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. Last Updated: 07/27/2016

Cold Cash

SADDLE BROOK, New Jersey -- Two real estate companies said on Monday they agreed to buy Americold Corp. and URS Logistics Inc., the nation's largest suppliers of cold storage space, for $289 million in cash plus the assumption of $660 million in debt.


The cold storage companies own 79 refrigerated warehouses with 368 million cubic feet of space that are used by companies including Tyson Foods, Kraft Foods, ConAgra and Pillsbury.


The real estate companies, Vornado Realty Trust and Crescent Real Estate Equities Co., will make the acquisition through a new venture that is 60-percent owned by Vornado and 40-percent owned by Crescent.