J.P. Morgan Inks Tie-Up with Mainland Logistics Real Estate Investor
J.P. Morgan Asset Management’s alternatives arm will partner with New Ease China in a joint venture with an eye on the mainland’s rapidly growing logistics sector.
The joint venture with the Shanghai-based firm will include an initial portfolio of $600 million worth of logistic facilities in cities such as Shanghai, Nanjing and Suzhou.
In a statement quoting David Chen, J.P. Morgan’s CIO for the alt unit, and Sun Dongping, New Ease founder and chairman, limited supply of quality logistic properties coupled with strong tenant demand bodes well for the outlook, especially as the ongoing pandemic sparks accelerated adoption of e-commerce.
J.P. Morgan Global Alternatives currently invests globally in real estate, private equity, credit infrastructure, transpiration and hedge funds with around $145 million in assets under management.
