Cold Storage Heavy Hitter Lineage Logistics Closes $1.9B Equity Raise

Major cold storage player Lineage Logistics has closed a $1.9 billion equity raise—the largest in the REIT’s history—from investors including BentallGreenOak, D1 Capital Partners, Oxford Properties, CenterSquare Investment Management, MS Tactical Value and Conversant Capital, OP Trust, and Cohen & Steers.

A significant portion of the $1.9 billion in new capital will be used “to double down on new and disruptive technologies to design the temperature-controlled warehouse of the future,” the company said in a statement. Lineage is developing algorithmic programming and automation software to streamline operations within its warehouses, and earlier this year announced the launch of Lineage Link, an integrated customer experience platform that allows collaboration across customers’ supply chains.