Invesco Real Estate has formed an industrial joint venture with Jera Asset Management.
The venture, called Mercury Trust, will seed $500 million of assets throughout the country that have been acquired or are under contract to be acquired in the near future. It will own industrial assets that are net-leased to investment-grade and high-quality non-investment-grade companies throughout the country. Mercury Trust focuses on distribution centers, logistics properties and cold storage warehouses, among other industrial uses.
Invesco Real Estate, on behalf of an institutional client, has made a significant equity commitment for investment in future acquisitions through Mercury Trust. Mercury Trust has also obtained a credit facility totaling $675 million for current and future acquisitions.