EQT Real Estate has acquired a $241.2m (€206.5m) US industrial portfolio from Mapletree Investments.
The 2.4m sqft industrial assets were part of the $4.3bn closed-ended Mapletree US & EU Logistics Private Trust (MUSEL), which was established in 2019.
The latest transaction represents the second US warehouse portfolio sale for Singapore-based Mapletree, following the sale of a 1.8m sqft industrial portfolio last month for $328m.
The portfolio comprises 10 bulk warehouse assets located in high-growth innovation hubs across the Sunbelt states of Georgia, Florida and Texas.
Richard Prokup, CEO, US, Mapletree, said: “This divestment represents a strong outcome for our investors and affirms the value we’ve created across our US industrial portfolio. As we look ahead, we remain focused on reinvesting in premier warehouse assets that align with our long-term growth strategy.”
John Paul Chua, director, investment, US, Mapletree, said: “Partnering with EQT to close this transaction is a significant achievement. It showcases the commitment and teamwork shown by all sides throughout the process.”
Since entering the US real estate market in 2014, Mapletree has built a portfolio, including logistics, data centres, offices, student housing and multifamily properties. As of the first quarter of 2025, the US accounted for almost 25% of the group’s $60.1bn total assets under management.
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