Provender Partners, a refrigerated real estate investor, announced a joint venture with an affiliate of Cerberus Capital Management. The partnership will focus on building a multibillion dollar portfolio of cold-storage processing facilities in the United States while bringing vital supply-chain solutions to market.

Since its founding in 2014, Provender Partners has acquired nearly $500 million of refrigerated real estate totaling 5,000,000 ft2. The investment also enables Provender Partners solutions, like its Strategic Break Bulk Freezer Facilities (BBFF) program to market. The BBFF program creates an expansive network of refrigerated buildings designed to respond to market conditions and enables food processors and farmers to pivot between bulk and individual packaging.