The Newmark Group has raised $US500 million to capitalize a new cold storage company known as Envision Cold (Envision).
The investment allows Envision to acquire and develop over $1.5 billion of cold storage assets.
Envision plans to continue acquiring and developing a network of facilities across North America, focusing on markets that are underserved by cold storage from both a physical infrastructure and customer service perspective.
Providing its users with various services, including traditional cold storage, import/export services, transportation and blast freezing,
Envision has engaged a preeminent real estate development team to oversee all ground-up development projects, which will be essential to the company's growth.
Envision CEO, Austin Solem, launched the company this week and revealed plans to become one of the preeminent cold storage companies in North America.
"The magnitude of this investment was driven by the strength of not only our team's commitment to innovation and service but also to the opportunity within the market itself. The cold storage industry is stronger than ever, and it needs more national providers to satisfy the increasing demand,” he said.
Led by an executive l
eadership team with a deep history in the cold storage industry, having previously worked together at the world's second-largest cold storage owner/operator, Americold, Envision continues to build out a best-in-class organization to oversee the expansion and operation of the platform.