IOS Financing Fuels $231M Blackstone Deal

Blackstone backs $231M IOS financing for a 43-property storage portfolio as investor interest in the asset class grows nationwide.

June 6, 2025

Valerija I.

Blackstone issued $231M in IOS financing to Jadian Capital’s JIOS platform for a 43-property portfolio.
The portfolio spans 293 acres across 13 states, with a majority of assets in the Sun Belt and Northeast.
Tenants include major logistics and industrial users like United Rentals, Waste Management, and Ryder.
Jadian Capital plans to invest $2B into IOS assets over the next two years amid sector growth.

Key Takeaways

A Strategic Bet On IOS

Blackstone’s real estate debt arm is doubling down on the growing industrial outdoor storage segment with a $231M loan to Jadian Capital’s JIOS platform, reports Commercial Observer. The debt, arranged by JLL, supports a 43-asset portfolio spanning 293 acres across 13 states, with properties located near key infrastructure like ports, railroads, and highways.

Regional Footprint And Tenant Mix

The portfolio spans 19 markets, with most acreage in the Sun Belt and a third in the Northeast and Mid-Atlantic. Long-term tenants include industry giants such as United Rentals, Waste Management, Ryder, and ABF Freight. Blackstone’s deal signals rising institutional interest in IOS assets near logistics hubs with strong tenants and long-term growth potential.

Long-Term Commitment

Jadian Capital has long invested in IOS assets, citing high demand and limited supply. Backed by Blackstone, the firm plans to deploy $2B over two years. JLL’s Peter Rotchford, Christopher Peck, and Tyler Peck led the debt arrangement.

Sector Momentum

As e-commerce and logistics demands evolve, IOS has emerged as a niche yet critical asset class. Despite being fragmented, the market is undergoing consolidation as major players like United Rentals expand their footprint—now controlling 10% of the equipment rental segment, according to Colliers. Institutional investors such as Blackstone are accelerating this trend, backing large-scale portfolios and signaling growing confidence in the long-term value of IOS assets.

Financing Follows Growth

Blackstone’s latest deal follows a series of other notable IOS financings, including a $189M loan for Alterra IOS and a $120M package from Washington Capital Management for a J.P. Morgan–backed partnership with Zenith IOS.

Expect debt activity to remain strong as the IOS sector continues to scale and attract institutional capital.