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Lineage Logistics Will Fuel Expansion with $1.6B in Equity
Lineage Logistics, LLC, the temperature-controlled industrial and logistics REIT headquartered in Novi, MI, said Wednesday it had raised $1.6 billion in equity from new and existing strategic partners. Participating investors include Oxford Properties Group, BentallGreenOak, D1 Capital Partners, Cohen & Steers, OPTrust, CenterSquare Investment Management and investment funds managed by Morgan Stanley Tactical Value.
Lineage president and CEO Greg Lehmkuhl said the investment was “validation of our business model, our innovative strategy and our plans to continue expanding our footprint as the world’s largest temperature-controlled warehousing and logistics company.”
During 2020, Lineage has announced 16 acquisitions and executed on 15 new expansions and greenfield facilities. The company is also continuing to develop fully automated warehouses that it says will reduce environmental intensity.
Morgan Stanley and Eastdil Secured acted as placement agents, and Latham & Watkins, LLP served as legal counsel for Lineage.
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- ◦Financing