Leumi UK has provided financing of up to £100 million for the expansion of Concreit, the industrial outdoor storage platform assembled by TPG Angelo Gordon and Blomfield Partners. The facility increases Leumi UK's exposure from nine properties to 21 assets, marking a significant commitment to a sector that has evolved rapidly from niche storage into a recognised real estate asset class with growing institutional backing.
Concreit has built its portfolio through acquisitions of industrial outdoor storage sites across the UK, targeting logistics corridors and multimodal transport hubs. The platform is simultaneously adding assets and actively recycling capital, having disposed of 12 of its 35 UK sites over the past six months as part of its portfolio management strategy, according to the company.
The financing underscores a broader wave of investor interest in the industrial outdoor storage market, which is attracting capital from private equity and family offices alike. Investors are drawn by constrained land supply, relatively low capital expenditure requirements, and demand from occupiers that span logistics operators, fleet managers, construction firms, infrastructure contractors, and utilities providers.
Private equity funding dominates the IOS investment market and is expected to continue doing so in the short to medium term, although some family offices are also examining the sector, according to the latest report from Carter Jonas. The advisory firm forecasts that at least one major US operator will enter the UK market this year, adding competitive pressure and capital to the space.
Transaction volumes in the sector exceeded £250 million in 2025, compared with £150 million in 2024, Carter Jonas reported. The firm remains optimistic about investment volumes and rent increases in 2026, signalling that the asset class is gaining momentum rather than peaking.
For TPG Angelo Gordon, the UK expansion is part of a wider European strategy that has accelerated over recent months. The firm entered the Netherlands through a partnership with DCM Investment Group, acquiring four IOS sites, and completed its first acquisition in Germany, expanding alongside Blomfield Partners and local operating partners. The firm is targeting European markets where industrial land shortages and logistics demand create similar investment fundamentals to those in the UK.
TPG Angelo Gordon principal John Parsons said in a statement that the transaction marks a significant step in scaling the platform and reflects growing institutional conviction around the IOS opportunity. Leumi UK Relationship Director Gez O'Sullivan added that the facility reflects conviction in the long-term fundamentals of the sector.
The platform's dual strategy of acquisition and selective disposals suggests active portfolio optimisation rather than simple land banking. By recycling capital from 12 UK sites while expanding the overall footprint, Concreit appears to be refining its geographic and operational mix to align with higher-conviction logistics corridors and transport nodes.
The sector's appeal lies partly in its operational simplicity relative to traditional industrial assets. Outdoor storage typically requires less upfront capital expenditure than warehouses or distribution centres, while still capturing demand from tenants needing secure, accessible space for equipment, vehicles, containers, and materials. As land constraints tighten in logistics corridors, the sector is positioning itself as a viable alternative to conventional industrial product.
With institutional lenders backing multi-asset platforms and cross-border expansion underway, industrial outdoor storage is moving from opportunistic play to scalable real estate strategy. The entry of family offices and the anticipated arrival of US operators indicate that the window for early positioning may be narrowing as the asset class matures and pricing adjusts accordingly.