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Zenith IOS Finalizes $120M in Loan Pools for 30 Assets Nationwide
A partnership of Brooklyn-based Zenith IOS and institutional investors advised by J.P. Morgan Asset Management has closed on the second and final tranche of a $120-million financing with Washington Capital Management. The deal consists of two loan pools covering regional portfolios totaling 30 industrial outdoor storage assets nationwide.
The financing was arranged by Justin Horowitz of Cooper Horowitz, LLC, a family-owned capital advisory firm specializing in debt and equity placement across all types of real estate. “This execution demonstrates how the industrial outdoor storage sector continues to mature and attract interest from a wide variety of capital partners,” said Daniel Laub, COO and co-founder of Zenith IOS. “We continue to see and embrace the institutionalization of the IOS sector as capital sources – both debt and equity – seek to invest in what they increasingly view as an essential asset class.”
The financed assets are geographically diversified across Zenith’s target markets where strong IOS tenant demand is coupled with a reduced infill supply.
Pictured: Zenith IOS’ 2222 N Wayside Dr., Houston.
- ◦Financing
