Creation REa fast-growing Phoenix-based real estate investment and development firm, and institutional investors advised by JP Morgan Global Alternatives today announced a joint venture that will invest $1 billion in industrial, warehouse and logistics real estate projects in four states.
The partners will capitalize and develop seven projects, three of which have already closed and four are in the pipeline, totaling approximately five million square feet in Newark, NJ; Melville, NY; Islandia, NY; Fort Worth, TX; and Chandler, Gilbert and Phoenix, Arizona.
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“JP Morgan is an exceptional investment partner and we have assembled a portfolio of very high quality projects across the United States in a very short time,” said Josh Zemon, Managing Director of Creation. “Creation has grown rapidly over the past few years, with our current investment and development portfolio approaching $4 billion. We are grateful to JP 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 launch early next year in New York. In addition to the logistics pipeline, the design-focused company also develops various large-scale mixed-use projects.
“Creation has a proven track record of sourcing and executing differentiated industrial assets in diverse markets across the country,” said Alex Bez, Vice President, Real Estate Americas at JP Morgan Asset Management. “Investing in the right markets with leading developers like Creation has been and will continue to be a key part of our growth.”