Creation RE and J.P. Morgan Global Alternatives have formed a joint venture that will invest $1 billion in industrial, warehouse and logistics real estate projects across four states. The JV will fund and develop seven projects, three of which have already closed and four that are in the pipeline.
PHOENIX (PRWEB) APRIL 13, 2022
Creation RE, a fast-growing real estate investment and development firm headquartered in Phoenix, and institutional investors advised by J.P. Morgan Global Alternatives announced today a joint venture that will invest $1 billion in industrial, warehouse and logistics real estate projects across four states.
The partners will capitalize and develop seven projects, three of which have already closed and four that are in the pipeline, totaling approximately five million square feet in Newark, N.J.; Melville, N.Y.; Islandia, N.Y.; Fort Worth, Texas; and Chandler, Gilbert and Phoenix, Ariz.
“J.P. Morgan is an outstanding investment partner and we have assembled an extremely high-quality portfolio of projects together across the U.S. in a very short period of time,” said Josh Zemon, managing principal of Creation. “Creation has rapidly grown over the past several years with our current investment and development pipeline approaching $4 billion. We are thankful to J.P. Morgan for their partnership and excited to continue our growth together.”
Founded in 2018 by David Sellers and Bob Agahi, Creation now has two offices in Phoenix and Dallas with a third launching early next year in New York City. In addition to the logistics pipeline, the design-focused firm is also developing various large-scale, mixed-use projects.
“Creation has a demonstrated track record of sourcing and executing on differentiated industrial assets in various markets across the country,” said Alex Bez, vice president, real estate Americas at J.P. Morgan Asset Management. “Investing in the right markets with top-tier developers like Creation has been and will continue to be a key part our growth.”
Creation is a Phoenix-based real estate development and alternative investment firm founded by David Sellers and Bob Agahi. Creation has a growing pipeline of over $3.8 Billion of ground-up developments in six U.S. states. Creation’s alternative investment platform has co-founded four companies since 2015 and participated in the funding of more than 90 burgeoning technology startups across the country. Creation also holds several ownership positions in experiential entertainment concepts throughout the country. For more, visit CreationEquity.com.
About J.P. Morgan Global Alternatives
J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than 50 years as an alternatives investment manager, US$215 billion in assets under management and more than 700 professionals (as of December 31, 2021), J.P. Morgan offers strategies across the alternative investment spectrum including real estate, private equity, private credit, hedge funds, infrastructure, transportation, timber and liquid alternatives. Operating from offices throughout the Americas, Europe and Asia Pacific, our independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client’s specific objectives. For more information, visit jpmorgan.com/am.