Zenith, JP Morgan Form $700M JV

Zenith IOS has formed a new $700 million joint venture with institutional investors advised by J.P. Morgan Asset Management, focused only on industrial outdoor storage properties across the U.S. This marks the duo’s second such partnership, as they previously joined forces in February 2022 for a similar deal.

The combined joint ventures will boast a gross asset value exceeding $1.5 billion, making it one of the largest portfolios of institutional-quality IOS assets in the country.

The companies will pursue core infill locations that have minimal building density, in the top 40 markets, with transactions ranging from $5 million to $20 million.

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