J.P. Morgan Global Alternatives partners with Hub by Amazon, a package delivery system, for more than 23,000 multifamily rentals in the U.S.

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Jun 20, 2018, 10:30 ET

NEW YORK, June 20, 2018 /PRNewswire/ -- J.P. Morgan Asset Management today announced a deal with Amazon to outfit 85 multifamily properties comprising more than 23,000 units with Hub by Amazon, an amenity that provides quick and secure access to packages from any sender, not just Amazon.

The Hub by Amazon is fully automated and conveniently located in building lobbies or mailrooms and is free for residents to use. Installation of the Hub has begun across the country and will continue through 2018 and beyond. J.P. Morgan's agreement with Amazon, the largest of its kind for J.P Morgan, covers over 45% of the 51,000 units in the U.S. that J.P. Morgan manages on behalf of institutional investors.

"J.P. Morgan is excited to utilize innovative technology like the Hub by Amazon to enhance the resident lifestyle and experience in our communities," said J.P. Morgan's Brett Kahn, Executive Director and national multi-family sector specialist. "Our tenants will enjoy convenient access to their deliveries, day or night, regardless of the sender or carrier. And the Hub will free up community staff to provide higher value-add services to the property and resident base."

With more than $64 billion in assets under management as of March 31, 2018, J.P. Morgan Real Estate Americas is a leader in U.S. real estate equity and mezzanine debt investing for a global investor base.

About J.P. Morgan Global Alternatives
J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than $130 billion in assets under management and over 800 professionals (as of March 31, 2018), we offer strategies across the alternative investment spectrum including real estate, private equity and credit, infrastructure, transportation, liquid alternatives, and hedge funds. Operating from 23 offices throughout the Americas, Europe and Asia Pacific, our independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client's specific objectives. For more information: www.jpmorganassetmanagement.com.

About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of $1.5 trillion, is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. JPMorgan Chase & Co. (NYSE: JPM), the parent company of J.P. Morgan Asset Management, is a leading global asset management firm with assets of approximately $2.5 trillion and operations worldwide. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

J.P. Morgan Asset Management is the brand for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide.

SOURCE J.P. Morgan Asset Management