Miami (November 11, 2024) – BGO Cold Chain, the cold storage business line of BGO, a leading global real estate investment manager, announced the acquisition of Medley Cold Logistics, a 178,000+ sq. ft. cold storage warehouse in Miami, Florida. The property was acquired on behalf of BGO’s Core Plus strategy, and is 100% leased to Quirch Foods, an international food distribution company.
The purchase of Medley Cold Logistics follows the joint acquisition of Miami-based SkyChefs Cold Storage with Iconic Equities in 2023 and adds to BGO’s growing cold storage portfolio in Florida which includes three development projects; Tampa Cold Logistics, and two build-to-suit projects in the Jacksonville area.
“The BGO Cold Chain team is helping to deliver value for our investors, clients and partners with our in-house expertise in a highly technical sector of the commercial real estate market with high barriers to entry. This latest acquisition reflects the strength and expertise of both our US Core Plus team and our BGO Cold Chain relationships in the market, and our commitment to partnering with our tenants to provide solutions that prioritize their operations and the long-term health of their businesses” said Jonathan Epstein, Managing Partner and Global Head of BGO Cold Chain. “Across an array of our global strategies, Medley Cold Logistics adds to a growing portfolio of over 70 acquired or developed cold storage assets globally, and further underscores our conviction to this asset class and our intention to be a leader for the long term.”
Situated on 15 acres, Medley Cold Logistics maintains 32-foot clear heights, 29 loading docks, 236 parking spaces and 116,000 square feet of freezer space. The facility offers seamless access to Florida’s Turnpike, US-27, and State Road 826 (the Palmetto Expressway) and is located near the Miami International Airport and the Port of Miami. The property’s expansive site also has favorable attributes for strategic expansion, where BGO’s experienced, in-house development team stand ready to deliver bespoke solutions to meet the future growth needs of the tenant.
The seller was advised by the JLL Investment Sales and Advisory team led by Managing Director Luis Castillo, Senior Director Cody Brais and Associate Taylor Osborne.
BGO is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BGO serves the interests of more than 750 institutional clients with approximately $85 billion USD of assets under management (as of September 30, 2024) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BGO has offices in 27 cities across thirteen countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets. BGO is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.
The assets under management shown above includes real estate equity and mortgage investments managed by the BGO group of companies and their affiliates, and as of 1Q21, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment.
For more information, please visit www.bgo.com
Media Contact
Rahim Ladha
Global Head of Communications
media@bgo.com