J.P. Morgan Starts $700 Million Joint Venture To Buy Industrial Outdoor Storage Properties
CoStar News, Andria Cheng (February 04, 2022)
With industrial outdoor storage properties in demand along with other logistics and warehouse spaces, J.P. Morgan is teaming up with Zenith IOS, a builder and owner of outdoor storage properties, on a new $700 million joint venture to buy this type of real estate across the United States.
Zenith is working with institutional investors advised by J.P. Morgan Global Alternatives, the alternative investment arm of J.P. Morgan Asset Management, to build a national industrial outdoor storage, or IOS, platform, Zenith and J.P. Morgan said in a statement Friday, adding these properties will be positioned to meet demand across various supply-chain networks.