Zenith IOS announces second $700m JV with JP Morgan

Zenith IOS has closed its second industrial outdoor storage (IOS) joint venture with institutional investors advised by J.P. Morgan Asset Management.

The new venture will continue building on their first joint venture and seek to purchase approximately $700 million of IOS sites across the United States. These combined joint ventures will own one of the nation’s largest portfolios of institutional-quality IOS properties, with a gross asset value in excess of $1.5 billion.

“We are extremely excited to continue working alongside J.P. Morgan Asset Management,” said Benjamin Atkins, Zenith CEO. “The national IOS investment landscape is institutionalizing at a rapid pace, and IOS tenants recognize the advantages of partnering with an experienced owner capable of providing real estate solutions to meet the demands of today’s IOS users. We have been able to leverage our collective experience as first movers in the IOS asset class to both build a best-in-class, pure-p