Blackstone Lends $231M for IOS Portfolio
By Andrew Coen June 5, 2025 11:56 am
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Jadian Capital affiliate JIOS has nabbed a $231 million financing package to implement upgrades for a 43-property transitional industrial outdoor storage (IOS) portfolio, Commercial Observer has learned.
Blackstone Real Estate Debt Strategies (BREDS) provided the loan for JIOS’s portfolio acquired over the last two years that spans 293 acres in 13 states. Washington, D.C-based JIOS is a real estate investment firm that gets financial backing from Jadian Capital.
“We’ve been investing in IOS for many years because of the sector’s large demand tailwinds and durable supply barriers,” Dan Schuchinsky, managing director at Jadian Capital, said in a statement. “This financing underscores how institutional lenders have come to appreciate these same traits.”
Schuchinsky added that Jadian plans to invest $2 billion in IOS assets over the next two years.
JLL arranged the transaction with a capital markets advisory team featuring Peter Rotchford, Tyler Peck and Christopher Peck.
Fifty-four percent of the portfolio’s acreage is in Sun Belt states while 37 percent is in the Northeast and mid-Atlantic regions, according to JLL. Some of the anchor tenants at the properties include Amazon, United Rentals, Waste Management, Ryder and ABF Freight.
“Transitional” industrial outdoor storage is a term used to describe IOS properties being developed or repurposed to meet evolving uses, often to meet changing demand.
“The portfolio’s high-quality tenant roster, strategic infill locations and compelling supply-demand fundamentals made it a very attractive financing opportunity,” Tyler Peck said in a statement. “We’re seeing sustained interest in the IOS sector as investors and lenders seek to capitalize on the evolving needs of e-commerce, logistics and last-mile distribution users.”
A BREDS spokesperson said in a statement “We are pleased to support the growth of this well-located, high-quality IOS portfolio. This transaction reflects Blackstone Real Estate Debt Strategies’ ability to deliver creative, strategic large-scale financing solutions and provide certainty amidst market volatility.”
Andrew Coen can be reached at acoen@commercialobserver.com
