Lineage Logistics, a Novi, MI-based temperature-controlled industrial REIT and logistics solutions provider, raised over $700M in new equity.
The backers were unnamed new and existing strategic partners.
Led by Greg Lehmkuhl, President and CEO, Lineage Logistics is a provider of large temperature-controlled industrial REIT and logistics solutions. The company has a global network of over 400 strategically located facilities totaling over 2 billion cubic feet of capacity, which spans 20 countries across North America, Europe, and Asia-Pacific.
The new funding, which brings total equity raised since January 2020 to $6.7 billion, will support the completion of a global pipeline of more than 20 in-flight greenfield and expansion projects totaling over $1.25 billion as well as two new, fully automated U.S. superhub projects in core Southern Californian and Northeastern distribution markets. In total, these projects represent over 700,000 new pallet positions and a 7% increase in Lineage’s global capacity. Additional projects are underway to help support the growing customization of producer and retailer supply chains and create capacity in congested domestic and international markets.
FinSMEs
20/12/2022