Chad Tredway

In a competitive environment, J.P. Morgan Asset Management (JPMAM) has plenty of arrows in its quiver, but one stands out as a top flyer through the crowded woods.

“It’s our network and information advantage,” Chad Tredway said. “We have the ability to get to any real estate owner at any time, and the ability to overlay J.P. Morgan data for half of U.S. households on top of our decisions to buy or sell.”

It’s been a busy year for Tredway’s platform, and the volatility hasn’t deterred his teams from innovating and investing.

“We have the most active core strategy in the U.S. in the ODCE index,” Tredway said, referring to an index for private institutional real estate investment. “We sold $5.5 billion of assets in the last two years, and we’re No. 1 for performance in the last 24 months.

“We also provided more liquidity than anyone in our index,” Tredway added. “We provided 20 percent of the liquidity in the ODCE index, even though we’re only roughly 10 percent of the overall index. We also had the largest drop in a redemption queue in the history of our index. So we went from over $7 billion down to less than $2 billion. We also raised over $2 billion of new capital to go into core last year. So I think what you could say is we saw a turning point for core, and we’re leading the pack because we are No. 1 in performance, No. 1 in fundraising, No. 1 in the redemption queue drop, and No. 1 in both buying and selling.”

In terms of transaction action, JPMAM sold North Park Mall in Dallas at a 5.3 percent cap rate, and also sold a stake in New York’s 1345 Avenue the Americas to Blackstone.

JPMAM also continues to lead the pack when it comes to real estate alternatives. “So, industrial outdoor storage (IOS), single-family for rent, truck terminals and logistics real estate, and then we’ve got a specialized build-to-suit partner as well,” Tredway explained. “We signed the largest industrial lease in history last year, which is also insane and that will pay us $1.4 billion in rent over a 20-year period.”

On the IOS front, JPMAM just announced a strategic investment to grow Zenith IOS’s platform. Its advanced manufacturing activities, too, continue to be a huge focus.

In 2026, a key change is that transactions are smaller than the year before for JPMAM.

“We like an aggregation strategy for this environment,” Tredway said. “We’re tending to sell our larger assets, and then dollar cost averaging the smaller ones. In terms of fundraising, we have a very focused strategy, and our non-traded REIT went from 10 to 63 assets over the last few years — we’re the fastest-growing non-traded REIT in our index [Stanger].”