TFC · News · 20260805N
Industrial Storage Credit Facility
TRUIST FINANCIAL CORP · 2026-08-05 · Importance 13 · Surprise 6 · In source text
Truist and KeyBank provided Zenith Industrial Outdoor Storage and J.P. Morgan Asset Management with a $215 million credit facility. The financing supports Zenith’s second programmatic joint venture with JPMAM and expansion of its industrial outdoor-storage portfolio. The facility refinances 34 assets across the Southeast, South Central, and Southwest markets, with the portfolio 99.6% leased.
Key facts
- Zenith Industrial Outdoor Storage and J.P. Morgan Asset Management secured a $215 million credit facility from KeyBank and Truist to support Zenith's second programmatic joint venture with JPMAM. source
- The $215 million facility refinances 34 industrial outdoor storage assets primarily across the Southeast, South Central, and Southwest markets. source
- The refinanced IOS assets are 99.6 percent leased. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | positive | committed | — | Zenith Industrial Outdoor Storage and J.P. Morgan Asset Management secured a $215 million credit facility from KeyBank and Truist to… |