Invesco Real Estate and Jera Asset Management have formed a joint venture called Mercury Trust to purchase up to $3 billion in industrial assets over the next three to five years.

Mercury Trust will acquire industrial real estate focusing on distribution centers, logistics properties, and cold storage warehouses. The joint venture was seeded with nearly $500 million of assets throughout the country acquired or under contract to be acquired in the near future. To help fund future acquisitions, Mercury Trust obtained a credit facility totaling $675 million.

On behalf of an institutional client, Invesco Real Estate made a significant equity commitment for investment in future acquisitions through Mercury Trust. "We are pleased to enter this partnership with Jera through Mercury Trust and look forward to growing the relationship," commented Greg Kraus, managing director and head of transactions at Invesco Real Estate. "We share Jera's positive outlook on the industrial space, and the opportunities the sector presents."