NEW YORK CITY, Nov. 14, 2025 –  JLL Capital Markets announced today it has arranged the recapitalization of a 1.7 million-square-foot cold storage portfolio located across nine markets nationwide.

JLL represented the joint venture between Provender Partners and affiliates of Cerberus Capital Management in the transaction, which was structured as two separate sub-portfolios. Heitman acquired the five-property, 795,000-square-foot portfolio. Artemis secured the six-property, 857,000-square-foot portfolio

The portfolio consists of 11 food-related industrial buildings located in St. Louis; Dallas; Londonderry, NH; Lake Zurich, IL; Clackamas, OR; Delanco, NJ; Lakeland, FL; Kissimmee, FL; Rialto, CA; and Vineland, NJ. The assets serve the specialized cold storage and food distribution sector with varying lease profiles and occupancy levels designed to meet diverse institutional investment strategies.

The JLL Capital Markets team was led by Senior Managing Directors Sher Hafeez, Michael Leggett and John Huguenard, Vice President Wells Waller, Director Will McCormack, Associate Josh Lieberman and Analyst Harrison Malek.

"Provender is one of the preeminent operators of cold storage properties with a strong track record spanning over 11 years," said Hafeez. "The successful transactions with two leading institutions, Heitman and Artemis, is a testament to the quality of the assets the joint venture has assembled, and the platform Provender has built."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

Securities provided by Jones Lang LaSalle Securities LLC as a member of FINRA and SIPC.

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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 113,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Provender Partners is the premier Food Related Industrial Buildings (FRIB) investor in the U.S. and the only investor 100% dedicated to FRIB. With real estate holdings throughout the United States, Provender Partners combines cutting-edge research and analysis with years of experience to ensure the best possible value for its clients in every facet of the FRIB business. In the past five years, Provender Partners has acquired nearly $965 million of refrigerated real estate totaling 9M SF; sold $780 million of property; and leased more than 7.5M SF to clients that include Performance Food Group (NYSE: PFGC), United Natural Foods (NYSE: UNFI), Dollar General (NYSE: DG), Hello Fresh and Kraft Heinz (NASDAQ: KHC). www.provenderpartners.com

Founded in 1992, Cerberus is a global leader in alternative investing with approximately $70 billion in assets across complementary credit, private equity, and real estate strategies. We invest across the capital structure where our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Our tenured teams have experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for our investors. For more information about our people and platforms, visit us at www.cerberus.com.