finance.yahoo.com

Americold completes $1.1B joint venture by placing 12 warehouses under EQT

Americold logoAmericold
Sig3.05Sen+1.35Env0.00Soc0.00Gov+0.35

Americold Realty Trust completed a cold-storage joint venture with EQT’s Active Core Infrastructure fund covering 12 U.S. temperature-controlled warehouses with more than $1.3 billion of gross asset value. EQT acquired 70% and Americold retained 30% and serves as day-to-day manager. Expected debt repayment cuts annual interest expense by ~$46 million and leverage by ~0.75 turn, with up to $70 million net exposure under a 10-year income-support arrangement if thresholds aren’t met.

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