{"id":1004693884,"date":"2023-12-12T04:57:59","date_gmt":"2023-12-12T12:57:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004693884"},"modified":"2023-12-20T07:46:39","modified_gmt":"2023-12-20T15:46:39","slug":"saxum-bgo-recapitalize-1-5-msf-cold-storage-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/saxum-bgo-recapitalize-1-5-msf-cold-storage-portfolio\/","title":{"rendered":"Saxum, BGO Recapitalize 1.5 MSF Cold Storage Portfolio"},"content":{"rendered":"
\"Saxum<\/a>

One of Saxum’s cold storage facilities in Atlanta. Image courtesy of Saxum Real Estate<\/em><\/p><\/div>\n

Saxum Real Estate<\/strong>, together with equity capital partner BGO<\/strong>, has completed the recapitalization of an approximately 1.5 million-square-foot cold storage portfolio.<\/p>\n

The collection comprises six recently built properties located in major U.S. distribution hubs such as Phoenix, Atlanta and Dallas-Fort Worth but also in Hazleton, Penn., and Reno, Nev. A seventh facility, situated in Atlanta, is expected to close shortly, bringing the portfolio to nearly 1.7 million square feet.<\/p>\n

The recapitalization process involved three separate transactions. In one of the deals, PGIM Real Estate<\/strong> provided permanent debt financing for the Atlanta, Hazleton, Penn., and Dallas-Fort Worth assets.<\/p>\n

\n

READ<\/strong> ALSO<\/strong>: Can Cold Storage Keep Its Cool This Summer?<\/a><\/p>\n

\n

Arcadia Cold Storage & Logistics, a leading cold storage operator, occupies nearly 81 percent of the 1.7 million-square-foot portfolio. Each property features 50-foot clear heights, container handling services, ample dock space and convertible rooms with temperature between -10 and 38 degrees F.<\/p>\n

Cold storage continues to show its recession-proof qualities despite the current economic uncertainties, said Saxum Principal Sean Gilbert in prepared remarks. The company has more than 2 million square feet of cold storage space and its development pipeline includes over $1 billion in capitalization across cold storage, industrial and multifamily investments.<\/p>\n

Other moves on the cold storage front<\/h2>\n

In October, Lineage Logistics expanded its Eastern and Midwestern U.S. footprint with the acquisition of a 1.3 million-square-foot cold storage portfolio<\/a>. The portfolio includes eight warehousing and e-commerce assets spread across six states.<\/p>\n

In an earlier deal, Vertical Cold Storage purchased MWCold,<\/a> an operator of two-temperature-controlled warehouses totaling 545,000 square feet in the Indianapolis area. The acquisition was sponsored by Platform Ventures.<\/p>\n","protected":false},"excerpt":{"rendered":"

The deal involved six recently built facilities located in major U.S. distribution hubs.<\/p>\n","protected":false},"author":2991,"featured_media":1004693891,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21748,21783,23891,21742],"tags":[52263,34714,52262],"class_list":["post-1004693884","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-industrial","category-investment","category-national","category-latest","tag-bgo","tag-pgim-real-estate","tag-saxum-real-estate"],"acf":[],"yoast_head":"\nSaxum, BGO Recapitalize 1.5 MSF Cold Storage Portfolio - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Saxum Real Estate and equity capital partner BGO have completed the recapitalization of a 1.5 million-square-foot cold storage portfolio.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/saxum-bgo-recapitalize-1-5-msf-cold-storage-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saxum, BGO Recapitalize 1.5 MSF Cold Storage Portfolio\" \/>\n<meta property=\"og:description\" content=\"Saxum Real Estate and equity capital partner BGO have completed the recapitalization of a 1.5 million-square-foot cold storage portfolio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/saxum-bgo-recapitalize-1-5-msf-cold-storage-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-12T12:57:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-20T15:46:39+00:00\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/Atlanta-GA-e1702379036221.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/saxum-bgo-recapitalize-1-5-msf-cold-storage-portfolio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/saxum-bgo-recapitalize-1-5-msf-cold-storage-portfolio\\\/\"},\"author\":{\"name\":\"Simona Tudose\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/4659e2337f06b61cefc6b0b897d183a4\"},\"headline\":\"Saxum, BGO Recapitalize 1.5 MSF Cold Storage Portfolio\",\"datePublished\":\"2023-12-12T12:57:59+00:00\",\"dateModified\":\"2023-12-20T15:46:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/saxum-bgo-recapitalize-1-5-msf-cold-storage-portfolio\\\/\"},\"wordCount\":291,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/saxum-bgo-recapitalize-1-5-msf-cold-storage-portfolio\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/12\\\/Atlanta-GA-e1702379036221.jpg\",\"keywords\":[\"BGO\",\"PGIM Real Estate\",\"Saxum Real Estate\"],\"articleSection\":[\"Finance\",\"Industrial\",\"Investment\",\"National\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/saxum-bgo-recapitalize-1-5-msf-cold-storage-portfolio\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/saxum-bgo-recapitalize-1-5-msf-cold-storage-portfolio\\\/\",\"name\":\"Saxum, BGO Recapitalize 1.5 MSF Cold Storage Portfolio - 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