Alterra Property Group

Background

Alterra Property Group, LLC ("Alterra") is a Philadelphia-based real estate investment, development, and management firm established in 2005. The company specializes in residential/mixed-use development and industrial outdoor storage (IOS). Alterra's mission is to deliver high-quality real estate solutions while positively impacting the communities it serves. Since its inception, Alterra has executed over 150 real estate transactions across more than 20 states, totaling over $2 billion in transaction volume.

Key Strategic Focus

Alterra's strategic focus centers on two primary areas:

Residential/Mixed-Use Development (APG Living): The company has developed and managed numerous mixed-use and residential properties, overseeing the entire value creation process from acquisition to disposition. This includes in-house project design, construction oversight, leasing, and management. Currently, Alterra manages over 2,000 upscale residential apartments under its APG Living division.

Industrial Outdoor Storage (IOS): Through its APG IOS platform, Alterra provides real estate solutions for tenants in the heavy industrial and outdoor storage sectors. The company focuses on properties with large, stabilized yard spaces suitable for vehicle, material, and equipment storage. Alterra has acquired over 270 properties across 30 states, with a transaction volume exceeding $2 billion.

Financials and Funding

Alterra has demonstrated significant financial growth:

Transaction Volume: Over $2 billion in real estate transactions.

Equity Capital: More than $1 billion invested in equity capital.

Recent Funding Rounds: In May 2024, Alterra secured $925 million in funding, following a $524 million round in March 2022.

These funds are intended to support the expansion of both the APG Living and APG IOS platforms, including new acquisitions and development projects.

Pipeline Development

Alterra's development pipeline includes:

Residential Projects: Continued expansion of upscale residential units under APG Living, with a focus on urban core apartments and mixed-use developments.

Industrial Outdoor Storage: Ongoing acquisition and development of IOS properties to meet the growing demand for industrial storage solutions.

Specific project timelines and milestones are managed internally, with a focus on strategic growth and market responsiveness.

Technological Platform and Innovation

Alterra leverages a vertically integrated approach, controlling the entire value creation process from acquisition to disposition. This includes in-house expertise in structuring complex transactions, project design, construction oversight, leasing, and management. The company's comprehensive understanding of municipal and logistical complexities enables it to secure mission-critical real estate for often-overlooked sectors of the U.S. industrial landscape.

Leadership Team

Alterra's leadership comprises experienced professionals:

Leo Addimando: Founder and CEO, overseeing the company's strategic direction and growth.

Brian Evans: Partner, Strategy & Finance, responsible for financial planning and strategic initiatives.

Charlie Totten: Senior Vice President, IOS, leading the industrial outdoor storage division.

Dan Kramer: Senior Construction Manager, overseeing construction projects across the portfolio.

Leadership Changes

As of the latest available information, there have been no recent significant changes or appointments within Alterra's leadership team.

Competitor Profile

Market Insights and Dynamics:

The real estate investment and development industry is highly competitive, with significant growth potential in both residential/mixed-use developments and industrial outdoor storage sectors. Trends indicate increasing demand for urban residential units and industrial storage solutions, driven by urbanization and e-commerce growth.

Competitor Analysis:

Alterra's primary competitors include:

Hines: A global real estate investment, development, and management firm with a diverse portfolio.

MIG: A real estate investment company focusing on various property types, including residential and commercial.

Midway: A real estate investment, development, and management firm specializing in mixed-use developments.

These competitors have established market positions and offer similar services, making the industry highly competitive.

Strategic Collaborations and Partnerships

Alterra has partnered with several institutional capital partners to execute over 150 real estate transactions across more than 20 states. These collaborations have been instrumental in the company's growth and expansion.

Operational Insights

Alterra's vertically integrated approach provides a competitive advantage by controlling all aspects of the real estate development and management process. This comprehensive control allows for efficient project execution and responsiveness to market demands.

Strategic Opportunities and Future Directions

Alterra aims to continue expanding its APG Living and APG IOS platforms, focusing on strategic acquisitions and developments that align with market trends and community needs. The company's strong financial position and experienced leadership team position it well for future growth and success.