China’a logistics real estate platform New Ease, headquartered in Shanghai, and J.P. Morgan Asset Management have formed a new industrial joint venture to invest in logistics properties across China.
The initial portfolio for the joint venture consists of state-of-art stabilized logistics facilities of approximately $600 million developed by New Ease, strategically located in Chinese gateway cities including Shanghai, Nanjing, and Suzhou.
“We are very excited to partner with J.P. Morgan Asset Management, which has deep experience in the global real estate investment field.” Mr. Sun continued “That despite the interruptions brought by COVID-19 in China, tenant demand for quality logistic facilities remains robust – and perhaps has even strengthened – as consumers increasing shift to e-commerce,” said Sun Dongping, the founder and Chairman of New Ease in a statement.
“We’re excited to form this long-term industrial partnership with New Ease, a growing and professional logistics real estate group. The joint venture is well-positioned to capitalize on China’s supply shortage of high quality industrial property given current and future tenant demand levels.” commented by David Chen, J.P. Morgan Global Alternatives’ Chief Investment Officer for Real Estate Asia-Pacific.