Greenville, SC (January 11, 2022) — RealtyLink proudly announces the launch of a programmatic joint venture with BentallGreenOak (BGO) focused on the development of cold storage warehouses. This joint venture will construct a portfolio of Class-A cold storage facilities across the U.S., capitalized by a significant future equity commitment from BGO and RealtyLink. RL Cold, a division of RealtyLink, represents a continued expansion into cold storage and, more broadly, the industrial asset class.
“This partnership with BGO is monumental in the growth and diversification of our company,” said RealtyLink Founding Principal Phil Wilson. “The venture will work to resolve an identified cold storage need for numerous suppliers around the country. We are extremely optimistic about this endeavor and what it means for RealtyLink.”
RL Cold’s development team is based out of the firm’s Atlanta office, led by Principal, Thomas Eldridge and VP of Cold Storage, Josh Lewis.
“We have forged an aggressive expansion plan to solve for the measurable deficiencies within the cold chain and aligning ourselves with BentallGreenOak, a leader in cold storage real estate investment, further solidifies our commitment to the sector,” added Thomas Eldridge. We believe RL Cold is poised to become one of the most prolific cold storage developers in the U.S. for years to come.”
The first projects acquired by the venture are located near Houston, TX and Charleston, SC. The Houston area project will be 283,000 SF of convertible freezer/cooler storage located in Baytown, TX, and is actively under construction with completion scheduled for August 2022. The Charleston area project will be 300,000 SF of convertible freezer/cooler space located in Ridgeville, SC with construction expected to commence in early 2022 with a targeted completion date of March 2023.
About RealtyLink, LLC and RL Cold
RealtyLink, LLC, a full-service real estate developer headquartered in Greenville, SC, was founded in 1998 by Phil and Neil Wilson, with Jack Jamison joining the partnership in 2001. Specializing in industrial, entertainment, residential, and retail properties, RealtyLink provides a full spectrum of services including market analysis, site selection, construction management, project funding, sale leasebacks, and much more.
RL Cold, a division of RealtyLink, is focused out of its Atlanta, GA office. It leads the company’s initiatives and is the driving force behind the cold storage developments across the country.
BentallGreenOak is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $70 billion USD of assets under management (as of September 30, 2021) and expertise in the asset management of office, industrial, multi-residential, retail and hotel property across the globe. BentallGreenOak has offices in 24 cities across twelve countries with deep, local knowledge, experience, and extensive networks in the regions where BentallGreenOak invests in and manages real estate assets on behalf of clients in primary, secondary and co-investment markets.
BentallGreenOak is a part of SLC Management, which is the alternatives asset management business of Sun Life.
The assets under management shown above include real estate equity and mortgage investments managed by the BentallGreenOak group of companies and their affiliates. As of 1Q21, BentallGreenOak changed its definition of Total AUM to include certain uncalled capital commitments for discretionary capital until they are legally expired and continue to exclude certain uncalled capital commitments where the investor has complete discretion over investment.
For more information, please visit www.bentallgreenoak.com
Global Head of Communications, BentallGreenOak