Brooklyn-based Zenith Industrial Outdoor Storage (IOS), in partnership with institutional investors advised by J.P. Morgan Asset Management, has closed on a $130-million senior secured credit facility. The facility, provided by KeyBank and arranged by Cooper Horowitz, supports Zenith’s inaugural programmatic joint venture with J.P. Morgan Asset Management.

The initial borrowing base includes 14 IOS properties totaling approximately 130 usable acres. The portfolio is 98% leased and geographically diversified, with approximately 70% of assets located in high-growth Southeast markets and the balance located across Mountain, Midwest and West Coast regions.

The borrower group was led by Zenith’s Vinh Thai and Max Rodenborn alongside the J.P. Morgan Asset Management team. Jessica Lauerhass led the lending team on behalf of KeyBank. Justin Horowitz, Ben Knopf, and Josh Tropper of Cooper Horowitz arranged the financing. 

“We appreciate KeyBank’s confidence in the portfolio and the collaborative efforts of all parties in delivering a disciplined and efficient execution,” said Ben Atkins, co-founder and CEO of Zenith.

Don’t miss Carter Andrus, Chief Operating Officer of Prologis, as the keynote interview at Connect Industrial Midwest— taking place Tuesday afternoon, March 10, 2026, at Joe’s Live in Rosemont, IL.