Invesco Real Estate, Global Real Estate Investment Manager, and Jera Asset Management, a national real estate investment firm that leases net leases to quality credit tenants, have formed a strategic joint venture company Mercury Trust to take advantage of strong industrial markets.
The Mercury Trust has been seeded with approximately $ 500 million in nationwide assets that have been acquired or are under contract to acquire in the near future.
Invesco Real Estate, on behalf of an institutional client, has made significant commitments to invest in future acquisitions through the Mercury Trust. The Mercury Trust also received a $ 675 million line of credit for current and future acquisitions.
“The newly formed joint venture between Mercury Trust and Invesco Real Estate is a landmark event for all of us at Jera,” said Jera Managing Partner David Kay. “Our team has been working in net leasing for several decades and was one of the first in the industrial sector. This venture continues our strategy of partnering with world-class institutions that not only provide us with financial support, but also provide the scale that will enable us to become an industry leader. ”
Carrington Guy, Managing Partner of Jera, added: “We are very excited about our partnership with Invesco Real Estate and the future opportunities offered by the Mercury Trust. Invesco’s reputation as one of the world’s leading investment managers and a leader in commercial real estate, coupled with our ability to initiate acquisitions of industrial assets and manage portfolios, will enable us to significantly expand the Mercury Trust. ”
“We are delighted to enter this partnership with Jera through the Mercury Trust and look forward to expanding the relationship,” commented Greg Kraus, managing director and head of transactions at Invesco Real Estate. “We share Jera’s positive view of industrial space and the opportunities this sector presents.”
Vinson & Elkins advised Jera Asset Management on a strategic joint venture agreement.
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