JP Morgan's Real Estate Arm Targets High-Demand Florida Market With $25.8M Acquisition

JP Morgan Chase & Co. (NYSE:JPM) shares are trading lower on Thursday. J.P. Morgan Real Estate Income Trust, Inc. disclosed the acquisition of a two-site, three-building logistics and storage portfolio in Tampa and Pinellas Park, Florida, for $25.8 million, excluding closing costs.

This investment enables JPMREIT to acquire infill logistics facilities in one of the fastest-growing U.S. metro areas.

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The portfolio, totaling 154,490 square feet, located in densely populated ...