What is Lineage?
Headquartered in Novi, Michigan, Lineage operates as the world's largest temperature-controlled warehouse REIT. The company provides an integrated suite of cold chain solutions, encompassing warehousing, transportation, port services, and high-pressure processing. By leveraging advanced data analytics and automation, Lineage optimizes the movement and storage of perishable goods, effectively bridging the gap between producers and consumers. Its market position is defined by a massive, interconnected network of facilities that serve as the backbone for global food security, making it a vital component of the modern industrial real estate landscape.
How much funding has Lineage raised?
Lineage has raised a total of $11B across 12 funding rounds:
Debt
$220M
Debt
$700M
Multiple Rounds
$1.2B
Other Financing Round
$1.9B
Unspecified
$1.7B
Unspecified
$700M
Stock Offering
$4.4B
Other Financing Round
$100M
Stock/Share Issuance
$1.5M
Debt (2013): $220M with participation from Undisclosed
Debt (2018): $700M led by Stonepeak Partners and D1 Capital Partners
Debt (2020): $500M supported by KKR, Barclays, and Credit Suisse
Debt (2020): $300M featuring Credit Suisse
Private Equity (2020): $80M backed by CenterSquare Investment Management LLC
Private Equity (2020): $360M with participation from Oxford Properties Group
Other Financing Round (2021): $1.9B led by D1 Capital Partners, OP Trust, CenterSquare Investment Management, BentallGreenOak, MS Tactical Value, Oxford Properties, Conversation Capital, and Cohen & Steers
Unspecified (2022): $1.7B supported by D1 Capital Partners, Cohen & Steers, CenterSquare Investment Management, and BentallGreenOak
Unspecified (2022): $700M, investors not publicly disclosed
Stock Issuance/Offering (2024): $4.4B, investors not publicly disclosed
Other Financing Round (2024): $100M, investors not publicly disclosed
Stock/Share Issuance (2026): $1.5M, investors not publicly disclosed
Key Investors in Lineage
Cohen & Steers
A leading global investment manager specializing in real assets and alternative income, including real estate, preferred securities, and infrastructure.
CenterSquare Investment Management
An independent and diversified real asset manager specializing in listed real estate, private equity real estate, and private real estate debt.
BentallGreenOak
A global real estate investment management advisor with a focus on sophisticated analytics, insightful research, and industry-leading sustainability commitments.
What's next for Lineage?
With the successful closure of this major strategic investment, Lineage is well-positioned to accelerate its expansionary roadmap. The company is expected to prioritize the integration of next-generation automation technologies and the expansion of its global footprint to meet the rising demand for resilient supply chain infrastructure. By focusing on operational efficiency and sustainable growth, Lineage aims to solidify its leadership in the cold storage sector, potentially exploring further diversification in its service offerings to include enhanced digital supply chain management tools. The firm remains focused on long-term value creation for its institutional partners while maintaining its commitment to the integrity of the global food supply chain.
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