NEW YORK, Jan. 15, 2026 (GLOBE NEWSWIRE) — Open Industrial and Heitman LLC (“Heitman”) announced the formation of a new partnership to recapitalize a 25-property, 105-acre industrial outdoor storage (“IOS”) portfolio. The portfolio comprises mission-critical sites located in infill submarkets near major transportation nodes and population centers across Virginia, Maryland, North Carolina, and South Carolina, supporting last-mile logistics, equipment rental, construction services, and other essential operations.
In addition to the recapitalization, the partnership plans to scale its footprint in the highly fragmented IOS sector, with over $200 million of equity targeted for deployment across the recapitalization and new IOS investments over the next 12 months.
“This partnership marks an important milestone for Open Industrial as we continue to expand into one of the most compelling and undersupplied segments of real estate,” said Michael Rabin, Chief Executive Officer of Open Industrial. “Partnering with Heitman positions our data-driven, vertically integrated platform to accelerate growth, deepen tenant relationships, and unlock value across both our existing portfolio and new acquisitions nationwide.”
“IOS continues to demonstrate strong fundamentals driven by structural supply shortages, essential-use tenancy, and diversified demand from logistics, rental, and infrastructure-related tenants,” said Michael Walsh, Vice President at Heitman. “Open Industrial has established one of the most sophisticated platforms in the sector, and our partnership reflects our conviction in both the long-term durability of IOS and Open Industrial’s ability to execute at scale.”
Open Industrial engaged Park Madison Partners to serve as the exclusive financial advisor on the transaction.
“This partnership brings together a best-in-class specialist operator and a globally respected institutional investor at a moment when IOS is evolving into a mainstream asset class,” said Brian Di Salvo, Partner and Head of Capital Advisory at Park Madison Partners. “Open Industrial’s platform capabilities and Heitman’s thematic conviction create a strong foundation for long-term success. We are proud to have advised on this transformative transaction that will help shape the next phase of growth in the IOS industry.”
About Open Industrial
Founded in 2020, Open Industrial is a Bethesda, MD-based real estate private equity firm that owns and operates industrial outdoor storage assets in markets across the U.S. Open Industrial employs a technologically enabled, data-driven approach to inform decision-making across acquisitions, asset management, leasing, and dispositions. As an early mover into the IOS sector, Open Industrial leverages its vertically integrated team and established IOS track record to deliver best-in-class asset management and create long-term value through hands-on property optimization and tenant relationships. For more information, please visit https://openindustrial.com/.
About Heitman
Heitman is a global real estate investment management firm with $48 billion in assets under management as of September 30, 2025. Founded in 1966 and globally headquartered in Chicago, with European headquarters in London, Heitman has 10 offices worldwide and is an active participant in the global real estate property and capital markets. Heitman makes real estate investments through private equity, debt, and publicly traded real estate securities. For more information, please visit www.heitman.com/.
About Park Madison Partners
Park Madison Partners LLC (“Park Madison Partners”) is a leading private placement and capital solutions firm focused on building strategic partnerships within the institutional real estate community. Since its formation in 2006, Park Madison Partners has advised on over $30 billion in private capital placements for a wide range of real estate vehicles including closed-end funds, open-end funds, separate accounts, programmatic joint ventures, and recapitalizations. The team comprises professionals from diverse backgrounds on the buy-side and sell-side and leverages this experience to offer the firm’s clients highly customized solutions across global real estate capital markets. For more information, please visit www.parkmadisonpartners.com.
CONTACTS:
Prosek Partners on behalf of Heitman:
pro-Heitman@prosek.com
Rosalia Scampoli on behalf of Open Industrial and Park Madison Partners:
rscampoli@marketcompr.com
