Sterling Bay Companies has entered into a joint venture with institutional investors advised by J.P. Morgan Asset Management for real estate investment activities.
Sterling Bay is a Chicago-based real estate investment and development company and J.P. Morgan is a widely recognized global real estate advisor with $74 billion of real estate assets under management (as of March 31, 2014).
Sterling Bay will contribute the Fulton Market assets the firm has acquired over the last 12 months to the venture and J.P. Morgan will co-invest and co-develop the properties with Sterling Bay. The partnership will include future investment and development opportunities in Chicago and elsewhere.
“Partnering with an investor of J.P. Morgan’s caliber provides Sterling Bay with increased credibility and capacity in the marketplace as we continue to build the company in a purposeful manner,” said Sterling Bay Principal John Gavin. “We have been seeking a strategic partner for several years and have known J.P. Morgan to be a formidable firm with a heritage of disciplined real estate investing.”
