Ti Cold Development, a division of Tippmann Innovation, announced that global real estate investment manager BentallGreenOak (BGO) has committed to providing capital to fund real estate development in all of Ti Cold Development’s land positions. BGO has been a leader in the development and acquisition of cold storage assets in North America, Europe, and Asia for over 5 years. According to a press release, BGO’s equity commitment to Ti Cold Development will support the construction and development of state-of-the-art cold storage assets in multiple Ti Cold Development markets in the US and Canada.
Ti Cold Development will initially access this capital for the company’s growth into pre-identified key markets in the US and Canada, beginning with two projects underway in Phoenix, Arizona, and Reno, Nevada. Ti Cold Development’s projects represent innovative, ESG focused, sustainable solutions targeted to meet the critical market demand-driven needs for cold storage infrastructure and are poised to make long-lasting, positive impacts to the environment and cold storage industry.
“Ti has a deep relationship with BentallGreenOak — dating back to our first engagement with the firm in the development of a cold storage facility in Seattle in 2017. BGO’s global track record of investment in cold storage real estate development is strong. Drawing on our relationship with BGO as our capital partner, Ti Cold Development is positioned to continue building on the foundation it has laid over the course of two decades to continue advancing the development of essential cold storage infrastructure in underserved markets throughout North America,” Sam Tippmann, principal at Ti Cold Development said. “We believe that through the powerful combination of our cold storage development experience and BGO’s real estate capital, Ti Cold Development will be able to realize its vision to build a scalable, socially responsible, and environmentally conscientious cold storage industry, in each of the markets and regions in which we build.”