“We are excited to complete Alterra’s first financing with PGIM, an important milestone in the continued institutionalization of the IOS sector,” said Scott Whittle, chief financial officer at Alterra IOS. “PGIM’s partnership underscores growing confidence in IOS as a durable, long-term asset class.”

ABOUT PGIM

PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), with $1.5 trillion in assets under management.¹ PGIM offers clients deep expertise across public and private asset classes, delivering a diverse range of investment strategies and tailored solutions — including fixed income, equities, real estate and alternatives. With 1,500+ investment professionals across 37 offices in 20 countries, we serve retail and institutional clients worldwide. For more information visit pgim.com.

PGIM’s real estate business is the world’s second-largest real estate investment manager, with $216 billion in gross assets under management and administration,² and real estate professionals located in 30+ cities worldwide. Through our full suite of real estate equity and debt solutions, we aim to achieve exceptional outcomes on behalf of investors and borrowers. Our uncompromising commitment to building lasting relationships with our clients is founded on trust, transparency, and mutual respect.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

ABOUT ALTERRA IOS

Alterra’s industrial real estate platform, Alterra IOS, is dedicated to providing real estate solutions through property acquisition, development, management and leasing for tenants in the heavy industrial and outdoor storage space. Focused on low-building coverage sites with large, stabilized yard space to accommodate an array of uses such as vehicle, material and equipment storage, Alterra brings an institutional comprehension of the municipal and logistical complexities in securing mission-critical real estate in a sector of the U.S. industrial landscape. Over the past 10 years, Alterra IOS has created tenant relationships in the transportation and logistics, vehicle storage, equipment rental, infrastructure services, and building materials industries through the acquisition or development of over 450 properties across 38 states as of Q1 2026. The dedicated team of investment, property management, construction, and asset management professionals provide tenants the resources to grow and improve their businesses on a national level.

¹ As of Dec. 31, 2025.

² As of Sept. 30, 2025, AUM reflected as gross. Net AUM is $139 billion and AUA is $49 billion. PGIM Real Estate is the second-largest real estate investment manager (out of 63 firms surveyed) in terms of global real estate assets under management based on Pensions & Investments’ “The Largest Real Estate Investment Managers” list published November 2025. This ranking represents AUM as of June 30, 2025. Participation in the ranking is voluntary and no compensation is required to participate in the ranking.