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Primeiro advises Inland Corporation on its cold storage asset sale-leaseback to AyalaLand Logistics Holdings Corp.

Primeiro Finance News

MANILA, Philippines — The Ayala Group has strengthened its logistics arm by increasing its cold storage capacity as part of its vision to be the leading real estate logistics and industrial parks developer and operator in the Philippines.

AyalaLand Logistics Holdings Corp. (ALLHC) acquired Technofreeze, a cold storage facility located in Laguna Technopark, as well as the 11,800 square meter property on which the facility stands, for a total purchase price of P408.8 million.

Technofreeze is an established cold storage facility in Laguna with proven track record of serving companies with diverse products such as processed meat products, dairy and ice cream, and adhesives.

With the acquisition, ALLHC will assume ownership of the existing operating facility, and this will be under ALLHC’s cold storage brand, “ALogis Artico.”

ALogis Artico Biñan is located within the 471-hectare Laguna Technopark, one of ALLHC’s premier industrial estates spanning the cities of Sta. Rosa and Biñan.

Technofreeze has 17 cold storage rooms up to -25 °C with 4,000 pallet positions; three processing rooms with an adjustable temperature of 0 to 25 °C; four dry storage rooms with 1,600 pallet positions; two blast freezers with a combined capacity of 25 tonnes, and several office spaces.

Technofreeze is accredited by the Department of Agriculture to cater to products like fruits and vegetables and likewise, meat, fisheries and aquatic products.

It is accessible via the South Luzon Expressway (SLEX), just six kilometers away from the facility. This cold facility will complement the warehouse leasing business of ALLHC.

ALLHC has been expanding to meet the growing demand for logistics services and cold storage facilities in the Philippines especially in this time of the COVID-19 pandemic.

At present, ALLHC has interests in real estate and property development, leasing of warehouses and retail electricity supply including the following subsidiaries: Orion Land Inc. (OLI), Orion Property Development Inc., LCI Commercial Ventures Inc., Ecozone Power Management Inc and LTI.

Date: April 15, 2021

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