Great outdoors: Brookfield treks back into IOS with $1.2bn deal

The rapidly institutionalizing industrial outdoor storage sector is back in the spotlight this week thanks to an agreement struck by Brookfield Asset Management to take real estate investment trust Peakstone Realty private for $1.2 billion in cash. The deal marks a dramatic return to the IOS space for Brookfield, which sold a portfolio of IOS properties it had aggregated in the US for $277 million a year ago, and highlights investors’ growing conviction for a hot subsector of the broader industrial market.

With that mega-deal setting the tone, The PERE Podcast takes a deep dive into the industrial outdoor storage market – including the most basic question: What actually constitutes IOS? What is driving investors’ and fund managers’ aggressive pursuit of scale in the fragmented sector? And what do their varying approaches suggest about the outlook for the category? Host Greg Dool sits with PERE Credit deputy editor Randy Plavajka and PERE Deals reporter McKenna Leavens to discuss all of these questions and more.

Later in the episode, we hear from Price Booker, chief investment officer at Maryland-based manager and industrial outdoor storage specialist Realterm, for his perspective on the risks, opportunities and growing investable market associated with IOS strategies.

Citations:

• Brookfield takes Peakstone private in $1.2bn deal - PERE Deals
• Realterm reels in €470m for second European IOS fund - PERE