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Karis Cold Recapitalizes with New Partner
Karis Cold Storage, a Schaumburg, IL-based cold storage investment and development platform, closed on a recapitalization of the company to add an affiliate of Winter Properties, in addition to its existing investor, a client of BLG Capital Advisors. Terms of the transaction weren’t disclosed.
As part of the new venture, Karis Cold recently closed on two development sites in Los Angeles and Denver, the latter of which is anticipated to be a build-to-suit opportunity with one of the largest cold storage operators in the country. Karis Cold also owns an existing cold storage facility in Chicago.
“Cold storage buildings are somewhat of a blend between infrastructure assets, operating businesses and traditional industrial properties,” said Karis Cold CEO Jake Finley. “In BLG and Winter, we are thrilled to have partners who understand our unique assets, and who complement our team’s deep expertise in cold storage development and operations.”
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- ◦Financing
