GreenPoint Lands $300M Credit Facility, Realterm Backs NJ Infill IOS (Feb 24)

GreenPoint Partners closed on a 6-property portfolio across CA, FL, OR, NV, and NJ with Realterm structuring a $300M credit facility. Northern NJ remains one of the most supply-constrained IOS markets.

GreenPoint Lands $300M Credit Facility, Realterm Backs NJ Infill IOS

IOS Deal Flow Newsletter

Realterm put two IOS deals on the tape this week, headlined by a $115M acquisition loan and $300M forward credit facility to GreenPoint Partners and its operating platform Outpost - the firm's largest single commitment to the sector to date. Separately, CBRE arranged acquisition debt for Ridgecut Road's pickup of a 2-acre, newly built IOS facility in Kenilworth, NJ, a tight Northern New Jersey market with direct access to Port Newark and NYC. Both deals signal that IOS-focused lenders and operators are accelerating deployment heading into Q2.

🏦 The Headliner: Realterm Funds GreenPoint/Outpost's National Expansion

GreenPoint Partners acquires 6-property national transport portfolio; Realterm originates $300M facility, $115M drawn at close

GreenPoint Partners, through its operating platform Outpost, closed on a 6-property industrial and transport infrastructure portfolio spanning California, Florida, Oregon, Nevada, and New Jersey. Realterm - which has become the go-to IOS-specialist lender for platform-scale borrowers - structured a $300M credit facility, with the first $115M tranche funding this acquisition. The deal extends a long-running Realterm/GreenPoint relationship: Realterm's $70.8M debut loan in Jan 2025 was also for a GreenPoint/Outpost IOS portfolio, arranged by Lantern Real Estate Advisors + Partners.

**Transaction Details:**

**Debt Package:** $115M acquisition tranche (part of $300M total facility)
**Portfolio:** 6 properties across CA, FL, OR, NV, NJ
**Site:** 75 acres total | 158,000+ SF
**Buyer:** GreenPoint Partners / Outpost - Chris Green (Founder and CEO), Eric Boothe, Jeff Foster, Ryan Taylor; Outpost ops led by Trent Cameron and Josh Neill
**Seller:** Not yet disclosed
**Lender:** Realterm - Paul Sisson (Head of Credit), Kate Sarris (SVP, Credit Solutions)
**Buyer's Debt Advisor:** Lantern Real Estate Advisors + Partners - Harris Brown, VP (firm arranged prior Realterm-GreenPoint transactions)
**Investment Sales Broker (seller-side):** Not yet disclosed

🔥 Other Deals That Closed (Feb 21-24, 2026)

DEAL #2: KENILWORTH, NJ

Ridgecut Road acquires 2-acre infill IOS facility with CBRE-arranged acquisition loan

Ridgecut Road, an owner focused on logistics and low-coverage industrial properties, closed on 651 North Michigan Ave. in Kenilworth, NJ - a newly built 2-acre IOS facility purpose-built for maintenance and service-oriented industrial users. The acquisition was financed by a regional bank, with CBRE's Matthew Pizzolato and Josh Stein sourcing the debt. Northern NJ remains one of the most competitive IOS markets in the country: the site is within 15 minutes of Port Newark-Elizabeth and 30 minutes from New York City, with immediate access to Routes 22, I-78, and the NJ Turnpike.

PROPERTY 651 North Michigan Ave., Kenilworth, NJ

SITE 2.02 acres

IMPROVEMENTS 28,000 SF (built 2023, modern specs)

PRICE / LOAN Undisclosed (regional bank debt)

**Key Features:** High-end finishes, functional layout for service-oriented IOS users, off Route 22 - 15 min to Port Newark-Elizabeth, 30 min to NYC
**Buyer:** Ridgecut Road
**Broker / Deal Team:** CBRE - Matthew Pizzolato and Josh Stein (debt placement)

📊 Market Intel Spotlight: Northern New Jersey

What the Numbers Are Saying

Northern New Jersey is one of the most supply-constrained IOS markets in the US. Port-proximity, highway density, and entitlement barriers make every available site a competitive event. Lender appetite for NJ IOS remained strong this week, as the Kenilworth deal drew multiple bids from regional banks despite undisclosed pricing.

#### Market Snapshot (Feb 2026):

**Demand Drivers:** Port Newark-Elizabeth proximity, last-mile logistics, contractor and fleet users serving NYC metro
**Supply Constraint:** Zoning restrictions, high land costs, and redevelopment pressure to higher uses - very limited pipeline of new IOS product
**Lender Appetite:** Strong, per CBRE's Matthew Pizzolato: "continued lender appetite for well-located IOS properties in northern New Jersey"
**Notable Platforms Active:** Ridgecut Road, Realterm, Catalyst Investment Partners (East Coast focused), NAI Hanson

**Local Expert:** Matthew Pizzolato and Josh Stein, CBRE (debt placement, Northern NJ IOS)

📈 Operating Context

#### Realterm Discloses Concurrent IOS Loan: $43.5M for 10-Property Atlanta and Charleston Portfolio

Alongside the GreenPoint announcement on Feb 23, Realterm's Paul Sisson publicly confirmed the firm had also recently originated a $43.5M loan for a 10-property IOS portfolio in Atlanta and Charleston, SC - no borrower named. The simultaneous disclosure of two active IOS credit deals in a single press release underscores the pace at which Realterm is deploying from its $350M Logistics Credit Fund.

**Practical takeaway:** Realterm is now running parallel IOS loans across multiple platforms simultaneously - positioning itself as the category's dominant specialist lender as generalist banks continue to pull back from the space.

📬 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)