Stride Property Group (Stride) announced the establishment of Industre Property (Industre), its new industrial property focussed investment management product. Industre is a joint venture with a group of international institutional investors, through a special purpose vehicle, and advised by J.P. Morgan Asset Management (together, JPMAM). Industre will own and develop for long term income producing purposes industrial property in New Zealand, primarily located in the Auckland region. Stride Property Limited (SPL) will contribute all of its industrial properties to Industre, which is intended to grow through the acquisition and development of industrial properties over time. Industre will be managed by Stride Investment Management Limited (SIML). The management agreement is consistent with those of other SIML-managed products, structured to reflect the activity-based focus of Industre in the initial years following establishment, during which time Industre is expected to grow in value through acquisitions and development activity. The overall economics of this management contract are broadly equivalent to the management contracts of other SIML-managed products.