Lineage Logistics secures equity of US$1.6 billion

by Inside Logistics Online Staff

NOVI, Michigan – Lineage Logistics, LLC has raised US$1.6 billion in equity from new and existing investors. These include Oxford Properties Group, BentallGreenOak, D1 Capital Partners, Cohen & Steers, OPTrust, CenterSquare Investment Management, and investment funds managed by Morgan Stanley Tactical Value, among others.

During 2020, Lineage has announced 16 acquisitions and began 15 new expansions and greenfield facilities. The company also continues to develop a number of the world’s most advanced fully automated warehouses. New capital will fuel these increasingly large investments.

“Since the company’s founding in 2008, we have been on a mission to transform the food chain by building a global platform, fueling it with advanced technologies and putting in place a world-class leadership team to lead this industry,” said Adam Forste, co-executive chairman of Lineage and co-founder and managing partner at Bay Grove, which founded and manages Lineage Logistics.

“From the acquisition of our first warehouse, we have been able to build Lineage by having great investors – this capital raise adds an incredible group of new strategic partners and board participants that will further accelerate our ability to grow and innovate.”

In conjunction with this investment, Oxford Properties’ president Michael Turner will join Lineage’s Board of Directors, bringing with him decades of commercial real estate experience.

Oxford is a global investor, developer and manager of commercial real estate with approximately $60 billion in assets under management. Operating across four continents, Oxford’s portfolio spans over 100 million square feet across both  gateway cities and high-growth hubs where it invests in properties, portfolios, development sites, debt, securities and platforms.

The Company also announced new board observers, each with extensive real estate investment experience, including John Carrafiell, a founder and senior managing partner of real estate investment management and advisory firm BentallGreenOak, and Zhang Xin, CEO SOHO China, one of China’s largest and best known commercial property developers.