Manulife Investment Management Acquires Cold Storage Facility to Increase Alternative Exposure in Client Portfolios

BOSTON, April 1, 2025 /CNW/ - Manulife Investment Management (Manulife IM), a company of Manulife Wealth & Asset Management, alongside Harel Insurance Investments and Financial Services Ltd., has announced the acquisition of a newly built, Class A, cold storage facility in a premier infill location in Jacksonville, FL on behalf of clients.

"Our acquisition of a core-quality, Class A cold storage asset in a critical port market aligns with our strategy to invest in industrial and industrial sub-sectors with significant tailwinds.  Similar to industrial, supply chain headwinds have created a need for state-of-the-art facilities that can keep pace with shifting consumer demand," said JP Perez, director of transactions, Real Estate Equity, U.S., Manulife IM.

The Property is 100% leased to a national cold storage third-party logistics user with a total pallet capacity of 44,000 pallets. Additional property features include a 50' clear height within the temperature-controlled space, 38 dock doors, 62 trailer parking stalls with ground power, and excess land for potential trailer parking. The Property is five miles from the Port of Jacksonville, the tenth largest port in the U.S., and a key demand driver for the Jacksonville cold storage market.

This acquisition underscores Manulife IM's strategic priority to expand its footprint in high-demand sectors and leverage strategic relationships for future growth. Manulife IM believes high barrier to entry industrial alternatives with limited supply will continue to perform well and are positioned to exhibit outsized growth in the future.

"This is a great example of the team leveraging its relationships to execute on scalable opportunities within the industrial subsectors that provide compelling spread to traditional yields with core plus risk," said Jeff Yamashiroya, managing director, Real Estate, Manulife IM.  "We will continue to seek opportunities to increase exposure to alternative real estate asset classes as a complement to new economy industrial and residential assets."

About Manulife Wealth & Asset Management

As part of Manulife Financial Corporation, Manulife Wealth & Asset Management provides global investment, financial advice, and retirement plan services to 19 million individuals, institutions, and retirement plan members worldwide. Our mission is to make decisions easier and lives better by empowering people today to invest for a better tomorrow. As a committed partner to our clients and as a responsible steward of investor capital, we offer a heritage of risk management, deep expertise across public and private markets, and comprehensive retirement plan services. We seek to provide better investment and impact outcomes and to help people confidently save and invest for a more secure financial future. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.

Media contact:
Elizabeth Bartlett
Manulife Investment Management
elizabeth_bartlett@manulife.com

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SOURCE Manulife Wealth & Asset Management