UBS Asset Management collaborates with PGGM, family offices to deliver U.S. cold storage facilities

UBS Asset Management’s Real Estate & Private Markets (REPM) business has partnered with Dutch pension fund manager PGGM and a select group of family offices to develop cold storage facilities in the United States.

UBS said the initial investment of approximately $700 million will be utilized to construct large build-to-suit, state-of-the-art food cold storage facilities across major food and transportation centers.

“We are excited to collaborate with UBS on this strategy to develop modern, efficient and sustainable cold storage facilities across the U.S., which fits well with PGGM’s focus on sustainable investment initiatives,” said PGGM’s private real estate team.

UBS is one of the largest institutional managers of farmland in the United States, currently managing more than 280,000 farmland acres across 16 different states and more than 30 different major perishable and nonperishable food crops.

“By bringing together our firm’s expertis