC Columbus IOS; Almanac Stakes Alterra

IOS Deal Flow Newsletter

Green Courte Partners announced the acquisition of a 55-acre, 8-parcel IOS assemblage in South Columbus, Ohio — the seventh deal for their dedicated IOS fund and one of the larger single-asset IOS footprints closed so far this year. Separately, Alterra IOS secured a passive minority investment from Almanac (Neuberger's private real estate arm), a platform-level endorsement from institutional capital. Realterm also closed a $300M facility for GreenPoint/Outpost, and Cooper-Horowitz arranged a $197M IOS portfolio loan. Active deal flow continued across Florida, South Carolina, and New Jersey.

🏆 The Headliner: 55-Acre Columbus IOS Assemblage

Green Courte Partners Acquires 8-Parcel IOS Site Along Watkins Road, South Columbus, OH

Green Courte's sixth investment fund closed on a rare 55-acre aggregation of eight contiguous parcels in the South Columbus industrial submarket, where both existing IOS stock and developable land are scarce. The site sits between Rickenbacker International Airport and John Glenn Columbus International Airport, a dual-airport logistics position that strengthens its appeal for freight and distribution users. Green Courte plans capital improvements including paving, fencing, lighting upgrades, and a new central drive aisle to improve site circulation. This is the seventh investment for Green Courte's dedicated IOS strategy.

**Transaction Details:**

**Purchase Price:** Undisclosed
**Properties:** 1888, 2020, 2056, 2100, 2104, 2110, 2116, and 2200 Watkins Road, Columbus, OH
**Site:** 55 acres | 28,000 SF existing building coverage
**Submarket:** South Columbus industrial corridor
**Access:** Three interstates, nearby rail service, dual airport proximity

**Deal Team:**

**Buyer:** Green Courte Real Estate Partners VI, LLC (Green Courte Partners, LLC - Chicago)
**Key Quote:** Jordan Kerger, Managing Director at Green Courte: "Columbus offers exceptional connectivity for logistics operators, with approximately 50% of the U.S. population located within a one-day truck drive of the city."
**Seller / Broker:** Not yet disclosed

🔥 Other Deals That Closed (Feb 28-Mar 3, 2026)

DEAL #2: MIAMI, FL

Jadian IOS Acquires Hialeah Gardens IOS, 7 Miles from MIA

Jadian closed on 9550 Northwest 77th Avenue in Hialeah Gardens, Florida, adding another infill South Florida site to its growing portfolio. The property sits less than 7 miles from Miami International Airport, a prime logistics position in one of the most supply-constrained IOS markets in the Southeast. The deal was sourced and executed by the core Jadian deal team.

PROPERTY 9550 NW 77th Ave, Hialeah Gardens, FL

MARKET Miami, FL (MIA proximate)

PRICE Undisclosed

STRATEGY Infill IOS accumulation, South FL

**Buyer:** Jadian IOS (sponsored by Jadian Capital)
**Deal Team:** Matt Perlmutter, Alex Stahl, Sara Swift, Daniel Schuchinsky (Jadian IOS)
**Seller Rep:** Not yet disclosed

DEAL #3: NORTH CHARLESTON, SC

Open Industrial Acquires 4.2-Acre IOS Yard in N. Charleston

Open Industrial closed on a 4.2-acre IOS facility in North Charleston, South Carolina, continuing its Southeast expansion. The Charleston market has seen a steady drumbeat of institutional IOS activity in recent months driven by port proximity and logistics demand.

MARKET North Charleston, SC

SITE 4.2 acres

PRICE Undisclosed

BUYER Open Industrial

**Buyer:** Open Industrial
**Deal Team:** Alex Stahl, Daniel Schuchinsky, Matthew Hennessy (Jadian IOS broker team)
**Seller Rep:** Not yet disclosed

DEAL #4: DALLAS, TX

CanTex Capital Closes New Dallas IOS Acquisition

CanTex Capital, the DFW-focused infill industrial specialist with over 10.5 million square feet of transactions since 2018, added another IOS asset in the Dallas market. CanTex remains one of the most active repeat acquirers of infill IOS in Texas, having previously assembled and sold an 8-property, 44-acre DFW IOS portfolio to Stockbridge Capital Group in late 2025.

MARKET Dallas, TX

BUYER CanTex Capital

PRICE Undisclosed

STRATEGY Infill IOS / value-add

**Buyer:** CanTex Capital (Dallas, TX)
**Key Contact:** Romit Cheema, CEO; Will Cronin (acquisition leadership)
**Broker / Deal Team:** Not yet disclosed

💰 Capital Markets: Institutional Signals

#### Almanac (Neuberger) Takes Minority Stake in Alterra IOS Platform - Feb 27, 2026

Alterra IOS, the nation's largest IOS owner/manager with 450+ properties across 38 states, announced Almanac - the private real estate arm of Neuberger Berman - has taken a passive minority stake in Alterra's management entity. This is a platform-level vote of confidence from permanent institutional capital, not a deal-level investment. Berkshire Global Advisors acted as advisor to Alterra on the transaction.

**Investor:** Almanac (Neuberger Berman private real estate arm)
**Target:** Alterra IOS management entity (Philadelphia, PA)
**Type:** Passive minority stake
**Advisor to Alterra:** Berkshire Global Advisors
**Leo Addimando, Managing Partner and CEO, Alterra:** "Almanac's permanent capital and strategic partnerships will support Alterra's continued expansion and the elevation of IOS as an institutional asset class."
**Josh Overbay, Managing Director, Almanac:** "Alterra is a clear category leader in the IOS segment of industrial real estate."

#### Realterm Originates $300M Facility for GreenPoint Partners / Outpost - Feb 26, 2026

Realterm, a global logistics-focused investment manager, closed a $300 million facility for GreenPoint Partners and its platform company Outpost, which specializes in transportation infrastructure. The first tranche of $115 million financed a 6-property portfolio spanning California, Florida, Oregon, Nevada, and New Jersey, totaling approximately 75 acres and 158,000 SF. The deal follows Realterm's January 2026 $43.5 million loan for a 10-property IOS portfolio in Atlanta and Charleston. Realterm's credit platform is filling financing gaps as traditional banks have pulled back from the logistics real estate sector.

**Lender:** Realterm (Paul Sisson, Head of Credit)
**Borrower:** GreenPoint Partners / Outpost
**Facility:** $300M total commitment; $115M first tranche
**Portfolio:** 6 properties across CA, FL, OR, NV, NJ; ~75 acres; 158,000 SF

#### Cooper-Horowitz Arranges $197M IOS Portfolio Loan - Feb 25, 2026

Cooper-Horowitz, one of the most active capital markets advisors in the IOS space, closed a $197 million loan for an IOS portfolio. No additional public details on the borrower or portfolio composition were disclosed at time of announcement. Cooper-Horowitz has now arranged multiple nine-figure IOS financings in 2025-2026, including Zenith's $120M refinance in early 2025.

**Advisor:** Cooper-Horowitz (Justin Horowitz)
**Loan Amount:** $197M
**Borrower / Lender:** Not yet disclosed

📝 Leases Signed

#### Elizabeth, NJ: Metz Industrial Group (MIG) Leases 1.6-Acre IOS at 869-871 Julia Street

**Property:** 869-871 Julia Street, Elizabeth, NJ
**Site:** 1.6 acres
**Improvements:** 4,225 SF maintenance facility
**Tenant:** Northeastern Lumber Building Supply
**Landlord:** Elberon Development Group
**Tenant Rep:** Jordan Metz, Benito Abbate, James Friel - Metz Industrial Group (MIG) / Bussel Realty Corp.
**Landlord Rep:** Terry Armstrong (in-house, Elberon Development Group)

#### Florida: L|H Closes IOS Lease

**Market:** Florida
**Broker:** L|H (Lober / Horowitz team, Florida IOS specialists)
**Details:** Full lease details not yet publicly disclosed

📊 Market Intel Spotlight: Columbus, OH

Why Columbus is Gaining Institutional IOS Attention

Green Courte's 55-acre acquisition this week put Columbus back in the spotlight. The market's core thesis is logistics centrality: roughly half the U.S. population sits within a single day's drive, making South Columbus a natural IOS demand magnet for fleet operators, logistics users, and equipment rental companies. Supply of large-format IOS land parcels remains tightly constrained, particularly in the South Columbus submarket where today's deal was concentrated.

#### Market Snapshot (Q1 2026 context):

**Market Position:** Tier 1 Midwest logistics hub; ~50% of U.S. population within 1-day truck drive
**Key Infrastructure:** Rickenbacker International Airport (cargo), John Glenn Columbus International Airport, I-70, I-71, I-270 interchange proximity
**IOS Supply:** Supply-constrained; limited developable land in infill South Columbus
**Demand Drivers:** E-commerce distribution, trucking/fleet operators, equipment rental (United Rentals, Sunbelt), building materials staging, rail-served logistics
**Comparable IOS Rents:** Midwest Sunbelt average estimated at $4,000-$7,000/AC/month (Q1 2026); Columbus commanding premium for infill

**Key Buyer Voice:** Jordan Kerger, Managing Director, Green Courte Partners

📈 Operating Context

#### Almanac/Neuberger Bet on Alterra: Platform Capital Enters IOS

Almanac is a provider of growth capital to real estate operating companies - the same category that backed major self-storage and single-tenant platforms before they hit critical scale. Neuberger's decision to take a passive stake in Alterra's management entity signals that institutional allocators now view IOS platforms themselves - not just the underlying assets - as durable long-term businesses. With Alterra at 450+ sites in 38 states, the sector is entering the consolidation phase that characterized self-storage in the 2010s.

**Practical takeaway:** Platform-level institutional capital entering IOS will accelerate land pricing, increase competition for off-market deals, and drive up the floor on lease rates in supply-constrained infill markets.

#### Private Credit Filling the IOS Financing Gap

Three significant IOS financing transactions closed in the Feb 28-Mar 3 window: Realterm's $300M GreenPoint facility, Cooper-Horowitz's $197M IOS loan, and the ongoing deployment of Zenith's recently secured credit facility. As traditional banks pull back from logistics real estate, specialized lenders with IOS sector expertise (Realterm, Cooper-Horowitz, Blue Owl) are becoming the primary debt providers for institutional platforms. This shift is compressing financing timelines for sponsors who have established lender relationships.

**Practical takeaway:** Non-bank IOS lenders now capable of moving at deal speed; sponsors without existing relationships in private credit will face friction closing larger acquisitions.

👥 People Moves

#### Genesis IOS Hires VP, Acquisitions

Genesis, a private investment group active in IOS acquisitions across New Jersey and surrounding markets with CBRE, has added a VP of Acquisitions. The hire signals Genesis is moving to institutionalize its acquisition pipeline after completing several NJ IOS deals through the CBRE team of Mark Silverman, Elli Klapper, Liam McGregor, and Mark Trevisan.

**Focus Markets:** New Jersey, Mid-Atlantic IOS corridor

📌 Active IOS Listings (Newly Circulating)

#### White Marsh, MD (East Baltimore County): 11054 Red Lion Rd. & 11052 Pulaski Hwy.

**Size:** 19.13 acres in two parcels | +/- 53,000 SF warehouse across two buildings
**Zoning:** ML (Manufacturing Light - Industrial), Baltimore County. Permits outside storage by right. Equipment and material storage yard permitted by right under ML.
**Improvements:** Dock and drive-in doors in two buildings; three phase power; gas served
**Access:** Direct Route 40 (Pulaski Hwy) frontage; close proximity to I-95 and I-695 interchange
**Why it matters for IOS:** ML zoning with outside storage permitted by right is a rare combination in East Baltimore County. The site is currently operating with active yard storage visible from aerial - it is a functioning IOS asset, not a conversion play. 19+ acres in two parcels gives a buyer optionality on phasing or bifurcating the acquisition. Port of Baltimore proximity and I-95/695 access make this directly competitive with the infill Baltimore IOS assets Greenspring Realty Partners and Jadian IOS have been buying in the same corridor.
**Listing Brokers:** Jim Chivers, Sr. Vice President (443.928.7522 / jim@goldcommercial.net) and Will McCullough, Vice President (410.292.2985 / will@goldcommercial.net) - Gold and Company, LLC (www.goldcommercial.net)

📬 Get Your Deal Featured

Closed an IOS deal (sale, lease, refinance, or development milestone)? We want to feature your deal and team in the next issue.

**Send us:** - Address + market - Acreage + building SF + doors/yard specs - Buyer/seller/tenant (if discloseable) - Full deal team (brokers, capital markets, title/escrow, attorneys, lender, survey/civil, environmental)