EQT Exeter’s non-listed, perpetual-life US real estate investment trust (REIT) has invested over $80m (€74m) to acquire its fourth asset.
EQT Exeter Real Estate Income Trust (EQRT) said it has acquired 2871 S 102nd Street industrial property in Tukwila in Washington for $81.5m.
The fully-let, 202,464sqft property, located in South Seattle, was completed in 2021.
Ali Houshmand, global head of non-traded REITs at EQT Exeter, said: “South Seattle is a highly sought-after, low-supply infill market with limited developable industrial land, an ageing building stock and strong appetite for warehouse space.
“Rapid population growth and increasing e-commerce demand, as well as dynamic emerging industries make this property an ideal regional distribution location to the core of Seattle and surrounding region.”
EQRT’s acquisition marks its fourth since the company’s founding in August last year, bringing total capital deployed to around $390m.
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