Lineage Logistics amasses $1.9B in latest funding round

Temperature-controlled industrial real estate investment trust Lineage Logistics LLC collected $1.9 billion in capital commitments in its latest funding round.

BentallGreenOak (U.S.) LP, D1 Capital Partners LP, Oxford Properties Group Inc., CenterSquare Investment Management Holdings Inc., Morgan Stanley Tactical Value Investing, Conversant Capital LLC, OPSEU Pension Trust, Cohen & Steers Inc. and other investors participated in the round.

The REIT also obtained a new $2.8 billion revolving credit facility and term loan A.

It will use the investment proceeds mainly for global greenfield project developments, facility expansions, M&A activity and technology innovations.

In connection with the investment, BentallGreenOak Senior Managing Partner and co-founder John Carrafiell joined the REIT's board.