GreenPoint Lands $300M Credit Facility, Realterm Backs NJ Infill IOS
Realterm originated a $300M credit facility for GreenPoint Partners/Outpost, with $115M drawn at close for a 6-property national transport portfolio. CBRE arranged acquisition debt for a NJ infill IOS facility.
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.
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