The Swedish investment firm EQT Real Estate says it has acquired 11 institutional-quality logistics assets totaling 2.8 million square feet across six high-growth U.S. logistics markets, for a price of $268 million.
The 11-asset portfolio is already fully leased and features modern specifications, including an average building age of 2014, 33-foot average clear heights, and an average of 22 dock high doors per asset. The portfolio has a weighted average lease term of seven years.
Tenants span food and beverage, packaging, bulk transport, e-commerce, and aviation. By property type, the portfolio consists of 63% bulk distribution, 26% light industrial, and 11% last-mile distribution assets.
EQT Real Estate is the real estate division of EQT AB, a global investment organization headquartered in Stockholm, Sweden that manages more than €291 billion in assets across multiple geographies and sectors. EQT Real Estate serves over 100 institutional investors globally and manages more than $59 billion in assets under management.
The firm financed the acquisition through funds provided by ING Capital LLC to EQT’s Real Estate’s Core Plus Fund IV. “This transaction reflects the creative, flexible financing solutions our real estate team is able to bring to sponsors navigating complex portfolio acquisitions,” said Craig Bender, Managing Director and Head of Commercial Real Estate for the Americas at ING Capital LLC. “Logistics fundamentals remain strong, and we are pleased to support EQT Real Estate, one of the premier real estate platforms in the U.S.”
