Cerberus Enters Joint Venture to Amass Cold-Storage Property
- Money manager partners with investor Provender Partners
- Demand is rising for refrigerated space for food supply chain
Photographer: Luke Sharett/Bloomberg
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Cerberus Capital Management is entering a joint venture to build a multibillion-dollar portfolio of cold-storage facilities, seeking to capitalize on rising demand for warehouses to accommodate the food supply chain.
The alternative-asset manager is partnering with Provender Partners, a Newport Beach, California-based investor in refrigeration real estate, the companies said in a statement Tuesday. They aim to acquire properties across the U.S. for food-related tenants.