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Sign in Sign up for a FREE subscriptionJP Morgan, Zenith IOS launch $700m industrial outdoor storage JV
Zenith IOS and J.P. Morgan Global Alternatives have formed a $700 million joint venture that will focus on creating a national industrial outdoor (IOS) storage platform.
The platform will create an institutional portfolio of IOS assets positioned to meet the growing user demand across various supply-chain networks. The joint venture is expected to close more $125 million of acquisitions by the end of February 2022.
“As the available supply of quality IOS sites continues to tighten due to various different forces, the fundamental growth in e-commerce and distribution, construction, and up-zoning, the macro dynamics support a high-yielding strategy with an increasingly strong tenant credit profile” said Ben Atkins, founder and CEO. “We see IOS rapidly emerging as a new distinct subset of the industrial asset class, and our goal is to help define this space through the creation of an institutionally owned and operated investment company.”
The joint venture
