Alterra Property Group

Alterra Property Group, LLC is a real estate investment, development, and management company based in Philadelphia, Pennsylvania. The firm's real estate platform is strategically focused on two core competencies: residential and mixed-use development, operating under APG Living, and industrial outdoor storage (IOS), managed through APG IOS. Alterra is vertically integrated, overseeing the entire value creation process from acquisition to disposition, with in-house expertise in transaction structuring, project design, construction oversight, leasing, and management.

Founded in 2005 by Leo Addimando, Alterra Property Group initially concentrated on multifamily development within Philadelphia. The firm expanded its focus into industrial outdoor storage in 2016, a move prompted by a friend's difficulty in securing suitable storage for cranes. This expansion led to the development of a national, institutionally backed portfolio of IOS properties, while Alterra continued its commitment to Philadelphia-focused multifamily development.

Alterra Property Group has been involved in numerous significant projects and transactions. Notable investments include the LVL North, a 426-unit mixed-use project in Philadelphia. The firm has also engaged in substantial industrial outdoor storage deals, such as acquiring 17 properties from Maxim in a sale-leaseback arrangement and forming a $300 million joint venture with J.P. Morgan Asset Management to acquire IOS properties. Alterra later sold a 51-property IOS portfolio for $490 million and acquired another portfolio from TruGreen for $43 million. The company has also successfully closed its Alterra IOS Venture III fund.

The firm is comprised of a highly qualified team of professionals who manage all aspects of real estate, including acquisition, entitlement, project and construction management, asset management, leasing, property management, accounting, and investor reporting. Key team members include Leo Addimando, Managing Partner and Co-Founder; Matthew Pfeiffer, Managing Partner overseeing IOS acquisitions; and Jeff Pustizzi, Chief Financial Officer and General Counsel. Alterra Property Group manages over 2,000 upscale residential apartments through its APG Living division and has acquired more than 400 properties across 38 states, with a transaction volume exceeding $2 billion.