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Creation RE Forms Joint Venture With J.P. Morgan To Sink $1B Into Industrial Developments

A Phoenix-based real estate investment company is teaming up with finance giant J.P. Morgan Global Alternatives to invest $1B in seven development projects across the U.S.

Park Algodon development in North Phoenix, one of the joint venture's planned projects.

Creation RE, a firm specializing in ground-up developments, said the joint venture will invest in projects totaling about 5M SF of industrial, warehouse and logistics real estate across four states, New York, New Jersey, Texas and Arizona. Three of the projects are already closed while the remainder are in the pipeline.

The projects are in Newark, New Jersey; Melville and Islandia, New York; Fort Worth, Texas; and Chandler, Gilbert and Phoenix, Arizona.

“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,” Josh Zemon, managing principal of Creation, said in a statement. 

Founded in 2018, Creation has an investment and development pipeline of around $4B and is active in five states, according to its website. The majority of its real estate value is in industrial but it also has $550M worth of retail/mixed-use projects.  

“Creation has a demonstrated track record of sourcing and executing on differentiated industrial assets in various markets across the country,” Alex Bez, vice president, real estate Americas at J.P. Morgan Asset Management, said in a statement. “Investing in the right markets with top-tier developers like Creation has been and will continue to be a key part of our growth.”