Lineage Raises $1.6 Billion Amid Demand Surge for Cold Storage

Cold-storage specialist Lineage Logistics raised $1.6 billion from investors including Oxford Properties Group, private equity firm BentallGreenOak and Dan Sundheim’s D1 Capital Partners as the pandemic pressures the food-supply chain.

The closely held real estate investment trust plans to use the equity to expand, in part by pursuing acquisitions, Co-Chairman Adam Forste said.

“In addition to expanding or building new sites, we’ve closed 16 acquisitions in the year to date and our future pipeline is deep,” Forste said in an interview.

Lineage, which uses software made by companies including WorkDay Inc., Mulesoft Inc. and Turvo, is also planning ...