EQT Real Estate has added a fully-let 2m sqft logistics portfolio to its US assets.
The investment firm’s EQT Exeter Industrial Value Fund VI has acquired the four facilities in Manteca, California.
The properties are leased to four tenants from various industries. With a weighted-average lease term of less than three and a half years, the portfolio presents an opportunity for significant rental growth in the near term, EQT said.
Matthew Brodnik, global CIO at EQT Real Estate, said: “This acquisition reflects our conviction in investing behind well-located, institutional-quality logistics assets in dynamic markets.
“With a strong tenant profile, operational upside and clear growth potential, we’re excited to bring these properties into the EQT Real Estate platform and execute our hands-on, locals with locals approach to value creation.”
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