Tampa heavy equipment rental property part of $67M portfolio deal

Alterra IOS, an investor in industrial outdoor storage space, has bought a 12-property portfolio that includes three sites in Florida, one of them in Tampa.

The company paid $67 million for the properties. The seller was not disclosed.

According to a statement from Alterra. the properties are all newly constructed and located in seven states. They are all fully leased, according to a spokesperson, by the heavy equipment rental firm HercRentals.

The Tampa property is made up of 2.4 acres with 9,440 square feet of warehouse space. (Alterra did not disclose the addresses. HercRentals operates eight locations in the Tampa market.)

The two other Florida locations are a 4.9-acre site in Malabar with 19,700 square feet of warehouse space and a 2.4-acre site in Ocala with 15,110 square feet of warehouse space

The others are spread across the country including in Austin; Phoenix; Raleigh-Durham; and Sacramento.

The 12 sites total 43.3 acres with more than 165,000 square feet of accompanying warehouse space.

Late last year Alterra bought three local properties totaling 12.4 acres, two in Tampa and one in Lakeland.

According to its website, Alterra currently owns 350 properties in more than 30 states across the U.S. Of those, six are in Florida.

Earlier this month it announced a $343.6 million loan arranged by Truist Financial Corp. and said in a statement that it had “now raised more than $1.5 billion in institutional financing across its various ventures, complementing $1.45 billion in equity raised for its closed-end funds.”