OAKLAND, CA—The cold storage industrial segment has always played an integral role in the US food supply chain and that has never been truer than during the past 10 months and counting. As a result, many companies are capitalizing on cold storage opportunities which build on these market dynamics.

Refrigerated real estate investor Provender Partners has entered into a joint venture with an affiliate of Cerberus Capital Management LP, a global alternative investor. The partnership will focus on building a multibillion-dollar portfolio of cold storage processing facilities in the United States, while bringing vital supply chain solutions to market. And, the joint venture will focus on a broad range of US acquisition opportunities across all markets.

"Together with Provender Partners, we will be able to acquire and enhance cold storage facilities across the United States to build a national portfolio of high-quality assets and meet the critical needs of food-related tenants," says Tom Wagner, head of North American Real Estate at Cerberus.