The cold storage business of global real estate investment manager BGO has added a 178,000sqft warehouse to its US portfolio.
BGO Cold Chain, investing through its core-plus strategy, has acquired the fully-let Medley Cold Logistics asset in Miami, Florida for an unspecified sum.
Medley Cold Logistics, located on a 15-acre site, offers expansion potential.
The Medley Cold Logistics asset adds to BGO Cold Chain’s cold storage portfolio in Florida. This follows the joint acquisition of Miami-based SkyChefs Cold Storage with Iconic Equities in 2023 and complements the firm’s three ongoing development projects in Tampa and Jacksonville, the manager said.
Jonathan Epstein, managing partner and global head of BGO Cold Chain, said: “The BGO Cold Chain team is helping to deliver value for our investors, clients and partners with our in-house expertise in a highly technical sector of the commercial real estate market with high barriers to entry. This latest acquisition reflects the strength and expertise of both our US Core Plus team and our BGO Cold Chain relationships in the market, and our commitment to partnering with our tenants to provide solutions that prioritise their operations and the long-term health of their businesses.
“Across an array of our global strategies, Medley Cold Logistics adds to a growing portfolio of over 70 acquired or developed cold storage assets globally, and further underscores our conviction to this asset class and our intention to be a leader for the long term.”
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