BGO has completed the recapitalization of a six-property cold storage portfolio in the U.S.

BGO, a global firm with Canadian roots, partnered on the recapitalization with Summit, N.J.-based Saxum Real Estate.

The properties comprise about 1.5 million square feet altogether and are located in major distribution hubs in Phoenix, Atlanta, Reno, Nevada; Dallas-Fort Worth. The acquisition of a seventh property in Atlanta is expected to close shortly and increase the portfolio size to about 1.7 msf.

“This portfolio features thoughtfully designed, state-of-the-art cold storage assets that will have a profound impact on the food and beverage supply chain in the U.S. going forward,” said Saxum Principal Sean Gilbert in a news release.

The portfolio is anchored by Arcadia Cold Storage & Logistics.

Gilbert praised BGO’s expertise in the sector, adding that the Canadian firm’s Cold Chain investing platform was materially beneficial and aided Axum’s choice of the firm as a partner. 

“The scale and collective cold chain experience of this group, and BGO’s depth of financing relationships, combined to drive this unique opportunity to closing,” said BGO Managing Partner Kevin Rivest.