Bain Capital, through its special situations strategy, has partnered with commercial real estate developer Barber Partners LLC to form a national programmatic joint venture.

The partnership will focus on the development of 15 Class-A cold storage warehouse projects with the Chill Storage brand. The joint venture intends to deploy $500 million in asset value across the coming years. The partnership’s first project is a freezer and cooler facility based out of the Dallas-Fort Worth metroplex.

“We are excited to partner with the Barber team to deliver next-generation refrigerated and freezer storage space,” said David DesPrez, a Director at Bain Capital. “With the growing complexity of the food and beverage supply chain, we believe our highly adaptable, modern warehouse design will allow us to meet the full spectrum of food tenant needs and provide critical infrastructure to the U.S. food distribution system.”

JLL advice Barber Partners on the deal.