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Deals & Dealmakers

Zenith IOS and J.P. Morgan Global Alternatives Acquire $300 Million of Industrial Outdoor Storage Assets Through the Third Quarter of 2022

Zenith IOS (“Zenith”) today announced that the platform, in partnership with institutional investors advised by J.P. Morgan Global Alternatives, has acquired over $300M of industrial outdoor storage (“IOS”) properties over the last nine months and is targeting over $1B in total assets across the United States.

Zenith and J.P. Morgan acquire IOS yards leased by a wide array of industrial users and tenants that require outdoor storage space for vehicle parking, container storage, construction supplies, and machinery, among other uses. 

With over 40 IOS assets totaling in excess of $300M of value purchased since launching in December of 2021, Zenith and J.P. Morgan continue to cement their role as a leader in the IOS sector. Their expanding national footprint strategically targets urban infill industrial locations in major cities and high growth markets, with properties owned in New Jersey, Miami, Dallas-Ft. Worth, Atlanta, Kansas City, Houston, New York City, Denver, Minneapolis, Phoenix, Chicago and Los Angeles, amongst others.

“Over the last nine months we’ve expanded our geographic footprint and tenant base, providing further diversification within Zenith’s portfolio of IOS properties. Despite the current market turbulence, we firmly believe that the IOS sector will continue to outperform many traditional real estate asset classes in the coming years due to a variety of positive tailwinds and risk mitigants,” said Ben Atkins, Co-Founder and CEO of Zenith. “The constant or diminishing supply has kept IOS insulated from many of the supply concerns surrounding other asset classes.” 

“When we founded Zenith at the end of 2021, we saw an opportunity to be an early player in the development of IOS as a rapidly emerging institutional asset class,” said Daniel Laub, Co-Founder and COO of Zenith, “With a best-in-class partner in J.P. Morgan Asset Management, the Zenith platform is uniquely positioned to take advantage of market dislocations. With our increased buying power, we will continue to carefully curate a national portfolio of cash-flow driven, core infill IOS sites while simultaneously growing a vertically integrated company capable of managing the full life cycle of these assets. Our goal is for Zenith to be the long-term leader in industrial outdoor storage.”

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