Realterm and J.P. Morgan have partnered to acquire a 1.74 million-square-foot logistics portfolio in a 50/50 joint venture. The portfolio is located in 28 core US industrial markets, including Chicago, Atlanta, Dallas, New Jersey, New York, and Philadelphia.

The portfolio has impressive stats. It totals 54 properties and is located on a combined 717 acres with 2,090 doors. Each of the assets has direct access to highways, airports and seaports. Debevoise & Plimpton LLP provided legal services to J.P. Morgan Asset Management on this deal.

Stephen Panos, SVP and fund manager at Realterm, described the acquisition as a rare opportunity. "They offer excellent functionality to a wide variety of our customers seeking efficient facilities for final mile and transload operations," he said in a statement. Mike Kelly, head of real estate for the Americas at J.P. Morgan Asset Management, added that portfolios of this size and caliber rarely come to market.