July 26 2024
A significant event in the REIT world occurred yesterday with the Initial Public Offering of Lineage, the largest temperature-controlled warehouse real estate investment trust (REIT) in the world. The company raised $4.4 billion at an implied valuation over $18 billion, making it the largest public offering since chip designer Arm's $4.8 billion listing last September and more than twice the size of cruise operator Viking Holdings, which went public in May.
One of the biggest factors in the company’s success is its aggressive acquisition strategy with 116 acquisitions since inception. It has amassed over 480 facilities, totalling roughly 2.9 billion cubic feet of capacity across countries in North America, Europe, and the Asia-Pacific region. These locations create a global network of cold-storage facilities, reducing supply chain food waste and its environmental impact.
Tune into CNBC’s fascinating 6-minute interview with the co-founders in this YouTube link https://cnb.cx/46hFnpV