ATLANTA—Americold Realty Trust has acquired a 3.2 million cubic foot cold storage facility in Tampa, FL for $25 million. It has also closed on a previously announced acquisition of AM-C Warehouses in the Dallas-Fort Worth, TX market totaling 13.8 million cubic feet, for $82.5 million. The acquisitions were funded with cash on hand.
The Tampa transaction complements the REIT's existing Florida presence, says CEO Fred Boehler. "We believe we will be able to increase the asset's profitability over time by putting into practice our commercial business rules, enhancing the customer mix, and implementing the Americold Operating System," he says in prepared remarks.
"Additionally, our acquisition of AM-C Warehouses in Texas grows our capacity in this key region by 30% and expands our relationship with a leading global protein producer."
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
