Realterm Buys $277M Industrial Outdoor Storage Portfolio From Brookfield

Realterm purchased a portfolio of 13 industrial outdoor storage properties in Chicago and across the nation for over $277M from a Brookfield real estate fund, Brookfield announced Thursday afternoon.

Realterm Headquarters.

The portfolio, which was held in a Brookfield Asset Management real estate fund, comprises 13 single-tenant truck terminals and low-coverage industrial assets totaling about 632K SF and 131 usable acres.

The properties are in a variety of markets across the country, including Chicago, Dallas-Fort Worth, Northern New Jersey, the Inland Empire, Orlando, Seattle and the Bay Area.

Brookfield acquired the assets in the portfolio between 2017 and 2022, targeting properties in key industrial markets with long-term growth potential, a Brookfield spokesperson said.

“The IOS portfolio attracted significant interest from institutional investors, and the sale to Realterm, a leader in the transportation and infrastructure real estate sector, is a testament to our ability to recognize market trends early and the success of our strategy to aggregate this product type to the benefit of our investors,” Brookfield Real Estate Managing Partner Devin Barnwell said in a statement.

The deal closed on Dec. 27. Eastdil Secured acted as the exclusive advisor to Brookfield on the transaction.

“The portfolio is a rare opportunity to acquire, at scale, a collection of transportation-advantaged IOS truck terminal assets in key markets,” Realterm Vice President of Investments Ben Andreycak said in a separate statement. “As a leader in the IOS sector for more than three decades, Realterm recognizes the mission critical nature of the assets in the portfolio for logistics users.”

IOS properties are meant for trucks, containers and other storage needs, and they've become hot properties in recent years thanks to their outsized return rates.

2024 saw several huge deals close, including Alterra raising almost $1B for IOS acquisitions in April and Fortress refinancing IOS portfolios totaling $708M in June.

More recently, Chicago-based REIT Peakstone Realty Trust made its debut in the industrial outdoor storage sector, picking up a 51-property portfolio valued at $490M in November 2024.

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