Michigan-Based Logistics REIT Lineage Files For IPO, Seeks $30B Valuation
Michigan-Based Logistics REIT Lineage Files For IPO, Seeks $30B Valuation
Temperature-controlled storage and logistics company Lineage Inc. filed for an initial public offering (IPO), the latest REIT to join the public equities market.
温控仓储和物流公司Lineage Inc.申请首次公开募股(IPO),是最新的REIT加入公开股票市场。
What Happened: Crain's Detroit Business reported the filing on Thursday.
Crain's Detroit Business周四报道了申请的消息。
The Novi, Michigan-based company is seeking $3 billion in the IPO and a valuation upwards of $30 billion. Renaissance Capital estimated the company could raise about $3.5 billion through the IPO.
总部位于密歇根州诺维(Novi)的该公司寻求在IPO中筹集30亿美元,估值超过300亿美元。Renaissance Capital估计该公司通过IPO可能筹集约35亿美元。
Lineage has 482 warehouses in operation totaling 3 billion cubic feet of capacity as of late March. The company reported revenue of $5.3 billion and a net loss of $96.2 million in 2023.
截至3月下旬,Lineage有482个仓库,总容量达30亿立方英尺。该公司2023年报告营业收入53亿美元,净亏损9620万美元。
The company was taken over by San Francisco private equity firm Bay Grove Capital in 2008.
该公司于2008年被旧金山私募股权公司Bay Grove Capital收购。
Why it Matters: The real estate market as a whole has underperformed the market in 2024. The Real Estate Select Sector SPDR Fund (NYSE:XLRE) is down over 6% year-to-date.
总体而言,房地产市场在2024年表现不佳。房地产选择部门SPDR基金(NYSE:XLRE)的年初至今下跌超过6%。
Americold Realty Trust (NYSE:COLD) is the largest publicly traded, American competitor. The Atlanta-based company specializes in temperature-controlled warehouses and logistics.
Americold Realty Trust(NYSE:COLD)是美国最大的上市竞争对手。这家总部位于亚特兰大的公司专门从事温控仓库和物流。
Next Steps: The timing of the IPO and price range for share offerings is yet to be determined, according to the company. Lineage has opted to use KKR & Co (NYSE:KKR) to advise the IPO.
据该公司称,IPO的定价和股票发行价格区间尚未确定。Lineage选择使用KKR & Co (NYSE:KKR) 进行IPO顾问。
Lineage's shares will be traded under the symbol LINE on the Nasdaq.
Lineage 的股票将在纳斯达克上交易,股票代码为LINE。
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Image: Shutterstock
图片:shutterstock