Americold Realty Trust has formed a new joint venture with EQT’s Active Core Infrastructure fund focused on the ownership, operation and potential development of high-quality cold storage warehouse facilities in North America.
Under the terms of the agreement, Americold will contribute 12 cold storage facilities to the joint venture with an aggregate value in excess of $1.3 billion at inception. The facilities are located across the United States and comprise a total of approximately 124 million cubic feet of temperature-controlled capacity, with more than 400,000 combined pallet positions. On a standalone basis, this joint venture is expected to be among the largest operators of cold storage facilities in North America. EQT will acquire a 70 percent interest in the joint venture, and Americold will retain a 30 percent equity interest and serve as day-to-day manager of the platform to ensure continuity of service and Americold’s proven operational excellence for customers
